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Yorkshire Bank PPI Payment / Loan Agreement
mlhm
Posts: 12 Forumite
Hi all,
Following on from my previous post, we have received a payment from Yorkshire Bank for PPI on a loan taken out in 2005.
The PPI element in the letter we received a couple of weeks ago was around £1200 + around £400 interest (8% element).
On the loan agreement it is clearly stated as just over £1500 for the PPI element (including the original interest on the policy).
In their letter they have accepted that the PPI was missold and agreed to a full refund, I was potentially a bit too hasty in signing and returning their letter without quering the amount first.
My question is - now that we have signed and returned the paperwork and the £1600 has been paid into our account, would we have any grounds to go back to Yorkshire Bank with regards to the PPI element which I believe should be £1500 and not £1200 + 8% interest or is it just a case of tough luck!?
One other query I have with them is that we originally requested CCA's for 2 loans, one taken in 2003 and one in 2005, the later one was supplied but they claimed that they no longer have the 2003 CCA.
In their latest response to us they claim they have reviewed the application and there is no PPI on the 2003 loan. What do people think are the chances that they do have the agreement or the claim they have reviewed it and there is no PPI on the earlier loan is just a fob off?
Any advise / comments more than welcome.
Many thanks in advance
Following on from my previous post, we have received a payment from Yorkshire Bank for PPI on a loan taken out in 2005.
The PPI element in the letter we received a couple of weeks ago was around £1200 + around £400 interest (8% element).
On the loan agreement it is clearly stated as just over £1500 for the PPI element (including the original interest on the policy).
In their letter they have accepted that the PPI was missold and agreed to a full refund, I was potentially a bit too hasty in signing and returning their letter without quering the amount first.
My question is - now that we have signed and returned the paperwork and the £1600 has been paid into our account, would we have any grounds to go back to Yorkshire Bank with regards to the PPI element which I believe should be £1500 and not £1200 + 8% interest or is it just a case of tough luck!?
One other query I have with them is that we originally requested CCA's for 2 loans, one taken in 2003 and one in 2005, the later one was supplied but they claimed that they no longer have the 2003 CCA.
In their latest response to us they claim they have reviewed the application and there is no PPI on the 2003 loan. What do people think are the chances that they do have the agreement or the claim they have reviewed it and there is no PPI on the earlier loan is just a fob off?
Any advise / comments more than welcome.
Many thanks in advance
0
Comments
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Bump!......0
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How long did the first loan run for and was it settled early?.
This has a bearing on the redress they have given you.
Sar the bank
https://forums.moneysavingexpert.com/discussion/1475553
Enclose £10 and give them 40 days to respond.
This will get you all info they hold on you, then you know what had ppi and what did not.0 -
Hi,
First loan ran for approximately half of the term but was paid off with the second loan.
With regards to the payment, should the refund on the second loan be for the full amount shown on the cca (900 policy + 600 interest) as they have accepted it was missold?
Many thanks0
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