Reclaiming PPI. Does this letter sound ok??

terrylamps

(Name + Address)

(Date)

(Name + Address of
Loan Company)

Dear Sir / Madam

Re: Account number: **********

I purchased the above policy from you on ********* but now believe that I was mis-sold this policy for the following reason:

Having recently looked at the paperwork for my loan I now realise that I have been paying for insurance (PPI) that I did not know I had taken out so the policy could not have been explained to me.

I specifically told you at the time of taking out the loan, when asked if i wanted to take out the insurance cover, at least twice, that I did not want the insurance cover. At no time did your salesperson say I would not be able to have the loan without taking out the insurance and she was fully aware that I did not want the policy.

I was not informed at any point that insurance was added to my loan agreement and the original documents do not mention anything about an insurance cover. I have discovered this very recently when I looked into my statements and the original signed document. Statements 1 to **, there is no mention of ppi cover. Statements *** to *** mentions ppi cover, (photocopied documents enclosed) at £??? per month.

Therefore I am requesting a full refund of all premiums, and subsequent interest on these payments, that I have paid to date. As I believe I have been deprived of this money I also expect 8% statutory interest, the amount a court would award, to be added to each payment made, and the insurance premiums to be stopped immediately.

I look forward to a full and prompt response to this letter and for the matter to be concluded with eight weeks or I shall be contacting the Financial Ombudsman to investigate my complaint.

Yours faithfully

(Sign + Print Name)


Do I send this to the banks headoffice that I got the loan from?