Nat West PPI, Can you help please?

Mr_Linnet

Thank you very much Di, magpiecottage and dec22 for your replies, you give me the incentive and encouragement to keep me going in my pursuit.

Yesterday I recieved a reply from the local Nat West bank manager who apologized for not answering my letter dated 18th December 2009 because he did not recieve it!!!!! ( How a hand delivered letter to the Nat West reception desk personally addressed to the bank manager can go missing really bemuses me.)

Firstly, he confirmed he had raised a formal complaint on my behalf with the specialist team who deal with allegations of inappropriate selling.

Secondly, he maintained that the PPI can`t be cancelled because the PPI is actually a loan in itself. (he forwarded a copy of the loan agreement saying I was going to borrow £8897 which was made up of previous loan £4206.80, new cash loan of £2793.20 and loan insurance of £1897.00 ).

Thirdly, the Nat West employee who had previously informed me that I could cancel the PPI has undertaken training to ensure they are fully aware of the correct procedure. He apologized for the incorrect information provided initially concerning the cancellation of the policy.

I have today received a letter from RBS in Manchester saying they are investigating my complaint and have given me the name of a case officer.

I suppose I`ll have to wait for their findings?

Many thanks again Steve.

di3004

Mr_Linnet wrote: »

Thank you very much Di, magpiecottage and dec22 for your replies, you give me the incentive and encouragement to keep me going in my pursuit.

Yesterday I recieved a reply from the local Nat West bank manager who apologized for not answering my letter dated 18th December 2009 because he did not recieve it!!!!! ( How a hand delivered letter to the Nat West reception desk personally addressed to the bank manager can go missing really bemuses me.)

Firstly, he confirmed he had raised a formal complaint on my behalf with the specialist team who deal with allegations of inappropriate selling.

Secondly, he maintained that the PPI can`t be cancelled because the PPI is actually a loan in itself. (he forwarded a copy of the loan agreement saying I was going to borrow £8897 which was made up of previous loan £4206.80, new cash loan of £2793.20 and loan insurance of £1897.00 ).

Thirdly, the Nat West employee who had previously informed me that I could cancel the PPI has undertaken training to ensure they are fully aware of the correct procedure. He apologized for the incorrect information provided initially concerning the cancellation of the policy.

I have today received a letter from RBS in Manchester saying they are investigating my complaint and have given me the name of a case officer.

I suppose I`ll have to wait for their findings?

Many thanks again Steve.

Your very welcome Steve.

Glad you finally heard from them and now fingers crossed for a good outcome, good luck.;)

Di

gerryscot

Mr_Linnet wrote: »

Thank you very much Di, magpiecottage and dec22 for your replies, you give me the incentive and encouragement to keep me going in my pursuit.

Yesterday I recieved a reply from the local Nat West bank manager who apologized for not answering my letter dated 18th December 2009 because he did not recieve it!!!!! ( How a hand delivered letter to the Nat West reception desk personally addressed to the bank manager can go missing really bemuses me.)

Firstly, he confirmed he had raised a formal complaint on my behalf with the specialist team who deal with allegations of inappropriate selling.

Secondly, he maintained that the PPI can`t be cancelled because the PPI is actually a loan in itself. (he forwarded a copy of the loan agreement saying I was going to borrow £8897 which was made up of previous loan £4206.80, new cash loan of £2793.20 and loan insurance of £1897.00 ).

Thirdly, the Nat West employee who had previously informed me that I could cancel the PPI has undertaken training to ensure they are fully aware of the correct procedure. He apologized for the incorrect information provided initially concerning the cancellation of the policy.

I have today received a letter from RBS in Manchester saying they are investigating my complaint and have given me the name of a case officer.

I suppose I`ll have to wait for their findings?

Many thanks again Steve.

Good luck Steve I'll be looking out for your update

Gerry x x

Mr_Linnet

Hiya Di, Hiya Gerry,

Many thanks for your continued support and interest, its very much appreciated

I`ll certainly post any responses or developements.

Sincere thanks Steve

di3004

Mr_Linnet wrote: »

Hiya Di, Hiya Gerry,

Many thanks for your continued support and interest, its very much appreciated

I`ll certainly post any responses or developements.

Sincere thanks Steve

That will be good Steve, we look forward to hearing the outcome on this one.:beer: with much pleasure.;)

Mr_Linnet

Just received a response from RBS this morning.

The person carrying out the investigation took into account my previous comments and looked at the documentation available. He forwarded copies of my Loan Agreement Form and Certificate of Insurance.

