PPI Reclaiming Discussion Part 5

amersall

lilminx74 wrote: »

Hi all,

I claimed for 2 Santander loans I had years ago, 1 in 1999 for £7k and cleared with another loan from Santander in 2001 for £15k all have been paid off now. I recieved a letter from them stating they could not uphold my claim as there was no reason given for the complaint, even though this was done over the phone and I did say on there that I still had the paperwork (luckily) which shows a pre-ticked box on the agreement. Nothing was explained to me which I also stated, It was just there! I keep ringing them every week to see how my claim is progressing and they just say it's being dealt with....how long should I give them and any idea what I should be looking at for a refund (if any)....just so I know if they decide to try to fob me off as I have heard this happens quite often.

Thanks in advance for any help or advice given

Have you given them the reasons now and copies of the paperwork? this will help them, I would give them 2 weeks and see what happens in that time, hopefully you will get a response by then.

nikig1

After reading Amersall's reply to Lmackreath I am confused about my situation.
I was successful in claiming back the PPI from Natwest on 3 loans that were in a chain. The current loan had PPI to the value of £7177.80. The bank cancelled the PPI when our claim was received by them and we were sent a letter stating that due to it being cancelled we had a rebate of just over £800 and that our monthly repayments for the loan were now reduced from £368 to £342 due to the cancellation of the PPI. The length of the loan repayments hasn't changed
We have just received the PPI into our account, along with the 8% interest and are planning on using it to pay off the loan.

My question is: should the monthly payments have been reduced by more than £26 as the loan repayments of £368 we were making included £85.45 for the PPI?

[Deleted User]

amersall wrote: »

Sorry for "butting in".

Be my guest!;)

Medusa40

Hi there, I need a little piece of advice from someone who probably knows more than me.

Right here goes

When I bought my house about 10 years ago I agreed to take out PPI insurance which covered everything as I wanted to make sure I was covered for any eventuallity (being a single parent and not wanting to be out on the streets if anything happened). Two years ago I found myself out of a job and while frantically looking for a job the first thing I thought of was a claim on my PPI so I called only to be told I was not covered for unemployment. As I had the policy cover in front of me I said I did as it was stated I had it.

This went backwards and forwards for a week, I even sent them a copy of my policay and then contacted the ombudsman who told me I was going about it the right way but it wasnt really helping my predicament as I had no money coming in and was using my savings to pay the mortgage.

I was extremely lucky because I found a job after 6 weeks, which was only 2 weeks after the 30 days I had to be out of work before I was able to claim.

They have admitted it was an error on their part (Zurich insurance) and said that what I had been paying for was everything but unemployment as my premiums would have been £10 more a month. I assumed I had unemployment cover, which was my main concern at the time, when I took out the policy as it was written in black and white on my statement only for them to say I didnt because of an administrative error.

I am still quite angy about this as it caused a lot of stress at the time which could have been a lot worse if I hadnot found a job so quickly. I AM now paying the full premium to the same company for peace of mind to know that if anything happens with my job I am covered, hopefully.

Sorry it so long winded but would anyone happen to know if I have a claim?

Thanks

[Deleted User]

Hi
Thanks to all posters in this thread for the brilliant and useful advice.

My query relates to a mortgage with Bradford&Bingley many years ago and now paid off. I was definitely pressured into taking PPI (or Mortgage Protection or whatever it was called then) but sadly have destroyed all the original paperwork from that period as it was years ago!

I feel I am justified in making a claim but don't know who to claim from as B&B were taken over by Abbey a couple of years ago who in turn are under Santander's 'umbrella'.

Has anyone had a successful claim against B&B please and where did you send the claim form?

If anyone can offer any advice I'd be most grateful.

Good Luck to all with claims still being processed.

dunstonh

My query relates to a mortgage with Bradford&Bingley many years ago and now paid off. I was definitely pressured into taking PPI (or Mortgage Protection or whatever it was called then) but sadly have destroyed all the original paperwork from that period as it was years ago!

Was that with a B&B mortgage clerk or a mortgage broker?

