PPI Reclaiming successes and failures

MattyA

sarahcatterall wrote: »

My husband is an ex military fast jet and therefore recieves a military pension . We took out a new mortgage in 2004 in order to move house after my husband had left the military and were sold a mortgage by the Halifax with PPI
In Dec last year he was made redundant by Virgin Atlantic from his aircrew job (thanks Richard B ) . When we went to claim on the mortgage protection we were told that unless my husband was in receipt of Job seekers allowance we were unable to claim PPI. So he went down the route of claiming job seekers allowance only to be told that his pension from the military was deemed enough for a family of five to live off (£450 per month What a joke thats how much the mortgage is !!!). Consequently we received not a single bean from the state or mortgage company. We were not eligible for anything not even free school meals for the kids. ( thats another story why is a military pension not ringfenced and how many ex servicemen are caught in the same trap We so nearly lost our home and all thanks to serving his country.). He has been a 40% tax payer for the last 10years and we were no entitled to a bean!!

Do we have a good case to say we were missold as the mortgage company knew he was in receipt of a military pension when we applied for the mortgage and he would therefore never be eligible for Job seekers allowance?

Sorry to hear about your story/situation.
The system stinks - it is supposed to be there for people in need.
You have paid into it,as higher rate tax payer more than most & in your husbands case he has even put his life on the line whilst doing so.
You should get something back!
And yet,as we read in the papers every week,you dont need to work a day in your life to get boob jobs paid for from benifits,£1000's of pounds for kids xmas presents,wall to wall flat screen TV's etc etc....'coz its not right for my kids to miss out on stuff,just coz I dont work'
It really bugs me - sorry for getting on my soap box,but I could go on and on about this....but I know it is not the right place
:mad::mad::mad:
Anyway I wish you all the very best with your reclaim.

Please tell your husband - THANKS from me at least.

Isabella_k

MattyA wrote: »

Well done Isabella!
I am a week or so behind you with the same people for the same thing.
Not heard anything yet other than a letter acknowledging my letter.
Lets hope I get a similar result !

fingers crossed for u mattya. One thing to watch for, n rock might send you refund acceptance but base it on a new loan without the ppi. Obviously you will pay more interest than if you put the refund towards the repayment of the loan. Keen to hear how u get on!

scott_1960

if i took a loan out and payed it off early, could someone please tell me if i paid insurance off in full in my settlement, i never recieved a settlement figure and wondered if insurance was still valid even if loan was paid off. my loan was with blackhorse, i wanted to borrow more over longer period, so had to go to another dept of blackhorse to get this. so they settled the loan with them selves if that makes sense. they sold me new ppi so this is why i need to no what happened to my existing policy, been in touch with them but no help there

di3004

scott_1960 wrote: »

if i took a loan out and payed it off early, could someone please tell me if i paid insurance off in full in my settlement, i never recieved a settlement figure and wondered if insurance was still valid even if loan was paid off. my loan was with blackhorse, i wanted to borrow more over longer period, so had to go to another dept of blackhorse to get this. so they settled the loan with them selves if that makes sense. they sold me new ppi so this is why i need to no what happened to my existing policy, been in touch with them but no help there

Hi Scott and welcome.

If you taken out a further loan with them they may have rebated the previous loan where it would have been reduced (not back in money).

Was the ppi mis sold, if so on both?
If so your entitled to make a reclaim on the remaining of the previous loan ppi and the exisiting loan.

You can request for a copy of both loan agreements, by writing a simple letter, enclose £1 cheque or postal order for each one, ask they supply by 12-14 days, remember to give the account numbers.

If you have a reclaim, follow the guidelines below, which takes you to the first part of stage one of reclaiming/questionnaire, you will have to complete and send to the ones who set this up for you, and keep copies.
If mis sold for the same reasons, you can use the same form/questionnaire of separately, depending if you were mis sold for the same reasons or not, but otherwise separate questionnaires would be better.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

Always keep copies of anything you send, or receive in case you need to refer to them at some point.

They have 8 weeks to give a decision, but may ask for more time.

amersall

Isabella_k wrote: »

fingers crossed for u mattya. One thing to watch for, n rock might send you refund acceptance but base it on a new loan without the ppi. Obviously you will pay more interest than if you put the refund towards the repayment of the loan. Keen to hear how u get on!

Hi there, when you win mis sell, the loan is restated without ppi.This should be at the same term and apr as the old loan, if this does not happen go to fos.The bank cannot make you worse off than you would have been had ppi not been added.

amersall

scott_1960 wrote: »

if i took a loan out and payed it off early, could someone please tell me if i paid insurance off in full in my settlement, i never recieved a settlement figure and wondered if insurance was still valid even if loan was paid off. my loan was with blackhorse, i wanted to borrow more over longer period, so had to go to another dept of blackhorse to get this. so they settled the loan with them selves if that makes sense. they sold me new ppi so this is why i need to no what happened to my existing policy, been in touch with them but no help there

Hi there, the loan that was put into the second one no longer had ppi so the ppi on that would have been cancelled.How long did you have the first loan before you consolidated as you may be due ppi from that one.Ask them for a breakdown of the first loan at settlement and that will will show you ppi and loan figures etc.x

BBB

amersall wrote: »

Well done to you :j Give the bank a ring, but i would say the loan is clear now.x

that's exactly what I wanted to hear!

SusanED_2

RichPyke wrote: »

FINALLY, after 16 months I have received my cheque from RBS for £6,826.76 (£16,000 loan, 84 months, claim at month 61). First they denied my claim so took it to FOS who took their time but went in my favour.

Had to complain to the CEO of RBS to speed it up (needed it really quick) and it actually worked to my surprise.

Not 100% sure the figure is high enough, I calculated it higher but at this stage I wont complain over a few quid.

I am really pleased, am currently fighting them for PPI over a period of at least 14 years, can you tell me who the CEO is and I will write to them to help push it along.

Thanks

MattyA

Isabella_k wrote: »

fingers crossed for u mattya. One thing to watch for, n rock might send you refund acceptance but base it on a new loan without the ppi. Obviously you will pay more interest than if you put the refund towards the repayment of the loan. Keen to hear how u get on!

I will let you know when I hear something.

MattyA

SusanED wrote: »

I am really pleased, am currently fighting them for PPI over a period of at least 14 years, can you tell me who the CEO is and I will write to them to help push it along.

Thanks

Good luck - me too with Mint for approx 10 years worth.