PPI Reclaiming Discussion Part 5

BollyDolly

I've just made a successful claim on Northern Rock (NRAM) for PPI on a mortgage from Nov 1993 - 2009. I was able to provide them with the Mortgage account no. AND I had written proof that I had a policy with Pinnacle Protection.
However...... I've since found bank statements from June 1983 - Nov 1993 referring to a previous mortgage ( different account number) with N.R., detailing monthly payments for that period.
All I have is the mortgage account number..... no proof of any PPI payments.
Do I have a case to make another claim, or do I take the money and run??

BollyDolly

Should have ALSO SAID..... a BIG THANK YOU to MSE, because without the advice on your website, I either wouldn't have made a claim, or would have claimed through a 'Claims Merchant' and paid 25% - 30% for the privilege!

Bermonia

First thing is to identify if you even had PPI on that mortgage - contact the lender and provide them with the details and query if it had PPI - obviously if they say no or that they no longer hold records then that will be the end of it.

[Deleted User]

BollyDolly wrote: »

All I have is the mortgage account number..... no proof of any PPI payments.
Do I have a case to make another claim, or do I take the money and run??

Certainly you don't have a "case" based solely on having proof that you simply paid a mortgage!

How could you "complain" without knowing whether you had PPI?

In addition, PPI was still rare in the early eighties and it's now well over three decades ago.

I would imagine, therefore, that any query you raise about this finance will be scuppered by a lack of records.

So expect nothing to come of this and you won't be disappointed.

[Deleted User]

It's not the 'underwriting financial institution' you want.

It's the seller.

dunstonh

The only other thing is that I had finance through Rover around 1994/5, Ford in 1999, Mitsubishi in 2000 and Toyota in 2005, and I am sure I had PPI, so how can find the underwriting financial institute so I can make a claim against these as I no longer have any paperwork supporting it?

The underwriter is irrelevant. You ask the car dealer. Who will in turn tell you that they were not regulated before January 2005 (one may be lucky for you).

-taff

The underwriter has no liability for the sale, the seller does.
Almost all the ones you mention are also pre regulation so your complaint can be dismissed.

Confused_senior

Hi new to this forum and apologies if this question has been asked before but I'm a little confused so any help and clarification is really appreciated.

I have just received my breakdown on my refund from Lloyds on an old TSB heritage credit card. They rejected my original claim although I had a pre-existing condition that would have negaited the policy. FOS upheld in my favour
The card was opened in December 1996 and was closed in August 2006 Lloyds have advised a figure of
Ppi premiums paid £1316.32
Difference in interest £379.20
Compensatory 8% £2056.67 this was calculated by Lloyds from opening in 1996 to it's closure in 2006
My question is taking in my interpretation of the redress explanation by the FOS is that the 8% compensation should be up until the it was upheld in February 2019. Can anyone clarify my understanding please

-taff

It's 8% simple interest so that looks about right. If you're unhappy, refer it back to the FOS or ask them for a more detailed breakdown.

I worked it out about 400 less than it should be...but my maths is not great.

[Deleted User]

Confused_senior wrote: »

Compensatory 8% £2056.67 this was calculated by Lloyds from opening in 1996 to it's closure in 2006

Does the bank say that or is that your own interpretation of the calculation?

Do note that the interest is simple, not compound.

The actual figures look to be in accordance with FOS guidelines, but if you remain unsure contact FOS for assistance as they will know what they have awarded..