Existing EGG loan with PPI - can I remove the PPI?

drewster_2

Hello everyone,

I've got a loan with Egg which has always had PPI. However, after reading the article on the main site, I'm thinking of asking Egg if they can cancel the PPI on the loan. However, they weren't in Martin's table so I'm not sure if they'd do it or not.

I know I could call (and I will... eventually!) and ask but I just wondered if anybody had any experience of dealing with Egg specifically? It'd be good to remove that extra cost on my monthly repayment.

I'd welcome any advice, thanks!

frenchconnection200

The answer is yes I did it, they try to persaude you to keep it but just stand firm.

Ever_so_grateful

I got mine removed with Egg last week. I wrote to them telling them that I felt I had been missold it in the first place. They wrote back after investigating it and told me because I signed for it, I had agreed to this. however, they made me an offer to cancel the PPI backdated to one month.

I wrote back again referring them to telephone calls I had over the last year with various operators and detailing how I thought I was missold it in the first. Apparently, they can check this out??

After, 2 letters, various chasing up emails I got all of the PPI back from them. They did say they would not normally do it but it seems they must have realised I was missold it in the first place.

However, I'm still slightly confused about how much interest I have paid on the loan with the PPI bit added to it.....and whether I need to get that back..

so in answer to your question, YES

Good luck

James240

yep when i took my PPI of last yeari just phoned them up and asked them to take it off. They came out with the spheel (sp?) what happens if i lose my job ? redundency? but just stand firm and say that u will be fine and they will take it off for u. I didnt have a problem at all

mrcow

Ever_so_grateful wrote:

After, 2 letters, various chasing up emails I got all of the PPI back from them. They did say they would not normally do it but it seems they must have realised I was missold it in the first place.

Wow! That's great. Well done on sticking with it.

Egg seem to be really good with the PPI removal thing. If you don't want the insurance then just make the call.

drewster_2

Thanks everybody, I sent Egg a message through their website and they said I need to give them a call. And guess what? I'm about to do it now! I'll let you know how I get on shortly...

Presumably, the monthly cost of the loan now goes down because there won't be the added premium of the PPI on top?

drewster_2

Well, that was pretty simple! I've given them a call and the PPI is off, hurray! I could have reduced the term of the loan or the monthly repayment, so I went for the monthly repayment!! Thanks everyone

mrcow

Excellent (although to be a real MSE'r you would have reduced the term as you save slightly more money in the long run ).

Nice one anyway!