Any PPI opportunity from these?

LJ_80

Hi,


Ive never thought about making a PPI claim before, but thought I would look into it.


These are all the loans etc that I have had that I thought might be worth looking into:

• Loyds TSB Credit Cards - Airmiles Duo - taken out in 2008 (now called avios duo)
• Nationwide Mortgage - taken out in 2006, then switched to another in 2011
• Life Insurance (taken out at same time as mortgage in 2006) with Scottish Provident - only had for a year or so.

I don't know much about PPI - but is there anything to go at here?


Any help appreciated!

[Deleted User]

Just two questions -

Did you have PPI on these?
If yes, what are your reasons for it being mis sold?

dunstonh

Life Insurance (taken out at same time as mortgage in 2006) with Scottish Provident - only had for a year or so.

You cant have PPI on a life assurance policy.

Nationwide Mortgage - taken out in 2006, then switched to another in 2011

Nationwide retailed a standalone product for MPPI then. So, if you had it, it would have been a separate direct debit

Loyds TSB Credit Cards - Airmiles Duo - taken out in 2008 (now called avios duo)

As you still have it, this one is easy. Do you see PPi being paid on your monthly statement?

antrobus

LJ_80 wrote: »

...Loyds TSB Credit Cards - Airmiles Duo - taken out in 2008 (now called avios duo)....

Have a look at you credit card statements. Are there any charges on there for an insurance product of any kind.

LJ_80 wrote: »

...Nationwide Mortgage - taken out in 2006, then switched to another in 2011....

Did you buy any income protection insurance from Nationwide? Having some kind of monthly direct debit to Legal & General or some similar insurance company would be a clue.

LJ_80 wrote: »

..Life Insurance (taken out at same time as mortgage in 2006) with Scottish Provident - only had for a year or so....

No. There is no PPI on life insurance as such.

LJ_80

Thank you for your replies.

Had a look at an old credit card statement from 2013 (as far back as I could look online) and it says the PPI charge on that statement was 0.5% of the balance.

So fingers crossed the cc's will offer something

Will call lloyds later!

Nasqueron

LJ_80 wrote: »

Thank you for your replies.

Had a look at an old credit card statement from 2013 (as far back as I could look online) and it says the PPI charge on that statement was 0.5% of the balance.

So fingers crossed the cc's will offer something

Will call lloyds later!

Did you actually pay any PPI though? It was only charged if you had a balance on the card.

Banks don't "offer" anything, you complain, provide your reasons and evidence and if they agree you were miss-sold you get your premiums back + 8% simple interest (which is fixed)

LJ_80

Well on that statement the balance was approx. £2.5k so presumably that month I was charged £12.50.


So i'll maybe get a couple of hundred, without checking what my balances were each month

Nearlyold

LJ_80 wrote: »

Well on that statement the balance was approx. £2.5k so presumably that month I was charged £12.50.


So i'll maybe get a couple of hundred, without checking what my balances were each month

So is there a £12.50 charge on the statement? My credit card statements used to show how much PPI cost along with a number of other charges that could be made but I didn't actually have PPI

dunstonh

LJ_80 wrote: »

Well on that statement the balance was approx. £2.5k so presumably that month I was charged £12.50.


So i'll maybe get a couple of hundred, without checking what my balances were each month

Nothing need to presume. You either paid it or didn't. In this case, there would have to be a £12.50 transaction showing on the statement.

If you paid the balance in full, then the PPI is not normally payable (a few rare exceptions to that). It normally only charged on the balance not paid within the interest free period.

Nasqueron

LJ_80 wrote: »

Well on that statement the balance was approx. £2.5k so presumably that month I was charged £12.50.


So i'll maybe get a couple of hundred, without checking what my balances were each month

PPI was typically charged around 70-80p per £100 of debt - which would be £17.50 (at 70p)

If your complaint was successful you get all your premiums back plus interest at 8% per year (simple, not compound) so you may well get back more than you think - assuming you win!