How can you tell if PPI has been added to the interest of the loan?

edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
4 replies 1.3K views
liverpool1988liverpool1988 Forumite
132 Posts
edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
Hi,

Just a quick one how can you tell if PPI has been added to the interest of the loan?

Cheers.

Replies

  • di3004di3004 Forumite
    42.6K Posts
    Hi,

    Just a quick one how can you tell if PPI has been added to the interest of the loan?

    Cheers.


    Hi there

    I'm sure our Marshallka will be able to answer this one for you, she is good at explaining with detail.;)
    The one and only "Dizzy Di" :D
  • Hi,

    The original loan document would normally show you, but do not expect it to be on the front page summary, The PPI docs are discreeted in amongst the documentation.

    You can also do a quick calculation on your loan balance, ie a £1000 at 5% interest over 3 years say. If your outstanding balance is higher than the loan plus interest you have probably got PPI.

    If in doubt ask your lender for info or ask them to resend copies of your original documentation.
    It is a Camels temperament that has truly endeared the camel to man.
    Docile and sweet under a caring hand.
    But stubborn and angry if ill treated.
    the camel both wins your heart and your respect.
  • Hi,

    Just a quick one how can you tell if PPI has been added to the interest of the loan?

    Cheers.
    I assume you mean that you want to find out if you had a single premium PPI as this is one that actually incurs interest as its another loan.

    If you use the FSA loan calculator and input your details in there and your interest rate etc you can see if you are only actually paying your loan only.

    I am sorry, I did not understand your question completely and apologies if this is wrong in my answer.

    http://www.moneymadeclear.fsa.gov.uk/tools.aspx?Tool=loan_calculator
  • Thanks this helped!
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