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Reclaiming mortgage overpayments
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explodingadric
Posts: 3 Newbie
I'm new on here so forgive me if this naiive, but has anyone heard of reclaiming for interest rate payments, in addition to regular PPI reclaim? I had a PPI claim settled by Claims Advisory Group (I know - I could have done it myself) and they are now very interested in pursuing a Mortgage Overpayment Reclaim case via a firm of solicitors, Allensons LLP in Bolton. I'm not sure whether to proceed. Does anyone know if this is a legitimate thing and what the chances of success might be? Any advice gratefully recieved.
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Zero chance. Avoid them.0
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No idea what they are trying to suggest they can claim back but if you try and get mortgage payments back your mortgage company might just be a little ticked off
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.
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Looking into this a little more, I think it actually relates to the Plevin v Paragon case and the commission fees that were bundled in with PPI payments. Does anyone have any experience of that?0
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Plevin only applies to rejected complaints. Since yours was successful, Plevin does not apply.0
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I should have clarified - the settled PPI claim was in relation to a different product with a different lender.Plevin only applies to rejected complaints. Since yours was successful, Plevin does not apply.
This article from this site seems to contradict what you are saying above:
Aug - Nov 2017 Banks should be sending out a letter to two types of consumer: the 1.2 million who were previously rejected for a PPI-mis-selling complaint, and anyone who has a mis-selling claim currently in process (or who makes one between now and August 2017) - so-called back cases. This letter must explain about Plevin and the processes of a claim.
Thus, could Plevin be an additional angle to an ongoing PPI claim?0 -
Looking into this a little more, I think it actually relates to the Plevin v Paragon case and the commission fees that were bundled in with PPI payments. Does anyone have any experience of that?
That applies to PPI not mortgage interest payment.Thus, could Plevin be an additional angle to an ongoing PPI claim?
Only on rejected complaints. It has no impact on successful ones. And most MPPI has commission below the 50% threshold. Its mainly single premium/loan PPI and seem really poor versions of the plans that exceed 50%.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
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