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Some help on how much extra has been paid with p.p.i built into loan
KD1
Posts: 31 Forumite
My mum took a loan out for £7600.00 which had a monthly repayment of £176.52 over 60 months (5 year period)
The optional loan protection insurance loan had a premium of £1,782.10
This brought the total loan to £9,382.10 and changed the monthly repayments to £217.91
There were a fixed interest on the total loan which was 1.16% per month
The anual percentage rate was 14.8%
Could anyone show me how to work out how much extra she paid after being mis-sold p.p.i.
Any help be very much appreciated.
Kd1
The optional loan protection insurance loan had a premium of £1,782.10
This brought the total loan to £9,382.10 and changed the monthly repayments to £217.91
There were a fixed interest on the total loan which was 1.16% per month
The anual percentage rate was 14.8%
Could anyone show me how to work out how much extra she paid after being mis-sold p.p.i.
Any help be very much appreciated.
Kd1
0
Comments
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What is your reason for claiming mis-selling if it was optional ?Its amazing how these banks can't even do simple calculations correctly..............0
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217.91 -176.25 X 60
ppi is £41.39 X 60 = Total payable £2483.4
N0
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