PPI Reclaiming successes and failures

karenb7740

karenb7740 wrote: »

My husband and I done a remortgage just over 5 years ago through a company called moneypartners. They were a company that helped people get remortgages who did not have A1 credit rating. The mortgage went through and is with Kennsington Mortgages. At the same time PPI was taken out on my husband, which I believe was discussed by the agent with me, NOT my husband as he never spoke to anyone at all through the process only signed the agreement papers. I beleive I was told it was compulsury for the main wage earner. I have got the paperwork out yesterday, and the insurance was done through Sterling. It was fronted loaded onto our mortgage advance for £3717.35, and the Stirling paper states that is was only for 5years cover! Why would you have insurance anyway that was only going to cover 5 years and the mortgage is for 25 years.
On what I beleive I read at the time about misselling of PPI isnt it wrong to front load a premium and then charge interest on it, and also what benefit would someone get have 5 years cover on a 25 year mortgage.
Could someone please advise if they have had any dealings with Moneymatters or Stirling Insurance Group, and if we have grounds to claim this money back.
Any help appreciated.

I also wondered if it would be the broker that we would apply to or the insurance provider. Also if the insurance cover has now ceased as was only five years, and we have another 20 years to pay, are we not in effect still paying interest on the 3717 front loaded insurance premium.
SHOULD I BE POSTED THESE QUESTIONS ON ANOTHER SITE AS ALSO JUST REALISED THIS IS ABOUT SUCCESSES

jay-1

karenb7740 wrote: »

I also wondered if it would be the broker that we would apply to or the insurance provider. Also if the insurance cover has now ceased as was only five years, and we have another 20 years to pay, are we not in effect still paying interest on the 3717 front loaded insurance premium.
SHOULD I BE POSTED THESE QUESTIONS ON ANOTHER SITE AS ALSO JUST REALISED THIS IS ABOUT SUCCESSES

If you go back to the PPI reclaim page you will see a blue icon with "new thread" click on this then you will have your own thread.

amersall

gramochroi wrote: »

Am so, so pleased tonight. Have been doing a clam on behalf of my ex for the above. He just received a letter today offering him £9,800, which he is very happy to accept!! :j:j:j

Thank you so much on his behalf in particular to Money, Amersall, Di and Dolphin, you are each worth your weight in gold!!

It's his money, but am sure I will have a nice meal and maybe even a round of golf from it.

:j:j:j Whoopee doo :beer::beer:: glad to have helped

amersall

karenb7740 wrote: »

My husband and I done a remortgage just over 5 years ago through a company called moneypartners. They were a company that helped people get remortgages who did not have A1 credit rating. The mortgage went through and is with Kennsington Mortgages. At the same time PPI was taken out on my husband, which I believe was discussed by the agent with me, NOT my husband as he never spoke to anyone at all through the process only signed the agreement papers. I beleive I was told it was compulsury for the main wage earner. I have got the paperwork out yesterday, and the insurance was done through Sterling. It was fronted loaded onto our mortgage advance for £3717.35, and the Stirling paper states that is was only for 5years cover! Why would you have insurance anyway that was only going to cover 5 years and the mortgage is for 25 years.
On what I beleive I read at the time about misselling of PPI isnt it wrong to front load a premium and then charge interest on it, and also what benefit would someone get have 5 years cover on a 25 year mortgage.
Could someone please advise if they have had any dealings with Moneymatters or Stirling Insurance Group, and if we have grounds to claim this money back.
Any help appreciated.

You put the claim into Money matters, this was a Single Premium PPI
the reasons you give are

We were mis sold the PPI on the above account for the reasons stated below, if you have proof to the contrary that this was not the case then please let us know.

The PPI was in fact a loan added to the Mortgage that we were to pay back to term with interest, the PPI only covered for 5 years but was still on the Mortgage to term end with interest and no cover for the remaining term.
Te full cost and unfair rebate of this PPI was not fully explained at the point of sale for us to make an informed decision.

In line with the FOS recommendations it is requested that the overall situation be restored as if PPI had never been included. This will entail:
A refund of the monthly payments that have actually been paid towards the overall loan in excess of those that would have been had the PPI not been added.

It is also requested that the overall situation be restored if the original loan had been sold without the PPI policy.

In addition, interest at the rate of 8% simple per annum to any excess payments made from the time each payment was made to the point that Money Matters pays them back to us.

We/i believe we were not given enough information on this ppi to make an informed decision. Had we/i known the full cost of this ppi we would not have taken it.

