PPI on Swift Advances mortgage.......***WON***

[landy_alert]

I am about to start trying to reclaim some of the charges and hopefully a portion of the PPI we had with Swift Advances and was wondering whether anyone here could offer any advice please?

 

In November 2007 we paid off a mortgage to Swift Advances (which we took out in June 2006)on the sale of our house which also enabled us to pay our main mortgage with C&G, before buying a new house and becoming MORTGAGE FREE - YIPPEE

 

As we had previously run into difficulties with the repayments to Swift (and had been threatened with repossession, court date set etc, but we paid arrears in full before it came to that), there were extra charges on our final settlement figure from Swift.

 

The amount we borrowed was £58,553 which included £5323 for PPI (single premium I think).

 

The settlement statement reads as follows -

 

Original loan amount £58,553.00

 

Interest charged £13,844.34

 

Less payments received £11,858.75

 

Sub total £60,858.59

 

 

Charges incurred -

 

Court fees £150.00

 

Legal fees £1318.03

 

Post default collection charges £420.00

 

Solicitors charge to attend court hearing £82.25

 

Loan co admin charge-r/d cheque charge £165.00

 

Eastern counselling agency-default charge£360.00

 

Other fees and charges £906.00

 

Sub total £64,259.00

 

Redemption administration fee £250.00

 

Early settlement interest charged £5218.62

 

Settlement figure £69,728.49

 

We expected that there would be an ERC and realise it is unlikely that we would get this back, and understand that they were probably justified in making charges for bounced direct debit/cheque payments, but believe it is wrong that they didn't refund us any of the PPI (???) and were not sure whether they were right to make all those charges regarding a court case for repossession which never took place?

 

Also, we believe we may have a case for mis-selling of PPI as we were led to believe it was a condition of taking out the mortgage with Swift and were not told that as it was a Single Premium we would still be paying interest on the loan and the insurance.

 

We don't seem to have a copy of the original mortgage agreement, although we do have a policy for the PPI, which seems to state that it was only for 3 years, not the 25 which the mortgage was for.

 

We intend to send a Subject Access Request to Swift Advances, but as the account is closed and paid in full are they likely to just ignore the request?

 

Also, as the mortgage was arranged by Norton Finance, is it a good idea to send a copy of the Subject Access Request to them and if so, to whom do we send the £10.00 postal order fee please?

 

Any help and advice would be most welcome, thank you!!!

[pompeyfaith]

Right i would send it to swift but also copy the letter to norton without the £10 fee just mark the norton letter copy as sent to swift.

 

The PPI you have good grounds for a claim.

 

Im not sure about the various court fees as the court side of things is beyond me im sure someone with that knowledge will be along soon to answer that.

 

Regards

 

Pompeyfaith

[landy_alert]

Thanks Pompeyfaith - I will get the letters off to Swift and Norton today and hopefully set the wheels in motion to get some of our money back!

 

Have you any idea how to best work out the interest we would be entitled to reclaim on the PPI?

 

I have looked at a couple of the calculators on here for that purpose, but am finding them a bit complicated - or maybe it's just me, lol!

 

Thanks again,

 

Landy

[pompeyfaith]

Sure can you scan and post the agreement on here removing personal details of course then with the figures and dates and interest rates ill do you an excel spreadsheet.

[landy_alert]

Unfortunately we don't seem to have a copy of the agreement for the actual mortgage - only a scedule for the PPI and the settlement statement

 

I am going to get the scanner out later - haven't used it since since we moved 14 months ago - and check whether it's working ok, as I can see I'm going to be using it a lot in the coming months!

 

(Will also have to learn how to use photobucket!)

 

Back to the mortgage info, at the moment all we have figure wise is what I listed in my first post above - which won't be any help I'm sure........

 

.........will just have to get the old SAR off and await a response!

 

Thanks again,

 

Landy

[landy_alert]

Pompeyfaith if you're still around - I've just thought of something else -

 

Do we need to put anything more specific in the SAR to Swift/Norton, particularly as the mortgage is paid off/account closed etc?

 

Having left out the stuff about the loan accounts to Lloyds, I don't want to miss out anything important to Swift!

 

Also, should we be CCAing them also? I guess so.

 

Thanks for all your help!

