PPi Confusion!

loobylou31

I've recently been contacted by a company who say I've been mis-sold PPi.

They say I can claim for a mortgage (ongoing), 2 credit cards (ongoing) and a loan (finished paying in 2005 from memory). They have told me that I need to pay a fee of 240.00 upfront and that they also take 25% of any money recovered.

I was very sceptical and rang another company (no win no fee) and they told me that while they don't take a fee upfront they do take 30% +vat of any monies recovered. They also told me that I could claim on a previous mortgage that I took out in 1999.

Does this sound correct? and is this the sort of fees I should expect to pay?

I must admit I'm struggling to remember who I took my original mortgage out with (think it was alliance and leicester) and I no longer have a record of my loan agreement no. I did ring Santander to get my loan agreement no. from them and they said it had been archived and I would have to write to Bradford to get it and even then they might not still have a record of it (

Sorry for all the questions - very confused!:(

_Andy_

If you want to waste £240 you just found an easy way to do it.
You can just send the money to me if you'd prefer.

Duh

loobylou31

there's no need to be rude - I did think it was v.dodgy.

dunstonh

They say I can claim for a mortgage (ongoing),

mortgage is easy to complain about as it only has a few reasons where it is typically paid out on mis-sale. They are if it is single premium (it should be paid monthly from your account) or if you are not eligible. If you are paying monthly and you are eligible for cover then dont bother wasting time and money on it.

and a loan (finished paying in 2005 from memory).

So, a strong possibility that the records no longer exist. Maybe, maybe not but increasingly lenders are destroying records on closed debts.

They also told me that I could claim on a previous mortgage that I took out in 1999

Nope.
1 - if you bought via the lender, then they only did regular premium and not single premium. So, that would just leave you with one reason for potential failure and that would be if you were not eligible.
2 - if you bought via a broker then its pre-regulation and they dont have to take on the complaint.

Does this sound correct? and is this the sort of fees I should expect to pay?

Its a lot of money for telling lies and putting a stamp on the envelope.

I must admit I'm struggling to remember who I took my original mortgage out with

So, what would your complaint be then?

I did ring Santander to get my loan agreement no. from them and they said it had been archived and I would have to write to Bradford to get it and even then they might not still have a record of it (

Which probably means they will not have the records any more.