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should we accept offer from NRAM and can we end up with nothing if we go to the FOS
meandthee
Posts: 2 Newbie
Hi Just looking for some advice/general info
We sent a letter off 2 wks ago to claim against our old norther rock mortage
it was a 125% mortage with was a 100% secure and 25% unsecure loan we were mis sold the PPI from them over the phone any way we got two letters off them stating the were looking in to it (we assumed the two letters were 1 for the 100% mortage and 1 for the extra 25% unsecured loan) we have had another letter back today offering to refund £1,144 for premiums and £451 8% simple tax but dont know weather to accept it?!
Our PPI for all 125% was around £52 a month so our calculations would have expected more money to be refunded unless we are right that there treating our claim as two separte cases in that case we should be due another letter soon...
Has anyone else had a similar situation?
can anyone explain how the simple tax is worked out?
and does anyone know if we decided to go to the FOS rather than getting more money could we end up with less or nothing at all?
Any advice is apreciated as this is out first time claiming
many thanks
We sent a letter off 2 wks ago to claim against our old norther rock mortage
it was a 125% mortage with was a 100% secure and 25% unsecure loan we were mis sold the PPI from them over the phone any way we got two letters off them stating the were looking in to it (we assumed the two letters were 1 for the 100% mortage and 1 for the extra 25% unsecured loan) we have had another letter back today offering to refund £1,144 for premiums and £451 8% simple tax but dont know weather to accept it?!
Our PPI for all 125% was around £52 a month so our calculations would have expected more money to be refunded unless we are right that there treating our claim as two separte cases in that case we should be due another letter soon...
Has anyone else had a similar situation?
can anyone explain how the simple tax is worked out?
and does anyone know if we decided to go to the FOS rather than getting more money could we end up with less or nothing at all?
Any advice is apreciated as this is out first time claiming
many thanks
0
Comments
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but dont know weather to accept it?!
Why?Has anyone else had a similar situation?
Virtually everyone getting a refund.
Unless the calculation is wrong then you will not get any more. Also, if it is a goodwill payment rather than an upheld complaint (which it probably is) they could choose to withdraw the goodwill offer if you go to the FOS.and does anyone know if we decided to go to the FOS rather than getting more money could we end up with less or nothing at all?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
we dont know weather to accept because we think we may be due more as the refund doesnt amount to how much PPI we paid..
when i say has anyone else had a similar situation im refering to a split mortage and we had two replies to the initial complaint
it does state its a gesture of goodwill... so we could possible end uo with nothing if we take it further!!0 -
Ring them and ask if they are looking at the other claim,then you will know for sure.0
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