Natwest write to me about PPI- I have questions

SophieDurrant_2

Hi,

I got a letter from Natwest about PPI. It gave me details of the loans, some examples of reasons I could have been mis-sold and a form to fill in to lodge a complaint.

The only thing is that because it was so long ago (the oldest loan is 9 years ago) I can't really remember a lot of detail, can I still lodge a complaint?

One of the reasons that the letter gives as an example is that the PPI had to be 'sold on a non-advised basis,' what does this mean?

The other one I think might be applicable to me is the cost of the PPI being explained to me... It says in the explanation that the PPI would be added to the cost of the loan and I would pay interest on it at the same rate as the loan. I don't remember if this was explained to me or not but reading the explanation, I did not already know that this was how it worked and I am thinking that if this had been explained to me at the time I would have understood, does that make sense?

Any advice would be greatly appreciated.

Thanks,

-taff

That's nothing to do with non advised, that's single premium and an excellent reason.
Non advised is when you bought it yourself, either online or by post.

McKneff

My daughter received one of these letters a few weeks ago, at the time of the loan, she was in a bad place. She remembered very little, filled in the form as much as she could, lots of 'don't remembers' 'don't know's'
Last week she received a cheque in the post for just under £800.

Just tell the truth as far as you can remember it....

SophieDurrant_2

-taff wrote: »

That's nothing to do with non advised, that's single premium and an excellent reason.
Non advised is when you bought it yourself, either online or by post.

So, say if there were alternative PPI products I could have bought myself and they only gave me the option of having their product, that would mean that it was advised rather than non-advised?

Thanks

-taff

No, they are not obliged to tell you you can get it chepaer elsewhere.


Single premium is an excellent reason.....

dunstonh

So, say if there were alternative PPI products I could have bought myself and they only gave me the option of having their product, that would mean that it was advised rather than non-advised?

No. There is and never has been any requirement to tell you that. it would not be logical for many businesses either. You have a good enough reason in single premium. Dont waste time on myths.