RBS/Natwest sent letter offering me chance to reclaim ppi - help!

mikioninja

Morning,

I have received a letter from Natwest/RBS offering me the chance to reclaim PPI on loans that I have taken out with them over the last 10 years.

I would just like a little advice on what to put in some of the boxes on the complaint form (Thats what they have called it!)
I am also wondering if it would be easier jsut sending the standard letter that is here on Martins Money rather than filling out the form especially as I cannot remember some of the details - Most of these loans were bought over the phone, I vaguely remember discussing the fact that I was a teacher and unlikely to become unemployed at the time of the loan, but I believe, they then raised sickness as a possible factor, i am just not sure!

I also am a bit of a money dunce and dont really understand some of the phrases used!

So here are the questions that I need to answer on the complaint form - There are a few of them!
Any phrases or advice would be really helpful

Thanks in advance!

B3 Please tell us anything about your complaint. including what happend when you took out this PPI policy. Use this opportunity to explain why you believe the PPI was missold.
- there is then a sub box -
If you think you were not eligible for the PPI policy or the significant exclusions were not explained to you at the point of sale, please give full details below including why you believe that you were not eligible for this PPI policy.
- there is then another box-
If you did not understand that the PPI policy was optional, if you did not choose to take out a PPI policy with your loan or if you felt that we pressured you to take the PPI policy. In addition, your policy should have been sold on a non-advised basis. If you feel you received a personal recommendation to take out the policy, please give full details below.
-and another -
If you feel that we did not explain how your PPI policy was paid for, or if the cost of the policy was not explained please give fulldetails below.
-and another-
if you believe we did not clearly explain to you at the point of sale that only a partial rebate was payable if you cancelled early but after 30 days give full details below.
-and final box-
If you feel that you have other ground for complaint against the sale of PPI policy or wish to give further details please provide any additional information in support of your complaint.


Thanks again

amersall

mikioninja wrote: »

Morning,

I have received a letter from Natwest/RBS offering me the chance to reclaim PPI on loans that I have taken out with them over the last 10 years.

I would just like a little advice on what to put in some of the boxes on the complaint form (Thats what they have called it!)
I am also wondering if it would be easier jsut sending the standard letter that is here on Martins Money rather than filling out the form especially as I cannot remember some of the details - Most of these loans were bought over the phone, I vaguely remember discussing the fact that I was a teacher and unlikely to become unemployed at the time of the loan, but I believe, they then raised sickness as a possible factor, i am just not sure!

I also am a bit of a money dunce and dont really understand some of the phrases used!

So here are the questions that I need to answer on the complaint form - There are a few of them!
Any phrases or advice would be really helpful

Thanks in advance!

B3 Please tell us anything about your complaint. including what happend when you took out this PPI policy. Use this opportunity to explain why you believe the PPI was missold.
- there is then a sub box -

put the truth, if you cannot remember then that is what you put


If you think you were not eligible for the PPI policy or the significant exclusions were not explained to you at the point of sale, please give full details below including why you believe that you were not eligible for this PPI policy.

Put that you were a teacher, the sick package you had etc, if you had life insurance then put that too
- there is then another box-
If you did not understand that the PPI policy was optional, if you did not choose to take out a PPI policy with your loan or if you felt that we pressured you to take the PPI policy. In addition, your policy should have been sold on a non-advised basis. If you feel you received a personal recommendation to take out the policy, please give full details below.

Again, be truthful, if you don't know or cannot remember, put that.
-and another -
If you feel that we did not explain how your PPI policy was paid for, or if the cost of the policy was not explained please give fulldetails below.

You were not told that this PPI was in fact a loan on the loan that was to be repaid over the whole loan term with interest
-and another-

if you believe we did not clearly explain to you at the point of sale that only a partial rebate was payable if you cancelled early but after 30 days give full details below.
You were not aware that if you repaid the loan early there would have been a rebate of the PPI, you have now realised that if you settled early, the remaining PPI after the rebate, would have been paid back by you in the settlement figure so you effectively repaid the whole PPI amount anyway, less the rebate
-and final box-

If you feel that you have other ground for complaint against the sale of PPI policy or wish to give further details please provide any additional information in support of your complaint.

If you have the agreement/s, it would help to put copies in, if you do not, then it is ok. You were not aware at the time of taking these loans out ( but have since learnt from other sources) that for any loan that you consolidated with a new one, the remaining PPI after the rebate was put into the new loan and you paid interest on this to term end also.

Thanks again

Hope this helps.

mikioninja

Thanks for that!

amersall

You are welcome, fingers crossed and let me know how you get on.

hairymonkeyfeet

amersall wrote: »

Hope this helps.