[pompeyfaith]

Right do not worry about the PPI amount to claim we will get to that later soon as an agreement shows up as for photobucket here is the tutorial pages which will assist you in using it for the first time

 

Photobucket Tutorials

 

As for your last post do you still know the account numbers if you do quoting this should be sufficient.

 

The S.A.R should go to the organisation that lent the money and copy the S.A.R to the broker does that make sense ?

[landy_alert]

Brilliant - many thanks Pompeyfaith!

 

Have to pop out now, so will get the letter printed out on return and will get in post to them both tomorrow.

 

Landy

[pompeyfaith]

If you want to have a go at photobucket, if you like you scan the letter you are going to send and ill check it for you when you get back.

 

Yes now go out and take a deep breath you will fill so much better for it.

 

Regards

 

Pompeyfaith

[landy_alert]

Pompeyfaith - many thanks for your offer to check the letter for me

 

Have just checked the scanner and the lead is missing, so called Son at uni who said he has the lead there - typical, eh?

 

OH is going to sort through huge box of spare leads later to see if we have another one. In the meantime I am reading up on the photobucket stuff and will start experimenting with it. Will get letter underway, but don't know if I'll be able to scan it tonight now!

 

I have plenty of other stuff to get on with on here though including MBNA who are next on my hit list

 

Regards

 

Landy

[pompeyfaith]

Landy,

 

Ok no problem MBNA arr hehe i can help you there too as im also dealing with MBNA mine is now at court stage.

 

Here is my MBNA thread:

 

http://www.consumeractiongroup.co.uk/forum/legal-issues/151709-help.html

 

My case was in court on the 15/01/2009 but it got adjourned until today the 29/01/2009 due to a court error on the court order(wrong time) anyway the court and optima legal acting for MBNA have not been in contact with me to confirm the date and give instuctions as to how optima want to deal with this so it looks like i will be applying to the court for a strike out.

 

The judge said on the 15th to optima that he recommends that mbna wipe the charges and interest to bring the claim to below £5,000 so it could go to small claims but im now thinking because they have not contacted me and the fact that they have now seen my witness statement which refers to no clause 8 on the agreement plus various other failings they have decided to drop the case.

 

I will let you know tomorrow because im gona phone the court to see whats what.

 

by the way dont hold out much hope of getting an enforceable agreement from MBNA they are terrible at storing documents which is good for you no agreement no debt.

 

Regards

 

Pompeyfaith

[landy_alert]

Thanks Pompeyfaith - will read your MBNA thread with interest!

 

Sounds promising for us if what you say is true regarding their poor record of storing docs!!!

 

Hope it's good news for you tomorrow when you call re your court case.

 

Regards

 

Landy

[pompeyfaith]

Even if they do say they have the docs it will likely be un-enforceable mine fell flat because in the default notice they sent be it was refering to clause 8 but on the agreement there was no clause 8 so in effect they where both defunct.

 

A very good thread on agreements is here:

 

http://www.consumeractiongroup.co.uk/forum/general-debt-issues/162851-consumer-credit-agreements.html

 

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/171037-multiple-agreements-falling-within.html

 

Anyway we will see soon as you get them im sure we can pull them apart somewhere.

[landy_alert]

Just an update on this - having got so bogged down with Lloyds charges and PPI as well as MBNA charges and PPI on two credit cards, not forgetting Sainsbury's loan and credit card, Swift have been on the back burner, so to speak.

 

Today however, I finally got the SAR letter sent off to Swift as well as a copy to Norton, so hopefully now on the road to getting our single premium PPI back:D

[landy_alert]

Hi everyone,

 

Having received our SAR back from Swift and having perused the evidence, I am 99% certain there was no PPI rebate included in our settlement figure......so will be going all out to get this back. Watch this space:D

 

Regards,

 

Landy x

[alanalana]

Firing on all cylinders now landy:D

[pompeyfaith]

wayhay,

 

Get that complaint into the FOS re Lioyds first then get to work on swift

 

PF

[landy_alert]

Hi PF and aa,

 

Am certainly on a bit of a roll at the mo, guys:D

 

Thanks again to you both for your help and advice - don't know what I'd do without it!

 

Regards,

 

Landy x

[alanalana]

PF would probably agree? stay focused and post any issues with copies of docs on photobucket if needed.

