Will PPI show on statement?

edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
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PoochyPoochy Forumite
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edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
I wanted to check if i paid PPI on a mortgage a few years ago, will PPI or similar payments show on the statements or can it be hidden within the interest charge?
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  • Mersey_2Mersey_2 Forumite
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    It should really be shown separately, but isn't always (see Martin Lewis' guide on here re fraudulent mis-selling of PPI and packaged bank accounts by reps on commission).
    Please be polite to OPs and remember this is a site for Claimants and Appellants to seek redress against their bank, ex-boss or retailer. If they wanted morality or the view of the IoD or Bank they'd ask them.
  • edited 31 January 2016 at 5:46PM
    dunstonhdunstonh Forumite
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    edited 31 January 2016 at 5:46PM
    I wanted to check if i paid PPI on a mortgage a few years ago, will PPI or similar payments show on the statements or can it be hidden within the interest charge?
    It is impossible for it to be hidden within the interest.

    Most MPPi complaints are rejected. One of the key reasons for this is that MPPI was mostly sold as regular premium (monthly direct debit). This is how PPI should have been set up. No UK bank sold it as single premium. They all did regular.

    The two methods used by banks was:
    1 -monthly direct debit standalone from mortgage (most common method)
    2 - taken with mortgage payment but shown on mortgage statements (less common and old fashioned way)
    see Martin Lewis' guide on here re fraudulent mis-selling of PPI and packaged bank accounts by reps on commission.

    No bank staff were on commission with MPPI. Have you got a link for that article that refers to what you describe as the PPI article on this site make no reference to fraud or commission
    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.
  • antrobusantrobus Forumite
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    Poochy wrote: »
    I wanted to check if i paid PPI on a mortgage a few years ago, will PPI or similar payments show on the statements or can it be hidden within the interest charge?

    The easiest way to check would be to ask your mortgage lender.

    But normally, as far as MPPI is concerned, you would notice a monthly DD payment to some insurance company on your bank statement.
  • magpiecottagemagpiecottage
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    antrobus wrote: »
    The easiest way to check would be to ask your mortgage lender.

    But normally, as far as MPPI is concerned, you would notice a monthly DD payment to some insurance company on your bank statement.
    If it was sold by a broker, the lender would not know in most cases.
  • antrobusantrobus Forumite
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    If it was sold by a broker, the lender would not know in most cases.

    That's true.

    But then it certainly could not have been "hidden within the interest charge" if the lender did not know about what it was supposed to have hidden.:)
  • NasqueronNasqueron Forumite
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    antrobus wrote: »
    That's true.

    But then it certainly could not have been "hidden within the interest charge" if the lender did not know about what it was supposed to have hidden.:)


    The problem is the one case where you could argue it was "hidden" - single premium PPI - "hidden" only because it was a single payment rather than 2 and the PPI added to the loan interest - has been extended and propagated to cover any PPI claim by the claims companies along with their other unprovable allegations. PPI "hidden" in the interest of a credit card is logically impossible as it increases the debt of the card and if you added up the total balance on the card and added interest it would not equal the interest charged if there was PPI hidden in it!
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  • magpiecottagemagpiecottage
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    The OP says this is about a mortgage, Nasqueron.

    It is most unlikely that a bank would sell single premium PPI as this would increase the size of the loan and thus reduce the bank's security.


    The other alternative - which I have seen - is that a broker sold such a policy and got it added to the loan. If that happened, the mortgage offer would then be for a larger amount than the borrower had asked for. However, it would not be the lender's fault as they would not know the reason for this and any complaint would need to be directed to the broker.
  • NasqueronNasqueron Forumite
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    The OP says this is about a mortgage, Nasqueron.

    .

    Yeah I was just waffling about why people believe PPI can be hidden in interest based on CMC lies
    the concept of a United States of Europe is right.” Winston Churchill 1930
    I think that the Government are right to apply to join the European Economic Community...” -Winston Churchill 1961
    “The future of Europe if Britain were to be excluded is black indeed.”[FONT=&quot][FONT=&quot][FONT=&quot] - Winston Churchill 1963
    [/FONT][/FONT][/FONT]
  • Mersey_2Mersey_2 Forumite
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    dunstonh wrote: »

    Have you got a link for that article





    I said the mis-selling of PPI & packaged accounts.


    Goggle is your friend, but, here is an MSE guide:


    www.moneysavingexpert.com/reclaim/reclaim-packaged-bank-accounts


    You'll find "added by deceit" under 5.


    and


    "the banks have been found to have systematically mis-sold them." at Step 1.


    But Martin Lewis also refers to fraud by bank staff and many mis-sales being due to staff being on commission in The Times, Express, Moneywise and on ITV's This Morning, as you seem in some doubt .
    Please be polite to OPs and remember this is a site for Claimants and Appellants to seek redress against their bank, ex-boss or retailer. If they wanted morality or the view of the IoD or Bank they'd ask them.
  • NasqueronNasqueron Forumite
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    Mersey wrote: »
    I said the mis-selling of PPI & packaged accounts.


    Goggle is your friend, but, here is an MSE guide:


    www.moneysavingexpert.com/reclaim/reclaim-packaged-bank-accounts


    You'll find "added by deceit" under 5.


    and


    "the banks have been found to have systematically mis-sold them." at Step 1.


    But Martin Lewis also refers to fraud by bank staff and many mis-sales being due to staff being on commission in The Times, Express, Moneywise and on ITV's This Morning, as you seem in some doubt .

    You know Martin Lewis isn't a financial advisor or an expert in these things right? He can say all he wants about PPI commission or bank staff deceit, doesn't mean it's true.

    If your account was changed to a paid for account overnight by your bank, the next statement you get a charge, you ring the bank and ask why and either that staff member is going to be sacked and/or you'd have a complaint to the regulator - why would they risk their jobs for something they won't get any money for and that customers would spot almost immediately?
    the concept of a United States of Europe is right.” Winston Churchill 1930
    I think that the Government are right to apply to join the European Economic Community...” -Winston Churchill 1961
    “The future of Europe if Britain were to be excluded is black indeed.”[FONT=&quot][FONT=&quot][FONT=&quot] - Winston Churchill 1963
    [/FONT][/FONT][/FONT]
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