PPI Reclaiming successes and failures

sammie22_2

i hope my claims are a success like all of yours are

Moneysavingexpertfan_2

SUCCESS Reclaiming badly missold payment protection insurance on a mortgage Legal & General £652.99 Letter only (and two phonecalls from them) In a nutshell: I used the MoneySavingExpert letter template to try and reclaim money I'd been paying out for insurance on a buy to let mortgage that I'd said I didn't need at the time but had been told was compulsory, as it was a condition my mortgage lenders (not Legal and General) had placed on their product. I found out that it wasn't compulsory when my fixed term had run out on the mortgage and I changed to a different product and wasn't asked for my PPI details, I queried this and they said it had never been compulsory to have insurance! After the MoneySavingExpert letter I sent and a couple of phonecalls from them, I received a letter saying they were paying it back to me plus interest (I'd asked for the standard 8%) less tax, a total of £652.99 - after just over two years of payments of £22.75 a month. It was as easy as that, they didn't commit in writing that their salesman was in the wrong, but luckily they had investigated to find I am entitled to twice as much sick pay as they'd been told by their salesman, thus meaning their insurance was not appropriate for me. I can't thank Martin Lewis and his team enough, as I had no idea I was entitled to ask for the money back.

di3004

Moneysavingexpertfan wrote: »

SUCCESS Reclaiming badly missold payment protection insurance on a mortgage Legal & General £652.99 Letter only (and two phonecalls from them) In a nutshell: I used the MoneySavingExpert letter template to try and reclaim money I'd been paying out for insurance on a buy to let mortgage that I'd said I didn't need at the time but had been told was compulsory, as it was a condition my mortgage lenders (not Legal and General) had placed on their product. I found out that it wasn't compulsory when my fixed term had run out on the mortgage and I changed to a different product and wasn't asked for my PPI details, I queried this and they said it had never been compulsory to have insurance! After the MoneySavingExpert letter I sent and a couple of phonecalls from them, I received a letter saying they were paying it back to me plus interest (I'd asked for the standard 8%) less tax, a total of £652.99 - after just over two years of payments of £22.75 a month. It was as easy as that, they didn't commit in writing that their salesman was in the wrong, but luckily they had investigated to find I am entitled to twice as much sick pay as they'd been told by their salesman, thus meaning their insurance was not appropriate for me. I can't thank Martin Lewis and his team enough, as I had no idea I was entitled to ask for the money back.

WOW, well done and Congratulations
:beer::T:beer:

sabre1962

I would just like to say thank you to all members of this site and of course Martin Lewis although you do not know this you have all been a great help to me I have taken on beneficial finance and won over £2500 for PPI that I was forced to take out for a desperately needed loan which I have paid off. Just recieved the cheque. Just to let you know that you are helping people who look in on you every night but don't sign on the site. I hope you all have happy endings take care & thank you:T

ntskylife

HI All, new to this, can anyone advise if they have had any success with Barclays? I've been fighting it out with them for 4 months and they seem to have a major stalling issue going on. Thanks

BMF_2

Hi there,

Can anyone advise the first steps on the PPI thing? Should I call to cancel first as the loan is still being repaid, or bang straight in with a letter?

Many thanks to all you kind people who keep this forum going,

B

amersall

BMF wrote: »

Hi there,

Can anyone advise the first steps on the PPI thing? Should I call to cancel first as the loan is still being repaid, or bang straight in with a letter?

Many thanks to all you kind people who keep this forum going,

B

hi there, it is up to you if you want to cancel, but if you can go mis sell then thats what i would do, if you win mis sell you have to be put back in the position you were before the ppi was added. you will get back the ppi you have paid to date back, the remaining ppi taken off your loan plus 8% interest, and your monthly payment is reduced. as i said that is what i would do, but the final say is yours, good luck with this and please keep us posted

amersall

:j:j:j:j:jwell done to all winners :j:j:beer::money::money:

di3004

sabre1962 wrote: »

I would just like to say thank you to all members of this site and of course Martin Lewis although you do not know this you have all been a great help to me I have taken on beneficial finance and won over £2500 for PPI that I was forced to take out for a desperately needed loan which I have paid off. Just recieved the cheque. Just to let you know that you are helping people who look in on you every night but don't sign on the site. I hope you all have happy endings take care & thank you:T

Fantastic, well done, Many Congratulations.
:beer::T:beer:

di3004

ntskylife wrote: »

HI All, new to this, can anyone advise if they have had any success with Barclays? I've been fighting it out with them for 4 months and they seem to have a major stalling issue going on. Thanks

Hi
And Welcome

They have 8 weeks, I would then take this to the Financial ombudsman service (FOS).
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Either by ringing them to arrange for them to send a form, or you can download and print it online.

Remember to enclose copies of correspondence if any to the FOS, and make the FOS aware they have not resolved this within the 8 weeks timescale, infact your complaint has been with them for 4 months and are getting nowhere, so you feel its now time to ask the FOS to investigate.

Good luck and post up for help when required.

When you have time to browse through the threads, there have been much success with Barclays direct, but again through the FOS.;)