Help with working out one of my ppi claims

woodymeg

Hi could anyone help in some figures pls loan was with Money Partners who then passed it to Kensington Mortgages mortgages
Taken out in Jan 2006
Loan Amount £30,000.00
PPI amount £ 4270.00
Interest at 15.20% repayment period 240months
When i spoke to kensington yesterday about redemption figure i asked about the breakdown of what was paid back. She said there is no breakdown except for early redemption charge as they got it as one loan from money matters, and the ppi was not part of their loan, it was one figure they lent us which was both added together £34270.00

So the settlement figure was - £38343.28 that was paid to Kensington
Paid off in August 2006
This again was one of our loans orginally got through Freedom Finance, Who I spoke to at kensington said that freedom asked for this extra amount to be borrowed and added to loan. I have currently got the claim in to Freeedom, but over last few days am getting more and more confused as who to be asking what of. I have nbo copies of this or my other loans PPi agreement and because we got this through freedom as a broker they should of sent us a copy....:o

dunstonh

The lender is only doing what they are told. They have no liability for the sale unless it was one of their representatives.

You should put the PPI complaint into the seller, not the lender.

this looks straight forward as its single premium PPI. You dont need to find out much in advance as you know the amount of the PPI and you know it was added to the loan.

woodymeg

dunstonh wrote: »

The lender is only doing what they are told. They have no liability for the sale unless it was one of their representatives.

You should put the PPI complaint into the seller, not the lender.

this looks straight forward as its single premium PPI. You dont need to find out much in advance as you know the amount of the PPI and you know it was added to the loan.

Thank you
so really from what ive gathered over past few days is this PPi should be still live because we havnt cancelled it as we thought it would be done when loan was paid off, now have found out this not the case. But im sure kensington said that the ppi was cancelled(will ring to make sure), if this is case some one somewhere along the line has had a rebate from this PPi, certainly not us. as loan was paid off in August 2006.

dunstonh

I wouldnt go for a part refund if I was you. I would go for full blown complaint that single premium and adding to amount borrowed was wrong and that monthly should have been used. Request a refund of premium plus interest. You can tag on to the complaint that the debt was repaid early and that the single premium PPI gave no refund. However, focus on the single premium bit as that is where your success will be. Over 90% of single premium PPI complaints to the FOS are upheld. You dont have to write war and peace. Indeed, just a couple of sentances repeating what I have said here. Keep it simple, dont over complicate and dont make things up.

woodymeg

dunstonh wrote: »

I wouldnt go for a part refund if I was you. I would go for full blown complaint that single premium and adding to amount borrowed was wrong and that monthly should have been used. Request a refund of premium plus interest. You can tag on to the complaint that the debt was repaid early and that the single premium PPI gave no refund. However, focus on the single premium bit as that is where your success will be. Over 90% of single premium PPI complaints to the FOS are upheld. You dont have to write war and peace. Indeed, just a couple of sentances repeating what I have said here. Keep it simple, dont over complicate and dont make things up.

ok thank you, have said that in orginal letters to freedom. Regarding interest is that the 8% the court will award. just thinking would it be worth asking for the interest that was charged to the ppi amount whilst the loan was active as the rate was 15.2% and we paid that for 6 months, or should i not bother and just ask for the 8%....:cool: