Thread: HELP im so confused!!

My mum has asked me to look into PPI reclaiming for her, ive spent a good couple of hours here and still none the wiser, its confusing me, I just dont 'get it' !!

She has a mortgage with PPI, was originally taken out with igroup which has been taken over by GE money, they told her she HAD to take out the PPI.

So where do I start? Ive got a copy of the application and the credit agreement here. It doesnt say how much the PPI costs each month? just the total amount and if interest has been added etc...

Im stuck!

does it state on the agreement how mch the PPI costs
when was this taken out

i do hope the ppi was not front loaded

Thanks for quick reply

Cost of cover 2750.00
Taken out 22nd Jan 2004, first payment due 6th Feb 2004.

What does front loaded mean? I assume thats bad.

are we talking a secured loan or a mortage

front loaded means the full cost of the policy is paid up front

that way the debtor gets stung on the apr as its in the amount of credit

Its a re-mortgage.

Right I dont think its front loaded then. This is what ive got...

It lists the mortgage payments and details and then for PPP

PPP amount £2750.00
PPP repayment £5700.00 over the term of the loan (which is 300 months)
Service fees £3000.00
Service repayment £6218.18