Three Egg Loans and Bright Grey (maybe a Northern Rock) mortgage PPIs

[sw1sst]

Hey,

 

going through some old documents.

 

found several Egg loan agreements dating back 10/12 years each one stipulated an amount of money I was asked to pay for PPI.

 

I didn't realise I was paying PPI.....

 

after thinkning about things I realised that when I applied for a mortgage back in 2004 with Northern Rock,

the broker who arranged the loan specified that I was required to have PPI or I wouldn't get the mortgage.

I have a follow up "cover summary" from bright grey listing an amount.

 

I have original personal loan agreements for two of the older loans (2000 + 2004) from egg and one from bright grey (2006), this one is called a "cover summary" though.

 

do I need statements ?

 

can someone walk me through the process as I am seriously tempted in contacting one of the firms advertised on the telly.

 

thanks

[dx100uk]

you can loose upto +30% if you go with one of the reclaiming spoofers.

 

there is no time limit on PPI reclaims

 

so take your time

 

the mortgage one

and the loans should be easy [unless one refianced the other?]

 

see the links below and ave a read up.

 

you dont need the statements if you have the agreements.

 

dx

[sw1sst]

Hey DX thanks for the quick reply. I've, since posting, been having a look around the site and various threads.

 

all loans were independent of each other, will I still be ok to claim ?

 

a couple of things;

The loans and mort i've listed are these known as single premium PPIs ?

I've not found the latest loan agreement dated 2007 (as yet) should I request that from Egg ?

Do I treat these claims individually even though the lender stays the same ?

what sort of time span are we looking at here ?

 

 

thanks again

[dx100uk]

they have upto 8 weeks

 

each one will be a separate claim.

 

it might be an idea to SAR egg

 

just t get everything

 

dx

[sw1sst]

ok thanks,

so would I need to send Egg three SAR requests or would one suffice ?

assume also the same for the mortgage providers ?

 

this sounds all too easy. you're right, I shall not be contacting the 30% spoofs.

 

out of interest what is the amount I am to expect from the claim ? is it the total amount paid out for PPI + some interest ?

[dx100uk]

ok thanks,

so would I need to send Egg three SAR requests or would one suffice ?

assume also the same for the mortgage providers ?

 

this sounds all too easy. you're right, I shall not be contacting the 30% spoofs.

 

out of interest what is the amount I am to expect from the claim ? is it the total amount paid out for PPI + some interest ?

 

the amount of PPI you'll get back

is the PPI portion of what you paid each month [PCM]

with 8% stat int added. from that date til today [or date you put you claim in]

 

This first spreadsheet is the latest version of the statutory interest calculator and is used for Single Premium PPI cases. It can also be used where rollover PPI is involved, i.e. a new loan re-financing a previous one and where PPI is included in one or more loans.

 

StatIntSheet v101.xls

 

 

to work out your PPI PCM

 

total cash price of PPI / total cash price of loan * 100 = xx%

 

then workout what xx% of our monthly payment was - that will tell you the PPI PCM element.

 

then for EVERY month your paid the loan

 

enter the details in the spreadsheet [soc] i listed above.

 

as for sar

 

one is all that is required.

 

your mortgage might be a diff spreadsheet if the interest is calculated each month

 

but typically its the same spreadsheet.

 

credit cards are a diff oe for your info.

 

dx

[sw1sst]

Hey DX,

 

sorry for bumping this thread...

 

I've been in hospital and find myself with a little time on my hands at home.

 

I got as far as completing two FOS questionnaires for my two loans (which I have credit agreement documents for).

 

previously you suggested I SAR Egg. is there a template for this ? also where would I send this SAR (and cheque) ?

 

I am also being very blonde.

 

I have downloaded the Interest spreadsheet and sort of understand how it works.

 

I will have a go at completing it,

 

can I send it to you once I've completed, to ensure no school boy errors ?

 

 

regards

[dx100uk]

click on the black sar

 

as for the address

 

pop along to the main forum tab up top

 

scroll to EGG

 

and read the read 'stickie'post at the top of the list

 

there is a link below in my sig '0'

 

that will help with doing the spready

 

as well as the red tab on the spready itself.

 

dx

[sw1sst]

DX thanks so much for coming back to me.

 

I've only run the first loan through the spreadsheet....and I'm flabberghasted by the amount that is shown that it's saying I can reclaim. (this is just the first loan from Nov 2000) I have followed your calcs (recalc'ed several times just to make sure)

with regards compound interest, listed above from reading the 0(zero) listing in your sig it's suggested I can apply 8% compound interest ?!

 

is this correct. if so, crikey. that is one fat dollop of cashollah.

 

so my calcs...

 

1376.55 / 10376.55 * 100 = 13.26% (rounded down just for fairness, )

 

PPI / Loan

 

Monthly payment of £295.04 of which 13.26% is PPI = £39.21 PCM * 42 months = £1646.82. then use spreadsheet to add 8% compound....

just over £3.6k.

 

a couple of things come out from the details I have, I only have the credit agreement doc so can't be 100% sure of the start date. the doc makes reference to payments starting to be taken on the 18th of the month assuming it's not 30 days, I've assumed in this case payments would have started on the 18th November 2000 as the credit agreement is dated the 4th of October 2000. These dates fall into line as I took out another loan starting a few weeks after I'd finished paying for this one.

[dx100uk]

loans are not compounded ppi int

 

simple int at 8%

 

first spready.

 

dx

[dx100uk]

you enter EVERY PAYMENT of £39.21 on the date your ACTUALLY paid it.

 

dx

[sw1sst]

Sent the spreadsheets and covering letters off 26th Nov. Today I have a letter from egg saying where do I want the cheque for just shy of £5k sent to. Spookily enough I sent the reply back pretty sharpish.

So there you have it, an hour of concentration, a couple of letters and first class stamps. £5k in the back bin...no need for the 30% 'ers.

Thanks for all your help dx, I owe you a beer or two.

[dx100uk]

how does that match your soc figure?

 

dx

[sw1sst]

Dead on. Maybe the little bit of work up front helped with speeding the process

[sw1sst]

cheque came a week ago. wow. what a nice post christmas present.

Thank you so much DX !

 

now just the credit card insurance to claim now.

 

would I need an SAR for this ?

 

or could I just send them my credit card number/account and say that I definately had payment insurance I want it back ?

 

also how would I go about checking other institutions to find out whether they added ppi to loans I had taken out ? thinking Northern Rock mortgage+loan....

 

...seem to remember a link to donate "to keep CAG going" where has that gone ?

 

bit of advice for those thinking about using a company to do your ppi claim. don't. it's very simple and very made easier by the friendly helpful advice gained from the admins on this site.

 

again DX thanks for all your help.

[dx100uk]

the donation is bottom right of every page

 

did you not get the egg CC statements when you sent them your SAR?

 

dx

[sw1sst]

donation made ! didn't see that before....lol.

 

I didn't SAR in the end, gawd knows why. I used my own original agreement documentation, will it be ok to SAR after claiming on those two loans ?

[dx100uk]

ofcourse!!

 

dx

[lamby84]

Did you manage to claim back on the Bright Grey PPI with your mortgage??

 

I also took this out based on the advice from my mortgage advisor and have paid it every month for 4 years so hoping I might be able to claim!

[dx100uk]

Did you manage to claim back on the Bright Grey PPI with your mortgage??

 

I also took this out based on the advice from my mortgage advisor and have paid it every month for 4 years so hoping I might be able to claim!

 

no might about

 

start you're own thread and go get 'em

 

video below

 

dx