PPI Reclaiming successes and failures

edunn13

I hoping someone can help me and give me some advise Please
We had a lump sum of £5990. 00 PPI added to your mortgage when we remortgaged with Southern Pacific Mortgages in 2004 (Now Acenden Mortgages), we were informed that the mortgage adviser was Assured Planning Services (Now Ceased Trading) and the company who supplied the insurance cover was Marketing & Management Services ( Underwriters Lloyds of London), the PPI was only in my Husbands name and for only over 5 years, the mortgage was for 25 Years, My husband was self employed at the time and it clearly stated on the certificate from Lloyds of London that you must be in full time employment, also my husband is diabetic type 1, We are struggling to find who is responsible and we have been informed by FOS to make the complaint against the underwriters, We have sent off copy of certificate and copy of PPI amount deducted from Mortgage advance to the underwriters,

Are to FOS correct that we should complain against the Underwriters? Thanks Liz

[Deleted User]

edunn13 wrote: »

Are to FOS correct that we should complain against the Underwriters? Thanks Liz

FOS are merely suggesting you approach the underwriters of the insurance in the absence of anyone else you can complain to. There are no guarantees of success.

edunn13

Moneyineptitude wrote: »

FOS are merely suggesting you approach the underwriters of the insurance in the absence of anyone else you can complain to. There are no guarantees of success.

Thank you for the reply, I will wait and see what Lloyds of London come back with

frankie_gunner

hi guys im new to MSE so please forgive me if my etiquette is not quiet as should be
i claimed ppi from both halifax (£4500) (mortgage) and from capital one (£2500 )they both paid out within the 8 weeks timescale
lloyds declined for the credit card my wife had with them so i took it to the FOS who upheld my complaint in january ( though as usual lloyds are dragging their feet in the matter )
the thing is i could really do with you guys help in calculating the interest on one other complaint i have,
i have just had a decision upheld by the FOS against CT CAPITAL who have been absolute b****rs all the way through the complaint so i dont trust them 1 inch, heres the figures

loan started 2008 to run 25 years
loan amount £15000 ( still active) over 300 months
repayment w/o ppi £192.14
repayment with ppi £253.60
ppi £5468.69 (£61.46 p/m) over 300 months
loan APR 16.1%
ppi APR 13.7%

how do i calculate it ? its burning my head out with all the %s lol
16.1 % ,13.7 % ,or 8% or could someone please give me a ballpark figure
many thanks in anticipation
frankie gunner

-taff

253 minus 192 x 300....
that's your total amount of PPI to pay.

And you haven't asked this but if I were you, I'd use it against the capital of what you borrowed, because if you times what you're paying back minus the PPI by 300 you can see how much you are paying back v what you actually borrowed. Unles the amount you borrowed isn't 15,000.
It might even pay it off.

bigmoe66

I wrote to Lombard and at the time didn't have the policy number they wrote a letter back saying that there was no claim.i have since found the policy and it has got a ppi on it. What should I do?

frankie_gunner

hi taff
thanks for the reply, unfortunately im being a bit on the thick side today ,how do you get your calcs ?
ive tried doing the sums and got 3 different totals
but yea the idea is if theres enough to pay it off or at least knock a big chunk off
and by the way guys DO NOT even consider a management firm its easy peezey to do it yourself with help from this site( youve been ripped off once dont let the solicitors take you a second time)

-taff

Your monthly repayment is 253.60
Without the PPI it's 192.14
the difference is 61.46
the loan is over 300 months, therefore 61.46 x 300 = £18,438

-taff

bigmoe66 wrote: »

I wrote to Lombard and at the time didn't have the policy number they wrote a letter back saying that there was no claim.i have since found the policy and it has got a ppi on it. What should I do?

Send in a complaint with a copy of whatever records you have, the agreement, and any bank statements that show you paid this loan to term end.

frankie_gunner

b***dy hell taff £18438 !!!!
thank you for the help il let you know how it goes,
im off for a pint or 8 lol