sounded to good to be true but
Guest
Posts: n/a
sounded to good to be true but
mate of mine told me he had a buisness meeting and was introduced to a very experienced fsa after a friendly chat his mate that introduced him told him hed wiped alot of his mates debts and a good chunk of his own talking 10,s of thousands im like yea yea especially when he said the guys fee was 2.5k (by the way it wasnt a pitch to me i have 0 debt) so then he drops it out mortages loans ect that were sold between 2002-2005 were done so frauduently somthing to do with the protection not being needed that it was sold with and it being unlawfull in some way thiers some clause in the contracts that voids it, so he paid £10 to his bank with a letter authoriseing this guy to recieve all of his banking accounts everything and the guy rings him back the same day telling him his mortgage was definately sold in this way and to stop paying it straight away aprently he is due compensation and in some cases his mates the debts been wiped were talking mortgage figures his protection was £90 a month that is facted in to your mortgage for the full term and then thier personal and buisness loans to he hasnt gone into these yet but i find this very interesting considering how dodgey we know the banks to be i,ll keep it updated could help out alot of peeps and no im not on commision just shareing some potentially powerful info 
so some of the mortgage is protection payment insurance but you don't need to pay it, hence making the figures untrue and miscalculated meaning that they owe peole money in this instance
right?
right?
15K+ Super Poster!!
Joined: Oct 2003
Posts: 18,685
Likes: 1
From: All over the friggin place!!!
This is VERY true!
Although i think your mate is being shafted for the IFA's fee!
Basically what happened, is people were mis-sold thier protection policy, some werent even told they had it! And the charge was just added to their mortgage. If you have enough evidence that you were mis sold it ( ie: plead ignorance ) there is every possibility you will get every penny back that you have paid towards the mis sold policy and in some rare cases, people have had their mortgages wiped. but that is very rare!
Although i think your mate is being shafted for the IFA's fee!
Basically what happened, is people were mis-sold thier protection policy, some werent even told they had it! And the charge was just added to their mortgage. If you have enough evidence that you were mis sold it ( ie: plead ignorance ) there is every possibility you will get every penny back that you have paid towards the mis sold policy and in some rare cases, people have had their mortgages wiped. but that is very rare!
Guest
Posts: n/a
This is VERY true!
Although i think your mate is being shafted for the IFA's fee!
Basically what happened, is people were mis-sold thier protection policy, some werent even told they had it! And the charge was just added to their mortgage. If you have enough evidence that you were mis sold it ( ie: plead ignorance ) there is every possibility you will get every penny back that you have paid towards the mis sold policy and in some rare cases, people have had their mortgages wiped. but that is very rare!
Although i think your mate is being shafted for the IFA's fee!
Basically what happened, is people were mis-sold thier protection policy, some werent even told they had it! And the charge was just added to their mortgage. If you have enough evidence that you were mis sold it ( ie: plead ignorance ) there is every possibility you will get every penny back that you have paid towards the mis sold policy and in some rare cases, people have had their mortgages wiped. but that is very rare!
Guest
Posts: n/a
yes sir
im not to cetain on the start date it maybe 2000 will confirm
Last edited by Rudey; Feb 26, 2009 at 05:02 PM.
Trending Topics
PassionFord Post Whore!!
Joined: Nov 2005
Posts: 4,062
Likes: 0
From: Edinburgh
Rudey the IFA is spot on however you don't need an IFA to do this.
PPI schemes are ALWAYS profit with a very small amount of it actually being a premium and if you read the small print you'll find you aint covered for a hell of alot.
But secured borowings always get PPI's sold alongside because targets are set on PPI sales and with that comes the commision. Interestingly enough financiers such as Welcome, yes, and the big named companies have a rewrite capacity (if anybody reading this is struggling a bit, ASK your lender) allowing them to drop the interest rate from the original and extend the term time (taking the monthly pressure off the borrower) but when they do this they remove the PPI at the same and guess what? you already paid for it!
Other than that when you write and request the cancellation you are entitled to a rebate which is on a scale relating to the term time, and the amount you get back drops the further along the term time you are.
Lastly, the FSA stipulate that you MUST be advised of all of this so its a fair sale. If it wasn't explained, complain directly to the FSA and it will be investigated.
But save yourself a few grand don't ask an IFA to do it for you.
Pete
PPI schemes are ALWAYS profit with a very small amount of it actually being a premium and if you read the small print you'll find you aint covered for a hell of alot.
But secured borowings always get PPI's sold alongside because targets are set on PPI sales and with that comes the commision. Interestingly enough financiers such as Welcome, yes, and the big named companies have a rewrite capacity (if anybody reading this is struggling a bit, ASK your lender) allowing them to drop the interest rate from the original and extend the term time (taking the monthly pressure off the borrower) but when they do this they remove the PPI at the same and guess what? you already paid for it!
Other than that when you write and request the cancellation you are entitled to a rebate which is on a scale relating to the term time, and the amount you get back drops the further along the term time you are.
Lastly, the FSA stipulate that you MUST be advised of all of this so its a fair sale. If it wasn't explained, complain directly to the FSA and it will be investigated.
But save yourself a few grand don't ask an IFA to do it for you.
Pete
Thread
Thread Starter
Forum
Replies
Last Post
track.focus'd
Restorations, Rebuilds & Projects.
26
Aug 12, 2015 05:53 PM
blakey100
Technical help Q & A
1
Aug 4, 2015 08:17 PM