Abbey National Historical APR

Southcoaster_2
Southcoaster_2 Posts: 4 Newbie
in Reclaim PPI & other insurance
Hi,

I'm trying to claim back misold PPI on a personal loan taken out with Abbey National in 1998. Would anyone have any links as to where I would find the interest rate that would have been applied to a £4K loan taken out in July 1998?

Thanks.

Comments

  • dunstonh
    dunstonh Posts: 116,358 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    You dont need to work it out. Santander, if your complaint is upheld, will refund the premium part of the PPI and add 8% simple interest automatically.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Southcoaster_2
    Southcoaster_2 Posts: 4 Newbie
    Thanks for the reply. The complaint sadly has been rejected and I'm scratching around for evidence as the paperwork for the account connected to the loan has long since gone.

    My idea, and I know it's a long shot, is to calculate the £4000 loan x the APR over the 36 month agreement. If it's lower than the £116 per month I repaid it should hopefully be a shrewd of evidence that PPI was sold with this loan.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    Southcoaster wrote: »
    My idea, and I know it's a long shot, is to calculate the £4000 loan x the APR over the 36 month agreement. If it's lower than the £116 per month I repaid it should hopefully be a shrewd of evidence that PPI was sold with this loan.

    You really are wasting your time with that particular avenue.

    The interest could easily have been higher (or lower) than the base rate and would depend on your financial circumstance at the time.

    Regardless, you'd need hard evidence of PPI and then show it was somehow mis-sold to you if you want a refund.

    I'm guessing your complaint has been rejected solely on the basis that the Bank has no record of you having it?
  • societys_child
    societys_child Posts: 7,110 Forumite
    First Anniversary Name Dropper First Post
    shrewd of evidence
    That's very shred of you . . .
  • Southcoaster_2
    Southcoaster_2 Posts: 4 Newbie
    They rejected the complaint due not finding any evidence of PPI.

    Any ideas of what to do next?
  • k3lvc
    k3lvc Posts: 4,174 Forumite
    First Anniversary Name Dropper First Post
    Southcoaster wrote: »
    They rejected the complaint due not finding any evidence of PPI.

    Any ideas of what to do next?


    Dead easy - find your evidence/paperwork etc to prove your case
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    edited 23 May 2017 at 12:01PM
    Southcoaster wrote: »
    They rejected the complaint due not finding any evidence of PPI.
    So unless you can provide documentary evidence which contradicts this, your complaint is now over.

    Banks report that they receive many many "complaints" where no PPI was actually present. If you weren't sure you had the insurance. what was your "complaint"?

    You should have simply enquired prior to complaint, you'd have had your answer immediately rather than waiting months for an investigation of your concerns.

    Contrary to what Claim Company adverts suggest, PPI was not routinely added to finance without the full permission and therefore knowledge of the customer.

    On the positive side, if you didn't pay PPI then you were fortunate not to have been mis-sold.
  • Southcoaster_2
    Southcoaster_2 Posts: 4 Newbie
    PPI was sold on the personal loan, I'm sure of that as I was told it was required and naively ended up thinking it wouldn't be bad to have should I lose my job.

    Finding paperwork from nearly 20yrs ago is very unlikely and having spoken to a number of different people at Santander, some of which can find the loan I had and some, for some reason who are unable to find such a loan on their system, I'm not completely satisfied it's been looked into properly.

    Without finding any paperwork, I guess that's the end of it.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Southcoaster wrote: »
    having spoken to a number of different people at Santander, some of which can find the loan I had and some, for some reason who are unable to find such a loan on their system, I'm not completely satisfied it's been looked into properly.
    Spend £10 on a Subject Access Request (SAR) letter if you want to be sure there is no record of PPI. Do be aware the money is not refundable and that it's very very unlikely to contradict what you've been told in writing already.
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