The complainant would have purchased an alternative regular premium PPI policy at the outset. The loan and the PPI policy are live; and the complainant has previously had a successful claim on the single premium PPI policy

 

Complainant initially took out a loan which included a Single Premium PPI policy. Their complaint is based on the fact that they should have purchased a Regular Monthly PPI policy, and the complainant has had a successful claim on the single premium PPI policy.

 

Loan/Policy start date              15/08/2008

Term of loan/PPI                      5 years (60 months)

Calculation end date                18/03/2011

 

Loan: £10,000 with Exasoft Loans

 

Single PPI premium                 £1,200

Loan (Fixed) rate                      7.42% for full term

Claim of £230 on 22/05/2009 for 3 months

 

Equivalent Monthly Premium   £15                    

Related Topics

PPI Scenarios
Initial Entry Screen
Common Adjustment Set
Actual Adjustment Set
Notional Adjustment Set
Main Screen
System Adjustment Generator
SysPay Adjustment Set
Second Entry Screen
Third Entry Screen
Comparison PDF - Summary