We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
PPI Mess!
salsa4
Posts: 6 Forumite
Well I am at a loss with claiming this PPI...... opinions - please help
Back in early Sept 2014 we got so fed up with being pestered about PPI & reclaiming that we decided to look into it. (We didn't bother before because we were convinced we didn't take out PPI). So we set a company off to investigate.
We filled in the forms allowing them to investigate in early Sep 2014, nothing happened.... each time we rang company it was waiting for the Bank to respond. In the end we were told had to fill in another authority form as it had been mislaid by bank (bank don't agree with this) & again several months later we had to fill in yet another form so that's 3 authority forms filled in. Bank wouldn't respond.
At last in June 2015, we are told that there was PPI paid on our mortgage! We were totally shocked! Filled in the claim form on the 2nd attempt.... the 1st claim form that we were sent had already been completed by another claimant! So we had another person's details in our hands! So a 2nd claim form was sent out which we completed & we were told we would have a decision by end Sep 2015. In mid August we were told couldn't keep that deadline final decision would be 30 Nov 2015, In Oct were told still can't give afinal decision (backlog) & it will now be end Feb 2016!
During December the Bank rang & said it was investigating & did we have proof/policy that we had paid PPI! NO we never knew!!! Again they rang between Xmas & New Year saying same thing needed proof, rang PPi company who sent them the letter that showed the bank had said yes we did have PPI on mortgage.
I have now received a letter saying complaint declined as no proof of PPI??? They don't know what the payment was for, so they are turning down claim.... Sorry I don't understand it was an enndowment mortgage paid over 20 years. Paid up several years ago!
Bank are looking into what the payment was??? What are your thoughts please.... any advice?
Back in early Sept 2014 we got so fed up with being pestered about PPI & reclaiming that we decided to look into it. (We didn't bother before because we were convinced we didn't take out PPI). So we set a company off to investigate.
We filled in the forms allowing them to investigate in early Sep 2014, nothing happened.... each time we rang company it was waiting for the Bank to respond. In the end we were told had to fill in another authority form as it had been mislaid by bank (bank don't agree with this) & again several months later we had to fill in yet another form so that's 3 authority forms filled in. Bank wouldn't respond.
At last in June 2015, we are told that there was PPI paid on our mortgage! We were totally shocked! Filled in the claim form on the 2nd attempt.... the 1st claim form that we were sent had already been completed by another claimant! So we had another person's details in our hands! So a 2nd claim form was sent out which we completed & we were told we would have a decision by end Sep 2015. In mid August we were told couldn't keep that deadline final decision would be 30 Nov 2015, In Oct were told still can't give afinal decision (backlog) & it will now be end Feb 2016!
During December the Bank rang & said it was investigating & did we have proof/policy that we had paid PPI! NO we never knew!!! Again they rang between Xmas & New Year saying same thing needed proof, rang PPi company who sent them the letter that showed the bank had said yes we did have PPI on mortgage.
I have now received a letter saying complaint declined as no proof of PPI??? They don't know what the payment was for, so they are turning down claim.... Sorry I don't understand it was an enndowment mortgage paid over 20 years. Paid up several years ago!
Bank are looking into what the payment was??? What are your thoughts please.... any advice?
0
Comments
-
Given you are paying (a large sum) to a PPI firm, why are you posting on here? Ring the company that you are paying hansomly and ask them what they are going to do about it?
Above just goes to show the incompetence of PPI firms and why you should never use them.
Interesting you were "totally shocked" about PPI on the mortgage - you would have agreed to it at the time and it would be on your mortgage agreement - how would you have paid your mortgage and kept your home if you lost your job or were too ill to work?
The payment could have been insurance (life insurance for example which may have been a requirement of your mortgage)Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
0 -
PPI company are looking into it! Just wanting other people's view as this has been going on for well over a year!
No we were not asked about PPI, back over 30 years ago it wasn't considered.... The payment wasn't insurance as we had life cover with insurance companies that we paid direct.0 -
At last in June 2015, we are told that there was PPI paid on our mortgage! We were totally shocked!
