Help with Claim to SPML

[Prudence]

Hi, we would like to move and go with another lender (if it's possible for us).

I had heard from a couple of brokers that SPML has allowed people to redeem their mortgages at a discount. We wrote to Ascenden and asked about this but had a negative reply. Is there a way we can speak to SPML direct, do they still have an office anywhere? It is unfair to offer a discount to some and not others surely?

[zither]

I think you will be very lucky. We to asked Ascenden if it was possible for us to do the same but they just laughed and said no. Incidentally we were with Preferred before they went bust.

[Prudence]

Hi

I want to start the ball rolling to claim back PPI from SPML (we still have our mortage with them). Shall I SAR Ascenden?

And has anyone had success with reclaims to these people?

[BRIGADIER2JCS]

SAR always to the original creditor.

[Prudence]

Hi Brig and thanks! Sending it off tomorrow!

[Shelley181146]

May I ask if you have received any reply from SPML yet? What address did you send it to?

[BRIGADIER2JCS]

The DSAR time scale is 40 days from the

date the company receive the request.

[Prudence]

Thanks Brig

 

Shelley - sent the request to:

 

Data Controller

Southern Pacific Mortgages Ltd

St Johns Place

Easton Street

High Wycombe

HP11 1NL

 

About another ten days to go for the 40 days to be up.

[Prudence]

Hi All

I have the SAR from Ascenden and the PPI was paid as single premium over £4000 when we took out the mortgage about 8 years ago.

I have filled out a PPI calculation sheet before but that was for monthly payments. How do I go about claiming for a single premium? Do I just send them a simple letter? (we still have our mortgage with them)

Many thanks

Pru

[cerberusalert]

Thread retitled.

[ims21]

Hi All

I have the SAR from Ascenden and the PPI was paid as single premium over £4000 when we took out the mortgage about 8 years ago.

I have filled out a PPI calculation sheet before but that was for monthly payments. How do I go about claiming for a single premium? Do I just send them a simple letter? (we still have our mortgage with them)

Many thanks

Pru

 

Hi Pru

 

Have a read of No.1 in my signature...all the information and spreadsheets you will need are there

[Prudence]

Many thanks IMS to my rescue again!

(And Ta to Cerberus for retitling)

[Prudence]

Hi IMS, thanks for the links, it was very helpful.. I worked out the interest which came out as 4.48%. I could only see the spreadsheet for the 8% statutory interest on there so I used the spreadsheet CIS v101.xls and put in every payment since the start of the mortgage. Is this correct?

Also, should the Start Date be the Completion Date or the date of the first payment?

I understand I should send this spreadsheet off with a completed questionnaire.

Many thanks, Pru

[ims21]

Make sure you have calculated the PPI percentage correctly.

 

PPI Loan / Total Loan x 100 (where total loan is cash loan + PPI loan)

 

Apply that percentage to your monthly repayment to find out the amount of PPI to enter into the spreadsheet for each repayment made.

 

This is the spreadsheet you should be using for a regulatory award

 

StatIntSheet v101.xls

[Prudence]

Oh what a shame, did you have to spoil the fun IMS, I had a very nice total!

I'll try again! For the start date - is it completion date, or date of first payment?

[ims21]

Doesn't really matter....either will do ....the spreadsheet is not date dependent as far as the "from" date goes.

[Prudence]

Thanks IMS, have completed the spreadsheet but there's one thing I don't understand unless I'm missing something glaringly obvious (which is quite likely!). I have entered all the repayments made so far and applied the percentage I worked out to calculate the portion for PPI. But that doesn't give us back the full PPI premium - what about the PPI element in future payments?

[ims21]

The loan should be restructured to remove future PPI payments from the monthly amount.

[Prudence]

Thank you very much, Pru. I believe we originally took this mortgage through a Broker (who has since gone out of business). Will SPML/Ascenden deal with the claim?

[ims21]

Always start with the lender and see what they say.

[Prudence]

Will do, many thanks

[Prudence]

We have heard from SPML - to say they have forwarded our complaint on to MD Nationwide. Is that normal? And does anyone have any experience in dealing with MD Nationwide? How long shall I give them to reply? Many thanks, Pru

[ims21]

Looks like they have forwarded it to the broker.

 

As they appear to have gone out of business, do you know who the underwriter is/was?

[Prudence]

Actually it seems we had a broker to a broker!! As our broker (who has gone out of business) put us onto SPML through MD Nationwide. Hopefully they are still going. How long shall I give them?

[ims21]

See what happens after, say, 10 days