Dear STW Oracle

I took my first mortgage out with Abbey National* back in 1995ish and was sold PPI… Now I remember this, as it was something I probably wanted, but I was definitely not told that the cost of it was added to the mortgage (so paying interest on it) and got a feeling it was compulsory …. But guess I would say that !!

So what are my chances of a refund… bearing in mind I’m not sure of the actual date it was taken out, let alone having a policy number.

The mortgage was paid off/changed lender in 2000

Do you guys have any advice please

Would using a claims company be the best idea, even if they take their 25%

Cheers all

* It was a blooming endowment as well

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Follow that and see what comes.

Thanks I have read the top google search result already.

I was hoping someone here might have some experience of making a successful claim

Don’t use a claims company – they don’t add anything. Just follow the advice that Drac posted up.

Look on the Santander website, there’ll be a page with all the information you need to make the claim yourself.

Don’t pay a claims company, they’ll charge you 25%+ for something that you can do for the price of a couple of stamps.

The overriding rule in this type of thing is that if the claim you are making is over 6 years old. You need to be able to produce the original agreement to the lenders. If you can just fill in the ppi claim form on the company website (search Abbey / santander complaints) if you can’t then they don’t have to look at the complaint so you have little prospect of success.

NJA … that’s exactly why I thought using a claims company might be the better option.

I, with my limited knowledge and evidence, can be fobbed off.

A claims company might do better for getting a claim (75% of something is better than nowt) for someone of my circumstances.

6 years isn’t that long ago … anyone claimed for before that?

I will own up to being a director of a claims company. We do PPI claims, but prefer to deal with pension and investment mis selling claims. If you really feel the need to use a claims company then my email is in my profile. http://Www.fairadvice.co.uk is our website.

Thanks I have read the top google search result already.

Sorry thought you’d not looked as you were asking about using a claims company.

If you really feel the need to use a claims company then my email is in my profile.

Can’t see it ?

Nick dot ash at will-probate.co.uk profile edited now.

Drac .. no worries dude… should have explained myself further, but didnt wanna ramble.

NJA… tell us you charge 25% and I’ll fire across all the info I have (which isn’t much at the moment, but I’ll do some digging over the weekend)

Yes 25% on a no win no fee basis. Happy to have a look at it for you.

Interesting – I’d never really thought about this before, but when I took out a mortgage ~8 years ago I was told that loan was basically contingent on taking out critical illness cover, specifically to cover the mortgage repayments, at the same time from the bank. Does that constitute a form of PPI on the mortgage?

Aren’t the companies now required to write to you if you took any PPI out with them and do the investigation themselves?
I never took out PPI but both the wife and I have recently had letters from CPP saying that we may have had PPI (because historically we both had cards that used CPP as the insurer) and if so, they will write to us again to tell us if we are entitled to compensation.

There has been a financial conduct authority ruling on CPP relating to mis selling insurance on credit cards.http://www.fca.org.uk/news/consumer-redress-agreed-for-mis-sold-cpp-insurance
This is probably why you have received letters.

Critical illness cover is probably part of a life insurance policy. It’s only mis selling if they forced you to have it as a condition of the mortgage and you didn’t need it. If it was just a part of the advice and you took it up then you probably won’t have much of a claim.

Before I waste your time NJA

The mortgage was for less then 45k over about 5 years and… here is the thing… a joint one between me and an ex. Who is long gone and well forgotten.

Joint mortgage, would mean a joint claim – you could bring it (assuming the mortgage was held jointly and severally) but if you were both covered any redress paid would be split 50/50 between you and the ex. The ex would have to sign at the end to accept the redress (assuming we were successful) so no chance of flying under the radar I’m afraid.

If the cover was just for you the benefit from any claim should go to you. Although we have had cases where an ex finds out and tries to claim a share.

As far as the redress goes, it would be a maximum of the monthly insurance premiums paid multiplied by the number of months paid plus statutory interest of 8% per annum. So it can add up.

Both parties have to sign to accept redress because acceptance of redress normally involves giving up ‘referral rights’ and future claims as part of a full and final settlement of the claim.