Mortgage advisers are required by regulation to make you aware of the consequences and risks and options to reduce that risk. That includes disturbance. So, you actually havent given a reason for complaint there but just verified that the adviser, if it was one, did their job correctly.

I feel I am justified in making a claim but don't know who to claim from as B&B were taken over by Abbey a couple of years ago who in turn are under Santander's 'umbrella'.

You complain to Santander who will then likely reject your complaint due to lack of supporting evidence.

MPPI has the lowest success rate with complaints of any type of PPI. This is partly because it is usually set up correctly (monthly premium from your bank account), partly as it is covering a major debt with life changing consequences if it is not repaid, partly as most are set up under an advice process and not sales process (FOS stats show just 0.2% of the complaints they deal with are advised) which means a better audit trail exists and finally that most mortgage brokers only became regulated for insurance since 2005. So any pre 2005 case for them can be rejected as pre-regulation and you get no access to the FOS.

Some claims companies wont even do mortgage PPI complaints as the chances of success are low.

Bluebubble

Hi I'm new to this site and have been trying to make a post on the board re reclaiming PPI payments but I can't find a window to make my very first post so can you advise how I make a new posting so I can link in.

dunstonh

Medusa40 wrote: »

Hi there, I need a little piece of advice from someone who probably knows more than me.

Right here goes

When I bought my house about 10 years ago I agreed to take out PPI insurance which covered everything as I wanted to make sure I was covered for any eventuallity (being a single parent and not wanting to be out on the streets if anything happened). Two years ago I found myself out of a job and while frantically looking for a job the first thing I thought of was a claim on my PPI so I called only to be told I was not covered for unemployment. As I had the policy cover in front of me I said I did as it was stated I had it.

This went backwards and forwards for a week, I even sent them a copy of my policay and then contacted the ombudsman who told me I was going about it the right way but it wasnt really helping my predicament as I had no money coming in and was using my savings to pay the mortgage.

I was extremely lucky because I found a job after 6 weeks, which was only 2 weeks after the 30 days I had to be out of work before I was able to claim.

They have admitted it was an error on their part (Zurich insurance) and said that what I had been paying for was everything but unemployment as my premiums would have been £10 more a month. I assumed I had unemployment cover, which was my main concern at the time, when I took out the policy as it was written in black and white on my statement only for them to say I didnt because of an administrative error.

I am still quite angy about this as it caused a lot of stress at the time which could have been a lot worse if I hadnot found a job so quickly. I AM now paying the full premium to the same company for peace of mind to know that if anything happens with my job I am covered, hopefully.

Sorry it so long winded but would anyone happen to know if I have a claim?

Thanks

Basically no. Only one bit of your policy would have been PPI. The rest isnt. The bit they didnt set up for you is the PPI bit. So, you havent been paying it. You said you wanted it and they have that on record now and have corrected it and not requested you pay the back payments. So, financially you are better off because of this error. To go back and complain about PPI would be futile as you have only been paying it since the £10 increase and you asked for it.

nikig1

nikig1 wrote: »

After reading Amersall's reply to Lmackreath I am confused about my situation.
I was successful in claiming back the PPI from Natwest on 3 loans that were in a chain. The current loan had PPI to the value of £7177.80. The bank cancelled the PPI when our claim was received by them and we were sent a letter stating that due to it being cancelled we had a rebate of just over £800 and that our monthly repayments for the loan were now reduced from £368 to £342 due to the cancellation of the PPI. The length of the loan repayments hasn't changed
We have just received the PPI into our account, along with the 8% interest and are planning on using it to pay off the loan.

My question is: should the monthly payments have been reduced by more than £26 as the loan repayments of £368 we were making included £85.45 for the PPI?

Can someone help me with this query please?

poppyflower500

Hi. Ive just been told that I might be able to claim something back as Ive had a Barclaycard account for years. I don't use it but am paying an amount every month for the next thousand years due to bad money management several years ago. How would I know if I have this PPI? I didn't take out the card originally and there's no mention of it on the statements?