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do wine accept the banks offer
mamawitch
Posts: 2 Newbie
Do we accept an offer? we took ppi with lloyds tsb in March 2003 to cover cost of mortgage if hubby off sick. he got sick this year and is still off work 6 months later and after the 60 day initial wait we claimed.
we were expecting them to pay full mortgage of £340. they offered us £90 a month . they said we were only paying ppi for a sub mortgage which actually wasn't taken out till may 2003.
we complained that they missold us the ppi.
the claim was upheld and they have offered us repayment of what we paid them plus interest. this offer is less than what we should have got had we been paying for full mortgage which we thought we were.
we were never told that we were only paying for a sub mortgage.
are we entitled to the whole cost of the mortgage or should we accept the repayment offer which would still leave us in debt. help!!!
we were expecting them to pay full mortgage of £340. they offered us £90 a month . they said we were only paying ppi for a sub mortgage which actually wasn't taken out till may 2003.
we complained that they missold us the ppi.
the claim was upheld and they have offered us repayment of what we paid them plus interest. this offer is less than what we should have got had we been paying for full mortgage which we thought we were.
we were never told that we were only paying for a sub mortgage.
are we entitled to the whole cost of the mortgage or should we accept the repayment offer which would still leave us in debt. help!!!
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Comments
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are we entitled to the whole cost of the mortgage or should we accept the repayment offer which would still leave us in debt. help!!!
No. The redress method on mis-sold PPI is a refund of premiums minus any amount paid out under a claim plus interest.we were never told that we were only paying for a sub mortgage.
That is a difficult one because it is an unprovable allegation. All the documentation will point to the figures showing the sub account being covered. Not the full mortgage. So, unless there is documentation to show the full mortgage covered, you are stuffed.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 -
it's great to get a direct answer... helps us to put it to bed.. cheers0
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