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

[anney63]

Can you look at the mortgage which is now closed

 

PPI £8425 should I be asking for a refund !!!of the £8425 as well as the payments already made ?

 

I can't see from the final statement whether they ever paid us back !!!

[ims21]

Doesn't look like any rebate was given at settlement.

 

You will want the premium back plus the interest paid on the premium plus 8% on those payments

[anney63]

Wow so I need to add the £8425 back on to the spreadsheet at the date of settlement of loan is that correct ???

[anney63]

Sorry to be a nuisance do I use the original date of loan or final date for the £8425

[ims21]

Yes.

 

Look at it from the point of view as to when you actually parted with the money.

 

For a period of time you parted with money in interest payments and part of that interest relates to the PPI so you claim that part of interest back plus the 8% compo.

 

As this was an interest only mortgage you didn't actually part with the money for the premium itself until the loan was settled so at settlement date you enter the full premium and get the 8% on that too.

 

As you say, it is not clear that any rebate was given but they will let you know with any settlement offer.

[anney63]

Thank you so much this is a huge amount and this is only 1 of my claims.

 

The other one which is still running totals over 6k .

 

I really can't see them coughing up but I can but hope.

 

My concern is that both these policies only ran for 5 Year so one on my current mortgage has finished anyway and I'm still paying for it.

 

Who in their right mind would pay nearly 10K for a 5 yera policy ???

[ims21]

Yes a good wheeze for the bank.

 

Give the punter cover for 5 years but charge them interest on it for the lifetime of the loan.

 

And then they wonder why they are branded as untrustworthy (and worse)

[anney63]

Thanks so Much IMS21 will keep you updated just going to double check everything and then send it off is there anyone who has won against these people ?

[anney63]

Well everything done to the best of my ability.

Everything is in Igroup name so do I send to them they are at same addres and part of GE.

 

I don't think this will be easy as there is a huge amount involved.

 

My concern is the credit agreement states not regulated under CCA will that make any difference. ??

[ims21]

Your target is GE Money as they took over IGroup.

 

Doesn't matter that it is unregulated and you always start a reclaim with the lender

[anney63]

Thanks IMS so here goes a bit nervous but I know you're here to help

[anney63]

:oops:One more question is it usual to only cover PPI for 5 years on an interest only mortgage ?? Can't see any other similar threads

[ims21]

Yes

 

A lot of PPI policies on longer term loans only provided cover for a period of 5 years

[anney63]

:-xRidiculous !!!!!

[dx100uk]

some are as short as 18mts!!

 

dx

[anney63]

Important Notice for GE Money Payment Protection Insurance (PPI) Customers

 

 

 

As a part of our Customer Promise to treat customers fairly, we want to make sure that your decision to purchase your PPI policy from us was the right one. If you think this was not the case and you would like us to investigate your concerns, please check your policy details and make sure you purchased your PPI directly from GE through the following brands*: GE Money, Purple Homeloans or First National / igroup.

 

It doesn’t matter if your PPI policy is live, cancelled or expired or if you have made a claim on the policy, successful or otherwise. If you would like us to review your file and make sure any concerns are addressed, please contact us directly with your GE Money account number on 0844 893 0925. We’re available Monday-Friday, 9am to 5.30pm.

 

Please note, all complaints are assessed in the same way, so you do not need to go through a Claims Management Company (CMC) who may charge an upfront fee or take a percentage of any compensation you may receive.

 

Taken from GE Website so I am going to be treated Fairly That'll be good !!!!!!

[ims21]

so I am going to be treated Fairly That'll be good !!!!!!

 

[dx100uk]

that'll be a first for GE!!!

 

 

dx

[anney63]

Well at last all papers ready do I send copies of relevant documents to Ge or wait and send if it goes to FOS Got 2 Ge Money 1 Amex and 1 Barclaycard all going off together fingers crossed.

[dx100uk]

for each claim

 

FOS CQ+SOC + covering letter goes to the OC.

 

dx

[anney63]

Sorry DX 100.

 

I have completed a Questionaire Schedule and have a letter all ready to go for each claim but have letters etc and copy forms to assist my claim.

 

These were received From GE Money etc. after SAR.

 

So do I need to enclose these or wait and see if they don't play ball and I have to take it further and then send them with claim to FOS. a bit confused sorry .

[dx100uk]

you need a spreadsheet [soc] with each claim

else they'll take ou for a muppet and reject the claim

 

i always find it better to hit them with a spreadsheet detailing EXACTLY what you require in monetary value.

 

dx

[anney63]

Yes got letter CQ & spreadsheet , just wondered if I needed to attach the letters forms etc. which would back up my claim.

[ims21]

All of your reasons would be set out in the fos questionnaire.

 

All you need is the questionnaire, the spreadsheet and a covering letter of enclosure.

[anney63]

Thanks Ims all set now posting tomorrow. Deadline 6th Sept