Earth Mortgages PPI

Stueya_2

Hi,

I remortgaged twice, once in 2005 and once in 2007 both with Earth Mortgages

The first was done with Southern Pacific mortgages but I'm not sure about the second but it was transferred to Topaz Finance

How do I go about getting the PPI back as I have very little information and Earth Mortgages no longer exists

Cheers

Nasqueron

Q1) Why were you mis-sold?
Q2) What evidence do you have to support that?

MPPI to protect your house is a good idea unless it couldn't have paid out

dunstonh

How do I go about getting the PPI back as I have very little information and Earth Mortgages no longer exists

1 - did you have PPI? if so was it monthly premium or single premium?
2 - who sold it to you?

antrobus

Stueya wrote: »

Hi,

I remortgaged twice, once in 2005 and once in 2007 both with Earth Mortgages

The first was done with Southern Pacific mortgages but I'm not sure about the second but it was transferred to Topaz Finance

How do I go about getting the PPI back as I have very little information and Earth Mortgages no longer exists

Cheers

As far as I can see, Lifestyle Finance Ltd trading as Earth Mortgages was a Rotherham based brokerage which entered administration in 2007 and was dissolved in 2012.

Presumably they would have sold the PPI.

Southern Pacific was a Lehmans vehicle. Topaz Finance was ABN-AMRO I think. Both of them were playing the sub-prime collaterised mortgage game.

Stueya_2

Nasqueron wrote: »

Q1) Why were you mis-sold?
Q2) What evidence do you have to support that?

MPPI to protect your house is a good idea unless it couldn't have paid out

Basically I was told I had to take it out as part of the remortgage and whilst I agree it was a good idea to take it out, I now believe I should have been given the opportunity to shop around for it but I wasn't and had no choice but to take it out with the remortgage

Stueya_2

dunstonh wrote: »

1 - did you have PPI? if so was it monthly premium or single premium?
2 - who sold it to you?

1. It was a single lump sum premium that was added to the remortgage costs and taken in full at the beginning- it covered the first 7 years and was in the region of £2,500

2. It was Earth mortgages who sold it as part of the deal

dunstonh

1. It was a single lump sum premium that was added to the remortgage costs and taken in full at the beginning- it covered the first 7 years and was in the region of £2,500

That is normally always considered a mis-sale. It should have been standalone monthly premium.

2. It was Earth mortgages who sold it as part of the deal

Just checking in case it was a broker that sold it rather than the lender.

I now believe I should have been given the opportunity to shop around for it but I wasn't and had no choice but to take it out with the remortgage

That is not a good complaint reason. There is nothing required by them to say you can shop around. They just cant insist on you buying it from them if you say you want to buy it elsewhere. The single premium and added to debt issue is a much stronger reason.