PPI FAQs discussion thread

Leodogger

dunstonh wrote: »

It wouldnt say that. However, the reasons you have given so far as not valid complaint reasons. If you quote those on a complaint you will get a more wordy version of what I have said back along with a rejection. If you have actual valid reasons for complaint and can prove them or the evidence points

I don't know what you mean by "it wouldn't say that".

By virtue of the fact that we were not TOLD this was being included, it was not shown as a separate insurance product in the actual mortgage front page, we were just told the TOTAL mortgage payment (repayment and interest separately) but buried in the small print at the back and it was included in the mortgage payment and we did not need it, we were both working full time and healthy, then it was sold to us without our agreement as we did not sign for an insurance product.

I don't think you know what you are talking about. PPI was sold to people who did not need it without their knowledge (as I said we were not told it was included, it was buried in the small print on the back page) therefore this is why billions is being laid aside by banks to cover their mis-selling this product to people who did not need it.

dunstonh

I don't know what you mean by "it wouldn't say that".

typo. I meant "I" not "it".

By virtue of the fact that we were not TOLD this was being included

You cant prove that.

it was not shown as a separate insurance product in the actual mortgage front page

doesnt need to be.

I don't think you know what you are talking about.

Says you who thinks PPI is illegal.

PPI was sold to people who did not need it without their knowledge (as I said we were not told it was included, it was buried in the small print on the back page) therefore this is why billions is being laid aside by banks to cover their mis-selling this product to people who did not need it.

That doesnt mean all were mis-sold. Certain types of PPI are near 99% mis-sold. MPPI has the lowest number of complaints and the lowest uphold rate. Mainly as monthly premium is how PPI should be and most MPPI is monthly premium. You havent given any provable or relevant complaint reason. Now, if you say you didnt need it then that is complaint reason. You just state why you didnt need it. If you have no financial need for the product then that is valid reason.

Leodogger

dunstonh wrote: »

typo. I meant "I" not "it".



You cant prove that.


doesnt need to be.



Says you who thinks PPI is illegal.



That doesnt mean all were mis-sold. Certain types of PPI are near 99% mis-sold. MPPI has the lowest number of complaints and the lowest uphold rate. Mainly as monthly premium is how PPI should be and most MPPI is monthly premium. You havent given any provable or relevant complaint reason. Now, if you say you didnt need it then that is complaint reason. You just state why you didnt need it. If you have no financial need for the product then that is valid reason.

Both of the above which I stated !

"Says you who thinks PPI is illegal."

If it isn't, why are banks paying out billions !!!!!

Don't bother commenting, you talk in riddles and I have a feeling you are one of those people who think they know everything but really know nothing :mad:.

magpiecottage

JWhite wrote: »

Which means I can claim it back - right ?

I agree with DunstonH, you have not given a reason why you should be entitled to.

In fact, as the law stood in 2001, if you had lost your income through accident, illness or redundancy you would have received no State help for 9 months - by which time it may well have been too late to prevent you losing your home.

Consequently, the Mortgage Code Compliance Board, the voluntary regulator at the time, advocated firms getting borrowers to sign disclaimers if they did not take out PPI in its Good Practice Guide.

So a missale seems unlikely for a monthly premium policy.

dunstonh

Don't bother commenting, you talk in riddles and I have a feeling you are one of those people who think they know everything but really know nothing .

Coming from the person, that is clearly clueless, what you think doesnt worry me at all. If you think PPI is illegal then go to the police and see what they say.

You have totally misunderstood what the whole PPI issue is about. Next time, read the information and dont just look at the pictures and headlines.

[Deleted User]

JWhite wrote: »

Don't bother commenting, you talk in riddles and I have a feeling you are one of those people who think they know everything but really know nothing :mad:.

Everything you've posted suggests that it is you who have a lot to learn about this subject. Remember that if someone posts a reply to you that you do not like, it does not mean it is wrong.
I have read no "riddles" on this thread.

sydneybean

hi,
am hoping someone can help....
in 2007 having split up with my ex husband and buying him out of the property i got a mortgage with A&L through Redwood Finance, now when we talked about PPI insurance it was my understanding that the ppi he recommended and had to be paid for upfront was to cover the full term of my mortgage, otherwise i wouldnt have added over 2k onto my mortgage that i was going to be paying off for the next 25years!!

it would appear that at the back end of last year when my fixed rate came to an end and i got a letter from the ppi company this wasnt the case.
do i have anywhere to go with this or have i been (as i think i have) incredibly stupid?!

thanks in advance

dunstonh

do i have anywhere to go with this or have i been (as i think i have) incredibly stupid?!

Single premium PPI added to the debt and charged interest is a mis-sale. You should have had monthly premium MPPI instead. So, you have good grounds for complaint

sydneybean

thanks for this, silly question but how do you suggest i go about this? i presume i need to write to Redwood? are there any templates that i can use? sorry, very cheeky but dont really know where to start or what to say....

S

[Deleted User]

sydneybean wrote: »

sorry, very cheeky but dont really know where to start or what to say....

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance