can i claim ppi from an old loan with mortgage?

sitcom321

We borrowed an additional 5k against our mortgage in 1992 it was set up as a loan but running concurrent with our mortgage the loan and mortgage finished in 2007. I have all the original paper work for the loan and it shows ppi against it.

1. the loan was taken out in 1992 - 2007 does this fall within the timescales?

2. it was taken out with National & Provincial who then turned to Abbey National and I believe are now Santander, so would it still be a valid claim if I sent it to Santander?

3. the ppi on the loan was only £3 per month would it be worth claiming if I was entitled with it being such a small amount?

any advice would be welcome

dunstonh

1. the loan was taken out in 1992 - 2007 does this fall within the timescales?

Depends on what timescales you are referring to (different distribution channels "may" have time limits). Your date would eliminate most mortgage brokers and advisers for example.

2. it was taken out with National & Provincial who then turned to Abbey National and I believe are now Santander, so would it still be a valid claim if I sent it to Santander?

You havent said what your complaint was about. So, we cannot say if the complaint is valid or not. However, any complaint would be to the current company assuming it was them who sold it to you (and not a broker/adviser)

3. the ppi on the loan was only £3 per month would it be worth claiming if I was entitled with it being such a small amount?

Depends on whether you have a valid complaint or not.

sitcom321

dunstonh wrote: »

Depends on what timescales you are referring to (different distribution channels "may" have time limits). Your date would eliminate most mortgage brokers and advisers for example.

The timescale for complaining about ppi, sorry if I am sounding stupid but does the 6 year time limit for putting in a claim against ppi stand against the loan i took out in 1992 as it finished in 2007 so that does come within the last 6 years (sorry if that is waffling)

You havent said what your complaint was about. So, we cannot say if the complaint is valid or not. However, any complaint would be to the current company assuming it was them who sold it to you (and not a broker/adviser)

Current complaint would be that we were never given any choices about redundancy sickness insurance we were not told we could look elsewhere for better/cheaper deals (although £3 I agree is cheap)



Depends on whether you have a valid complaint or not.

that is what i am asking do you think i have a valid complaint or not

magpiecottage

You have not given any information that would suggest a complaint ought to be upheld - even assuming there is anybody to complain to. Santander will only answer a complaint if National & Provincial actually advised you to take out the policy.

dunstonh

Current complaint would be that we were never given any choices about redundancy sickness insurance we were not told we could look elsewhere for better/cheaper deals (although £3 I agree is cheap)

In which case you have no grounds for complaint. There is and never has been any requirement for them to tell you that. Indeed, most are tied to one company and only have the remit to discuss the option from that company. No-one else.

The timescale for complaining about ppi, sorry if I am sounding stupid but does the 6 year time limit for putting in a claim against ppi stand against the loan i took out in 1992 as it finished in 2007 so that does come within the last 6 years (sorry if that is waffling)

Over the years there have been different regulators or professional bodies. So, the dates vary depending on where you buy the product. With mortgages, if you bought via an adviser/broker then there is a good chance that regulation for them begun in 2005. However, if it was direct with the bank then you can go back further. The biggest issue with time is the data protection act. This requires firms to destroy records after a period of time. Some do this as little as 6 years. Whilst others dont destroy for a decade or even two decades.

Your biggest issue though is that you dont have a valid complaint reason at the moment.

_Andy_

I bought a loaf of bread from Tesco earlier, should they have said at the checkout "Sainsburys also sell bread"?
Cmon

sitcom321

Thanks for your comments. it looks like I dont have the right to complain about the ppi sold and that folks is all i was trying to find out