Lloydstsb offer does not add up

shellmont

Hi, I received my offer from Lloyds and was really pleased as its only 7 week ago i sent in my claim.
The offer is for £3770.73 and this is there calculation
Refund of premiums = £2,175.71
Early settlement difference = £474.40
Interest at 8% to 09/07/12 = £1,847.85
TOTAL = £3,770.73

Am I correct in thinking this is wrong? and the 3 amounts should be added together.
thanks

di3004

Hi and welcome

So the difference of when adding up is that £727.23 down?

I would contact them to double check on this, tell them it does not add up.

On the other hand, although I am not the one for the calculation side of ppi things, did they mention about any deductions being paid to the HMRC of the interest?

Some banks automatically deduct the interest now at a basic rate, but if they did they should confirm this to you, or otherwise you contact the HMRC yourself direct.

Meanwhile, hopefully someone will be along to check this out for you.
Good luck.;)

Well done by the way!:beer:

dunstonh

Am I correct in thinking this is wrong? and the 3 amounts should be added together.

Refund of premiums minus early settlement difference plus interest

oscar52

dunstonh wrote: »

Refund of premiums minus early settlement difference plus interest

I was going to say the same, BUT:
2,175.71 (premiums)
-474.40 (previous refund / early settlement)
1,847.85 (interest)

Comes to 3549.16,

So the calculation still does not add up correctly

shellmont

hi, the loan was settled early, but i did not get a refund or the balance on the loan reduced at the time.( have paperwork)
I have just noticed i paid £1980.80 for my ppi not £2175.71
will ring them they might have me mixed up with someone else
thanks