Natwest PPI

Dirks_Engine_Room

This is first post. I am coming to the 8 week deadline (sent off MSE letter) for a response from Natwest over a loan which I took out in September 2004. The initial amount was £5K (worked out to be £7200 with interest and PPI), with repayments of £128 (£28 of which was PPI). In January 2007 (30 months later), I renegiotiated the loan (still had balance of £3750) the loan went up to 8750, and took on board repayments of £182 (£31 PPI). I cancelled the PPI in Feb 2009 and repayments went down to £169 as PPI was front loaded. I imagine first loan was also front loaded.

I will finish paying loan in January 2011.

I am a teacher and PPI was offered without asking me any questions, and when I asked manager he told me I would be stupid not to take it. When I renegotiated the loan I was not asked about PPI it was simply added. I don't even have a tick on the PPI question on my copy of the loan agreement.

What do people think of chances and should I just continue to wait even though 8 week deadline has passed. I have e-mailed three times and have no response from customer relations.

Any ideas?

Thanks

di3004

Dirks_Engine_Room wrote: »

This is first post. I am coming to the 8 week deadline (sent off MSE letter) for a response from Natwest over a loan which I took out in September 2004. The initial amount was £5K (worked out to be £7200 with interest and PPI), with repayments of £128 (£28 of which was PPI). In January 2007 (30 months later), I renegiotiated the loan (still had balance of £3750) the loan went up to 8750, and took on board repayments of £182 (£31 PPI). I cancelled the PPI in Feb 2009 and repayments went down to £169 as PPI was front loaded. I imagine first loan was also front loaded.

I will finish paying loan in January 2011.

I am a teacher and PPI was offered without asking me any questions, and when I asked manager he told me I would be stupid not to take it. When I renegotiated the loan I was not asked about PPI it was simply added. I don't even have a tick on the PPI question on my copy of the loan agreement.

What do people think of chances and should I just continue to wait even though 8 week deadline has passed. I have e-mailed three times and have no response from customer relations.

Any ideas?

Thanks

Hi there and welcome.

I think you do have a chance here with the reasons you have given.

I would wait a few days past the 8 weeks, sometimes they can run a little later than the timescale, and if you hear nothing by then, I would chase them up by sending them a further letter.

However - if you hear nothing after the 8 weeks have passed, your in your rights to complain to the financial ombudsman service (FOS), but personally I think it may be worth giving them a little longer, as I understand they have backlogs to get through, even though it would be nice if they could let you know if they require more time.

If you decide to want to send a follow up letter, I believe there is on on the link here.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Hope you hear something soon, keep at them and good luck.;)

Mich81

Have you had a letter from Natwest acknowledging your complaint?

I got one of those within a week of sending my letter asking for it back - and it promised a response within 4 weeks, and if they couldn't resolve they'd tell me why.

Did you send it to the PPI Complaints team in Manchester? I've found them pretty helpful over the phone so might be worth calling them.

Andy_Boro_2

i would as mich suggest call and make sure they have received your complaint otherwise you may be waiting without them actually receiving the letter