Is anyone aware of nationwide loans? UPDATE! GREAT NEWS

di3004

chrissy27 wrote: »

What do you mean by unfair rebate? Is this when the bank gives you a figure but its not reasonable?

Basically if settling a loan earlier, you should receive a fair rebate from the loan of what was borrowed, where many have paid well over the odds of what the existing loan was etc......
For example, where some may expect a huge chunk on early settlement eg £5K rebated, some were that of £1K, so your still paying more than originally borrowed.

I will have to try to find some posts on here to show you more in detail if I can.;)

Here is a link here which may provide some info on rebates when ending a credit agreement etc:
http://whatconsumer.co.uk/ending-credit-agreement/

chrissy27

Wow you are a fountain of financial knowledge!!!

I think i understand?! Would this be relevant at the moment when i'm looking just at the insurance? I cant pay off my loan early at this stage anyway!

I'm interested to see if anyone else has had issues with Nationwides PPI but i cant find anything as yet. Its so bad really because they are so good with everything else or seem to be.

chrissy27

I just found this do you think it will help with my claim??
http://www.insurancedaily.co.uk/2007/08/20/nationwide-bans-ppi-sales/

di3004

chrissy27 wrote: »

Wow you are a fountain of financial knowledge!!!

I think i understand?! Would this be relevant at the moment when i'm looking just at the insurance? I cant pay off my loan early at this stage anyway!

I'm interested to see if anyone else has had issues with Nationwides PPI but i cant find anything as yet. Its so bad really because they are so good with everything else or seem to be.

lol, well I try, but still learning really myself lol.....:o:D. Thanks though.X

If I were you, personally as you have a reason for this being mis sold to you, I would definately go for the mis selling complaint, this way you receive more of what is owed to you. This way you contact who arranged this for you in the first place.

However, if your not happy with the insurance in itself and the insurer have been unfair in anyway to you, I can't see why you cannot complain to the insurer, but I have only known complaints in regards of unfair rebate on settled loans.

I am hoping someone else will post up as well in regards of this issue, who maybe have been through this themselves.;)XX

di3004

chrissy27 wrote: »

I just found this do you think it will help with my claim??
http://www.insurancedaily.co.uk/2007/08/20/nationwide-bans-ppi-sales/

This is actually quite interesting, it may help, maybe print off a copy.;)

chrissy27

NATIONWIDE HAVE RESPONDED TO MY FIRST LETTER WHICH I POSTED LAST WEEK: I AM TO RECEIVE A CREDIT OF THE FULL AMOUNT PAID ON MY INSURANCE WHICH IS OVER £1880 PLUS 8% STATUTARY INTEREST WHICH WILL BE PAID TO MY NATIONWIDE ACCOUNT NOT MY LOAN. THIS IS AFTER JUST 1 LETTER TO THEM FROM THE TEMPLATE ON THIS WEBSITE!! THANKS MARTIN AND THANKS DI.

I HAVE APPLIED FOR A CHEAPER INSURANCE TO COVER THE REST OF MY LOAN WHICH WILL SAVE ME £50 PCM (£3000 IN TOTAL) PLUS I AM GOING TO PAY OFF MY CREDIT CARD WITH THE MONEY I GET PACK WHICH WILL SAVE ME ANOTHER £60 PCM.

THANK GOODNESS FOR MONEY SAVING EXPERT AND MY FELLA FOR DIRECTING ME TO THIS AND MY MUM FOR LOOKING AT MY LOAN!!!!!

YAYYYYYYYY

:beer:

marshallka

chrissy27 wrote: »

NATIONWIDE HAVE RESPONDED TO MY FIRST LETTER WHICH I POSTED LAST WEEK: I AM TO RECEIVE A CREDIT OF THE FULL AMOUNT PAID ON MY INSURANCE WHICH IS OVER £1880 PLUS 8% STATUTARY INTEREST WHICH WILL BE PAID TO MY NATIONWIDE ACCOUNT NOT MY LOAN. THIS IS AFTER JUST 1 LETTER TO THEM FROM THE TEMPLATE ON THIS WEBSITE!! THANKS MARTIN AND THANKS DI.

I HAVE APPLIED FOR A CHEAPER INSURANCE TO COVER THE REST OF MY LOAN WHICH WILL SAVE ME £50 PCM (£3000 IN TOTAL) PLUS I AM GOING TO PAY OFF MY CREDIT CARD WITH THE MONEY I GET PACK WHICH WILL SAVE ME ANOTHER £60 PCM.

THANK GOODNESS FOR MONEY SAVING EXPERT AND MY FELLA FOR DIRECTING ME TO THIS AND MY MUM FOR LOOKING AT MY LOAN!!!!!

YAYYYYYYYY

:beer:

Well done to you:beer:

marshallka

di3004 wrote: »

Basically if settling a loan earlier, you should receive a fair rebate from the loan of what was borrowed, where many have paid well over the odds of what the existing loan was etc......
For example, where some may expect a huge chunk on early settlement eg £5K rebated, some were that of £1K, so your still paying more than originally borrowed.

I will have to try to find some posts on here to show you more in detail if I can.;)

Here is a link here which may provide some info on rebates when ending a credit agreement etc:
http://whatconsumer.co.uk/ending-credit-agreement/

Di, I actually had that one for the loan thrown back. I have a complaint now about the rebate of the "PPI" which is not to do with the loan and If you remember it was always my wording (although FOS says to write in your own words) that was wrong although I saw the rebate of the loan being to do with the PPI. Very complicated to understand really even though its my complaint but should hear from them soonish. They told me 3 months last month but could be longer. Just being patient again:rolleyes:

chrissy27

Marshallka,

Good luck with yours, it sounds alot more confusing than with mine - i didnt really understand that one!

I am really pleased with the outcome and I didnt expect nationwide to offer this straight away, I have definately learnt alot from this experience and really hope I can help other poeple out now!

My boyf wants a loan for a car next year I said "DONT DO IT!!!!!"

I can not wait to be out of debt I still have a way to go to the end of my loan but now the rediculous insurance has gone its gonna help and I shouldnt get worse.

di3004

chrissy27 wrote: »

NATIONWIDE HAVE RESPONDED TO MY FIRST LETTER WHICH I POSTED LAST WEEK: I AM TO RECEIVE A CREDIT OF THE FULL AMOUNT PAID ON MY INSURANCE WHICH IS OVER £1880 PLUS 8% STATUTARY INTEREST WHICH WILL BE PAID TO MY NATIONWIDE ACCOUNT NOT MY LOAN. THIS IS AFTER JUST 1 LETTER TO THEM FROM THE TEMPLATE ON THIS WEBSITE!! THANKS MARTIN AND THANKS DI.

I HAVE APPLIED FOR A CHEAPER INSURANCE TO COVER THE REST OF MY LOAN WHICH WILL SAVE ME £50 PCM (£3000 IN TOTAL) PLUS I AM GOING TO PAY OFF MY CREDIT CARD WITH THE MONEY I GET PACK WHICH WILL SAVE ME ANOTHER £60 PCM.

THANK GOODNESS FOR MONEY SAVING EXPERT AND MY FELLA FOR DIRECTING ME TO THIS AND MY MUM FOR LOOKING AT MY LOAN!!!!!

YAYYYYYYYY

:beer:

Oops almost missed this thread....
Wow, well done and Congratulations, this is fab news, good one, so happy for you.
:beer::T:beer:
And your welcome X