Goodwill offer from RBS

kitty1801

Hi

I put in a complaint to RBS about PPI that was added to a mortgage that we took out in Jan/Feb 2004. We were unaware that this payment was set up for us and it was never checked if the product was suitable for us either so I believe we have a case.

The bank replied to us this week to say they would be prepared to offer a goodwill offer of £1700 + £500 interest (so £2200 in total) without any admittance of liability.

I have a few questions - the PPI was in place from Jan/Feb 2004 until Oct 2009 so are we restricted to how far back we can claim or can I claim for all payments made in that period?

Second, the PPI paid over the full period was approx £3200, so is worth me taking the complaint further and if anyone has experience in doing so, how should I approach it? The letter did not expressly say it was a final offer but does refer me to the FOS if I am not happy.

I am really worried about going to the FOS and them rejecting the claim, therefore I get paid nothing, but I think if the bank have made a 'goodwill offer' of this level then I must have a strong case.

If anyone has dealt with claims similar to this then I would appreciate any help on how to proceed....

amersall

What reason did they give for the goodwill gesture and did you pay the ppi to full term?.

kitty1801

They just said 'In the circumstances, and given the amount of time that has passed since you made your complaint, as a gesture of goodwill and without any admission of liability, the Bank is prepared to make you the offer detailed below'.

The mortgage was transferred to RBS from Halifax in 2004 and at the time of transfer I think there was about 22 years left to run on the mortgage. The PPI was cancelled in 2009 when we realised what it was we were paying (we pay lots of different amounts to RBS for various car/home insurance and loans so the PPI went unnoticed until then)

amersall

As you cancelled the ppi in 09,you would not have made anymore payments towards the ppi to the date of redress,you only get ppi back that you have paid,less any rebate they gave you when you cancelled this.

Wait and see if anyone else can guide you anymore with this,but that is what it looks like to me.
I assume mortgage ppi works the same as loan ppi?.

Dunstonh or Magpiecottage know more about this type of ppi,hopefully one of them will post.

kitty1801

Hi, thanks for your reply. When I asked how far back I could go with the claim I meant can I claim for the whole period I was paying PPI or can I only go back for a certain length of time (ie, if you can only go back 6 years then I can only claim back to Jan 2006), it's just so that if I want to take it further I know what payments I take into account in my claim