Melbourne Mortgages

[maryneedshelp]

Hello I found and joined here today,I am in need of help with Melbourne Mortgages. I will try my best here In November 2003 we took a secured loan for £21,000.00 + The PPI of £2,365.00 over 180 mts We paid the loan out in full on January 2006 A grand total of £31,203.16 We have just really found out about all this PPI and miss selling so I found our old paperwork and wrote back and forth to Prestige who seem to use Melbourne as another name for their company Every thing was ok untill I asked for our PPI back + all these charges They have now informed me that we used a broker called the Black & White group and it is them we have to go looking for and it has nothing to do with ether Melbourne or Prestige But the only paper work we ever had is the Credit Agreement regulated by the Consumer Credit Act 1974 which says the lender Prestige Finance Ltd ( the lender which expression shall include its successors in title ) is in brackets.
Can any one help or tell me what I do now as I have come stuck and unsure what to do. Thank You all who look at this as it may be a little long winded.
maryneedshelp

[TUTTSI]

Re: Melbourne Mortgages

Hiya Mary

We are with Melbourne for our sins and who sometimes are reffered to as Prestige and they are a difficult company to deal with. They have added an incredible amount of charges to our account which we will get back in due course. We do not have PPI as being self employed we would not be covered under most policies.

Do you actually pay the PPI direct to Melbourne as I would have thought it is paid with your Mortgage payment? If this is the case if they collect the money they must repay it. If it is paid separetely to another insurance company then you must contact that broker and ask for details of that insurance company to write to. If it comes back that it is Melbourne which I suspect it is, then you must give them one final letter before you can pass this to the FOS.

Is interest added to the mortgage for the PPI?

Do you have the original mortgage agreement and does it refer to the PPI and the payments?

Well the charges are still recoverable from Melbourne in any event so you do need to write a final letter to them advising that you want the return of the mortgage charges + interest and if they fail to deal with this you will be asking the FOS to intervene.
Tuttsi

ps here is my Melbourne thread if you want to have a read.Melbourne Mortgages-help Needed - Legal Beagles Consumer Forum

[maryneedshelp]

Re: Melbourne Mortgages

Thank you our ppi was a one of payment upfront as far as we know it was to melbourne as was all payments.

[TUTTSI]

Re: Melbourne Mortgages

Then if Melbourne received the money from you for the PPI then they are the ones who will have to return you the repayment + interest.

[maryneedshelp]

Re: Melbourne Mortgages

Tuttsi x Thank You for the info I will keep you posted.also the interest for the ppi is on the agreement
maryneedshelp

[booboo1]

Re: Melbourne Mortgages

I'M NOT SURE i QUITE FOLLOW. YOU STATED THAT YOU TOOK OUT A SECURED LOAN IN 2001 WHICH HAD PPI INCLUDED, YOU HAVE SINCE REPAID THE LOAN. YOU HAVE RECENTLY FOUND OUT ABOUT 'ALL THIS PPI & MIS-SELLING' AND ARE NOW TRYING TO RECLAIM THE COST OF THE PPI INSURANCE PLUS INTEREST.
THE REASON i DON'T FOLLOW IS BECAUSE AT NO TIME HAVE YOU TOLD US WHAT YOUR GROUNDS FOR MIS-SELLING THE INSURANCE ARE? WHY WAS IT MIS-SOLD?

I'M ALL FOR CLAIMING AGAINST BAD ADVICE & RECEIVING COMPENSATION, HOWEVER I DON'T THINK PEOPLE EVER THINK ABOUT THE POOR SHMO THAT MAY HAVE GIVEN YOU CORRECT ADVICE THAT YOU ARE NOW TRYING TO SCREW OVER.

[pompeyfaith]

Re: Melbourne Mortgages

Well for starters the loan was over 180 mths so that could be a mis-selling point as very few PPI policies cover you for more than 60 mths so she will carry on paying interest on this policy after it has run out.

I am yet to hear of a PPI seller that will tell you that you will be paying for it long after it has ended.

PF
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So whats it say the period of cover is for Ill bet its 5 yrs.

PF
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£2,365.00

Yup that looks very much like a 5 yr policy and looks like you paid a lot of interest too.

PF
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Latest FSA report released today

http://www.fsa.gov.uk/pages/Library/...2010/132.shtml

http://www.fsa.gov.uk/pubs/policy/ps10_12.pdf

PF

[maryneedshelp]

Re: Melbourne Mortgages

This ppi is being claimed back BooBoo1 is we were told we had to have it or no loan and also my husband was self-employed,We are not jumping on a band wagon like you comment seems to sug here.

[TUTTSI]

Re: Melbourne Mortgages

I am not sure that Booboo's comments were relevant to you personally, I think he is a broker that his pocket is hurting from his comments. Take no notice.

How are you doing with your claim?

This ppi is being claimed back BooBoo1 is we were told we had to have it or no loan and also my husband was self-employed,We are not jumping on a band wagon like you comment seems to sug here.

[maryneedshelp]

Re: Melbourne Mortgages

I have now sent another letter to them ( Melbourne ) to claim unfair charges and also why did I pay everything to them. I will let you know what happens.
Thank You.

[maryneedshelp]

Re: Melbourne Mortgages

I still have had no answer from Melbourne I am now thinking of asking the papers the like of THE SUN to look into Melbourne and GE Money as We are also getting told no truths from them ( GE ) as well. Has any one do you know of went to the papers about the way these companys are treating past and present customers. ?

[TUTTSI]

Re: Melbourne Mortgages

Hi Mary

I think you should do a FINAL letter before action and send it by recorded delivery and allow them 7 or 10 days to respond. Melbourne are in Bushey Herts do you have the correct address?

I am not sure about GE Money's address.

We do have some contacts with the media here on Legal Beagles and I did have the contact details for Guy Anker who writes for Money Mail and he has been pro active on these type of issues.

They have to respond to you and if after a final warning they do not respond they deserve any route you want to take them to including the FOS who will take this up for you. A complaint to the FSA who regulate them would not go amiss as well.

Tuttsi x

I still have had no answer from Melbourne I am now thinking of asking the papers the like of THE SUN to look into Melbourne and GE Money as We are also getting told no truths from them ( GE ) as well. Has any one do you know of went to the papers about the way these companys are treating past and present customers. ?

[pompeyfaith]

Re: Melbourne Mortgages

if it was a broker that arranged this for you, you can bet that a commission was paid to the broker and that it was charged to you and hidden in the agreement so you want that back too

Dont worry about the broker as they reap what they sow
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do you have the agreement can you post up the figures then i can work it out for you using the calculator as used by the fsa

[maryneedshelp]

Re: Melbourne Mortgages

Yes I will get these and post them up. Many Thanks for the help here .

[maryneedshelp]

Re: Melbourne Mortgages

I am now posting the last letter + agreement from Melbourne / Prestige I am very down over this but I will fight them all the way as they are like GE Money who just con people I will not let this drop and will get M.P. etc and others involved as the FOS do not really do a lot by what I have read.