PPI Reclaiming Discussion Part 5

[Deleted User]

retrobaby wrote: »

i also remember the rate was 45% apr!!!

The interest rate on the loan has nothing whatever to do with PPI or a complaint about it's mis-selling.
A successful complaint will only net you a refund of any PPI you paid plus 8% interest.
Write them a SAR letter (cost £10) to see if there are still any records.

davehalo1

Hi Guys,

Any advice on this -

I took out my mortgage with Yorkshire Bank in 1999.

I was advised I needed to take out PPI as I would not get the mortgage and I have been paying about £10.00 per month ever since.

I have all my mortgage documentation still intact including all statements.

Much appreciated.

Thanks,

Dave.

ZaneyJaney

Can anyone help,

I took out a 100% mortgage 11 years ago and was told I had to pay a one of payment of 2000 and something pounds which was added on to the mortgage. I was told it was insurance I had to have because it was a 100% mortgage. I never really understood what it was for and as it was my first mortgage I just accepted it.

Has anybody else had to do this?

Would I be entitled to claim it back?

Thanks in advance

Brokerwise

ZaneyJaney wrote: »

Can anyone help,

I took out a 100% mortgage 11 years ago and was told I had to pay a one of payment of 2000 and something pounds which was added on to the mortgage. I was told it was insurance I had to have because it was a 100% mortgage. I never really understood what it was for and as it was my first mortgage I just accepted it.

Has anybody else had to do this?

Would I be entitled to claim it back?

Thanks in advance

This product is called Mortgage Insurance Guarantee or MIG, MGI etc. Very common insurance on high loan to value mortgages as protected the lender and you if the had to repossess you and re sell your house. It is not something you can not reclaim and you mortgage would not have completed without it.

dunstonh

davehalo1 wrote: »

Hi Guys,

Any advice on this -

I took out my mortgage with Yorkshire Bank in 1999.

I was advised I needed to take out PPI as I would not get the mortgage and I have been paying about £10.00 per month ever since.

I have all my mortgage documentation still intact including all statements.

Much appreciated.

Thanks,

Dave.

Yorkshire did have compulsory insurance requirements for a number of their deals until the early 2000s. So, if yours was one of those then that is allowed and no wrong doing has taken place.

If you were lied to and didnt need it then you can complain but almost certainly no evidence exists to prove it and most complaints on the basis go on to fail on that particular point. These complaints then look at suitability and statistically, most go on to fail as MPPI suffers fewer issues than loan and credit card PPI. Do you have a stronger complaint reason?

dunstonh

ZaneyJaney wrote: »

Can anyone help,

I took out a 100% mortgage 11 years ago and was told I had to pay a one of payment of 2000 and something pounds which was added on to the mortgage. I was told it was insurance I had to have because it was a 100% mortgage. I never really understood what it was for and as it was my first mortgage I just accepted it.

Has anybody else had to do this?

Would I be entitled to claim it back?

Thanks in advance

You are not entitled to claim it back. It is not PPI. It is MIG (mortgage indemnity guarantee).

pookypoo

Hellllp!!:j

Last week I resigned from my job to become a carer for my daughter for a while and made a claim to barclaycard on my policy that i have paid staggering amounts for for the past 17 years. If my claim is successful they will pay a measly payment that amounts to about 8quid per month. What a joke!!
My question is that even though my claim is in the initial process, i feel that the policy is useless given the fact that i have roughly paid about £6000 in contributions. i believe that the amounts are excessive for what you actually get in return. Many a time i have looked at reclaiming the money back for this policy which in my early 20s i was told that i didnt have much credit history so the ppi would guarantee a successful application so i naively took it out (something which is very difficult to prove) so where do i go from here? no idea and desperately need some advice.
thank you in advance xx:)

notamoneygrabber

hi
i have been successful in getting ppi claims for the years 1999 to about 2006 now my question is has anybody had any success with Lloyds prior to 1999 without any paperwork i did pa for a search but was told they were unable to look back further as they also do not have any paperwork .i am somewhat suspicious of that claim.any thoughts welcomed
thanks

Murphyt11

Hi, not sure if I am in the right place ...3 or 4 years ago Premium Reclaim rang me about a ppi claim against Paragon. I went ahead with the claim through them with very little correspondence from them. During the claim I did have the financial ombudsman ring me and the ladies words after quite a lengthy discussion was that if she thought there was a case she would get premium reclaim to take it to the next stage if her decision was a no then i would know by the end of that week. Still not hearing anything i rang them and finally got a response saying my claim was with their solicitor. I decided once again to contact them as no news and all my emails have bounced back and on telephoning them the number no longer exists. Does anybody know if Premium Reclaim have vanished and if so where do I stand now. Sorry its a bit lengthy any help would be greatly appreciated.

-taff

retrobaby wrote: »

i wrote to blackhorse a couple of years back hoping to be refunded ppi on a loan i know i took out in 2001 and i know for a fact i had ppi tho i didnt know what it was an advisor took me in a room and said if i take it i will get the loan if i dont i propbably wont. i was yong and had just bought my first house so hence i remeber the year and i was deperarte i also remember the rate was 45% apr!!!1:eek: luckily only for around £1000 but thing is i have no paperwork or any records and when i wrote to them they said as it is past 6 years they have no records.... so burning question do i have any hope of reclaiming the money they swiped from a naive 19yr old girl who is now 32 with kids of her own????? im rekoning even the bit i paid with interest will add up?!
would really really appriciate some advise
thanks in advance

you need to send them a SAR and £10 to see if there is anything left. See the front page sticky.