MPPI from banks and building societies was only set up with monthly payments. Most from a separate direct debit. Some would be collected with the mortgage but would appear on the mortgage statement. So, its hard to be shocked when you see the monthly payment.During December the Bank rang & said it was investigating & did we have proof/policy that we had paid PPI! NO we never knew!!! Again they rang between Xmas & New Year saying same thing needed proof, rang PPi company who sent them the letter that showed the bank had said yes we did have PPI on mortgage.
Perhaps the mistake on the other person was applied to you and you dont have MPPI.
Do you keep your bank statements? Did you see a monthly direct debit for an insurance company going through?
Did you get a letter when the mortgage closed telling you to cancel insurances?
Did you cancel the insurance? (if no and you are not paying anything now then you almost certainly didnt have PPI).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Who is the PPI company? Name and shame please.0
-
The mortgage paid up over 12years ago so I don't have a lot of paperwork!
However I do have 1 statement & remember on all of them it was the same entries on each one... just differing amounts according to interest rate. The statements were sent quarterly with only 3 entries on each one, being the interest. No DD for insurance or anything else at all! Hence shocked when told we had PPI. The insurance to cover the initial loan was paid monthly out of our ordinary current account.
No we were not sent any letter after the mortgage finished telling us to cancel PPI insurance
It is the bank that has said that we had PPI on the mortgage! There seems to be another payment included within the interest payments??? & this is what the Bank say they do not know what it is.. If they were deducting something they should surely know what the deductions were for! This is what is being investigated.
It just seems very odd that the Bank tell us that we have paid PPI & then 6 months later say now they can't find it.......0 -
The mortgage paid up over 12years ago so I don't have a lot of paperwork!
However I do have 1 statement & remember on all of them it was the same entries on each one... just differing amounts according to interest rate. The statements were sent quarterly with only 3 entries on each one, being the interest. No DD for insurance or anything else at all! Hence shocked when told we had PPI. The insurance to cover the initial loan was paid monthly out of our ordinary current account.
No we were not sent any letter after the mortgage finished telling us to cancel PPI insurance
It is the bank that has said that we had PPI on the mortgage! There seems to be another payment included within the interest payments??? & this is what the Bank say they do not know what it is.. If they were deducting something they should surely know what the deductions were for! This is what is being investigated.
It just seems very odd that the Bank tell us that we have paid PPI & then 6 months later say now they can't find it.......
Have you actually seen the correspondence from the bank that states you had PPI or is it just the claims company that has told you the bank said this. From my experience in a complaints department, claims companies often seem to think that any insurance a customer has must have been PPI!0 -
I have seen this is your OP
I have now received a letter saying complaint declined as no proof of PPI??? They don't know what the payment was for, so they are turning down claim.... Sorry I don't understand it was an enndowment mortgage paid over 20 years. Paid up several years ago!
Why have you mentioned Endowment Mortgage. There is no such thing. A mortgage isa mortgage and An Endowment is in insurance policy which normally matures at the end of the mortgage period and pays it off.
Are you getting the Endowment and the PPI confused....make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
It was an endowment mortgage when we took it out in the early 1980s, there were no ISAs then! It is a mortgage taken out with an insurance policy that pays off the initial sum hence endowment, the bank have nothing to do with the insurance policy, they accepted the policy would pay off the mortgage , as it did! No PPI!!! Am not confused between endowment & PPI!!0
-
& YES I have seen the letter sent to the PPI company from the Bank that says I have PPI on the mortgage, they emailed me a copy of the letter!0
-
PPI company are looking into it! Just wanting other people's view as this has been going on for well over a year!
No we were not asked about PPI, back over 30 years ago it wasn't considered.... The payment wasn't insurance as we had life cover with insurance companies that we paid direct.
So you're 100% certain of your recollection of an event 30+ years ago to the extent you know you didn't have PPI discussed - fine. So why, when your first statement came through taking this payment, didn't you query it?
Not in any way possible you did discuss PPI and simply don't remember?Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards