NatWest joke offer

robbie45

I have sent my claim to Natwest, my current loan has £2,732 ppi, my last loan repayment is this month.
However this loan was the last in a series of re-finance loans dating as far back as 2003. I sent all information to them.
My application was received by them on aug 14th. 8 weeks later I rang them and they said a letter was sent to me on sept 14th, which never arrived, a second letter came today dayed 14th sept! Offering me a "goodwill gesture" payment of £282!!!
They must be joking, the PPi on my last loan alone was nearly 3k!!
Being saturday they are closed so I rang the Ombudsman to get the ball rolling, they think I have a chance. However I am now thinking Natwest did not assess my claim properly and perhaps only assessed my original loan in 2003 because in their offer letter they say: total refund of ppi premium to date £178 plus 8% interest -20% tax= £282

Surely that's wrong, what about that £2732 ppi i just paid on my last loan???
I don't get it but i wonder should I try to get the claim re-looked at at Natwest before taking it further? would that make things move faster?
Does Natwest randomly sends pitiful goodwill gesture offers out? it seems the case.
Please help if you can, I was really counting on this money.:mad::(

dunstonh

Being saturday they are closed so I rang the Ombudsman to get the ball rolling, they think I have a chance.

Dont read anything in to that. The FOS telephone line is manned by people with the same level of knowledge and experience as you (i dont mean that negatively towards you but to indicate they are not skilled workers). The adjudicators and ombudsman make the decisions and they dont answer the phones. The FOS telephone line is notorious for agreeing with everyone that phones.

When you have loans that were repaid early, there is a relatively pro-rata rebate of the insurance premium. So, you wouldnt expect the whole premium back.

It is possible natwest havent considered all the loans. In which case you should go back to them. Not start the FOS process which will see you put in a queue for 12-18 months whereas dealing with natwest could take days or weeks. Also, natwest may auto payout on small value claims but once the FOS are involved and the FOS levy is going to be charged, they have nothing to lose. With amounts lower than the levy, they may pay out a goodwill offer even if they have done nothing wrong.

robbie45

thank you dunstonh! now that i am a little calmer I do agree with you that they may have only looked at the original loan, I will call them on monday and see how that goes.
many thanks again

johno7819

Keep an eye out for other letters i was in the same situation. Received 2 letters with 6 offers totaling what i was expecting.

Mr_BARGAIN_2

robbie45 wrote: »

I have sent my claim to Natwest, my current loan has £2,732 ppi, my last loan repayment is this month.
However this loan was the last in a series of re-finance loans dating as far back as 2003. I sent all information to them.
My application was received by them on aug 14th. 8 weeks later I rang them and they said a letter was sent to me on sept 14th, which never arrived, a second letter came today dayed 14th sept! Offering me a "goodwill gesture" payment of £282!!!
They must be joking, the PPi on my last loan alone was nearly 3k!!
Being saturday they are closed so I rang the Ombudsman to get the ball rolling, they think I have a chance. However I am now thinking Natwest did not assess my claim properly and perhaps only assessed my original loan in 2003 because in their offer letter they say: total refund of ppi premium to date £178 plus 8% interest -20% tax= £282

Surely that's wrong, what about that £2732 ppi i just paid on my last loan???
I don't get it but i wonder should I try to get the claim re-looked at at Natwest before taking it further? would that make things move faster?
Does Natwest randomly sends pitiful goodwill gesture offers out? it seems the case.
Please help if you can, I was really counting on this money.:mad::(

have u got all the various loan paperwork from 2003

ILW

Was the PPI actually mis sold.

robbie45

Mr_BARGAIN wrote: »

have u got all the various loan paperwork from 2003

No, I wrote to RBS and they just gave me the details, however I have the agreement for my last loan which has £2732 ppi on it.
They all have different a/c numbers which makes me think they have only processed the first loan (the a/c number on the offer letter coincides with this)

had no chance to ring them yet, I think a strong letter is better as I don't think much of their call centre staff.
Does anyone have a good template letter I could use to write to them asking to review the claim and offer?

many thanks!
R:beer:

robbie45

ILW wrote: »

Was the PPI actually mis sold.

yes it was, I know it sounds like a right cliche' but I REALLY was told I would not get a loan without it every time! Despicable people at Natwest, they also told me my elderly parents would be liable in case of my death grrrrrrrr

i will get them though... lol
R;)

robbie45

johno7819 wrote: »

Keep an eye out for other letters i was in the same situation. Received 2 letters with 6 offers totaling what i was expecting.

I did think of that however the offer letter I just got was dated 14th sept as they never sent it in the first place, after I rang them they sent it again and I got it on 14th oct.
This makes me think that there are no other letters in the post
r

robbie45

Update: i have sent my strong letter to natwest today, urging them to relook at my claim, including a copy of their pitiful offer letter and a copy of my latest loan agreement which clearly states the £2732 ppi paid in full, i asked them to add ppi premiums from all loans plus 8% interest and gave them 14 days from receipt of my letter to give me the full amount.
watch this space for more on the saga as i get news!

robbie45

robbie45 wrote: »

Update: i have sent my strong letter to natwest today, urging them to relook at my claim, including a copy of their pitiful offer letter and a copy of my latest loan agreement which clearly states the £2732 ppi paid in full, i asked them to add ppi premiums from all loans plus 8% interest and gave them 14 days from receipt of my letter to give me the full amount.
watch this space for more on the saga as i get news!

Natwest got in touch after this, offer is now £7,100 which I have just accepted, waiting for the money to roll in!!!
:j:j