central trust

[leslieb]

Hi, I was just wondering if anybody thought that I had a decent case. I took out a mortgage with central trust for £20,000.00 in 2006. I had ppi on this but do not think that it was explained clearly the ppi was a single premium policy which lasted for five years this cost an extra £2200.00. I settled the mortgage early 2008. I have recently read the paperwork regarding this mortgage after requesting a copy of the agreement and decided to call central trust I was informed that the policy for the ppi was still in force and that I could cancel it now which I have done. However, I cannot back date the claim to when I settled the mortgage and if I had continued with the mortgage I would have needed to purchaase further policies which at central trust amounts would have amounted £11,000 on a £20,000 mortgage this seems an extortionate amount. Does it sound like this policy was mis-sold? thank you from someone very confused

[pinknico]

Re: central trust

I would write to Central Trust and say you believe you were mis sold this policy as the fact it was a single premium policy and only lasted 5 years. Did they give figures with and without interest?

In any case with a single premium and only covering 5 years you have a good case even if you have to take it to the FOS.

[leslieb]

Re: central trust

Hi Pinknico

thank you for your response, the only figure they gave was the amount the policy was for and that it would attract interest at the same rate of the mortgage. however, they did send me a key facts illustration does this help their case?

many thanks

leslieb

[pinknico]

Re: central trust

I think you just need to go for the mis sell as single premium and five years as you could have got this as a monthly premium and cheaper and take it from there.