PPI Reclaiming Discussion Part 5

amersall

Ponkles

Love the user name :cool:

amersall

I have now found my copy of the original loan agreement and see that the PPI was £2,709.60 on my £11,000 borrowed.

Did you pay one payment each month to this loan and PPI and not a separate payment for the PPI? if you did, this is Single Premium PPI and this is the reason for mis sell that you use, this was a loan on the loan paid to term end with interest, if you cancelled the PPI they would have given you a pro rata rebate of the PPI and the remaining PPI is still on the loan to term end.

If you settled this loan early then, as above, you would have a pro rata rebate and you would have paid back the remaining PPI in with the settlement figure.

goonlecker

Just a quick question. I recently made a claim to my bank for Mis-sold PPI on three consolidated loans all of which where front loaded (single premium) I got a letter today (which I requested) from them showing all three amounts and dates when they where taken out and confirmation that all had PPI. Now looking at the sort codes it seems I took these loans out over the phone which I now remember doing, and also remember sending back the Insurance agreement forms which I signed. My question is will the fact that I took out these loans over the phone and sent back the signed paperwork agreeing to the Insurance lessen my chances of my claims being upheld?. many thanks for your time.

natalie_1982

Hi I have put in a PPI claim to Halifax, they wrote to me on 14th June and said that they would be investigating the matter and would respond within 8 weeks. The loan I am claiming for is paid, it was £8000 and I paid £1138 on top of that in PPI. Since putting the claim in I am sure I recall that this loan was an extension, or possibly a new loan with Halifax but was used to pay off an existing loan I had with them for £3000 which was coming to the end of term. The £8000 loan was taken out in 2006. I have no details of the original £3000 loan and I have tried ringing Halifax on several occasions but keep getting put through to a call centre where nobody can actually help me with specifics about my case - all I keep being told is that they are looking into the matter and I will have a response within 8 weeks. I am getting increasingly frustrated, if this is an extension of an existing loan then will they include PPI payments on this part of the loan or if it is a brand new loan, will they have details of the riginal loan I was using the £8000 one to pay it off with and will I have to put in a new claim? Thank you!

dolphingazer

goonlecker wrote: »

Just a quick question. I recently made a claim to my bank for Mis-sold PPI on three consolidated loans all of which where front loaded (single premium) I got a letter today (which I requested) from them showing all three amounts and dates when they where taken out and confirmation that all had PPI. Now looking at the sort codes it seems I took these loans out over the phone which I now remember doing, and also remember sending back the Insurance agreement forms which I signed. My question is will the fact that I took out these loans over the phone and sent back the signed paperwork agreeing to the Insurance lessen my chances of my claims being upheld?. many thanks for your time.

Hi goonlecker,

Single premium is the most upheld of all mis-selling complaints.

Please try not to worry about anything:cool: you should be fine:D

cathyma

:(Hi everyone i,v never posted on this website so here goes,
it,s about ppi,we have found out we have been paying ppi through my morgage since 1986,at that time we were young and did,nt understand what we were signing,we took our morgage with bradford & bingley and it will be paid of next year,about 6 months ago we got a letter from our morgage people to say that st andrews is the existing insurer of our policy and they have been responsible for all underwriting and claims handling,and bradford &bingley have now transferred the ownership of ppi to st andrews insurance,what i need to know is which one would i get in touch with regarding my ppi,i am still paying it and thats been from 1986 i am paying £3.28 month,i hope somebody understands this and can help please.

[Deleted User]

natalie_1982 wrote: »

will they have details of the riginal loan I was using the £8000 one to pay it off with and will I have to put in a new claim?

You'll have to wait for their full response to find out...

natalie_1982

Moneyineptitude wrote: »

You'll have to wait for their full response to find out...

Thank you - that's kind of why I was ringing them to see if they want more information/a new claim, or if I can just update them over the phone? The call centre has been less than helpful, just a standard "wait 8 weeks" response (which takes me to 9 August) but if I have to submit a second application I'd want to get the ball rolling now. Ho hum. Patience is a virtue I guess

tiffinqua

tiffinqua wrote: »

Hi all,
I'm just a bit confused as i rang lloyds tsb directly yesterday.
I took out a mortgage in 2005 with their advisor in branch,& i do remember her telling me that i had to have protection insurance.
She added the insurance on to the mortgage & i pay a seperate anount of £54.23 per month for this.
I also clearly remember that she did not tell me i could buy the cover elsewhere.
When i rang yesterday,after been on hold with lloyds for quite a few minutes while they checked the mortgage details,i was then asked the reason why i wanted to complain.
I replied that i hadn't been told by the branch advisor that i could purchase the insurance elewhere.
Her reply was simply that they would contact me within 10 working days...that was it.
After i put the phone down i have now started worrying because it was just such a short conversation,no other questions at all...what do you think..?,do i have a valid claim.?
Thanks.

A couple of months ago i posted on here for advice after i made a very short & sweet phone call to lloyds tsb complaints department(less than 30 seconds)
I was confused because the lady on the other end of the phone didn't seem to take much information at all on my claim of miss sell of my mortgage ppi.
I was given advice on this forum to sit tight & wait,because mortgage ppi is very different to loan ppi..& just to see what the outcome would be.
(I can't find the post to add to it ,sorry)
I have recieved a letter today for confirmation that i have been awarded £5595.58.
Great news !!!

[Deleted User]

natalie_1982 wrote: »

if I have to submit a second application I'd want to get the ball rolling now.

You won't be able to submit another complaint (you only get one chance). However, if they reject your current complaint, you can write with further information and ask them to reconsider. If this fails, you still have the Ombudsman to fall back on.