Nram PPI claim rejected but WAS missold

adrianoturtini · 12 June 2018 at 10:07AM

I’ve have twice applied to NRAM about PPI myself, on both occasions they informed me they have no record of being sold PPI.

I have since used a PPI claims company, and it turns out I was sold PPI, not only that, but I would had been put on a higher rate of interest because I “took” this insurance.

I’m waiting to hear if they agree I was missold it (I was, I didn’t know I had it but made my claim after working out my monthly payments didn’t add up with the amount borrowed and the interest rate), but it’s annoying the PPI company will take a cut of any money owed considering I applied to NRAM directly.

Anyone have any similar issues? Is there anything I can do? Or shall I just accept it I’m hopefully getting some money back.

Thanks

[Deleted User] · 12 June 2018 at 10:14AM

I would wait to see if the PPI company are lying to you or not first.

If you have a successful complaint, you will need to pay them.

[Deleted User] · 12 June 2018 at 10:30AM

adrianoturtini wrote: »

I!!!8217;ve have twice applied to NRAM about PPI myself, on both occasions they informed me they have no record of being sold PPI.

I have since used a PPI claims company, and it turns out I was sold PPI, not only that, but I would had been put on a higher rate of interest because I !!!8220;took!!!8221; this insurance.

If you've already complained (twice) and been told the Bank no longer have records of your PPI, why did you think a Claim Company would be somehow able to magic some up? CMC's have no special investigatory powers and do nothing you cannot do yourself alone and for free.

In addition, why would you pay a higher rate of interest simply because you had PPI? If the Claim Company have told you the PPI was "hidden" in the interest then that is NOT correct.

I wouldn't hold your breath on this one. I strongly suspect the Bank will simply tell you for a third time that they still have no records.

A further warning; if you haven't told the Claim Company that you've complained in the past they will very likely bill you for wasting their time when this comes to light. So tell them now if you haven't already.

societys_child · 12 June 2018 at 10:30AM

I have since used a PPI claims company, and it turns out I was sold PPI, not only that, but I would had been put on a higher rate of interest because I !!!8220;took!!!8221; this insurance.

. . . and you actually believe that?

I didn!!!8217;t know I had it but made my claim after working out my monthly payments didn!!!8217;t add up with the amount borrowed and the interest rate

PPI payments wouldn't be included in the mortgage repayments.
Who is this wonderful PPI claims company?

dunstonh · 12 June 2018 at 10:41AM

I!!!8217;ve have twice applied to NRAM about PPI myself, on both occasions they informed me they have no record of being sold PPI.

Most NR mortgages were put in place by brokers. If yours was, NRAM wouldnt know what insurances you bought.

I have since used a PPI claims company, and it turns out I was sold PPI, not only that, but I would had been put on a higher rate of interest because I !!!8220;took!!!8221; this insurance.

NR did no such thing. That smells like BS. NR interest rates were the same whether you took insurance with them or not.

I!!!8217;m waiting to hear if they agree I was missold it

And has any evidence of this PPI been given to you by the CMC? Like, how much was the direct debit you were paying for the MPPI? Or the insurance company it is with?

Nram PPI claim rejected but WAS missold

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