I received the same letter from Natwest regarding a loan I took out with them in 2006. The loan was taken out in one of their branches. I completed the claim form, explaining that it was heavily intimated to me at the time, that my loan application would have a greater chance of success should I take out PPI on it. I also explained that the actual PPI was not explained to me at all. I used some of your responses amersall in my claim and today, I received an offer from Natwest upholding my complaint and with a refund of £8364.24 plus 8% interest of £2423.68 (£10303.18 after tax), I am extremely happy:beer:
I received the initial letter from Natwest in July, an acknowledgment letter of my response on 2nd August, a further letter from them on 2nd September saying they were still looking into it and my offer letter today 7th September. They say they will endeavour to pay the money into my account within 28 days.

Thank you so much amersall and MSE !:j

Aimz82

Hi,

I recieved the same 'you may have been mis-sold' letter from Natwest yesterday. Took out my graduate loan not long out of uni, to buy a new car. Did it in person and i cannot recall at all, ever being told about PPI. I was wondering what to put to stand a better chance of the claim being accepted so this post has really helped.
I am also going to ask them to investigate 2 other loans as well, one of which I was told if I signed up to their advantage gold account I would get a better rate and a pretty much certain acceptance on it.
Will let you know how it goes!

Amy

waxbill

Hi all (expert!!)
My partner has received one of these letters and we are working on the wording which I will give details of in a moment.
The basics are that she had no knowledge whatsoever of any ppi which was never discussed with her when she took out the loan.
My question is this;
Although the forms give her ample opportunity to highlight the reasons why she deems she was mis-sold, it does not allow her to explain the extent of her claim i.e. all monies refunded and 8% interest.
Should we supply an additional letter or will the return on the forms only begin the process?
Thank you in advance!
I had already filled in most of the form prior to finding this thread so I am hoping these are the correct answers!?

IF YOU THINK YOU WERE NOT ELIGIBLE ETC;
nothing about the ppi policy was explained to me at any time.
No discussion took place regarding my eligibility.
I work for the government in the CPS and receive a substantial sickness package and my job is 100% permanent.
I also have my own life insurance policy.

IF YOU DID NOT UNDERSTAND ETC.
I did not choose to take out the ppi policy. This was added without my consent or prior knowledge.

IF YOU FEEL WE DID NOT EXPLAIN ETC.
I was advised to take out loans to consolidate various debts by Natwest. At no stage during the signing of the loan agreement was ppi discussed with me nor was my eligibility considered.

IF YOU BELIEVE THAT WE DID NOT CLEARLY EXPLAIN ETC.
You did not discuss any aspect of ppi with me and it was added to my loan payments without my consent.

IF YOU FEEL THAT YOU HAVE OTHER GROUNDS FOR COMPLAINT.
I wish to complain that ppi was taken out without any due consultation with me or without the merits or otherwise being considered.
The ppi policy has been imposed upon me and applied without my consent.

Sorry if this is a bit long but we want to get it right and I am unsure whether an accompanying letter stating what we expect as the outcome is required.
once again, thanks in anticipation
I have held back on sending in the forms until I have a response from you chaps. . .

Tom and Julia

dunstonh

Although the forms give her ample opportunity to highlight the reasons why she deems she was mis-sold, it does not allow her to explain the extent of her claim i.e. all monies refunded and 8% interest.

You dont need to explain what you want. The redress method is defined by the regulator.

-taff

also bear in mind that while you think your complaint reasons are your own, they are also the weakest ones, because you can bet that they'll be able to produce a document with a signature in that says you did agree to it, you've just forgotten.

You could also say that as you were advised to consolidate debts with a loan, why would you add the burden of extra payments, and that as you've already said, your work benefits meants you would be able to meet the rpayments in the event of sickness.

waxbill

Dunstonh. Thank you.
-taff. I am sure that a signature must have been given for them to proceed. I will however add that the additional burden was not required as you have stated.
Many thanks for the hints

[Deleted User]

waxbill wrote: »

Should we supply an additional letter or will the return on the forms only begin the process?

You don't need an additional letter and you don't need to spell out to them what you expect in return. Do note that you are complaining about the sale of the insurance, you are not claiming on it-there's a big difference.

As -taff said, it's very difficult to complain successfully that you were unaware of the insurance and that it was added without your permission. The Bank will simply produce documentation showing you were made aware and have simply forgotten.

You are reliant on the Bank finding other irregularities with the PPI sale as part of their investigation, otherwise your chances of success are slim.