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Halifax PPI letter

I received a letter from the halifax today saying they have reviewed their files and we may have been mis-soldPPI on a loan dating back to 2006.

Does anyone have any idea roughly how much PPI I would have paid? The loan was secured for £25,000 over 20 years and we paid £209 per month. The loan was repaid after 8 months as we were fortunate enough to inherit some money.

Just ball park figure required, ie £x amount of the £209 was PPI. Also, is PPI spread evenly over the life of the loan or paid upfront.

I had absolutely know idea we had PPI on this loan. My husband was self employed at the time and was the first name on the account, I was a stay at home mum. so I guess we wouldn't have been covered anyway?

I have filled in the forms stating clearly that it was a telephone sale and had know idea we had PPI. We shall see what happens.


Many thanks

Ali

Comments

  • -taff
    -taff Posts: 15,585 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You will get 8 months worth of PPI payments, plus 8% simple interest per year, plus the associated interest for the 8 months of PPi payments.
    Non me fac calcitrare tuum culi
  • amersall
    amersall Posts: 17,037 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    And, the remaining PPI after the rebate that was repaid in the settlement figure.
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