ppi help

[ppi idiot]

hello:beagle:if you paid a loan off that had piggybacked ppi on, with a mortgage which cost more because ppi was
added to the earlier loans, would you be entitled to reclaim extra in the event of a ppi reclaim, for the early loans,
the mortgage is still being paid and cost far more ?

[leclerc]

Re: ppi help

You can claim the PPI but was there also PPI on the mortgage as well?

[ppi idiot]

Re: ppi help

no do not think so but still checking ,but point is bank arranged everything,so mortgage cost more all because of ppi in the first place,
bank will only refund the ppi reclaim, and not the extra burden it as put on my mortgage talking thousands over several years ,i am out of
pocket, through miss sold ppi. even after a reclaim.

[leclerc]

Re: ppi help

I'm afraid I agree with the bank on this issue. The PPI would have been cancelled at the time the mortgage was taken out and the PPI rebate and loan rebates would have covered the payments. I don't agree that the loan settlements were higher because of the PPI. The loans were taken out by yourself were clearly for a reason and would have increased each time. Normally amalgamating loans into the mortgage would have reduced the overall payback because the Mortgage interest would have been lower than a standard loan.

Another question I would ask is about whether you had a packaged account(so called benefits from an account with a cost per month)? That might be worth looking at due to the elements of insurance that you had and that might lead to further reclaiming.

I don't think you will be successful pursuing a case in regards to the fact that you believe that the mortgage cost more because of the PPI rather than the fact that the mortgage might have cost more due to an increase in lending due to the loans themselves being taken out. Let me put it this way, the bank has acknowledged that the PPI is missold so will repay that amount. If that amount is significant ie 5k+ then can you pay that onto your mortgage therefore reducing the amount of money left on the mortgage?

[ppi idiot]

Re: ppi help

yes i agree .but over 5yrs later,i have paid interest on that 5k which is about right, but because its over 12yrs,the money i have paid was all interest or most of it ,so that money i have lost ,because interest is per year x 12 which is far more.

[leclerc]

Re: ppi help

yes i agree .but over 5yrs later,i have paid interest on that 5k which is about right, but because its over 12yrs,the money i have paid was all interest or most of it ,so that money i have lost ,because interest is per year x 12 which is far more.

And if the loans were paid back early then the interest was rebated to the point it was paid off.

To be honest, I can understand your annoyance but winning an amount back on PPI is a win and I don't think you can argue further to get more money out of the bank to be honest.

[ppi idiot]

Re: ppi help

yes its not worth it, thank you good advice.