advice about ppi

miss_missy

hi all
can anyone help about 2 weeks ago after first coming onto this site i went to ask natwest to cancel my ppi on my loan they said yes its no problem and also said i would get a partial refund
i have since had a letter stating that the ppi has been canceled and payments reduced by £29 although this will not start until after my next payment and it had no mention of any refund
however i was under the impression that they would go down by at least £50 they stated in the letter that the ppi amount reduces over the loan term because the loan is more risk you pay more ppi to begin with than you do at the end and therefore the amount reduce is less than what is stated in the original agreement

can anyone clarify that this is correct it just seems odd that had i canceled it a couple of years ago my payments would be less

any advice please
thank you
mm

angelsam1984

Hi mm

I would ask for a breakdown of payments BUT I don't think that they would refund any past payments because they are time spent and covered you for that period (I am guessing your talking about Payment Insurance.)


HTH

Sam