Front loaded PPI

mtd-142128

Hi all
Just wondered would the refund be the full PPI amount added at time loan was taken out? as it is included in the balance of what I owe

dunstonh

Depends on how it is front loaded. Some add it and charge you interest. Some add it but charge no interest but divide it by the number of months to give the monthly payment increase. Front loaded with interest is nearly always paid back to you in full. The other can do the same but they may only refund what you have paid already and reduce the monthly payments going forward.

mtd-142128

Thanks Dunston
Not really sure without finding the paperwork out, but I'm on a self DMP so am only paying off the balance now,

MagP

If you have a front loaded with interest added from start to end, and you reclaim miss sold ppi, do you only get the ppi refunded and part of the interest? The reason I ask is due to my claim being with fcsc loan over 25 years and only 5 years into it. So what I'm asking is what percentage if the interest as well as the ppi could we expect?
Cheers

amersall

I think the FSCS only pay 90% of the ppi,dont think this includes interest though.

I could be wrong and i am sure someone will post who knows more about how the FSCS works.