He went on to mention that I have recently claimed on this insurance during a period of unemployment from April 2009 to Novemebr 2009 which resulted in a total claim payment of £1494.64. He then goes on to state "As this is the case and the policy has paid out per its terms and conditions, this confirms that you understood and indeed had the benefit of the insurance cover" :mad:

Under a sub heading titled Documentation he says " The policy was provided on a "non-advice" basis. This means that no recommendation was made as to whether it was suitable for you. Full information about the policy was given which allowed you to decide for yourself whether it was right for you and whether you were eligible for it.The details of the policy were confirmed in the enclosed documents. The optional nature of the insurance and full details of the eligibility conditions, main benefits and exclusions and cost involved were provided before you decided to apply for the policy. You therefore made a fully informed decision to proceed with the insurance. The policy also came with a cancellation period. This means that if you were unhappy with it or felt in anyway pressured into applying for the policy, you did have the opportunity of exercising this option after you spoke to a member of staff". :mad:

Sub heading titled Decision. " Having carefully considered all the information available to me I have been unable to uphold your concerns in this instance". "I hope that my explanation has proved to be helpful for you, since, in the circumstances, I don`t believe I could have come to any other conclusion" :mad::mad:

Would appreciate any comments or suggestions from the helpful posters who have already contributed in this thread.:D:D

Many thanks in adavance Steve;)

di3004

Mr_Linnet wrote: »

Just received a response from RBS this morning.

The person carrying out the investigation took into account my previous comments and looked at the documentation available. He forwarded copies of my Loan Agreement Form and Certificate of Insurance.

He went on to mention that I have recently claimed on this insurance during a period of unemployment from April 2009 to Novemebr 2009 which resulted in a total claim payment of £1494.64. He then goes on to state "As this is the case and the policy has paid out per its terms and conditions, this confirms that you understood and indeed had the benefit of the insurance cover" :mad:

Under a sub heading titled Documentation he says " The policy was provided on a "non-advice" basis. This means that no recommendation was made as to whether it was suitable for you. Full information about the policy was given which allowed you to decide for yourself whether it was right for you and whether you were eligible for it.The details of the policy were confirmed in the enclosed documents. The optional nature of the insurance and full details of the eligibility conditions, main benefits and exclusions and cost involved were provided before you decided to apply for the policy. You therefore made a fully informed decision to proceed with the insurance. The policy also came with a cancellation period. This means that if you were unhappy with it or felt in anyway pressured into applying for the policy, you did have the opportunity of exercising this option after you spoke to a member of staff". :mad:

Sub heading titled Decision. " Having carefully considered all the information available to me I have been unable to uphold your concerns in this instance". "I hope that my explanation has proved to be helpful for you, since, in the circumstances, I don`t believe I could have come to any other conclusion" :mad::mad:

Would appreciate any comments or suggestions from the helpful posters who have already contributed in this thread.:D:D

Many thanks in adavance Steve;)

Hi Steve

Was this the final response?
If so did they enclose details of the Financial ombudsman service (FOS)?

If not then write back to them and stand your ground until you receive the final decision.
Even though it seems a claim have been made, you may still have other reasons that your not happy with, so work on them.

Otherwise if final I would move on to the FOS.

My hubby made a claim (another bank) but his chances were reduced, so due to this the bank did uphold in his favour, why should we pay out for something in full where it does not fully protect in "full" if you got my drift.;)

Also wait for other opinions on this as well Steve, good luck and please keep us posted.

Di

Mr_Linnet

Hiya Di,

Many thanks for your continued interest in my thread

He didn`t say it was his final response. There was a mention that should I be able to supply him with additional evidence that may alter his decision then to let him know. He would be pleased to review this for me.

In the final paragraph of his letter he says that if I am not satisfied then I can refer this matter to the Financial Ombudsman Service.

Many thanks Steve

di3004

Mr_Linnet wrote: »

Hiya Di,

Many thanks for your continued interest in my thread

He didn`t say it was his final response. There was a mention that should I be able to supply him with additional evidence that may alter his decision then to let him know. He would be pleased to review this for me.

In the final paragraph of his letter he says that if I am not satisfied then I can refer this matter to the Financial Ombudsman Service.

Many thanks Steve

Hi Steve

Your welcome

That is good then so you do have a choice here.

Have you decided on what you want to do? and have they given you a timescale on their decision?

Di

Mr_Linnet

Hiya Di,

No there was no timescale on their decision and no I haven`t decided what to do next. I was hoping to get some advice from previous contributors, assess the information and then make a decision.

Hindsight is a lovely thing but had I known upon the loans conception that the loan insurance monthly premiums content would hardly be worthwhile then I probably wouldn`t have taken it out. Whilst I didn`t have my arm twisted up my back at the time, it was however strongly recommended that I take out the insurance.

I also have an issue with information the local Nat West provided me with. As stated in an earlier post I was informed that I could cancel the insurance content on my policy. It now appears I am unable to cancel the insurance portion of my loan and the Nat West employee who previously told me I could has been given training to ensure this doesn`t happen again!

I have acted and made decisions based on the recommendations and advice given by the local Nat West even though it now appears to be incorrect..

Thanks again Steve;)