PPI Reclaiming Discussion Part 5

[Deleted User]

xxlozxx wrote: »

I took out a Barclayloan in 2008 and see that they added a PPI Premium Loan of £2749 to my cash loan of £14500 at a rate of 14.976% pa interest. The term of the loan is 72 months and I have so far made 39 monthly payments. Can't remember agreeing to this at the time as it was all dealt with over the phone. Is is worth pursuing and if so what could I expect to receive as compensation?

You can't complain just because you bought a PPI policy. You have to have valid complaint reasons in order to seek redress.

amersall

xxlozxx wrote: »

I took out a Barclayloan in 2008 and see that they added a PPI Premium Loan of £2749 to my cash loan of £14500 at a rate of 14.976% pa interest. The term of the loan is 72 months and I have so far made 39 monthly payments. Can't remember agreeing to this at the time as it was all dealt with over the phone. Is is worth pursuing and if so what could I expect to receive as compensation?

This looks like Single Premium.

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.

You Put that the full cost and unfair rebates of this PPI were not fully explained to you at the point of sale for you to make an informed decision.

If you win, the whole PPI is taken off the loan balance and your payment goes down by the PPI monthly amount, you get the 39 PPI payments back and the 8%.

briangardner

I wrote to HFC with acc no & £1 requesting copy of my terms & conditions. They refused as the account had nil balance. Now what?

jdwmfc

briangardner wrote: »

I wrote to HFC with acc no & £1 requesting copy of my terms & conditions. They refused as the account had nil balance. Now what?

A SAR costs £10 and they must send you details on all accounts they hold.
Look on here for an example letter to send.

https://forums.moneysavingexpert.com/discussion/1475553

That might work.

xxlozxx

amersall wrote: »

This looks like Single Premium.

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.

You Put that the full cost and unfair rebates of this PPI were not fully explained to you at the point of sale for you to make an informed decision.

If you win, the whole PPI is taken off the loan balance and your payment goes down by the PPI monthly amount, you get the 39 PPI payments back and the 8%.

Yes it was one payment each month and not a separate payment for PPI. Thank you for your help guess I will be putting in my claim! I'll keep you posted.

jledi

Hi, i had a mortgage with london scottish in 2005, this was to purchase a right to buy property, i had ppi and brokers fees on there as well, i paid the mortgage off after 1 year because the council bought it back from me in a compulsory purchase order, i had some debt problems at the time so the mortgage rate was much higher than normal and in fact i got extra on top of the mortgage to pay off the debts, the mortgage was for £40000 in total and the following year i sold it back to the council for £82000 however after all the fees and ppi brokers fee etc were taken off i actually got £37000 back in profit, however i had been paying £360 per month for that year so that was £4320 id paid plus when i paid it off i was charged £2000 for paying it off early. on those figures what kind of ppi would i get back, I've put the figures in to the ppi calculators and it comes out with anywhere between £6500 and £16500 so i don't know whats what. can anybody help.

regards
john.

ruby911

Any help wuld be greatly appreaciated here...
My husband had a Mortage with the Woolwich around 1996 / 1997 which we are pretty sure had PPI with it. This week our accountant has give us some very (2000) papers back they he had somehow held on too with our files for years. The Woolwich mortgage in 2000 was transeferred to a new property and now a joint mortgage - Insurance is showing on the 2000 statement and I am sure would have been previously paid too. My job has high sickpay cover and death payments etc so this would not have been needed. So my questions: 1. Can I claim PPI from a mortgage? With limited paperwork / evidence?
All thoughst would be greatly appreciated!

amersall

xxlozxx wrote: »

Yes it was one payment each month and not a separate payment for PPI. Thank you for your help guess I will be putting in my claim! I'll keep you posted.

Fingers crossed.

amersall

Some MPPI is not reclaimable, for the 2 posters that have asked this question, start a new thread and title it " Mortgage PPI reclaim " our "resident" guys who know more about this will help you.

chrispy1

Which address do I send my letter for copy of credit agreement at Barclay Card? I notice there is a number of addresses for them.