Northern Rock PPI

leanneq

I took out a loan last year with Northern Rock. It was worded to me that if I didn't take out the PPI then the rate would be higher so I foolishly accepted.
Having read this site, I realise that I have been missold the policy.
I phoned them and they said that I would have to take out a new loan! I have sent the letter ( as posted on here) and have had the same response!
Where do I go from here? Is there another template letter that I can send?

Having read other peoples posts, it seems everyone has had the same trouble with Northern Rock.
Has anyone had a success story and if so how???:rolleyes:

Thanks

leanneq

bump.

Anyone??

leanneq

anyone please?

maxim72

Leanneq,

I took out a unsecured loan with Northern Rock at the end of last year- applied over the internet. There was a check box to click if you did or didn't want PPI, I clicked that I didn't want it.

When Northern Rock called up on the phone to confirm details, the woman at the end tried very hard to sell me PPI and made it appear that getting the loan was conditional on taking PPI (though she didn't actually say this)

I then specifically asked her if I would be turned down the loan if I didn't take PPI, she said no. So, I eventually got the loan without PPI !

mrcow

You can try calling the Financial Ombudsman Service on 0845 080 1800 and see if they think you have a valid complaint.

Insisting that you reapply for the loan is the stance that NR usually take (although this will involve a settlement figure that pays off the PPI practically in full anyway). What you want from them is a refund on all PPI payments already made.

spurs_nut

I've just took out a 13000 loan with NR. Despite them saying in the KFI and in their terms and conditions that the insurance is cancable at any time, they to wanted me to reapply for the loan. This is unacceptable to me as they are basically saying that if i didn't take out the ppi then I wouldn't have got the loan or had a higher APR.

Surely this isn't right?

I've sent them a complaint and hopefully I will get the desired response.

AMILLIONDOLLARS

I have just taken out a loan with NR and luckily got the 6.4%. I was told my rate before they tried to sell me ppi, which I politely refused.

AMD