Nationwide Loan PPI

Tims_Wifey

We have a loan currently running with Nationwide. I have found the annual statement with the account numbers on and details of the payments made but it does not state if we are paying PPI in the monthly amounts or in the loan breakdown. I have downloaded first template letter requesting details of the original loan. When/if the info is sent back should this then state of we are paying PPI or not as we really cannot remember. The loan was arranged 4 years ago over the phone and we still have another 3 years to run on it.

di3004

Tims_Wifey wrote: »

We have a loan currently running with Nationwide. I have found the annual statement with the account numbers on and details of the payments made but it does not state if we are paying PPI in the monthly amounts or in the loan breakdown. I have downloaded first template letter requesting details of the original loan. When/if the info is sent back should this then state of we are paying PPI or not as we really cannot remember. The loan was arranged 4 years ago over the phone and we still have another 3 years to run on it.

Hi there

Yes the agreement should enclose details of both loan and ppi, however if you contact them direct they may confirm this over the phone.
With it being an active account you have the right to know straight away by contacting them.

You can then continue to make the reclaim on the ppi for whatever mis selling reasons you have by completing the reclaim questionnaire as on step 3 below. Remember to keep copies as well, good luck.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

Tims_Wifey

Big thanks for your help.
We are not even sure if we have PPI, we have just assumed we are paying off the loan, which we may well be. If we have ben paying for it without knowing then I assume we could have been mis sold on the basis of being "fully protected" without realising it. Will send the letter off to make sure , hubby is not good with finance stuff!