 

Help will be at hand

 

aa

[landy_alert]

Thanks again aa:D

 

Have got the letter already to send re:PPI mis-selling but just wanted to confirm who you good peeps think it best to send it to -

 

Swift and copy it to the broker?

 

Broker and copy it to Swift?

 

Or what about the insurance co?

 

I imagine whoever it goes to will pass the buck and deny responsibility, but as Swift didn't include any PPI info in our SAR, I'm wondering if maybe they shouldn't be our first port of call........having said that, we copied the SAR letter to the broker (by recorded delivery of course) and got no acknowledgement that they'd ever received it coupled with the fact that RM track and trace still show it as not delivered over 40 days down the line, so I'm a bit wary about sending anything so important to them:sad:

 

Any advice would be most welcome as always, thank you!

 

Regards,

 

Landy x

[landy_alert]

Hi everyone,

 

Just updating this thread:)

 

I sent the PPI mis-selling letter to both Swift and the broker, but only the broker responded with the 'we're looking into your complaint and will get back to you in 8 weeks' letter. Swift didn't acknowledge the letter at all, so we sent them another (we know they received both letters as we have 'track and traced' them).

 

I have seen other threads where Alanalana has advised that the company to go for for PPI when a broker is also involved is the one that actually signed the agreement. In this case it was Swift. As we have received no response at all from Swift re this matter but the broker is 'looking into' it, I don't know what my next step should be. I can imagine that after 8 weeks the broker will probably come back to us and say it's not their responsibility and then we'll have to start all over again. The weird thing is Swift are responding to the other letters we have sent them:confused:

 

Any help and advice would be most welcome thank you!

 

Regards,

 

Landy x

[alanalana]

Hi everyone,

 

Just updating this thread:)

 

I sent the PPI mis-selling letter to both Swift and the broker, but only the broker responded with the 'we're looking into your complaint and will get back to you in 8 weeks' letter. Swift didn't acknowledge the letter at all, so we sent them another (we know they received both letters as we have 'track and traced' them).

 

I have seen other threads where Alanalana has advised that the company to go for for PPI when a broker is also involved is the one that actually signed the agreement. In this case it was Swift. As we have received no response at all from Swift re this matter but the broker is 'looking into' it, I don't know what my next step should be. I can imagine that after 8 weeks the broker will probably come back to us and say it's not their responsibility and then we'll have to start all over again. The weird thing is Swift are responding to the other letters we have sent them:confused:

 

Any help and advice would be most welcome thank you!

 

Regards,

 

Landy x

 

Landy it is unlikely that the broker will accept responsibility for mis-selling but you never know:eek:

 

 

type in swift to the firm name and hit the submit button to get the FSA results on them.

 

The sooner we have a co-ordinated response to complaints the better:wink:

aa

[landy_alert]

Hi aa:)

 

Thank you - sorry to be dim, but where on the FSA site do I type in the company name to get the results on Swift, please?

 

Thanks again,

 

Landy x

[pompeyfaith]

Swift Finance (UK) Ltd S12 3GL Swift Finance (Uk) Ltd

Swift Advances, Swift Finance, Swift Homeloans, Swift Insurance Services, Swift Mortgages, Swift Solutions Appointed Representative - Former Swift Mortgages BH21 1PA

No longer Authorised Swift Mortgages BH21 1PA

Appointed Representative - Former Swift Mortgages L31 5LJ Nicola Jones Mortgage Solutions

Nicola Glenys Jones Appointed Representative - Former Swift Mortgages (Fareham) Ltd PO16 7BB Swift Mortgages

Appointed Representative Swift Mortgages Ltd L31 5LJ

Appointed Representative - Former Swift Mortgages Services NN4 5AZ

Appointed Representative The Commercial Finance Advisory Service Ltd BN44 3HP

Swift Mortgages, The Mortgage Advisory Service, Wren Mortgages Appointed Representati

 

Thats what i found

[landy_alert]

Hi PF:)

 

Thank you for the info!

 

So what is the best thing to do about Swift just ignoring the letters I have sent - report them to the FSA? Sorry, I'm feeling a bit thick today!

 

It seems that they are avoiding the PPI issue totally as they haven't even acknowledged the 2 letters (despite me knowing they have signed for their receipt) - not even to deny responsibility for the mis-selling, which is what I had expected them to do.

 

Any further advice anyone can offer would be most appreciated, thank you!

 

Regards,

 

Landy x