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Natwest PPI Claim
Hi
I'm new here and helping out my in laws with a loan which they took out on behalf of my Husband
The loan was taken out in 2005 for £25k and the PPI was in included in the loan. £6393.00
The overall cost was £44.5k including the interest.
Now the loan is still running as it was taken over 120 and my FIL said to me last night that he went in to the bank a couple of years ago and they said to him that the PPI wasn't the correct product for him and they changed it to something else!!!
Is this legal? as he didn't know what he was doing as he isn't very clued up on financial matters.He changed it as he doesn't want his wife or my husband to be left with the debt if anything happens to him.
The paperwork which I did see last night as they can't find the orginal papework has both thier names on it adn it said that the account was opened in 2005
Does this mean that the loan is in joint names?
Also can they change the PPI without restructing the loan?
Many Thanks
Wendy
I'm new here and helping out my in laws with a loan which they took out on behalf of my Husband
The loan was taken out in 2005 for £25k and the PPI was in included in the loan. £6393.00
The overall cost was £44.5k including the interest.
Now the loan is still running as it was taken over 120 and my FIL said to me last night that he went in to the bank a couple of years ago and they said to him that the PPI wasn't the correct product for him and they changed it to something else!!!
Is this legal? as he didn't know what he was doing as he isn't very clued up on financial matters.He changed it as he doesn't want his wife or my husband to be left with the debt if anything happens to him.
The paperwork which I did see last night as they can't find the orginal papework has both thier names on it adn it said that the account was opened in 2005
Does this mean that the loan is in joint names?
Also can they change the PPI without restructing the loan?
Many Thanks
Wendy
0
Comments
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Hi Wendy
You might be best off posting on this section of the forum instead Reclaim PPI & Other Insurance
A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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