GE Money - 2 mortgages with PPI reClaims - everyone bar GE sold it me!!

[anney63]

Hello

 

I need to claim against Ge

for a single payment of £9925.

from 29th October 2002

 

is this ok to do

 

Thank You

Anney63

[dx100uk]

Hello I need to claim against Ge fro a single payment of £9925. from 29th October 2002 is this ok to do

Thank You Anney63

 

 

yes start your OWN thread

 

dx

[anney63]

I am doing this for a friend who has hit hard times.

 

He has Credit Cards too with PPI so as I'm retired and still have a working brain I am keeping busy.

 

I don't want him going to one of these companies and paying through the nose.

 

I will appreciate all the help I can get as I did when I claimed my sons bank charges.

 

Thanks

 

Forgot to say once I get to the end of all this a donation will be forthcoming.

 

This site is amazing

[anney63]

Sending 7 day non compliance letter to GE Hopefully will get paperwork to make claim . Do GE Money always take this long ?

[anney63]

Well good news paperwork arrived today

 

there are 2 claims

 

the first was a remortgage which only ran for 3 years before he sold the house.

 

He remortgaged to raise deposit for new house. .

 

This had a PPI single of £ £8825.

So it would have been charged monthly with the payments.

 

The other has been running since 2002 and was £9925.

so again will be part of the monthly payment and is still running.

 

The weird thing is that in with all the paperwork is a letter from his wife in 2006 stating that he had been made unemployed and could they have a payment holiday.

 

So weird they were not even aware they had insurance nor were they advised. ????

 

Which spreadsheet do I use ?

 

Also the interest rate changed quite a few times in the beginning also it is an interest only mortgage.

 

Just curious how to work all this out .

 

I know its a percentage of the overall amount and then the same percentage off the monthly payments but which spreadsheet do I use.

 

Would really appreciate help

[ims21]

anney....I have created a new thread for you here

[ims21]

For single premium PPI this is the spreadsheet

 

StatIntSheet v101.xls

[anney63]

So I enter the percentage payment of each months payment in here is that correct ?

[ims21]

Yep

[ims21]

Hang on....you said it is an interest only mortgage.

 

Are you sure it was single premium PPI added at the start?

 

It would be unusual for an interest only mortgage.

[anney63]

So if this has yet to be cancelled how is it taken off the total of the original mortgage as its an interest only mortgage these lump sums were part of the money leant .

 

Apart from the repayments will they have to reduce the mortgage value ?

For Instance mortgage is £208,825. and PPI is £9925.

does that reduce the total mortgage £19,8900. ?

Hope this makes sense.

 

The other mortgage which had ppi was on a seperate house which eventually was sold

should the PPI total been reapid as it was part of the final repayment total ?

 

I hope this makes sense or am I confused ??

[anney63]

Would it be ok for me to post up the paperwork . It may be me misinterperating things.

[ims21]

Yes of course....make sure you remove all personal identifiers first. Just need the agreement really.

[anney63]

£208,425 is the total of the mortgage being paid by monthly d/d

 

The form heading is States

CREDIT AGREEMENT Interest Only

( Not regulated by CCA)

IG Group Mortgages Ltd.

 

Itemised Figures

Advance Amount £195,000.

Optional Protection Insurance £9925. (Has a tick in the single box )

Amount of Credit £204,925.

Broker Administration Fee £3000.

Legal Costs £300.

Completion Costs £200.

Total £208,425.00

Payment period 300 Months

 

Hope this helps !!!

 

Just checked seperate PPI form and this only covers for 60 months and is paid to another part of the IG Group.

Edited June 22, 2012 by anney63

[ims21]

Ok

 

So same principles apply...of each interest instalment being paid, a percentage is for the interest on the PPI.

 

so using the spreadsheet just list the percentage of PPI giving the date of the instalment, the description and the amount.

 

This will calculate the amount actually paid thus far and the 8% extra interest on top.

 

The remainder of the loan should then be restructured or the premium refunded

[anney63]

Thanks IMs

 

the other mortgage was paid off as the house was sold

 

the figures I have on completion are rather complicated

so don't know whether they refunded PPI balance or not.

 

So will put thoses figures and description up later

 

Really appreciate your help. Thank You

[anney63]

Hi Again

This is how the final page looks on the other mortgage when he sold the house which was rented out. The PPI on this one was £8425

 

Date Description Amount Balance

05/04/2005 Mortgage Balance 168217.80

29/04/2005 Redemption TT Solicitors -175201.30 -6983.50

05/05/2005 D/D Monthly Payment -1134.65 -8118.15

05/05/2005 Interest 840.98 -7277.17

05/05/2005 Reduce Previous Interest -136.70 -7413.87

05/05/2005 D/D Recall Charge 2.00 -7411.87

05/05/2005 D/D Recall1 134.65 -6277.22

09/05/2005 Reduce Previous Interest -113.34 -6390.56

09/05/2005 Reduce Previous Interest -0.01 -6390.57

10/05/2005 Income on Early Settlement 6192.57 -198.00

10/05/2005 Solicitor Discharge Fee 52.88 -145.12

10/05/2005 Blank 147.12 2.00

10/05/2005 Repayment of Admin Charge -147.12 -145.12

10/05/2005 Repayment of fees & Additions -6019.29 -6164.41

10/05/2005 Repayment of Capital -167900.24 -174064.65

10/05/2005 Blanace Transfer on Settlement 174066.65 2.00

10/05/2005 Shortfall on Capita l-2.00 0.00

Just can't make head nor tail of all the descriptions so not sure if PPI was ever repaid or whether they took the total on settlement if that's the case how do we calculate this one ??? Thank you for your help much appreciated

Edited June 23, 2012 by anney63
added

[ims21]

Best to post it up

 

Dx100 – Instructions on uploading pdfs

 

scan the required letters/agreements/sheets

as a picture file

remove all pers info inc barcodes etc using paint

but leave all figures and dates.

go to one of the many free online pdf converter websites

convert the image to pdf format.

or ir you have PDF as an installed printer drive use that

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

NB:you can set where it goes in the post by hitting insert inline.

the hit reply button

[anney63]

Attached Copies I hope this is ok. All new to me

 

New Attachments

img210.pdf

img211.pdf

img212.pdf

img213.pdf

Edited June 24, 2012 by anney63

[dx100uk]

i have unapproved the atts

 

using a pen is no good

 

blank out your details using the 'paint' prog

 

follow the guide posted

 

dx

[anney63]

Sorry have revamped and attached new copies !!!

[anney63]

Spreadsheets done for both claims. Now I presume I need to do FOS forms is that right ?

[ims21]

Yes, complete a fos questionnaire and send that and the spreadsheet to the lender with a brief letter requiring refund.

[anney63]

Do I also enclose copy letter requesting help when out of work as not aware of insurance. ?

[ims21]

If you wish....it won't hurt