Natwest - PPI problem! advice please so i dont mess it up!

keza

Hi all, after reading the article on here last night about trying to get PPI premiums back if they had been missold, i decided to check on my loan which i took out in 2006.

As i suspected, i have been done! the premium was lumped with the loan amount and i have been done like a kipper i tell u! haha!

Well i refinanced my loan 6 months later and have paid back the PPI premium with the loan (the original loan was at 7.9%. the refinanced loan was 13.7%)

I was paying the refinanced loan at 13.7% for about 3 years until i refinanced again just over a year ago (this time at 17.9% - bad credit rating!)

SO im still paying back the £3,112 PPI premium from the original loan and have been paying various amounts of ridiculous interest along the way!

When i write my letter, do i tell them i want the interest paid back aswell from the 2nd and 3rd loans as the interest is still being calculated against my original loan debt that included the PPI premium?

Just a little advice needed so i dont mess this up as this is a lot of money to me!

di3004

keza wrote: »

Hi all, after reading the article on here last night about trying to get PPI premiums back if they had been missold, i decided to check on my loan which i took out in 2006.

As i suspected, i have been done! the premium was lumped with the loan amount and i have been done like a kipper i tell u! haha!

Well i refinanced my loan 6 months later and have paid back the PPI premium with the loan (the original loan was at 7.9%. the refinanced loan was 13.7%)

I was paying the refinanced loan at 13.7% for about 3 years until i refinanced again just over a year ago (this time at 17.9% - bad credit rating!)

SO im still paying back the £3,112 PPI premium from the original loan and have been paying various amounts of ridiculous interest along the way!

When i write my letter, do i tell them i want the interest paid back aswell from the 2nd and 3rd loans as the interest is still being calculated against my original loan debt that included the PPI premium?

Just a little advice needed so i dont mess this up as this is a lot of money to me!

Hi there

Yes tell them you want a refund of the full amount of PPI plus interest and the 8% interest of what a court would award.

You have been out of pocket due to being mis sold on the PPI.

For more information and templates check on the link below, also check on the checklist in the link, and use use your own reasons, they have 8 weeks to respond in full.

Another letter maybe required if they do not resolve in your favour, also be careful of low goodwill payments, as they do tend to be rather low compared to the true original amount.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Keep at them until you receive the final response, where they should give details of the financial ombudsman service (FOS) if your not satisifed with the outcome of your complaint you should be able to go to the FOS so they can then investigate.
Remember to also post all letters by recorded delivery.

Good luck and please let us know how you get on, and ask for help when required.;)

Just a thought, it may help, ask if they can post you the calculations of settlement on each loan, this may help to find out how this was calculated and what is owed to you, but you do not require these for the reclaiming letters, but they may come in handy later on, and in case you need to refer to them.
Ask them for these in a separate letter if you want to. X

melorablack

To be honest, unless the 2nd and 3rd loans had PPI on them, I don't think they will repay you the interest on them too.

keza

i have prepared my letter and documents ready to send, going to go thru them once more tonite.

the natwest registered office on the addresses thread is the bishopsgate branch. i work just down the road. is it still safer to send it recorded delivery or can i hand it in at the local branch?

di3004

keza wrote: »

i have prepared my letter and documents ready to send, going to go thru them once more tonite.

the natwest registered office on the addresses thread is the bishopsgate branch. i work just down the road. is it still safer to send it recorded delivery or can i hand it in at the local branch?

Personally I would post it by recorded delivery.
Its up to you if you decide to hand post it, ask if there is any way they can give you a written receipt to confirm this has been received, even though you know that, but you have something to prove if you want to take this further for example the Financial ombudsman service later on.
Does Halifax have a separate complaints dept?

There are so many address in the address thread in regards of Halifax, hopefully someone will confirm, but even if this did go direct to your branch they should re-direct to the dept who deals with this, good luck and please keep us posted.;)
http://forums.moneysavingexpert.com/showthread.html?t=1619943

melorablack

di3004 wrote: »

Personally I would post it by recorded delivery.
Its up to you if you decide to hand post it, ask if there is any way they can give you a written receipt to confirm this has been received, even though you know that, but you have something to prove if you want to take this further for example the Financial ombudsman service later on.
Does Halifax have a separate complaints dept?

There are so many address in the address thread in regards of Halifax, hopefully someone will confirm, but even if this did go direct to your branch they should re-direct to the dept who deals with this, good luck and please keep us posted.;)
http://forums.moneysavingexpert.com/showthread.html?t=1619943

Do you mean Natwest Di? Or am have I mis read something lol?

di3004

melorablack wrote: »

Do you mean Natwest Di? Or am have I mis read something lol?

lol........:o, sorry Keza, yes your right Mel I did mean Natwest.....:o, its me that missed something lol.....:rotfl:.:D.
Keza, again sorry about this, but you can check the address thread I posted above for any banking address hun. Good luck.;)

keza

Hi all! Well i have received my first response from Natwest. they have basically advised they are sorry im unhappy (arent they always!!) and that someone is investigating and will respond in 4 weeks. hopefully this is good news and they know they are in the wrong. fingers crossed. :T

di3004

keza wrote: »

Hi all! Well i have received my first response from Natwest. they have basically advised they are sorry im unhappy (arent they always!!) and that someone is investigating and will respond in 4 weeks. hopefully this is good news and they know they are in the wrong. fingers crossed. :T

Hi Keza

Glad you had some feedback and good luck with the outcome of this, fingers crossed.;)

keza

Have just received another letter (4 weeks was up today) saying they want another 4 weeks to investigate.

di3004

keza wrote: »

Have just received another letter (4 weeks was up today) saying they want another 4 weeks to investigate.

Hi Keza

As you know they have 8 full weeks to respond, so hopefully you will though receive an response earlier and a good one too, fingers crossed, good luck.;)