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Welcome Finance......Again!!


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Hi All,


Firstly please forgive me as im new to forums and this is the first thread i've ever posted. (untill a week ago i didn't know what a thread was).

But i've been reading the posts from people dealing with Unwelcome Finance on this site over the last two weeks.


I'm another one of those people!!


So, i had a welcome car loan for about £4000 in march '06,

Then my partner and i took out a mortgage in May '07 with Preffered via a broker. This mortgage came with a 180 month Welcome loan to make up the shortfall to 100%. The loan was for £16747 on 24/5/07 and paid off the car loan by adding it to the new one.

Then at the end of 2007 (11/12/07) Welcome offered us a top up loan to £27000. We needed the money at the time so agreed and went to the branch to sign the contract and collect the cheque. This loan also paid off the last one by adding...No problems there.


About two or so months ago i recieved a call from a company saying i had a Welcome loan and could be a victim of miselling PPI.

Having never heard of this before i said i was not interested and hung up.

A couple of weeks later another two companies called, just hours apart, stating the same details of PPI miselling. I hung up again but it got me wondering untill a couple of days later another, different company called me with the same.

This time i stayed on the phone exchanging details while they explained they'd be taking 20% of the win based on 'no win no fee'. It seemed a good deal since i know nothing on this subject and did not like the idea of little me facing the might of a finance house in court and so agreed on the phone.


A few weeks later they sent me their details (Alchemy Organisation) along with questionaires to see why i was misold PPI and contracts to be signed that allow them to work on my behalf for 20% of the reclaimed money.


You can breathe a sigh of relief, i did not sign nor return the paperwork.

Instead, i went online and googled away untill i came here to the Consumer Forums and read the posts of people having problems with Welcome Finance.


(So Sorry for anyone reading this thinking "Blah, blah, blah", just don't know if it's relevent or not).


On all 3 loans we recieved PPI and had no idea about it. But, after the car loan was paid off we recieved a cheque out of the blue from welcome for £150 rebate from payment insurance that we didn't know we had. It was a pleasant surprise!

The second mortgage top up loan was arranged via Preffered Mortgages and my broker all we did was sign on the line.

And lastly the third loan that gave us some cash and settled the second loan was signed for in my local branch.


The only clue i have for knowing about PPI was a booklet that was sent to me in the post which i didn't bother looking at as i thought it was freebie i didnt need as i had already arranged PPI through an independent insurance company in order to satisfy the mortgage.


So, Finally....


1. Am i right in thinking i can claim £13219.20 back on my second loan (£68 per month/180 months + 8%)?

2. why is it that though i've always paid the correct amount on time and never missed a payment i now owe over £33000 on my current/third loan that was originally for £27000 when i took it out?

3. Should i cancel the PPI i have running at the moment with them even though it could rouse their suspisions of me building up for a claim?

4. what exactly should i do first?


Please help.

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evening housemnkey

another satisfied welcome customer


first a word of warning

do exactly what i say, do not give any additional info so not to tip them off


take advice from people as welcome are not well liked


first give these people a call


they handle all the welcome micky mouse insurance policies


ask them to send all policy details they have on you


Direct Group - Where Insurance and Innovation Combine - Home Page


send welcome a sar

send to


welcome financial services


ruddington fields business park



ng11 6nz


print your name, never sign


send the sar by recorded delievery and enclose a £10 postel order


welcome then have 40 days to supply all they have on you

thats agreements


every thing

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Thanks Postggj


Shall i wait for the info from Direct Group before requesting the Subject Access Request?


And, where can i find a template letter for requesting the SAR?


Also, Is this requesting info on all 3 of my loans or do i need to send 3 requests out with £10 for each?



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  • 2 weeks later...



Sent SAR request on 25th Aug along with £10 PO.

Called Direct group also and asked for all info they have on me.


26th, got details from Direct on current loan ppi but nothing on previous secured loan or previous car loan.


Today (3rd Sept) recieved SAR from welcome.


All very confusing! contains: details on all 3 loans i've had with them, details on Preffered Mortgages who told me i had to use welcome to sub the mortgage, somebody elses HSBC transaction details, my solicitor details and statements.


After looking, i can see that there are ticks to say i want to purchase all the insurances on the two secured loans.

Plus a breakdown showing i'd be paying £68 p/m that carries my signature.


I remember being sent a load of mortgage papers that also included Welcome papers and was told that all had to be signed to complete on the mortgage.


On the top up loan (3rd loan), just under a year of moving in, we went into our local Welcome office to sign papers and collect cheque. we were told that the insurances would be added as it was compulsary. We just excepted it without blinking as it sounded convincing.


There is nothing about ppi on the first loan/car loan.


Not sure i have a claim now since the statement says there was a rebate of about £2k when we took the top up loan taking it from about £20k to about £18k.


The other thing is that when we topped up the loan it went up to £27k and we got a cash adv of £8500. this was done on 11/12/07 and our statement says we now owe £32104 as of 15/6/09!!


Please help, i'm so confussed with all this.

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