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I hadn't looked into this before now, but this was something that had previous really annoyed me.
Took a mortgage out in 1997 with the Chelsea BS, and was told by the broker that I had to take PPI or they would refuse it. I didn't think I would be able to claim but it was take it or get no mortgage, so accepted the extra £12 odd a month as just being the price I had to pay to buy a house.
Was made unemployed in around 2000, and requested claim form, when it came it was obvious I couldn't claim, so didn't bother. I rang up a while later to cancel and they told me I couldn't while there were arrears on the account.
In around 2005 I rang again to cancel and the girl said she would, but didn't until I rang again to complain in around 2007.
Forgetting about the fact it was mis-sold, surely I should be able to get the premiums back from at least when they were made aware that I was unemployed and therefore the policy was no good? What do people think?
This is the letter I was going to send, any views please?
Dear Sir/Madam,
Ref – Mortgage account number
In regard to the above account, I believe I was mis-sold the payment protection insurance policy that was in force until a few years ago, and would like to request a full refund of my premiums, plus interest paid.
When I took out the loan, I was told that my application would be refused if I did not also buy a PPI policy. The Financial Services Authority’s advice to consumers is that, while it does not breach FSA guidelines, a borrower should not be refused a loan if they choose not to buy an insurance policy.
I do not believe being forced to buy this policy as part of the loan was a fair and reasonable obligation as I did not need this insurance and said at the time of taking the loan that I did not want it.
In support of this claim I would like to draw to your attention that when I was made unemployed I did not make a claim under the policy as I did not qualify for any benefit through it. In about 2002 I requested you cancel the policy, but I was told by your advisor on the phone I couldn't, even though it was of no benefit to me. Also, from at least 2001 you were fully aware of the fact I was unemployed as the DSS were paying the interest for me, but you still charged me for PPI that I did not require nor could use. In around 2005 I again requested it be cancelled and was told it would be, but it wasn't until around 2007 bwhen I realised this hadn't been done and it was finally cancelled around this time.
I am requesting a full refund of all my insurance payments, plus interest.
If I do not receive a favourable response from you I will pursue this claim through the Financial Ombudsman.
I hadn't looked into this before now, but this was something that had previous really annoyed me.
Took a mortgage out in 1997 with the Chelsea BS, and was told by the broker that I had to take PPI or they would refuse it. I didn't think I would be able to claim but it was take it or get no mortgage, so accepted the extra £12 odd a month as just being the price I had to pay to buy a house.
Was made unemployed in around 2000, and requested claim form, when it came it was obvious I couldn't claim, so didn't bother. I rang up a while later to cancel and they told me I couldn't while there were arrears on the account.
In around 2005 I rang again to cancel and the girl said she would, but didn't until I rang again to complain in around 2007.
Forgetting about the fact it was mis-sold, surely I should be able to get the premiums back from at least when they were made aware that I was unemployed and therefore the policy was no good? What do people think?
This is the letter I was going to send, any views please?
Please see the links in the stickies at the top of this forum. Here is a starter but you will have to research the rest for information that will no doubt be helpful in your claim.
A lot of searching but IMO you could have a valid claim via the Financial Ombudsman Service.
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I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
PPI from Chelsea - any advise please
out in 1997 with the Chelsea BS, and was told by the broker that I had to take PPI
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Originally Posted by colinsunderland
