Original mortgage firm taken over - new mortgage firm wants 25% of my PPI refund!

[macdoituk]

Have already posted the following - please forgive - I'm a novice...and hello to everyone, your input is much appreciated!
.................................................. .................................................. .................................................. ..................

My original mortgage firm has been taken over by another firm.
Recently I discovered that I am due a sizeable PPI refund from my account with them.
The new firm say they will give me my refund, but only after they have taken 25% of the total amount.
Is this legal?
If not, what is it that I need to say or write to them to release the full amount I am due?


Many thanks.

[Inca]

Re: Original mortgage firm taken over - new mortgage firm wants 25% of my PPI refund!

Hiya macdoituk,,,,Turboman should be along to help you shortly

[Turboman]

Re: Original mortgage firm taken over - new mortgage firm wants 25% of my PPI refund!

Thanks Inca

Thats not right----its only the Claims Mgt Companies who charge you for sorting out your claim--if you employ them to do so in the first instance

How did you get to the stage of establishing that you got agreement that PPI is going to be paid back to you?

For maximum input-have pm'd my colleague Di30 too

[Inca]

Re: Original mortgage firm taken over - new mortgage firm wants 25% of my PPI refund!

Thanks Turbs x

[di30]

Re: Original mortgage firm taken over - new mortgage firm wants 25% of my PPI refund!

Have already posted the following - please forgive - I'm a novice...and hello to everyone, your input is much appreciated!
.................................................. .................................................. .................................................. ..................

My original mortgage firm has been taken over by another firm.
Recently I discovered that I am due a sizeable PPI refund from my account with them.
The new firm say they will give me my refund, but only after they have taken 25% of the total amount.
Is this legal?
If not, what is it that I need to say or write to them to release the full amount I am due?


Many thanks.

Cheers Turbo

Hi there

When you say mortgage firm, do you mean another mortgage company has taken over from the original lender? Or you have used a claims company to help you make a reclaim on the ppi?
Sorry if I have mis-understood.

Turbo is correct in what he says, that does not sound right, if a new mortgage lender.

I would write and ask them on why you should have to pay 25% or anything at all on a refund that is rightfully due back to you, and question why should they be entitled to anything, afterall you have rightfully made a reclaim on the PPI that you believe you were mis sold.
(That's if its the lender stating this).

If a claims company, do you mind telling us who this is please? As it may also be the same case for others on here too.

Cheers.

[macdoituk]

Re: Original mortgage firm taken over - new mortgage firm wants 25% of my PPI refund!

Thanks so much for the previous info everyone.
Seems I got my facts slightly wrong, as Dizzy Di may have suspected.
The company that I thought was the new mortgage company is actually a PPI claim firm, and of course they want their 25%.
My original mortgage company was SPML Mortgage. I was steered into using them by the brokerage firm MMSC Ltd. Both now seem to be out of business.
If I may, I have three questions:

(1) Am I still able to claim the PPI refund due me from SPML Mortgage without using a PPI claim company?
(2) Am I able to claim damages from the brokerage firm MMSC Ltd for their lack of diligence?
(3) Is there government support for past customers of SPML Mortgage and MMSC Ltd?

Many thanks.