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PPI claim with YBS

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Is the fact that we won our claim for having been missold an endowment mortgage relevant with regard to our claim for PPI for the same mortgage?

 

We complained to YBS re 2 mortgages,

the first, the endowment mortgage from 1989-2001,

the 2nd a repayment mortgage which ran from 2001-2004.

 

My husband became self-employed in 1996 but I doubt he told YBS this until we moved to the repayment mortgage in 2001.

YBS agree that we had reason to complain regarding the PPI we were charged on this mortgage & have sent a cheque.

 

However, although they mention that this includes interest of 8% for premiums paid on or after 1st April 1993, & 15% per year for premiums paid before 1st April 1993,

they appear to have ignored the question of repayment of premiums from 1989-2001

(these were around £48 per month, whereas on the repayment mortgage, they were £24.10 per month).

 

We are considering referring our complaint to the FOS, as YBS seem to be ignoring our complaint re the endowment mortgage. 

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have you asked them why they are ignoring the endowment PPI reclaim?

 

did you send them an sar to get all the statements and have done a spreadsheet to confirm they are correct in the refund advised ?

 


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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Thanks for your reply. No we haven't asked them why they've ignored the endowment PPI claim yet. And no - we didn't know about SARs! We filled in the questionnaire they sent us after we made the initial complaint(s). 

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we always recommended sending an sar to any creditor you are claiming PPI from.

that way you have everything they hold and are better informed regarding any decisions and have the information to a good stab at calculating the expected reclaim(s)

 

in your case it appears you should have 2 sep claims and have issued 2 sep questionnaires?

 

did you do this?

 


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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Looks like we have made a pig's ear of this, through ignorance. We claimed for both accounts on the same form. 

Will they now be able to say we are too late (past the August 29th deadline) if we send a SAR now? 

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the ppi deadline has no effect upon an sar.

 

so which mortgage have they coughed up on?

the earlier endowment one or the latter repayment mortgage?

 

dx

 


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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The latter. The argument which has (obviously slowly) dawned on me is that as the endowment was mis-sold, the need for PPI as a potential repayment vehicle was therefore also mis-sold. 

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did the latter refinance mortgage involve the sum outstanding resulting from the successful mis selling claim of the endowment mortgage?

 

 


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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Yes it did.

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then IMHO it should be included in the reclaim of the repayment mortgage as the PPI rolled over in the sum refinanced.


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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Thankyou...it makes sense to me. I very much appreciate your help in clarifying this. So - time to send a SAR & go back into battle.

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As long as by you cashing the cheque youve not agreed its settled / ended?

 

might just be as easy to write to ybs and pointout they have omitted the refinanced endowment ppi levied?


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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No we haven't cashed it! We have sat on it for a month (Xmas etc) - disappointed but unsure if we could challenge it. We will take your advice & write to YBS first & see what happens. Thanks again. Will post here with results.

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no harm in sep doing an sar.

 

it often pricks up companies ears when you quote them information you know about when raising a query on a refund.

 

most people sadly as yourself simply sent off a blind speculative letter or follow blindly the companies link to a questionnaire on the company website which are often loaded questions in their favour. or used that flippin useless resolver website

 

they can then spot in all truth you have little knowledge about what you are doing

so wont reveal nor use anything other than very basic data to calculate your refund.

 

that's what the FOS questionnaire is so different!!.

 

 


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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