question about ppi

woodymeg

found out today that yet again didnt realise that one of our ppi was not cancelled and also the lady said that there was no expiry date on the ppi, it was taken out in 2006. Is there ppis that run for longer than 5 years, have no paperwork regarding this so just thought i would ask....,.:o

di3004

woodymeg wrote: »

found out today that yet again didnt realise that one of our ppi was not cancelled and also the lady said that there was no expiry date on the ppi, it was taken out in 2006. Is there ppis that run for longer than 5 years, have no paperwork regarding this so just thought i would ask....,.:o

Hi Woodymeg.;)
There are some that will run for the full term of the loan, but they should still be optional and if they added this to the loan, it can be very costly, where now it should not be sold this way, you can still have grounds on being mis sold the PPI.;)

I would if you can ask them to send you a copy of the terms and conds, do this in writing if you want to, or check them out by googling the bank online and write in terms and conds, hope this helps, this should tell you more on how that actual policy works.

woodymeg

di3004 wrote: »

Hi Woodymeg.;)
There are some that will run for the full term of the loan, but they should still be optional and if they added this to the loan, it can be very costly, where now it should not be sold this way, you can still have grounds on being mis sold the PPI.;)

I would if you can ask them to send you a copy of the terms and conds, do this in writing if you want to, or check them out by googling the bank online and write in terms and conds, hope this helps, this should tell you more on how that actual policy works.

ok thankyou, this ppi was actually organised through freedom has nothing to do with the company who we got the money off, it was for £4270.00 and the loan would have ran for 240months but we paid it off.

di3004

woodymeg wrote: »

ok thankyou, this ppi was actually organised through freedom has nothing to do with the company who we got the money off, it was for £4270.00 and the loan would have ran for 240months but we paid it off.

Definately worth trying to get hold of the terms and conds of the policy if you can.;)
Either the broker or the lender should be able to supply these details to you, more so the lender I would say though, and they must send them on request.

woodymeg

di3004 wrote: »

Definately worth trying to get hold of the terms and conds of the policy if you can.;)
Either the broker or the lender should be able to supply these details to you, more so the lender I would say though, and they must send them on request.

Do you mean to get copy of t + Cs from insurance company, just had a look at their website and doesnt really say how long they do them for. The insurance co is Cardiff Pinacle.

di3004

woodymeg wrote: »

Do you mean to get copy of t + Cs from insurance company, just had a look at their website and doesnt really say how long they do them for. The insurance co is Cardiff Pinacle.

Is the payment added with the loan as a single monthly repayment?

The lender as well should be able to supply you with the copy of the t&c's, if they arranged the cover.;)

woodymeg

di3004 wrote: »

Is the payment added with the loan as a single monthly repayment?

The lender as well should be able to supply you with the copy of the t&c's, if they arranged the cover.;)

hi yes it was a single payment got this through broker freedom finance, it was money matters that lent us money then was passed to Kensington mortgages. :cool:

di3004

woodymeg wrote: »

hi yes it was a single payment got this through broker freedom finance, it was money matters that lent us money then was passed to Kensington mortgages. :cool:

Either of them should supply them to you, although if you feel this was mis sold, you can still complain without the t&c's if you want to.
You write to the broker to complain and reclaim.;)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

woodymeg

di3004 wrote: »

Either of them should supply them to you, although if you feel this was mis sold, you can still complain without the t&c's if you want to.
You write to the broker to complain and reclaim.;)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Hi thanks yes have already put complaint in to Freedom, but just have been so confused lately as both ppi are still live and we have never been told this just assumed rightly or wrongly that they were cancelled when loan paid off. Have requested a copy any way so will see when that comes.

woodymeg

Between Freedom, Money matters and cardiff pinacle they havnt a clue whats going on, been told this morning from pinacle that there is no expiry on insurance, money matters then told me 10 mins later that it was for 5years, no wonder im getting confused

albemarle

I have been offered a refund of PPI insurance premium interest.... Should I accept or try for a complete refund of all premiums.