NATWEST PPI Can anyone advise please.

amersall

Loan Amount : £25,000
Loan Term : 84 Months
Monthly Repayment : £472.40

Loan Breakdown of payments..
Total borrowed : £31,677.00 (£23,890.29 for Refinancing, £1,109.71 Cash Loan and £6,677.00 Insurance Loan)

Total payable : £39,681.60 (includes £8,364.72 Insurance Loan)
APR : 6.8%
Repayments of £472.40 x 84 (£372.82 Loan repayment £99.58 Insurance Loan repayment)

Total Charges : £8,004.60 (interest includes £1,687.72 for Insurance Loan)

With this loan as it is closed,they will give you (if you win redress) all the PPI amount back £8364.72 less the rebate they gave when you settled, as we do not know what the rebate was then you have to see if you win and they will give you a breakdown of the actual pay out.

Just put cheque payable to RBS, now you have me with this??? thought these were Natwest loans, are they part of RBS? see you are better informed than me here

The info I receive will it show absolutely everything I have ever had thats been linked to my account or just anything natwest ?

This should throw up all the info they hold on you, agreements too if they have this.

its unfair that they dont already know every customer thats paid PPI and just contacts them but that'd be too easy or am I being daft ?

This would be far too easy :D
I do not want anything from you for helping you it is my absolute pleasure I get recompense knowing I have done a claims co out of the hefty % plus Vat they charge that is redress for me :D

Banana_Hammock

Thanks Amersall,

Will they work out all the figures when I send the claim form in (the one that was on the link earlier) I dont need to start rattling out figures of what I paid and what they owe do I ? Id have thought they would have to do this to the nearest 1p wouldnt they to avoid being fraudulent by cutting corners.

Do you feel my claim for the policy being missold is correct ? I put on the forms when it asked why do I feel its now missold "because I am paying for a product I was advised would benefit me if work dried up and the piece of mind the PPI would give would give me one less worry to contend with, the advisor told me it was a product that could be scary to not have being in the self employment world but as it turns out the charges paid for a PPI that would never activate for me has made my life harder".

My grounds for wanting a refund is because they sold me a product of no use to me.

Thanks Amersall again, believe it or not Im only doing this thanks to your advice myself, I likely would have used a CMC and been ripped off vastly without yourself and Magpies advice, I will keep you posted always please dont forget me cos im addicted to this site now and your help really does make life easier.

magpiecottage

Banana_Hammock wrote: »

Sorry pressed REPLY when I hadnt finished, is it better to register my claim with Natwests PPI service first before going to the FOS incase Natwest refuse I have a case ?

You must give NatWest a chance to resolve the complaint first. Send the form off first class and get proof of posting (free from the post office) after taking a copy. Keep the proof of posting with it.

Banana_Hammock

Thanks again guys n gals,

I'm really nervous as the 1st step is made and being like I am I expect to be fobbed off by the bank but honestly cannot see how but they have their ways I guess, it's really make or break for me but this is one loan of 4 I am claiming on, is it best to send all 4 to them or one at a time ?

Certainly learned valuable lessons over the years and will never be as silly again, being young I thought the income I was on would always be there but recession an other reasons decided otherwise, but this may turn out to be a lucky escape and maturity gained and financial sense developed and not spend what I don't have rather than what I foresee what I may have.

The step by step help will never be forgotten and good people are often hard to find that don't wish to smack your hands and say "deal with it you put yourself there!" I'm not one to ask for sympathy I just want an even keel and cover that would work for what I pay for, thank you again and I'll update every response I get, please don't forget me, thanks

Banana_Hammock

Hi Amersall,

I have concluded the Natwest Claim Questionairre and on the part asked why do I now deem this PPI not right for you I added, that the PPI was front loaded and another loan ontop of the loan with interest for a cover policy that was of no use to me and ran for years without query, admittedly also by myself, and why was I not asked when redo'ing newer loans was I not told that the PPI would never help me and only when my new relationship manager called me in did she revamp a new loan minus the PPI (didnt say why it was removed but it knocked £70+ per month off my monthly outgoing so looked great), the new loan was very large and involved a large portion as refinancing debt from other loans so itll be interesting to see if the new loan did actually in part pay off any PPI.

