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Hi all I hope I've put this in the correct section.
I took out a secured loan (2nd Mortgage) with FP in 2003 for £55,000 they added PPI l£13,469.50 and the grand total = £68,469.50 WOW. This was a 20 year term to consolidate debts following an extension and a rogue builder. Looking back I can't believe that I did this but hindsight = 20/20 vision and all that.
The house and mortgage is in my name but FirstPlus adviser told me that I stood better chance of getting the loan if my partner was on the loan.
I reclaimed the PPI through the FOS in around 2008 and FOS ordered them to restructure the loan and put it back into a position that I would have been without the PPI.
Along the way there have been a couple of late payments and a payment holiday which I know would have attracted charges and interest.
I went back to FOS and complained that I believed that my partners name should not be on the loan as she was unemployed at the time and has no way of picking up the payments should something happen to me but I was unsuccessful: a) because i'd left it too long to complain and b) FP needed protect their debt and have someone else to go after.
I asked for settlement figure recently and have been told that there is 5 years left and £35,000 more to pay???
Maths isn't my strong point but I would have paid them at least £120,000 which is a lot more than the principle sum.
I have done a SAR and am waiting for it's arrival but I think that there is something fishy going on. I also believe that it may have been miss sold due to their lies at the beginning regarding my partner and the PPI.
I have searched this and other forums and there are threads that start but there is no conclusion so quite lost as to what I should be looking out for when I receive the paperwork(disc) and any advice would be really useful.
I took out a secured loan (2nd Mortgage) with FP in 2003 for £55,000 they added PPI l£13,469.50 and the grand total = £68,469.50 WOW. This was a 20 year term to consolidate debts following an extension and a rogue builder. Looking back I can't believe that I did this but hindsight = 20/20 vision and all that.
The house and mortgage is in my name but FirstPlus adviser told me that I stood better chance of getting the loan if my partner was on the loan.
I reclaimed the PPI through the FOS in around 2008 and FOS ordered them to restructure the loan and put it back into a position that I would have been without the PPI.
Along the way there have been a couple of late payments and a payment holiday which I know would have attracted charges and interest.
I went back to FOS and complained that I believed that my partners name should not be on the loan as she was unemployed at the time and has no way of picking up the payments should something happen to me but I was unsuccessful: a) because i'd left it too long to complain and b) FP needed protect their debt and have someone else to go after.
I asked for settlement figure recently and have been told that there is 5 years left and £35,000 more to pay???
Maths isn't my strong point but I would have paid them at least £120,000 which is a lot more than the principle sum.
I have done a SAR and am waiting for it's arrival but I think that there is something fishy going on. I also believe that it may have been miss sold due to their lies at the beginning regarding my partner and the PPI.
I have searched this and other forums and there are threads that start but there is no conclusion so quite lost as to what I should be looking out for when I receive the paperwork(disc) and any advice would be really useful.
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