RBS / Natwest Offer Breakdown Letter

dunnc64_2

Hi All,


Wondered if anyone can offer advice. I have received the following letter with break down offer of the PPI claim.


"Your Payment Protection Insurance on loan accounts with Natwest


Further to your request for additional information concerning your PPI goodwill offer, please find below a break down at loan level.


Loan 1 - Amount - £18,000.00 -
Total PPI goodwill offer including gross interest = £242.82


Loan 2 - Amount £20,000,00
Total PPI goodwill offer including gross interest = £186.59


Loan 3 - Amount £8,000.00
Total PPI goodwill offer including gross interest = £76.74


Loan 4 - Amount £14,850.00
Total PPI goodwill offer including gross interest = £8.19


Loan 5 - Amount £13,400.00
Total PPI goodwill offer including gross interest = £9.21


Loan 2 - Amount £19,500.00
Total PPI goodwill offer including gross interest = £7.75


TOTAL Amount £531.30"


I was hoping for a little bit more information, and was trying to avoid going down the SAR route, but if I have to I will. Ideally I was hoping they could say when the PPI was taken out, and when it ended / was cancelled - as I do not recall cancelling any of the PPI (a few of them I cant recall taking it out either)


It seems like a low offer in comparison to others based on the amounts taken out.


Could anyone offer me any advice on A) if it looks like a fair offer, and next steps to challenge this if so


Thank you


Kind Regards


Dunnc64

maggy50

dunnc64 wrote: »

Hi All,


Wondered if anyone can offer advice. I have received the following letter with break down offer of the PPI claim.


"Your Payment Protection Insurance on loan accounts with Natwest


Further to your request for additional information concerning your PPI goodwill offer, please find below a break down at loan level.


Loan 1 - Amount - £18,000.00 -
Total PPI goodwill offer including gross interest = £242.82


Loan 2 - Amount £20,000,00
Total PPI goodwill offer including gross interest = £186.59


Loan 3 - Amount £8,000.00
Total PPI goodwill offer including gross interest = £76.74


Loan 4 - Amount £14,850.00
Total PPI goodwill offer including gross interest = £8.19


Loan 5 - Amount £13,400.00
Total PPI goodwill offer including gross interest = £9.21


Loan 2 - Amount £19,500.00
Total PPI goodwill offer including gross interest = £7.75


TOTAL Amount £531.30"


I was hoping for a little bit more information, and was trying to avoid going down the SAR route, but if I have to I will. Ideally I was hoping they could say when the PPI was taken out, and when it ended / was cancelled - as I do not recall cancelling any of the PPI (a few of them I cant recall taking it out either)


It seems like a low offer in comparison to others based on the amounts taken out.


Could anyone offer me any advice on A) if it looks like a fair offer, and next steps to challenge this if so


Thank you


Kind Regards


Dunnc64

I would SAR them.

It seems a low goodwill offer to me.

fozmcfc

Very low to me too.

For my 3 loans the highest of which was £7500, I've been offered nearly £6k

[Deleted User]

Remember that the Bank have not actually upheld the complaint, they have decided to make a goodwill offer without any investigation. If pressed, they can withdraw the offer and then reject the complaint completely.

Goodwill offers can be withdrawn if refused and there are no guarantees that a full investigation will yield an upheld complaint.

A SAR will cost £10, but will not give you any more ammunition to fire in your complaint, probably just confirmation that what they are offering is what you paid (plus interest).

It looks from the details provided as if only the first loan had any PPI and that the subsequent refunds are so "low" because they are the remnants of the original loan's PPI which was passed onto the subsequent consolidation loans...

maggy50

Depends on the date that the first loan ran from.

My loan 2002 was 8k and my PPI complaint upheld 2012 was a refund of 2.8k. Luckily I had no other loans Nat West did but try though to tempt me further.:o

[Deleted User]

maggy50 wrote: »

Depends on the date that the first loan ran from.

No, it depends on the PPI actually paid and any rebate applied for early closure. No one receives a refund (before interest) of any more than they actually paid.

maggy50

Moneyineptitude wrote: »

No, it depends on the PPI actually paid and any rebate applied for early closure. No one receives a refund (before interest) of any more than they actually paid.

Its the old chestnut " Goodwill " do you accept an offer on a complaint not fully investigated is it worth the risk ?

[Deleted User]

maggy50 wrote: »

Its the old chestnut " Goodwill " do you accept an offer on a complaint not fully investigated is it worth the risk ?

All the goodwill offers I've seen have been a full refund of the amount paid. The offers are usually only made because they are for amounts which fall below the Bank's floor limit for auto-payment and so are less than the FOS fee.
This particular case doesn't seem any different..

-taff

How soon did you consolidate loan1 with loan2?

dunnc64_2

Hi -taff


First loan was taken out February 2006 - then the 2nd one to consolidate this in September 2007.


I may just accept this offer if it look correct, I have requested a SAR also. I was wondering if anyone had any similar experience of being offered a low amount and changed it round!


Thank you for you advice so far.


KInd Regards


Dunnc64