DB UK Bank PPI claim help

e30dan · 7 August 2019 at 8:38AM

Hi hopefully someone wont mind giving me some help, I expect you will have read this before but I am a bit overwhelmed by it all,
I took out an interest only mortgage in Dec 2007 with DB bank, the only reference to ppi I can find on paperwork is the completion statement from the solicitors, it has ASU premium listed at £660, I was self employed at the time and ironically enough just over a year after taking out the mortgage I had to close my business down due to the recession with masses of money owed to me I couldn't continue, I had to claim benefits to help with my payments. The mortgage is still live now unchanged.
When the ppi scandal was brought to light I always believed this ASU payment was all I would have been entitled to but ive been told by several people that ppi would have been built into my monthly repayments, the only thing is I cant find any of this on the paperwork I have, would this be likely?
Ive looked through the easy self claim forms and I am a bit lost, cant find mention of DB bank on any of them, id really appreciate some advice on the best action to take and especially if anyone has had success claiming from DB themselves

Many thanks

SonOf · 7 August 2019 at 11:08AM

but ive been told by several people that ppi would have been built into my monthly repayments,

That is not correct. Its a myth. It cannot be hidden away like that.

The vast majority of MPPI is monthly premium standalone cover with its own direct debit. There is a small number of single premium MPPI plans where the premium was added to the mortgage upfront. i.e. the amount you borrow is more. Those are 95% missold. That £660 on yours could be one of these.

Back in the 80s to early 90s, there were a small number of building societies that could collect your home insurance premiums and ASU premiums along with the mortgage but these would be detailed in the mortgage statement. You bought yours in 2007 where it would have its own direct debit if you had it on monthly payment basis.

e30dan · 7 August 2019 at 1:42PM

Ok thanks for the reply, so what would be your advice, is there any more than £660 that I can claim? If so whats the best way to go about it, firms are now going after the brokers for miss selling which I expect my case would come under

SonOf · 7 August 2019 at 2:12PM

If so whats the best way to go about it, firms are now going after the brokers for miss selling which I expect my case would come under

Actually, a lot of CMCs won't deal with mortgage broker arranged stuff as the success rate is so low. (under 1% of cases with the FOS with most rejected). And just last month The FSCS told CMCs off for the speculative pointless complaints they were putting in which had no merit. The real money for the CMCs on these mortgage complaints is not actually from the complaint but raising money from crowdfunding litigation complaints and selling the packs on.

You just put in a complaint to the broker about being missold PPI.

DB UK Bank PPI claim help

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