GE Money/Loans.co.uk Single Premium PPI Claim

puglover_3

I have recently been investigating a consolidated loan that was taken out in 2005 and have today received a copy of the credit agreement from GE. The document is headed igroup and GE have confirmed that this is there company and that Loans.co.uk brokered this loan.


I am now in the process of starting my PPI complaint as it was a single premium of £4320 on top of a loan of £35,000. The interest was 16.25%. At no time were we given any advice or options i.e. monthly PPI. I have only just established that the PPI only covered 5 years of the loan which was taken out over a 15 year period. Therefore it appears that the PPI was inappropriate.


I do feel that we were completely mis-sold and forced into this option to secure the loan.


GE have told us to make the complaint to Loans.co.uk as they were the broker.


Am I correct in thinking that due to this being a single premium PPI there is a case?

antrobus

puglover wrote: »

...Am I correct in thinking that due to this being a single premium PPI there is a case?

Yes.

puglover wrote: »

..GE have told us to make the complaint to Loans.co.uk as they were the broker.

Which is correct I believe.

Of course, Loans.co.uk stopped arranging loans in 2008, but I think that Loans.co.uk is/was MBNA.

roonaldo

Yes this is bad and sounds like mis-sold. The term mis-match is bad for a start.

Not having being sold a monthly PPI is irrelevant if they never sold a monthly policy so I wouldnt bother put that in a complaint.

Loans.co.uk are owned by MBNA in Chester now.

antrobus

Yes;

LOANS.CO.UK LIMITED
STANSFIELD HOUSE
CHESTER BUSINESS PARK
CHESTER
CH4 9QQ
Company No. 03391635

is a subsidiary of MBNA Ltd

puglover_3

Thank you- all advice is much appreciated.

CRAZY:HORSE_2

Did you have any joy with your complaint?