How do you think Welcome Finance will reply to this letter ?

[andie_303]

Reading this as Welcome would they will just cancel the policy and credit the reamining payments to your account - should you not be asking for the premiums you have paid so far back as well. Remember you should also be asking for catractual interest, statutory interest and compensation.

[andie_303]

No I'm saying your not asking for a refund properly

 

Your letter reads that you would like to cancel your insurance - it does not make clear you are alleging the policy was mis-sold and therefore wanting all the prmiums paid back.

 

You need to be more clear here as Welcome will likely just cancel your policy and refund future premiums not the ones you have already paid.

 

You also need to work out the amount that you request back so you know exactly how much you are owed.

 

You also need to put in your letter that you request ALL premiums refunded AS WELL AS interest both statutory i.e. the interest you have been charged and contractual i.e. for you losing the benefit of that money and compensation for your inconvinience.

 

And i'm a she by the way

[andie_303]

Try something like this instead

 

Dear Sir/Madam,

 

Re: Agreement Number

 

I purchased the above policies from you in connection with the loans referenced above.

I believe that I was mis-sold these policies for the reason(s) given below, and wish you to investigate my complaint according to your normal complaint procedures.

 

The policy exclusions weren’t explained to me before or at the time I took out the insurance. I was therefore unable to make an informed decision as to whether this insurance was appropriate for me.

 

It was not explained to myself that the insurances were optional and infact I was instructed by your agent that obtaining the loan relied on taking out insurances.

 

The cost of a single-premium front loaded policy was never fully explained to myself nor was a sufficient needs and demands questionnaire completed by myself to assess whether the products being sold were suitable.

 

I am also now aware that your sales advisors receive commision upon the sale of insurance products and therefore their actions cannot be impartial. This should have been made clear to myself at the time of the insurance being sold.

 

Please now investigate my complaint within the eight weeks allowed to you. I expect that you will uphold my complaint and refund all premiums paid plus both statutory and compound interest and compensation.

 

If I have not recieved a satisfactory response within 8 weeks I will forward my complaint to the small claims court where you may be liable for my costs incurred.

 

 

 

Yours Faithfully

[andie_303]

Exactly and had they done a proper needs and demands they would have known this.

 

But i've seen the comissions they get on insurance products and believe me they sell them cos they are a bloody good rate. If your insrances were say £2k in total the commision paid is somewhere between 20-25% so why wouldn't a sales person be told to push them????

 

Don't go into chapter and verse in your letter to them - just give them your basic reasons and leave them to do the rest otherwise they will try and get you to say a number of different things to get out of it.

 

Welcome are notorious - and they hate me as I have discovered a lot of illegal activity whilst researching my own PPI against them.

 

Make sure you don't sign any letters you send them they are also quite good with cut and paste on photoshop!!

 

the scales are next to the red triangle in the bottom left corner of my posts

[andie_303]

believe me Welcome Finance are under investigation from a number of organisations including the serious fraud squad. Welcome are in mighty big trouble so get your claim in quick!

[andie_303]

unless your mortgage is with Welcome you will have no probs - you should have a version of PPI with your mortgage - generally if you are with a reputable mortgage company there will be no issues - it's just Welcome and the like