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    • https://www.greenenergyuk.com/ What is Economy 10 electricity? Economy 10 is a UK electricity plan, officially known as a ‘differential tariff’, that can help you pay less for your electricity. Basically, you pay normal prices most of the time, but cheaper rates during other ‘off peak’ times. These off-peak times are specified by the energy provider and are spread across the day. Altogether they will add up to 10 hours during each 24-hour period - which is why the plan is known as Economy 10.The off-peak unit prices available with an Economy 10 plan are often half the standard amount – so if you use appliances like dishwashers, slow cookers or washing machines during these off-peak times, it could help you cut your energy bills. However, you will need to be careful and disciplined about your energy use, because unit rates for energy you use outside these ten hours can be higher than usual.   Andy
    • There is no categories or lists of vulnerable people in the TCE or regs.   There are lists of where vulnerable people are likely to be found in guidelines, but even these do not say that any category should be regarded as vulnerable.
    • simply phone northants bulk in the morning and ask for a copy of the claimform AND the Judgement by email PDF you'll need the CCJ number from your credit file.   dx  
    • Oh, you can be sure, bailiffs only recognise the vulnerability of the debtor, and that's it.   Authorities can withdraw warrants of course, and in certain circumstances they do.   I think we are talking about different things.
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    • This is a bit of a lengthy one but I’ll summerise best as possible.
       
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      I was contacted by future comms by phone, they stated that they could beat any phone contract I have , (I am a limited company but just myself that needs a business phone and I am the only worker) 
      I told future comms my deal, £110 per month with a phone and a virtual landline, they confirmed that they could beat that, £90 per month with a phone , virtual landline  they also confirmed they would pay Vodafone (previous provider) the termination fee. As I am in business, naturally I was open to making a deal. So we proceeded. 
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    • A shocking story of domestic and economic abuse compounded by @BarclaysUKHelp ‏ bank complicity – coming soon @A_Gentle_Woman. Read more at https://www.consumeractiongroup.co.uk/topic/415737-a-shocking-story-of-domestic-and-economic-abuse-compounded-by-barclaysukhelp-%E2%80%8F-bank-complicity-%E2%80%93-coming-soon-a_gentle_woman/
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    • The FSA has announced large fines against DB UK Bank Limited (trading as DB Mortgages) - DeutscheBank and also against Redstone for their unfair treatment of their customers.
      Please see the links below for summaries and full details from the FSA website.
      It is now completely clear that any arrears charges which exceed actual administrative costs are unfair and therefore unlawful.
      Furthemore, irresponsible lending practices are also unfair and unlawful.
      Additionally there are other unfair practices including unarranged counsellor visits - even if they have been attempted.
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      http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/120.shtml
      http://www.fsa.gov.uk/pubs/final/redstone.pdf
      http://www.fsa.gov.uk/pubs/final/db_uk.pdf
       
      http://www.fsa.gov.uk/pages/consumerinformation/firmnews/2011/db_mortgages.shtml
      Do you have a mortage arears claim to make? Then post your story on the forum here
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    • 30 Day Right To Reject - Vehicle Casualty Report. Read more at https://www.consumeractiongroup.co.uk/topic/415585-30-day-right-to-reject-vehicle-casualty-report/
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craigten

Woolwich Mortgage PPI Insurance -Where to start? Added to mortgage?

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Hello.

A friend of mine has asked me to look in to the insurance policies that she has just realised were sold to her when she took her mortgage out back in 1998.

 

From looking at the paperwork I can see that there were various forms of insurance but what strikes me straight away is the phrase 'Premiums are recovered from your monthly mortgage repayments. Separate payment is not, therefore required. Please amend your payment when advised'.

 

Does this mean that the insurance was added to the mortgage, and by doing that, my friend was charged interest on both?

 

Apologies for the naive question.

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Should be a separate item on mortgage statement, so no interest is charged on Insurance premium.

 

Going back a very long time ago to probably the early/mid 90's, some mortgage companies were adding insurance premiums to mortgage and charging interest. The OFT ruled at the time that this should not be happening and mortgage providers affected stopped this practice, with many stopping adding any Insurances to mortgage statements. Those that could prevent interest being added to Insurance premiums, continued to include Insurance within the statements, if the mortgage holders wanted the Insurance included.

 

That is the history on this issue. If mortgage interest was added to Insurance premiums and you can prove it with statements, then go through the normal complaints process. Should not be affected by limitations act, if interest was added in error, then a refund should be calculated.

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Thank you for that. I will get my friend to check her statements.

Please can I ask how she can go about querying that the insurance was mis-sold? Is it purely a letter to the bank in question?

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Yes it would be, but to avoid a simple refusal, your friend should state why the Insurance was not suitable to meet their requirements

 

It is a bit different to PPI, because mortgage insurance to cover payments in the event of say redundancy, might have been a condition of the mortgage at the time. With PPI it was added on very easily, but with mortgage repayment insurance, I suspect that your friend will have had to sign up to it and it was seen as covering a risk that needed covering.

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That is just Home Insurance. Your friend made an application to get this, as it is not something automatically arranged.

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Oh okay. But it does say that it’ll be recovered from the mortgage repayments?

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Yep that is the way Woolwich did it at the time.

 

My Sister had a Woolwich mortgage with Home Insurance premiums collected in that way. Not the most competitive premiums, but a very good claims service. Great when they covered a large water damage claim, when the house could not be lived in for over 6 months and needed a lot of work.

 

If you are fishing trying to recover any money from Banks, suggest sending a Data Protection Subject Access Request to see what you can find out. You won't recover anything regarding Home Insurance or mortgage protection cover.

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Thank you for that. However, am I correct in thinking that they did effectively charge interest on that policy (being as it was combined with the mortgage repayments) and shouldn’t have?

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No not mortgage interest or any interest. At that time, most Insurers did not charge interest for monthly instalments.

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Hi again.

I see that the Woolwich was taken over by Barclays. I will send them a SAR but do you think they will still have the records of The Woolwich?

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Hi Craig,

Yes they should have the data you need but please start a new thread to discuss your case. Probs best in the Barclays Forum as it'll get seen more there than in the Woolwich !

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