Alliance & Leicester PPI

Placida

cattermole wrote: »

Thanks amersall, looking at the paperwork it doesn't look as though they pre-loaded the PPI into the loan amount, more that there was a monthly charge added on each month for the PPI.

The insurance is called car purchase protection plan, although it is only life cover so not really that useful and very expensive at £8.75 per month in 2002.

It's a strange personal loan really obviously designed to buy cars but not HP as its 48 payments then the option to make a balloon payment or carry on with 17 more payments (with insurance) but all the interest apart from £143.06 is paid in the 48 months.

It's also only life cover on myself and not on my husband despite it being a joint loan, thinking back I think I was told I had to have the insurance for the loan.

In 2008 Alliance & Leicester were fined £7m for serious failings in the sales of PPI.

During the relevant period A&L offered a single premium policy with two levels of cover:

A. A bundled (full) policy providing cover for life, accident and sickness, and involuntary unemployment; OR

B. A policy providing ONLY life cover.

Prior to 16th May 2006, A&L also offered a 3rd policy providing life and critical illness cover.

cattermole

Just to let you know offer arrived in post this morning from Santander

All on the same document refund of life insurance and another loan with full PPI paid on it. Each loan policy itemised separately. One loan hadn't had PPI

I had a phone call last week asking me questions and they treated the life cover only one exactly the same in terms of the complaint. She told me then one of the loans I only had the policy number of had PPI on.

So well pleased great result and it didn't take long either.

cattermole

I cant believe how quick Santander have been sent back acceptance form on the same day we got it the 15th money was paid into the account yesterday!!