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Can I claim PPI from a Britannia Loan?
Madseller
Posts: 3 Newbie
Hi Forum - I was wondering if someone might be able to help me with the following enquiry.
In October 2007 I took out a sizable loan from Britannia Building Society and have recently requested a copy of the executed agreement to check on the Personal Protection Insurance status.
I have received the agreement back today and notice that it does mention PPI in the agreement and does mention the costs associated with the PPI (they call it a insurance loan).
It amounts to £9,141.50.I did not ask for PPI or insurance and was not told whether it was compulsary or not. I did sign the agreement but if I had known the full facts about PPI back then I would never have agreed to have this insurance.
I must have just thought at the time that I had to have it or just didnt spot it. Am I entitled to claim this back? It does seem grossly unfair to have paid all this money out (the loan is nearing its end now - it was for 60 months) when if I had known that I didnt need to have it I would have not paid for it.
Any help would be greatly appreciated.
In October 2007 I took out a sizable loan from Britannia Building Society and have recently requested a copy of the executed agreement to check on the Personal Protection Insurance status.
I have received the agreement back today and notice that it does mention PPI in the agreement and does mention the costs associated with the PPI (they call it a insurance loan).
It amounts to £9,141.50.I did not ask for PPI or insurance and was not told whether it was compulsary or not. I did sign the agreement but if I had known the full facts about PPI back then I would never have agreed to have this insurance.
I must have just thought at the time that I had to have it or just didnt spot it. Am I entitled to claim this back? It does seem grossly unfair to have paid all this money out (the loan is nearing its end now - it was for 60 months) when if I had known that I didnt need to have it I would have not paid for it.
Any help would be greatly appreciated.
0
Comments
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Single premium PPI, where the premium is added to the loan, is very difficult, though not impossible, to defend.
They would need to show that they not only provided you with details of the premium but also the total cost over the course of the loan and how much the benefits might be in order to persuade FOS to reject it. It is not common for a firm to be capable of doing so.0
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