Clydesdale bank make offer

artycgill

LOAN:£10000
PPI:£2492
REPAYMENT:60 MONTHS
REPAID AT MONTH 28


Hi guys been offered an ex gratia payment of £735 from clydesdale when I paid of loan early I received a rebate of about £800 thay said in letter that this offer is in proportion to what was paid and the rebate I received at the time.
Is this right and do I accept this offer.

would appreciate any advice...thanks

di3004

artycgill wrote: »

LOAN:£10000
PPI:£2492
REPAYMENT:60 MONTHS
REPAID AT MONTH 28


Hi guys been offered an ex gratia payment of £735 from clydesdale when I paid of loan early I received a rebate of about £800 thay said in letter that this offer is in proportion to what was paid and the rebate I received at the time.
Is this right and do I accept this offer.

would appreciate any advice...thanks

Hi there

First of all well done.:beer:

However, as this is a goodwill offer they have not accepted liability, where if this was the case they should refund you ALL you have paid in PPI plus the interest.
If this was not the final decision and your not happy with this, write to them and tell them you still stongly believe it was mis sold and you were out of pocket due to this, you are requesting they reconsider by refunding all you have paid and the interest.
Give them say 14 days.
If they do not do this in your favour, you can always take it to the Financial ombudsman Service (FOS), but please be aware it may take some time with these due to the high volumes of these complaints.;)

Wishing you luck.:beer:

artycgill

Thanks Di, for reply it does say in their letter this is final so I guess that means they are not going to give out the full amount.

di3004

artycgill wrote: »

Thanks Di, for reply it does say in their letter this is final so I guess that means they are not going to give out the full amount.

Hi there

I see.
But if your not happy with this decision, you can always now go to the FOS if you want to.;)

This may take some time due to the high volumes of these complaints they are dealing with, so it is entirely up to you, either way I am wishing you luck.:beer:

dunstonh

Thanks Di, for reply it does say in their letter this is final so I guess that means they are not going to give out the full amount.

It is quite normal for them to not accept liability but still offer some payment. The majority of endowment complaints that resulted in redress were not upheld. When it's down to insufficient information on file and unable to prove it either way, the payment is usually offered without liability as neither you or they can prove anything.

Have they given you a calculation on the PPI?

i.e. £2492 minus £800 rebate for early repayment and then how the £735 fits into that? They may still be charging you for PPI for the period of the loan you had it for but costed for a monthly equivalent.

artycgill

Thanks Dunstonh for your help there is no break down of what the PPI was on the final response letter.
Do you think before I make up my mind on this offer to get a break down of the rebate I received and the offer of goodwill.

thanks

dunstonh

I would ask for a breakdown from them as to how they have come by that figure. Then you can make an informed choice on whether to accept it or pursue them for more.

It looks like they are still charging you for 2 years of PPI. If your complaint was that you didnt want it then the redress doesnt appear to address that.