PPI on loans

sammyjo_3

sorry for asking this as i'm sure it's probably been answered in the thread below but can you cancel your PPI at anytime even if it's say 18 months after the loan started?

thanks

robert_harper_2000

hmm... no they want to re-fiance the loan ( which are top loaded ) basically they make it expensive and stop you cancelling it.

Whose it with>?

Was it suitable? I have helped my brother get it refunded as it was an unsuitable product.

Lola23

sammyjo wrote:

sorry for asking this as i'm sure it's probably been answered in the thread below but can you cancel your PPI at anytime even if it's say 18 months after the loan started?

thanks

Hi sammyjo

I managed to cancel my PPI with TSB after a lot of carry on.

The options they gave me were as mentioned before..Re-finance the loan, but it would have been at a higher rate than I was paying at 9.3% (which was too much anyway). 2nd option was to keep the payments as they were and finish the loan early...That's the option I took. I would have preferred to cut my payments but at least I was refunded my premium.

Hope this helps.

Lola

atypicalblonde

Hi

My OH has a loan with Lloyds TSB, and he has successfully cancelled his PPI by just ringing up and saying he didnt want it any more. They tried the hard sell 'are you sure' about 10 times but he stuck to his guns and cancelled it. They refunded that had already been paid on the PPI to the current account that his payments came out of which was a good bonus as well. It is worth sitting down and working out how much you have already paid - we basically said look we have paid £X can we have it back? And they said yes.

It may depend on your provider as to whether you get anything back or not but best of luck with cancelling it. Keep us updated xx