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ppi on accord mortgage
littlekaz
Posts: 4 Newbie
hi, can anyone please HELP!, WE HAD OUR FIRST MORTGAGE WITH ACCORD IN 2005 THEN ANOTHER FIXED IN 2007, WE TOLD THE BROKER THAT WE DID NOT NEED PPI, WHEN THE MORTGAGE WAS XFERED TO THE NEW FIXED RATE WE NOTICED THAT THEY HAD INCLUDED PPI, I RANG THEM TO TAKE IT OFF AND WAS TOLD IT WOULD BE CANCELED BUT WAS TOO LATE TO TAKE OFF THE MORTGAGE :mad: BUT THEY WOULD ADVANCE US THE MONEY INSTEAD AS IT WAS A ONE OFF PAYMENT. AS WE DID NOT KNOW HOW ANY OF THIS WORKED WE HAD TO JUST ACCEPT BUT NOW KNOWING MORE, WE ARE PAYING THE INTEREST ON THIS TOO, MY QUESTION IS, DOES ANYONE KNOW IF WE CAN CLAIM ANYTHING BACK AS WE DID NOT WANT IT IN THE FIRST PLACE, HOPE YOU UNDERSTAND THIS DILEMA:)
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DOES ANYONE KNOW IF WE CAN CLAIM ANYTHING BACK AS WE DID NOT WANT IT IN THE FIRST PLACE
You havent paid any PPI. So, you cannot complain you had PPI when you did not.
you are entitled and able to pay that extra amount borrowed off the mortgage at any time. Do you have the funds to do that now?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Any danger of reposting with sentences, grammar and no capital letters?0
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well I joined the forum for help and all I have had is abuse. I am not looking for an extra payout, we were asked if we wanted ppi we, in writing said "no". when the new mortgage started we noticed they had included a one off payment of ppi which was added to the mortgage, I rang and complained straight away. I was told they would cancel the ppi but could not re do the paper work for the mortgage, therefore we had no choice to have a cheque for what they added to the mortgage, it was there wrong doing so why should we have to pay the interest on it, all we want is the interest back that we are paying. Seems fair to me. !!!!!!!!!!!!!!!!!!!!0
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What was the one off payment for? And who refunded it?Non me fac calcitrare tuum culi0
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"well I joined the forum for help and all I have had is abuse."
There hasn't been any abuse.
I simply pointed out your post is almost unreadable0 -
well I joined the forum for help and all I have had is abuse. I am not looking for an extra payout, we were asked if we wanted ppi we, in writing said "no". when the new mortgage started we noticed they had included a one off payment of ppi which was added to the mortgage, I rang and complained straight away. I was told they would cancel the ppi but could not re do the paper work for the mortgage, therefore we had no choice to have a cheque for what they added to the mortgage, it was there wrong doing so why should we have to pay the interest on it, all we want is the interest back that we are paying. Seems fair to me. !!!!!!!!!!!!!!!!!!!!
You could have paid the proceeds of the cheque straight back into the mortgage and thus not paid the interest. Instead, presumably, you spent it. You are therefore only paying interest on what you borrowed, which seems fair to me.urs sinserly,
~~joosy jeezus~~0 -
well I joined the forum for help and all I have had is abuse. I am not looking for an extra payout, we were asked if we wanted ppi we, in writing said "no". when the new mortgage started we noticed they had included a one off payment of ppi which was added to the mortgage, I rang and complained straight away. I was told they would cancel the ppi but could not re do the paper work for the mortgage, therefore we had no choice to have a cheque for what they added to the mortgage, it was there wrong doing so why should we have to pay the interest on it, all we want is the interest back that we are paying. Seems fair to me. !!!!!!!!!!!!!!!!!!!!
Your choice at the time was to keep the extra money or immediately return it to accord to reduce the mortgage. You kept the money.
Why dont you just pay the money back now?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
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So basically you have had the ppi refunded to you already. If you want to avoid paying the interest just make a payment to your mortgage account0
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