Natwest PPI Good Will???

valleyboy22

Hi all,

I noticed that when my mortgage last payment was payed off Natwest sent a letter to say all payed for and if had any PPI on it is to cancel it. I did not know I had this and wrote to Natwest to explain this and to re-claim it back.
We had a letter back from them today and said they looked into it and out if concerns and good will gesture they offered just over £2000. Bearing in mind I have had my mortgage over 30+ years and was paying around £30 a month.
Natwest have not committed saying I was miss sold it on the letter, but to me its a lot of money out of good will??
Do u think I should accept or appeal via the financial ombud because maybe Natwest and trying to pull the wool over my eyes??

Cheers all for advice if posted in advance.:D

[Deleted User]

valleyboy22 wrote: »

Do u think I should accept or appeal via the financial ombud because maybe Natwest and trying to pull the wool over my eyes??

It's entirely up to you, but do realise that the Bank can choose to withdraw a goodwill offer and (if FOS don't uphold your complaint) you could end up with nothing. It also takes over a year for FOS to adjudicate.

dunstonh

Bearing in mind I have had my mortgage over 30+ years and was paying around £30 a month.

Did you pay PPI for 30 years?

Do u think I should accept or appeal via the financial ombud because maybe Natwest and trying to pull the wool over my eyes??

Or perhaps they have not investigated the complaint and you are getting lucky (payout is within that ballpark) and if you ask them to investigate, you could end up with the offer being withdrawn if they find out it was not mis-sold.

Hence why it would be better to check your facts before you pursue it.

My guess is that you didnt have PPI 30 years ago and it was a later purchase (it was rare for mortgages to have PPI before the 90s - not impossible but most lenders didnt really offer it until the late 80s). £30 would have been a big mortgage payment it was covering 30+ years ago. Certainly what you would expect with todays levels of borrowing but not over 30 years ago.