Am I entitled to interest?

Kassie

Hi all, I have just been advised that my claim for PPI has been successful and also my claim for mis sold mortgage advice amounting to £58,000. It has taken almost a year to get to this point, so don't give up hope.
Not that I want to appear greedy but the letter from L&G does not mention interest on monies owed but does include £500 compensation. Just wondered if any one can advise if I should ask for interest on the monies.

Just want to say thanks, although not a poster I am a regular reader

di3004

Kassie wrote: »

Hi all, I have just been advised that my claim for PPI has been successful and also my claim for mis sold mortgage advice amounting to £58,000. It has taken almost a year to get to this point, so don't give up hope.
Not that I want to appear greedy but the letter from L&G does not mention interest on monies owed but does include £500 compensation. Just wondered if any one can advise if I should ask for interest on the monies.

Just want to say thanks, although not a poster I am a regular reader

Hi there

Well done and Congratulations on your success.:T:beer::j

If this was upheld in your favour and not an offer - I assumed interest would already been included, but I could be wrong, otherwise I would think your entitled to this.

Maybe someone will have the correct answers on here for you, good luck.

marshallka

Kassie wrote: »

Hi all, I have just been advised that my claim for PPI has been successful and also my claim for mis sold mortgage advice amounting to £58,000. It has taken almost a year to get to this point, so don't give up hope.
Not that I want to appear greedy but the letter from L&G does not mention interest on monies owed but does include £500 compensation. Just wondered if any one can advise if I should ask for interest on the monies.

Just want to say thanks, although not a poster I am a regular reader

Hi, did FOS deal with your mis sold mortgage advice also and what date was this from?

This is a lot of money £58K and 8% statutory interest per annum (like FOS usually would ask for) would be a lot of money on top of it. What was the actual complaint upheld for?

Kassie

Hi Marshallka,

Thanks for your reply

The FOS have not been involved with this and the complaint dates back to Oct 2007. The offer is from L&G on advice given by AWD Home Finance, the figures they use are mortgage payments we would make minus those of what we would have paid under our old terms plus compensation but no mention of interest.

Thanks again

marshallka

Kassie wrote: »

Hi Marshallka,

Thanks for your reply

The FOS have not been involved with this and the complaint dates back to Oct 2007. The offer is from L&G on advice given by AWD Home Finance, the figures they use are mortgage payments we would make minus those of what we would have paid under our old terms plus compensation but no mention of interest.

Thanks again

If they have upheld this complaint and there is no mention of the statutory interest then I would certainly ask FOS to ask for it for you. You have won a complaint that shows you were deprived of monies and therefore I would think that this should be awarded.

Well done.