New PPI/Commissions claims.........maybe???

[di30]

Interesting,
I bet this happened with many of us, some of mine where I found out later within a SAR's of the secret commission amounts, it was in the thousands !!! It was never discussed through or after the applications of these loans done by brokers.
I also understand that it can still apply even if you have been successful with claiming on the actual ppi.

So now we just have to wait and see what happens over the following months then...


http://www.mortgagesolutions.co.uk/m...nder-berkeley#

[di30]

Re: New PPI/Commissions claims.........maybe???

http://www.standard.co.uk/business/b...-10277984.html

PPI ruling may trigger a landslide of fresh mis-selling claims



The City Watchdog could be forced to introduce new rules around PPI mis-selling complaints following a landmark court ruling.

It could open the door to a landslide of fresh claims for compensation, even for those who have already been paid out for being flogged the often useless and expensive insurance.
The latest wrinkle to the scandal – which has already cost Britain’s banks an estimated £24 billion – centres on commission payments to lenders and advisers.


In November, the Supreme Court ruled in the Plevin v Paragon case that failing to disclose commission made the relationship between lender and borrower unfair.
Susan Plevin, a 59-year old college lecturer, was charged £5,780 as an upfront PPI premium on a £39,870 loan.
But almost three-quarters – 71.8% – of the premium was commission, with credit broker LLP Processing receiving £1,870 and lender Paragon getting £2,280.


Plevin was not told about the commission and took proceedings against the two firms in 2009 for mis-selling because the policy was useless for her, but also on the basis that the PPI agreement was unfair because of the non-disclosure of the commissions.


Because LLB went bust, she was paid £3,000 from the Financial Services Compensation Scheme but the case against Paragon continued through the court until last year’s ruling.
The Supreme Court’s Lord Sumption ruled that failing to disclose commissions led to a “sufficiently extreme inequality of knowledge and understanding”.

The Financial Conduct Authority has been considering whether it needs to introduce additional rules and, ahead of its next PPI update expected in July, has divulged its considerations to the market today.
It refused to be drawn on the potential impact on past compensation payouts just confirming it will be holding talks with “relevant stakeholders” over the next few months.

[John7005]

Re: New PPI/Commissions claims.........maybe???

Hi di, can i have copy of your letter to Genworth financial underwriter.please.

[skintmember]

Re: New PPI/Commissions claims.........maybe???

Hi Di,
could I pick your brains
i found an old copy of my husbands loan agreement 2000 and the loan was refinanced but nearly all the loan, well it says all the loan was taken up to pay the previous one.
on it says hand written it says + C/9 ,
it's been driving me crazy yesterday I found out it is commission.

as it was a copy for his divorce it says underneath the agreement
was home improvements.
the thing is the home improvements loan was taken out the year before .
There's a figure of £900 Written in the same hand writing.
His SARS didn't produce any loan agreements or terms but say
three account numbers. The loan agreement dates

but they don't match what the copy loan agreement says,
apparently the loan in question was paid off three months before he signed the agreement. Is it normal for them to try confuse you or have they sold him a futures loan agreement and are they allowed to do this?
Any advice would be appreciated.
:beagle:

[Quasar]

Re: New PPI/Commissions claims.........maybe???

So.... will i be able to claim more on and already successful PPI claims.

I have won PPI reclaim against Barclays, MBNA, and EGG