lloyds ppi claim

penelopepeapod

A claim was made for ppi on 2 loans:
The first loan was cleared with money raised in the second one.
The 1st has been partially agreed, but the 2nd rejected.
1st loan was single payment ppi and they have deducted the amount that would have been paid if it had been a regular premium ppi policy.
2nd loan rejected , but a payment allowed to cover the extra amounts paid when refinancing.
The reason for reclaiming ppi was the same for both claims so not sure what to do next.
Anyone had similar problem?

dunstonh

Your complaint hasnt actually succeeded.

The change of single premium to monthly premium means they accept it shouldnt have been single premium but do not accept any other reason you gave. They are allowed to turn single premium into monthly. So, in that respect, they are doing the right thing.

However, whatever your complaint was regarding PPI in general, they have not upheld it with either.

penelopepeapod

Thank you for your response which is most helpful.
The claim was based on not being made fully aware of choices available and being led to believe that the loan application would be looked at favourably if insurance was taken out, which I understand are valid reasons.
Lloyds say if I have any doubt about the decision to contact a financial advisor or Citizens Advice Bureau.
Their letter states a complaint leaflet and the FOS's leaflet about its service are enclosed, but they weren't, so I'm struggling to know what to do next .
Any comments would be gratefully received

dunstonh

The claim was based on not being made fully aware of choices available and being led to believe that the loan application would be looked at favourably if insurance was taken out, which I understand are valid reasons.

They are weak reasons as they are unprovable. Without evidence these points would normally be rejected and then the case should be viewed on suitability and eligibility instead.

You need to refer to the FOS if you disagree with their response

misschicken

There are clear instructions on the FOS website on how to refer your complaint to them and a downloadable form to fill out which is very straight forward. If you decide to go this route you must refer to the FOS within 6 months of the date of your final response from the bank - they won't take on cases after that except in exceptional circumstances. Be warned, the queue is very long at the FOS, 18 months or so.