Ppi With London Mortgage Co

[GRIFF27]

Hi everybody
i am new to this site - hope i post correctly.
I am looking for help with ppi claim, it's a bit long winded but i will try to be brief
Took out secured loan in Oct 03 for £15000
Following year 04 received statement which shown loan had reduced .
October 05 statement shows loan Had incresed when i queiried this i was told it was PPI OF £3450 and company had made a mistake not showing this on previous statements
I was told i could not have this removed because i was out of 30 day period for cancelling I truly did not remember agreeing to this so they sent me copy of agreement - ppi box was crossed (by company) and agreement showed :
loan £18450
cash advance £15000
PPI £3450 They also sent letter saying that in phone conversation with myself ppi had been disscussed although it was not explained that it was not refundable.
The date of this letter was march 06 and it stated i had 6 months to contact ombudsman if i was not happy which i did not do
When it broke in news about these policies i used your template letter but have received a reply saying they have already looked at this and are not prepared to investigate further.
What i want to know is it it worth me pursuing this?
1) i am selfemployed and so is my hubby - so policy is wothless
2)It only runs for 5 years which i definately was not told at anytime
3)would the ombudsman look at my case because of previous letter
Sorry this is so long - any help much appreciated.

[GRIFF27]

Anybody Who Can Advise Please

[hellhasnofury]

Originally Posted by GRIFF27

Hi everybody
i am new to this site - hope i post correctly.
I am looking for help with ppi claim, it's a bit long winded but i will try to be brief
Took out secured loan in Oct 03 for £15000
Following year 04 received statement which shown loan had reduced .
October 05 statement shows loan Had incresed when i queiried this i was told it was PPI OF £3450 and company had made a mistake not showing this on previous statements
I was told i could not have this removed because i was out of 30 day period for cancelling I truly did not remember agreeing to this so they sent me copy of agreement - ppi box was crossed (by company) and agreement showed :
loan £18450
cash advance £15000
PPI £3450 They also sent letter saying that in phone conversation with myself ppi had been disscussed although it was not explained that it was not refundable.
The date of this letter was march 06 and it stated i had 6 months to contact ombudsman if i was not happy which i did not do
When it broke in news about these policies i used your template letter but have received a reply saying they have already looked at this and are not prepared to investigate further.
What i want to know is it it worth me pursuing this?
1) i am selfemployed and so is my hubby - so policy is wothless
2)It only runs for 5 years which i definately was not told at anytime
3)would the ombudsman look at my case because of previous letter
Sorry this is so long - any help much appreciated.

Hello,

I do think the way they applied the ppi was a bit suspect, but you obviously did not pursue it. So I don't know where you will stand now after not contacting the FOB. Maybe give the FOB a ring for advice.

Maybe have a look at your letter you sent them. Were you just enquiring about when the ppi was applied, Maybe change your tactics as to it being mis-sold etc etc

[GRIFF27]

Thanks for that just found initial letter from London Mortgae Co which states:
"The loan proceeds have been distributed in following way An enclosed cheque for £15000" no mention of PPI
First statement says:
opening balance £15000
interest charged @9.4% apr £1249.06
paymrnts made £2245.00 + balance £14003.50
Again no mention of PPI
Does this make any difference?

[hellhasnofury]

Originally Posted by GRIFF27

Thanks for that just found initial letter from London Mortgae Co which states:
"The loan proceeds have been distributed in following way An enclosed cheque for £15000" no mention of PPI
First statement says:
opening balance £15000
interest charged @9.4% apr £1249.06
paymrnts made £2245.00 + balance £14003.50
Again no mention of PPI
Does this make any difference?

Hello, This does look a bit shady. The figures you have quoted are for the loan and as you state there is no mention of the ppi. It was applied the year after and you have no memory of agreeing to it.

You did question it and they have given their response. Do one of two things here.

Accept what they say in their last letter and do no more. You did prove to them you had accepted it by not pursuing the last time.

Or this time mean business, by that I mean take them to court for this ppi.

Did you send them a Subject Access Request if not do so, you will find the letter in the Bank Template. You want copies of everything. Loan agreement form and all info on the ppi.

If you have that info, sent them a prelim letter there a few in the ppi threads, just amend them to your details,if you get stuck and are unsure just ask. You can post your letter on your thread for comments. Just make sure you edit all personal data such as names and account details.

To be blunt you don't know if you will get anywhere unless you try. It does soound to me like they have tried to pull the wool over your eyes.

It is worth the cost of the Subject Access Request £10 and the cost of recorded delivery.

Good luck and we are all here to help

[GRIFF27]

Many thanks

[nicho1120]

Griff 27,

Just wondered if you had heard anything yet. I have PPi and am wanting to cancel it and some of the points you have made seem similar to what has happened to me. Would be interested in their response.