I also included on the extra space that this was the 1st of 4 claims and was it necessary to send a further 3 claims in or is this single one with account number for where the money was withdrawn from and 1 loan account number for a loan enough to unlock and view everything I paid, I told them I was requesting my financial records from the data protection manager so I could throughly investigate just what i had paid over time and that I hoped Natwest could aid this and find a satisfactory conclusion..... Would you say this is right what I said or jumping the gun a wee bit as in telling them basically Im coming for them in 4 claims or is it best to get it out in the open right away so at least they know im on the ball (or more like you have helped kick me up the bum to get things going : ), Im so unsure on how strong my claim is, personally I think its strong but its easy to have rose tinted glasses when you have been as silly as myself over the years.

Hope to hear soon, thanks for everything.

amersall

Banana_Hammock wrote: »

Hi Amersall,

I have concluded the Natwest Claim Questionairre and on the part asked why do I now deem this PPI not right for you I added, that the PPI was front loaded and another loan ontop of the loan with interest for a cover policy that was of no use to me and ran for years without query, admittedly also by myself, and why was I not asked when redo'ing newer loans was I not told that the PPI would never help me and only when my new relationship manager called me in did she revamp a new loan minus the PPI (didnt say why it was removed but it knocked £70+ per month off my monthly outgoing so looked great), the new loan was very large and involved a large portion as refinancing debt from other loans so itll be interesting to see if the new loan did actually in part pay off any PPI.

I also included on the extra space that this was the 1st of 4 claims and was it necessary to send a further 3 claims in or is this single one with account number for where the money was withdrawn from and 1 loan account number for a loan enough to unlock and view everything I paid, I told them I was requesting my financial records from the data protection manager so I could throughly investigate just what i had paid over time and that I hoped Natwest could aid this and find a satisfactory conclusion..... Would you say this is right what I said or jumping the gun a wee bit as in telling them basically Im coming for them in 4 claims or is it best to get it out in the open right away so at least they know im on the ball (or more like you have helped kick me up the bum to get things going : ), Im so unsure on how strong my claim is, personally I think its strong but its easy to have rose tinted glasses when you have been as silly as myself over the years.

Hope to hear soon, thanks for everything.

Hi , you have given far too much info here!!!! this won't complicate things but it is rather long you have filled it in now so send it and see what they come back with.

Banana_Hammock

Its yet to be posted Amersall, I can change the last bit if you think itd be better, could you word whatd be better to put to highlight i know what I am talking about, sometimes i talk to much thinking itll help.

It says any further information use the last page which I put what I told you.

Thanks.

Do you think Ive a good chance ? Posting it tomorrow. Should I mention all 4 loans of just leave it as one for now and send the other 3 as and when account numbers turn up ?

amersall

All you put is the fact that the loan number you have was one of 3 others that were used to consolidate each time, ask them to look at these as well,this goes in the part that asks for agreement numbers.

Your reason for mis sell is the fact these loans had front loaded PPI that was added to each consolidation loan there after.
You can put you were self employed and the reason why you would not be covered ( as you said previously ) on this part of the PPI.

The fastest way would be to ring them and do this over the phone, give the account number you have and tell them 3 others were there ( as I said ) with the reason for mis sell on all 4, do not go into too much detail they will take your reason and start the claim, they should find all the loans from the one agreement number you have, if they do not then it does not matter because you have requested this info anyway and they will do the claim for the one you have given, you can put the other 3 in when you get the paperwork.


08457 888 444

Banana_Hammock

Thanks so much Amersall,

Ive posted the claim form this morning 1st class recorded delivery so hopefully they will get it tomorrow so I expect now to be contacted with receipt of it and process of claim/s then the 8 week wait on pins to see what they decide.

Ill keep you posted on how things go and fingers crossed Ill get back what was paid out incorrectly.

amersall

Banana_Hammock wrote: »

Thanks so much Amersall,

Ive posted the claim form this morning 1st class recorded delivery so hopefully they will get it tomorrow so I expect now to be contacted with receipt of it and process of claim/s then the 8 week wait on pins to see what they decide.

Ill keep you posted on how things go and fingers crossed Ill get back what was paid out incorrectly.

Good luck, fingers and everything else crossed