Unless you can prove without doubt that this PPI policy was fair, reasonable and suitable for my/our circumstances we/I will require you to rearrange the loan as if PPI had never been included.

amersall

Stevo2012 wrote: »

Hi Amersall,

Called the royal bank twice and spoke to 2 different people,they claim the info isnt there anymore as the account is closed, any suggestions on what to do next it is only 3 and a bit years since it was closed and Santander have cashed my £10 cheque for Sar but say they cant supply any info without account numbers:mad:

thanks

Stevo

On your DD list that you can access from internet banking, is the DD not showing on there? this was only cleared 3 years ago so it should be there, I have one on mine from 2004, it is paid up but is still showing.
I cannot believe this cannot be found from 3 years ago, give the ICO a call and ask if Santander should have destroyed the Data this soon and if they have not, why do they need the account number.

0303 123 1113

Can you call into a branch of Santander and ask as they may find you, if you already have then sorry

karenb7740

amersall wrote: »

You put the claim into Money matters, this was a Single Premium PPI
the reasons you give are

We were mis sold the PPI on the above account for the reasons stated below, if you have proof to the contrary that this was not the case then please let us know.

The PPI was in fact a loan added to the Mortgage that we were to pay back to term with interest, the PPI only covered for 5 years but was still on the Mortgage to term end with interest and no cover for the remaining term.
Te full cost and unfair rebate of this PPI was not fully explained at the point of sale for us to make an informed decision.

In line with the FOS recommendations it is requested that the overall situation be restored as if PPI had never been included. This will entail:
A refund of the monthly payments that have actually been paid towards the overall loan in excess of those that would have been had the PPI not been added.

It is also requested that the overall situation be restored if the original loan had been sold without the PPI policy.

In addition, interest at the rate of 8% simple per annum to any excess payments made from the time each payment was made to the point that Money Matters pays them back to us.

We/i believe we were not given enough information on this ppi to make an informed decision. Had we/i known the full cost of this ppi we would not have taken it.

Unless you can prove without doubt that this PPI policy was fair, reasonable and suitable for my/our circumstances we/I will require you to rearrange the loan as if PPI had never been included.

Thankyou so much for the help and advise Amersall, it was so detailed which was great. When the policy was sold to us by moneymatters it was only myself that they spoke to, (they never once spoke to my husband), but the PPI is only in his name. Do you think I should mention this also, or do you think it is enough to go in on what you have said already.
Thankyou again for your help.

[Deleted User]

karenb7740 wrote: »

When the policy was sold to us by moneymatters it was only myself that they spoke to, (they never once spoke to my husband), but the PPI is only in his name. Do you think I should mention this also

No, it's just incidental detail which will have no influence on the success (or failure) of your complaint. Try to avoid making "hearsay" allegations that are impossible to prove....

amersall

KeahsMum wrote: »

Hi everyone,

I put a claim in for PPI that I paid( without my knowledge) to Barclaycard on 22/8/12.

On the 30/8/12 I received a letter saying that they had no policy and my case had been closed.:mad:

After lengthy conversations they admitted that they had found my policy on an account that had been blocked.(by Barclaycard after suspicious activity on my card):(

They have since told me that my claim has been put into a "re work" queue and this has no time frame!:mad:

I have spoken to the FSO and they said that the 8 weeks still applies! But I have to give Barclaycard the 8 weeks before I can send it onto them:(

I have contacted Barclaycard and they are not interested.:mad:

Any help/advice would be much appreciated.

All you can do is wait, your 8 weeks are not up yet and you have to give the bank time to sort this out, the wait at FOS can be in excess of a year.
They will reply eventually.

amersall

karenb7740 wrote: »

Thankyou so much for the help and advise Amersall, it was so detailed which was great. When the policy was sold to us by moneymatters it was only myself that they spoke to, (they never once spoke to my husband), but the PPI is only in his name. Do you think I should mention this also, or do you think it is enough to go in on what you have said already.
Thankyou again for your help.

You don't need to put that, as money pointed out, just send what I put.

Whoever was the second named borrower would have been covered for death only, this makes me laugh as they can chase both of you for the money but both are not fully covered for the full PPI, the main thing here is to get the PPI declared a mis sell and the whole PPI comes off the Mortgage balance and your payment goes down by the PP monthly amount, this will save you thousands in interest over the remaining term.
Let me know what happens with this.

frazoz

magpielady wrote: »

have two claims woth FOS after refusal from barclaycard, both ongoing for over 9 months now, i realise the timescale can be a year or more but i am curious to hear of anyones outcomes of claims lodged with FOS

We have had our claim with the FOS since 20th Oct 11 and all we get back is that it's still being looked into too, and our case hasn't been allocated yet.

E-mailed them on 20/08/12, again on 5th and 20th sept and no replies, no we should have received our six month update letter on 16th sept and that hasn't been sent so at this moment it doesn't feel like anyone at the FOS is updating people like they promise....

Sent another e-mail so we shall see, not holding my breath though....starting to lose faith it will ever be resolved