NATWEST PPI Can anyone advise please.

Banana_Hammock

Hi all on MSE,

I am trying to retrace accounts I have had with Natwest and find out PPI (or whatever name its been advertised as on my policys) that I have paid, I have had numerous loans, mortgages and a visa card with Natwest and as I presently cannot contact the PPI team due to them only working weekdays 8am - 5pm I would appreciate some advise if possible.

I have Natwest MRP (mortgage repayment protection) thats £24.30 per month and has been paid for over 6 years, is this a PPI that would not benefit me with me being Self Employed and offers cover that actually would not do anything for me ?

I have had 2 loans with Natwest and on the policies it shows for a £25,000 loan £23,890.29 for refinancing and £1,109.71 as a cash loan but also an Insurance Loan of £6,677.00 to be paid over the term of the loan included which = £31,677.00 to be repaid with the APR added totals £39,681.60 of which with APR £8,364.72 is the insurance loan, my repayments are broken down as £372.82 per month for the loan and £99.58 for the insurance totalling £472.40 per month over 84 months from October 2006, is the Insurance Loan part a PPI that I have which would not benefit me being Self Employed and worth chasing up ?

The 2nd loan is £10,500.00 for Home Improvements with £2574.00 added as a Insurance Loan totalling credit of £13,074.00 and with interest of £4,719.60 added equals £17,793.60, meaning a monthly outlay of £119.08 for the loan and £29.20 for the insurance over 120 months, is this a PPI that can be reclaimed again due to my employment circumstances and the likihood that the insurance would not cover me ?

If these loans had been settled with another loan, would the insurance's also have been included as part of the settlement figure or only charged for what was paid from start to settlement.

Sorry it sounds a little jumbled but I have limited documents due to a house fire which cost me a lot of saved paperwork and as a result I am trying to get back replacement documents to see where I can go with this,

Any info or advise would be greatly appreciated.

amersall

I have Natwest MRP (mortgage repayment protection) thats £24.30 per month and has been paid for over 6 years, is this a PPI that would not benefit me with me being Self Employed and offers cover that actually would not do anything for me ?

Post this question here
http://forums.moneysavingexpert.com/forumdisplay.php?f=187
They can help you more with MPPI.

If these loans had been settled with another loan, would the insurance's also have been included as part of the settlement figure or only charged for what was paid from start to settlement.

When you settled a loan with another you will have been given a rebate of PPI for the first loan, the remaining PPI will have been carried over to the next loan and so on....
If you win redress the rebates they gave for each loan will be taken off the redress.

Were the PPI amounts and interest on these loans paid back to the loan in one monthly payment?, if they were then these were front loaded PPi, an insurance that was put on at the start of the loan and repaid over the loan term with interest, if you cancelled this PPI the loan would have been reset without PPI and this may have meant the apr and term increasing, you would have received a rebate of the PPI but the remaining PPI would still be on the loan as before with interest.
This is the most upheld of all PPI reclaims and this is the reason you use.

You only need the account numbers and reasons for mis sell to put a claim in, if you get the loan numbers then make the claim.
If you paid these loans by DD then look on the DD list at your bank for the loan account numbers.
If you only have one account number then use that and ask for all other loans that you consolidated to be taken into account.

Banana_Hammock

Hi thanks for your advice, the loans had the insurance taken out monthly it did not show up seperately but it was included as part of the monthly outgoing if you get me so it shows one lump sum deducted, I have had a few loans then "redone" them to settle and replace with another loan so Id expect obviously that Id only be able to reclaim PPI paid out than what was for the term of the loan, Im just afraid of asking and being told told that the Insurance wasnt PPI but I remember being told countless times when signing that "as your self employed how would you pay if you lost your job....itd be scary..this cover would help you repay.." but being Self Employed you cannot lose your job as such, merely work dires up so Id always be Self Employed just with little income which I think would mean the policy would not pay out as there is no small print to suggest cover is applicable if work "goes slack" theyd simply laugh it off.

I was stupid when I was younger, as many are, taking loans out when work was great before the recession but past few years its gotten harder n harder and if I can reclaim something thatd ease my worries greatly rather than pay a CMC to take a large cut.

Can the bank simply tap my account number in and financial hisory then load up data that shows what I had, when I had it, what I paid, how it was settled and what types of PPI i may have had, I am in the same boat with car loans I took out and certainly one with a MBNA/Virgin card that charged me x% of an outstanding balance as a PPI per month until I had it removed after about 6 months, would this qualify too ?

Sorry to throw a load of questions out there, I just get up in the morning and work hard and come home, my financial accumen is not great and this is the 1st step on the ladder to finding out if I can reclaim monies that may have been mis sold and of no use.

Greatly appreciate your time and advice I really do, all of you.

amersall

Glad you are looking to this yourself and asking questions.

Please ignore ppidisgrace on the other thread you posted on, he is a claims handler and is spouting lies about how claims co do more and get you more, this is crap, stick with this thread here and we will all help you with this for free.

amersall

the loans had the insurance taken out monthly it did not show up seperately but it was included as part of the monthly outgoing if you get me so it shows one lump sum deducted,

This is Single Premium PPI that I explained in my first post, this is the reason for mis sell that you use for these.
Do you have any account number at all for any of these loans?, if you do then you can put the complaint into Natwest even if you only have one account number, you can let them know that you had other loans that were consolidated including this one.

misschicken

Do as Amersall says

amersall

Hi, I am answering your post each item individually so that you will not be baffled by all the info, please bear with me and we will get there.
Be back in mo.

amersall

misschicken wrote: »

Do as Amersall says

Thank you, please chip in if you want, two heads are sometimes better than one

amersall

You have two guides now for free Banana :D:D ask away.

amersall

http://blog.moneysavingexpert.com/2012/04/27/is-it-worth-using-a-ppi-claims-company-10-things-you-need-to-know/

This makes for good reading?.

amersall

Can the bank simply tap my account number in and financial hisory then load up data that shows what I had, when I had it, what I paid, how it was settled and what types of PPI i may have had

Yes they can in most cases, could you get into a local branch? if you could they should give you this info on any loans you had with them.