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Hi to all,
Just to let you know decided to put the ERC (early redemption charge claim ) on hold for time being.
As for the PPI I have recieved a letter from London mortgage Company saying the had passed my PPI request on to Norton Finance, (didn't even know the insurance was with them as no reference made in any correspondance) same old argeement ie I knew when I signed up etc for the PPI and should have cancelled it within the time limit allowed when I took out the loan. (THE L0AN REPAYMENTS WERE QUOTED TO INCLUDE THE PPI WHEN I TOOK OUT THE LOAN SO THEREFORE A CASE FOR ASSUMPTION ON THEIR BEHALF WAS TAKEN THAT IT WOULD BE INCLUDED. WE ALSO RECEIVED NO EXPLANTION / OR DOCUMENTATION FOR ANY PPI COVER THAT THEY HAVE ELEGIBLE COVERED US FOR.) Also will be lodging a complaint wih the FSA.
I am now in the process of one final letter to see if the acknowledge my claim with a dead line of 14 day fom 9th Feb 07 then I will issue a claim through the courts.
Re my letter sent on 12th Feb 07, received letter back dated 11th Feb 07
Exshasted ever avenue, they are not budging at all same response as last letter.
Will now start a claim throught the courts
PPI is for £5.600 plus interestand cost so far
Total claim £6653.00 Do I have to go fast track ? All help greatly appreciated as not sure what steps to take now
Could anyone please advise step by step action from now on for me
1.Be VERY VERY careful with any legal action against a mortgage company.
2.The mortgage contract could be written such as you would have been obligated to pay the mortgage company's reasonable legal costs.
3.I am saying this from experience that judge in hearing mentioned to me which was very good of him.As I had a dispute regarding the late payment fees and redemption - ERC.
4.However,you may be able to argue that the insurance policy is independent of the mortgage.
5.By the way was the insurance premium added to the mortgage balance?(Iam guessing yes here) to make it a part of the mortgage repayment - no comment.Work it out for yourself.
6.I am resolving my dispute by negotiation rather than litigation because the risks far outweigh the benefits.Judges appreciate this approach because normally there are so many ways/arguments which end up in no result to either party.Failing that the court action would be the last resort.
Which in my view would be frowned on by a judge as both sides could not reach an amicable fair arrangement.
7.You should have redress with the FSA now because misselling of PPI has been referred to the Competition Commission and resulting in several companies being fined.STRIKE WHILE THE IRON IS HOT and it costs you nothing.
8.By the way,which company has underwritten the policy? You may have to sue both the mortgage company and the insurance company.As the mortgage company would be a agent for the insurance company.
9.Also,if the lender sells insurance from one provider it could be possibly argued that this has restricted your choice and not taken your needs into account. Just a thought.
One question for you - did you receive any PPI advice?
The answer to this question should enable me to hopefully assist you further.
Anyway,I hope you find this information useful.
If you need more help,feel free to ask or send me a PM.
London Mortgage Company PPI
I have recieved a letter from London mortgage
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