Lloyds TSB

Options
Hi Everyone,

I have been on CAG site trying to confirm the finer details of a PPI claim and to be honest the Site Team member is nothing but rude and obnoxious and finding it difficult to keep my patience.

Anyhow I filled out a spread sheet which calculated the amount I should be reclaiming it worked out that 6.58% of my £267 monthly repayment was made of the banks charges which works out at £1184 then there is the 8% interest which amounts to £1075 my question is I paid a single premium of £845, is that refundable too? many thanks
Many Thanks

Webby


:j Won Against Natwest 4.5k, LLoyds 13K, Virgin Media £150 :beer:

Comments

  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Options
    If your complaint is upheld, you receive a full refund of all premiums paid, plus 8% simple interest plus any attendant interest.

    You'll also have to pay tax.

    There really is no need for any spreadsheets. You don't "claim" a specific amount, you simply complain that the PPI was mis-sold giving your reasons for doing so.
  • -taff
    -taff Posts: 14,593 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Options
    If you paid a single premium of 845, that is what you recevie back, plus the attendant interest, plus 8% simple interest.
    Shampoo? No thanks, I'll have real poo...
  • dunstonh
    dunstonh Posts: 116,643 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Options
    Anyhow I filled out a spread sheet which calculated the amount I should be reclaiming it worked out that 6.58% of my £267 monthly repayment was made of the banks charges which works out at £1184 then there is the 8% interest which amounts to £1075 my question is I paid a single premium of £845, is that refundable too? many thanks

    Not sure what you are trying to achieve.

    Did you actually pay PPI?
    Bank charges have nothing to do with PPI.

    The redress method is return of premium paid plus interest.
    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.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Options
    dunstonh wrote: »
    Bank charges have nothing to do with PPI.
    I'm guessing the OP refers to the PPI as "the Bank's charges". He means the insurance cost as a percentage of the monthly repayment;
    it worked out that 6.58% of my £267 monthly repayment was made of the banks charges
  • Nasqueron
    Nasqueron Posts: 9,040 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Options
    You get back the PPI premiums you paid and 8% simple (note not compound) interest for each year. Any payment is obviously subject to them agreeing it was miss-sold and records you both hold proving payments were made
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 343.7K Banking & Borrowing
  • 250.3K Reduce Debt & Boost Income
  • 450K Spending & Discounts
  • 235.9K Work, Benefits & Business
  • 609K Mortgages, Homes & Bills
  • 173.4K Life & Family
  • 248.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards