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  1. Hi all, I would be grateful of some advice on the following situation. Over the previous few years I have been claiming back PPI on 2 loans from Lloyds Bank taken out in Feb 2001 (£10,000) and Feb 2002 (£20,400), the second of which was a refinancing loan which replaced the first, and which was settled in Oct 2005. I previously started a reclaim on the second loan in 2009 and this was upheld by the FOS, resulting in a refund of £7947. I did not challenge this figure as at the time I did not believe that it may be inaccurate, so I signed the FOS acceptance and payment was eventually made. This was broken down as: Refund of ppi installments £3909 Difference in settlement figures £1506 Interest @ 8% £2332 Compensation £200 Once this had been settled, I started a reclaim on the initial loan. Again, Lloyds dragged their heels, initially rejecting the claim and allowing this to drag on for several month. Fast forward to November 2010, when they finally caved in and agreed to refund me. However, on looking at the settlement figures, I was concerned that they were incorrect, so asked for a full breakdown of the calculations. They refused, so I referred it to the Ombudsman for them to check over. Move forward to the present time, and the FOS are now finally looking at it. When Lloyds agreed to a refund on loan 1, they said they would refund all premiums paid plus the difference between the actual settlement figure, and what it would have been if the ppi hadn't been taken out. This is what I signed for on the settlement form, and what they had also done on the previously reclaimed loan. However, what I received was a refund of all premiums paid, plus excess balance interest from the refinanced loan (loan 2). There was no mention of the payment for the difference between the actual settlement and no ppi settlement. Therefore it seems that Lloyds never realised that the loan had been refinanced when they offered their initial settlement, and because of this, their offer changed. There offer was: Refund of premiums £378 + £86 interest + £346 8% stat interest = £810 Excess balance interest £2,184 inc stat interest Total £2994 This is now what is with the FOS. I have now received an offer from Lloyds with an additional payment of £2127, but it again refers to the refinancing loan and not the original loan, although the reference does relate to the original loan. Again, it is for excess balance interest and is made because there was an error in their original calculation. CONFUSED:-x:-x:-x:-x:-x I have all the figures to hand for all refunds paid so far for both loans, so I would be very grateful if someone could see whether everything tallys or if they are playing games with me. Loan 1 £10,000 taken out in Feb 2001 over 60 month with additional ppi of £2066. Payments ran for 11 month with total ppi payments of £378 over that time. The closing balance of the loan was £10,220 which was transferred to the new loan. No ppi rebate was given!!! This was refinanced in Feb 2002 with loan 2 for £20,400 with additional ppi of £4327. Payments on this loan ran for 43 month with total ppi payments of £3,909 until the loan was settled in full in 2005. A ppi rebate of £311 was applied to the account and I paid £8,021 to settle. What I would like to know is are the refunds accurate and should I accept their new offer. I think the confusion has arisen because I reclaimed each loan separately and not as one big roll over loan, and the FOS redress seems difference for rollover loans compared to single loans. Sorry for the long post, but i'd be grateful if someone could look at the figures as this is confusing me no end. Many Thanks, MP.
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