PPI Reclaiming successes and failures

bbanny1

After reading the many articles on this site re mis-sold PPI, I have downloaded, completed and sent off my PPI claim form to Santander.
It was for a Mortgage we took out in 1986 and had for just over 10 years until we remortgaged in 1996.
We have noticed thet there were payments on the annual statements (which we still have) for PAS (Personal Accident and Scikness) and as we never had a mortgage interview (as my wife worked at N&P) we were not consulted.
My question relates to how you can calculate what, if anything, you could receive.
Our premium was about £80 per year (£890 over the time of this Mortgage), and at that time the interest rates were over 12% for the most time
Is there a calculation you can do? Is the claim only until the loan was paid oiff or up to today?
Any help appreciated!!!

[Deleted User]

bbanny1 wrote: »

My question relates to how you can calculate what, if anything, you could receive.

If your complaint is upheld then you can expect a refund of all MPPI paid plus 8% simple interest.
As mortgage PPI has the least number of upheld complaints, I wouldn't be counting any chickens...

dunstonh

It was for a Mortgage we took out in 1986 and had for just over 10 years until we remortgaged in 1996.

Which not only makes it 19 years prior to insurance regulation but also 2 years before financial services regulation.

My question relates to how you can calculate what, if anything, you could receive.

That would be counting your chickens somewhat. You have a mortgage PPI which has the lowest uphold rate of any type of PPI. It is the one PPI that is still regarded as worth having. It is 26 years ago since you took it out and 16 years since you last paid it and it is way before regulation.

You havent indicated any wrong doing and there is no right of access to the FOS. Santander dont tend to roll over easy on mortgage PPI at the best of times.

Trillain

Hi,
I'm helping my sister reclaim PPI on Lloyds loans.
The first was started in 2002 including upfront PPI, was consolidated 4 times and the present loan is still running.
The first three all included upfront PPI.
All loans were taken out in the same way, in branch at an account review.
Lloyds have written back to say they uphold the complaint for loans 2 and 3, and will therefore recalc 4 and 5 and restructure 5. But they have rejected loan number 1.
So my question is, is there any reason the FOS would agree with them, perhaps because of the age of the loan?
Or with all things being equal if they uphold 2 and 3 would they uphold 1.

Nothing has changed in her circumstances over this time, she has had the same job with the same excellant benefits.
What should be her next step?

bbanny1

Moneyineptitude wrote: »

If your complaint is upheld then you can expect a refund of all MPPI paid plus 8% simple interest.
As mortgage PPI has the least number of upheld complaints, I wouldn't be counting any chickens...

I am thankfully not counting any chickens at all!
But when you say 8% simple interest, does that equate to, for example, if I paid £1000, I could expect £1080?

[Deleted User]

bbanny1 wrote: »

if I paid £1000, I could expect £1080?

I wouldn't expect anything at all since it's 26 years ago (and 16 years since you last paid it)!
Read Dunstonh's post above.

gangnamstyler

New to this, how do I submit a post?

gangnamstyler

I was very disappointed yesterday to receive a letter from MBNA rejecting a claim for a cr card I took out in 2001, PPI was applied and hefty amounts taken out over a period of about 3 years.
Basically they are saying as I applied online, I was directed to a different screen for the PPI and I ticked the box to purchase the PPI and given this, they "are satisfied that I actively chose to purchase PPI and understood that it was optional when I did so".
They also said I was elegible for the cover being a uk citizen and employed etc and they did not offer advice only information "in other words your's was a non-advised sale". They also say that I had sufficient info to make my own evaluation and will not be upholding my complaint.
Well to me all this is a very weak argument, how do I know what box I did or did not tick in 2001 and they did not provide evidence of this. I also dont know if it was something I was strongly advised to do or possibly had to "untick" a box to remove the PPI from the application as a lot of web sites are clever about these days. Anyway long story short, I'm unhappy and I dont know what to do next. I also note from this forum that other people have had their claims upheld in similar circumstances so why have I been rejected? Anyone else receive a similar letter from MBNA or other and what should I do now, write back to them or go straight to FOS? any advice will be much appreciated.

gangnamstyler

Mandie wrote: »

Hi All,

I've just had a cheque for £1898 for PPI from MBNA. I used Martin's templates and it only took 3-4 weeks. Just waiting on a decision from Lloydstsb TSB credit card now. Fingers crossed

Mandie

Hi Mandi, I just had a rejection letter from MBNA, what was your argument if you dont mind me asking?

steve157

I'm new to PPI reclaiming so about 3 weeks ago put a post on here asking if i should use a private company to reclaim my PPI and was told they would charge me 30-40% just to put a stamp on a letter so thought what the hell i know how to put a stamp on a letter, so tried it myself.
I downloaded the questionnaire filled it in and sent it of on the 07/11/12. On the 14/11/12 i received a letter from RBS saying they were investigating the claim. I wasn't holding much hope for this claim as the loans had finished in 2005 so more than 6 years.
Then today i received a letter offering me £5333 as full settlement of which £1634 is interest. I can't believe how easy and quick it was. They say I'll have the money within 28 days.
I just wanted to thank everyone on here for all the advice and now I'll move on to my next claim :j