Melbourne Mortgages

Re: Melbourne Mortgages

Are Premier Writers connected in any way with Melbourne or Prestige?
Did Melbourne/Prestige earn any commission from this policy?
Here is a link to Premier Writers:-
http://www.google.co.uk/url?sa=t&sou...hMd8sKN9DTxDyQ


Tuttsi

Thank You it was a single payment at the start for £2,365.00 and I have just found out it was only for the first 3yrs of the loan and the company was Premier Writers

[maryneedshelp]

Re: Melbourne Mortgages

Thank You it was a single payment at the start for £2,365.00 and I have just found out it was only for the first 3yrs of the loan and the company was Premier Writers

Re: Melbourne Mortgages

Hi Mary

They took the money + they charged you interest I take it?

They also charged you various charges during the term of the mortgage?

You can contact F.S.C.S as they suggest I will put the link in. http://www.google.co.uk/url?url=http...7Fni15UKcutp9Q

Also, you can also take your complaint to the FOS as they will get Melbourbe to refund any charges which were excessive as I am sure you received a few of these during your time with Melbourne. You can also tell the FOS that they collected all the PPI payments + interest and you can give the FOS a copy of the letter in which they are saying that they were not responsible and are putting the blame at the brokers door and the fact that they have gone broke. In any event you have to be compensated and the FOS will sort this for you. Melbourne have not said that they paid the money over to the Broker, so who knows who has this money which Melbourne collected directly from you.

Hi, I got a recorded letter back today from Prestige / Melbourne.
It is saying .There appears to be some confusion as to the process your loan followed so may I take this opportunity to clarify this.
Black & White was acting as your broker and on receiving your loan application would have reviewed their panel of lenders to find the most suitable for you.
As a result of this Prestige advised them we would proceed with your loan.
Black & White then went on to telephone you with a quotation that included insurance which they did as a completely independent firm ( this I do not remember if they did or not )
Prestige is not required to or in fact able to accept resonsibility for an insurance sale that was not conducted by or company.
We are aware that Black & White are no longer trading and it is for that reason you should contact F.S.C.S.
With regards to your request for documentation you will see from the signed agreement no broker fee was paid by you in this instance therefore we are not sure what you mean by extra charges.
Finally in relation to your allegation that we have in some way been party to fraudulent behaviour,we strongly advise that this is certainly not the case.
We trust this clarifires the situation and now brings this matter to a close.

So do I now go for the insurance company. I am now lost.

[maryneedshelp]

Re: Melbourne Mortgages

Hi, I got a recorded letter back today from Prestige / Melbourne.
It is saying .There appears to be some confusion as to the process your loan followed so may I take this opportunity to clarify this.
Black & White was acting as your broker and on receiving your loan application would have reviewed their panel of lenders to find the most suitable for you.
As a result of this Prestige advised them we would proceed with your loan.
Black & White then went on to telephone you with a quotation that included insurance which they did as a completely independent firm ( this I do not remember if they did or not )
Prestige is not required to or in fact able to accept resonsibility for an insurance sale that was not conducted by or company.
We are aware that Black & White are no longer trading and it is for that reason you should contact F.S.C.S.
With regards to your request for documentation you will see from the signed agreement no broker fee was paid by you in this instance therefore we are not sure what you mean by extra charges.
Finally in relation to your allegation that we have in some way been party to fraudulent behaviour,we strongly advise that this is certainly not the case.
We trust this clarifires the situation and now brings this matter to a close.

So do I now go for the insurance company. I am now lost.

[pompeyfaith]

Re: Melbourne Mortgages

Your Welcome.

PF

[maryneedshelp]

Re: Melbourne Mortgages

Thank You so much will keep you updated.

[pompeyfaith]

Re: Melbourne Mortgages

Here you go this sheet has calculated the contractual interest you have paid as well as s69 statutory interest at 8%.

I used the contractual interest rate at 8.50% if this is incorrect let me know and ill update it for you.

It is calculated to today so each day you view it you will need to change the date that's all the figures will auto update

[maryneedshelp]

Re: Melbourne Mortgages

£31,203.16pence was paid as full payment to Melbourne. The ppi was paid upfront at the start of the loan and this £31,203 .16pence was the final charge / payment.
I hope this is clear now.
Thank You.

[pompeyfaith]

Re: Melbourne Mortgages

so you paid 38 monthly payments then paid the loan off but still paid the ppi for the full term even though you no longer needed it ?

[maryneedshelp]

Re: Melbourne Mortgages

No nothing my first post has the full amount paid. This was a one of ppi payment at the start of the loan which they said we had to take or no loan ( me a Mug ) took it.
Thanks

[pompeyfaith]

Re: Melbourne Mortgages

that spreedsheet is just the ppi you have paid thus far with 8% stat interest i need to use another sheet as that one does not take compounded into consideration

When you paid it up early did you get any rebate on the ppi? Did you get a final statement?

[maryneedshelp]

Re: Melbourne Mortgages

I am just wondering is the figures you done on top of the full PPI sorry for sounding stupid
Many Thanks.

[maryneedshelp]

Re: Melbourne Mortgages

Yes I knew about PPI Was told it had to be taken from them They did not say nothing that PPI could have been taken else where at maybe more favourable rate or that it could have been on a monthly basis insteat of a one of payment. ( me naive or what ) It just shows no matter what age we all learn. I would just like to Thank You so far for your help on this matter.

[pompeyfaith]

Re: Melbourne Mortgages

just post up the agreement first removing personal details like this member has done then ill take a look for you PF X

Re: Melbourne Mortgages

That is amazing PF, what do you need from me to do the same?

Here you go, not sure of the actual date of agreement so I've put in the 1st November 2003 for now you can edit this date yourself. :beagle:

Mary

Now is the time for your final letter before action and this should state that if they do not repay the mis-sold PPI, together with the interest they charged you and also the brokers fee and compensation ( add also charges if this is the case) you will have no alternative but to take your claim directly to the FOS and FSA and or through the courts to recover the monies.

Out of interest were you actually aware that you had PPI?

Were you informed that they would be adding this to your loan and did you agree to this?

Were you aware that PPI was included in the price you were paying?

Did the broker make you aware of the above facts?

Did you also have any charges for late payments, bounced DD's etc as this is reclaimable as well and you should mention this if this was the case in your final letter.

If you want to post a draft letter up here we can help you tidy it up.

Tuttsi x

Definately keep on with Melbourne but a final letter and no more letters after that as you must then move forward. The FOS are slow but you will get compensation from them eventually.

Thank you, do I keep on at Melbourne then as they say see letter above. I do not really know where to go from here.