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      OT APPROVED, 365MC637, FAROOQ, EVRi, 12.07.23 (BRENT) - J v4.pdf
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Welcome Finance secured loan harrassment & PPI reclaim


sonway
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  • 2 weeks later...

The Loan agreement

 

optional PPI £2431.95

Acceptance fee £215

Mortgage indemnity fee £1100.00

amount of new cash advanced £8533.01

details of new cash advanced £1466.99

6 xf/care 1st £240.00

6x f/care 2nd£240.00

 

Total amount of loan £14226.95

amount of each monthly payment £278.73

APR 26.0%

rate of interest 1.7% per month

repayment period 120 months

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Go carefully through the SAR documents look

for underwriting sheets showing commissions paid

to the insurance company and any major charges,

if you search the forum there is a wealth of info

on reclaiming.

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There are also many charges applied on the payment history.

This loan had a full write off on 31/10/05, however welcome took a 5k payment from us in march 2006 in order for them to remove the secured loan from our home, is this legal as the loan was written off 5 months prior.

 

Thanks

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Hi sonway, not to sure on the 5K charge for lifting the charge on the property,

but I think you should check the terms and conditions for any reference to the

process.

Brig.

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There is nothing amongst all this paperwork that mentions the 5k that we paid them, surely there should be?

from a PPI point of view all i can see is that Norwich union wrre the underwriters for the insurance

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Hi, Yes of course that must be included in the SAR, was any kind

of written notice that the charge had been lifted and the the 5K ''fee''

had been paid?

IMHO the SAR is incomplete without this information, a formal complaint

should be sent to their Compliance Manager demanding the information

within 7 days (send RD), you can also report this to the ICO if they

don't respond to the letter.

Can't be an ''admin error'' for £5K I think.

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We had nothing from them re the charge, they took the 5k on completion of our re mortgae and we never heard anything else. I think there is something seriously wrong here.

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We had nothing from them re the charge, they took the 5k on completion of our re mortgae and we never heard anything else. I think there is something seriously wrong here.

Yes it smells very fishy 5K disappears and no record of the payment!!

 

Immediate complaint to Welcome by RD .

How was the £5K taken direct from your account or

by cheque?

Were you informed by the Land Registry that the charge

has been lifted that will give you some evidence of payment?

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Sorry initials for everything. Recorded Delivery

so you can trace and check delivery.

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Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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Sir,

I write regarding the documents requested

in my Data Protection Act request dated xxxx

received xxxx, I am now aware of a serious omission

in the data provided, that is the documentation regarding

the fee paid to you by cheque on xxxx for lifting the charge

on my property.

As there is no record with the requested documents

I now require you to produce ALL the documentation

regarding this fee and proof that the charge has infact

been lifted

Failure to comply fully with this demand within 7 days

of the date of this letter will result in a formal complaint

to the ICO and I will consider legal action forthwith.

 

 

Sorry for the delay wrote it once and lost it.:madgrin:

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got another statement in post today with no mention of the 5k. it does have capitalisation debit payments, conversion/default fees. Anyone know what these are and if they can also be claimed back.

 

Thanks

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Hi sonway, that's typical Wecome speak,

default fees/charges are just what it says,

capitalisation OED description . convert to

capital, reckon the value of the asset

by setting future benefits against the cost

of maintenance, IMHO in this case it means as company asset on the books

how much is the debt worth and how much is it going to cost to recover

the value paid for the debt and realise a profit.

Charges may be difficult if your claiming PPI do that first.

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Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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