PPI Reclaiming Discussion Part 5

Skunk

Hello all, after some advice.

Our mortgage is with the Yorkshire Building Society. We've been paying Morgage Payment Insurance since having the mortgage, six years ago. I was aware of the payment, but stupidly didn't put 2 and 2 together re: PPI. It's only when looking at statements during a clear out that i've noticed that it clearly refers to Payment Protection - (even though YBS claim not to offer PPI in the FAQ section on the website).

The advisor at the time of application gave us the usual stuff 'what would you do if you lost your jobs, became ill etc...' We said our jobs were secure, we in good health, parents would help financially.

She told us it was a requirement. What she didn't say was that it wasn't compulsory. She also failed to say that we could've gone elsewhere for insurance. Being young, naive, and having no money for a deposit (at the time this was a 100% mortage with YBS), we signed up to it.

Do i have grounds to complain?

[Deleted User]

Skunk wrote: »

What she didn't say was that it wasn't compulsory. She also failed to say that we could've gone elsewhere for insurance.

The Banks tied agents are not required to tell you that you can buy elsewhere.
If the advisor told you it was compulsory then this might be cause for complaint, but failing to tell you it wasn't is a bit more difficult.
It would be a "hearsay" complaint regardless, and so impossible to prove.

Mortgage PPI is not the same as that on loan and credit cards and is usually set up and sold correctly.

skyelad

Hi All

Happy to say i have just won £2700 from a ppi claim thanks to this site

Now i would like to help my dad claim missold ppi... hes a hard one tho as hes had lots of credit cards and loans over the years. he knows hes paid ppi in the past but thats about all the information he can give me! how would i go about getting policy numbers for him? and checking all his previous loans and cards? to see if he was missold ppi on any of these? he sais he asked the bank if they could help and they couldnt help there.

any help would be much appreciated

thanks

skyelad

Skunk wrote: »

Hello all, after some advice.

Our mortgage is with the Yorkshire Building Society. We've been paying Morgage Payment Insurance since having the mortgage, six years ago. I was aware of the payment, but stupidly didn't put 2 and 2 together re: PPI. It's only when looking at statements during a clear out that i've noticed that it clearly refers to Payment Protection - (even though YBS claim not to offer PPI in the FAQ section on the website).

The advisor at the time of application gave us the usual stuff 'what would you do if you lost your jobs, became ill etc...' We said our jobs were secure, we in good health, parents would help financially.

She told us it was a requirement. What she didn't say was that it wasn't compulsory. She also failed to say that we could've gone elsewhere for insurance. Being young, naive, and having no money for a deposit (at the time this was a 100% mortage with YBS), we signed up to it.

Do i have grounds to complain?

yes you do have grounds to complain! i was 19 when i took my morgage out and was told the same as you. i have now had a letter back saying they are going to send me a cheque for £2700.

rocketman99

hi i got all my statements back from barclays and its a little depressing seeing the money i lost by just making min payments but i was stuck in a rut for many years theirs one thing i dont understand about the interest charge on my statement so if any of the good advisors on here can help ie amersall,cappo that would be great my statement says
closing balance £2020.50
direct debit £41.72
interest on your standard balance 0.94
interest 1.941%
INTEREST ON YOUR CASH BALANCE £42.51
interest 2.000%
total of new transactions £43.45



what is the difference between standard balance and cash balance ?

Skunk

Thanks for your replies. I've since done a bit more digging, and found a references to 'optional' and 'non obligatory' insurance. I suppose if its in black and white, i don't have a leg to stand on.

I'm still adamant the advisor mis sold, regardless of whats in print. As i've always flatly refused PPI (mainly due to being tight). I remember the conversation clearly, i used my standard answers when offered PPI - my excellent health, and being in the civil service at the time (considered a secure job back then).

I think the pressure of the size of the purchase being a house, must have convinced me to agree to it.

Oh well, live and learn. I'll still contact YBS, but i'm not expecting anything. But at least i know now i can cancel and look elsewhere.

Thanks again.

ProudPreston

I had a PPI policy that was bought through a Financial Advisor (Seperate to my Mortgage policy) and although advice was given i felt under pressure to take out the policy - can i claim?

p85ki

Hi so I am just sorting out Part 1 of my HSBC complaint PPI letter. Just a slight issue though.

I took out a flexiloan on 03/02/2006, following the template. Do I need to specify the T&C for the £5000 flexiloan (or Budget revolving account as creditexpert shows).

here is my letter so far - the account number is my current account as the flexiloan was put in a seperate account under my current account, so am i writing this letter correct?

---

Account number: 102*****

I am writing to request a copy and of the credit agreement for the above account under sections 77−79 of the Consumer Credit Act 1974. I enclose payment for £1.

I would also like to request a copy of the terms and conditions that were applicable to the above account at the time I took out my agreement on the 3/02/2006 for a £5000 loan (flexiloan), as I no longer have a copy and would like to check some of the details.


Thanks

w10bloke

I'm sure this has already been asked by someone but i had a Harrods Store card for years. When i've called about PPI which is clearly on my statements they tell me to call GE Money and THEY tell me to call Santander. All of them claim it's not to do with them. Help! Also i'm trying to do the Experian thing to get my credit history because i have no memory. At the end of the form filling they ask questions like you may or may not have opened a store/credit card on or about October 2001 can you tell us who it was with and how much the limit was. I dont remember what i did last year let alone 11 years ago!! Any advice?

nee666

ijb wrote: »

Hi all,

Would really appreciate your advice. I put in a claim with HSBC for a loan I took out after graduating in 1998. I'd initially thought this was too old but heard a success story on the money box podcast that was a similar age. HSBC has come back saying they only keep records for 6 years and can find no evidence of this loan. Although I now scan all such paperwork I didn't back then and therefore have no evidence.

Is this as far as I can take it or is there anything else I could try.

Any help would be much appreciated.

IJB

Your branch that you bank with may give you loan account numbers, have you got any bank statements showing loan payments on them?