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RBOS mortgage/ overdraft PPI advice please!
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Paul_TT
Posts: 14 Forumite
Sorry to ask again but I need more advice please...
I had a mortgage with RBOS for around £55,000, taken out in 2002 and paid off in 2007 when we sold the house- I have recently found that there was PPI added to this but only in my wife's name (it was a joint mortgage) I don't know how much the premiums were but we got a letter today and they have offered us £132! Does this seem a ridiculously small amount to get back? Do we accept this tiny offer or complain? They have told my wife that if we want to query the amount we need proof of how much it was but we have none of the original paperwork and are just relying on RBOS being honest (yeah right!) as they have it on record but are refusing to tell us so what do we do?
Also, we had an overdraft with them for several years (similar time period to the mortgage) and they have sent us a cheque for £172 as PPI payback on this overdraft, again, no proof of how much we actually paid and for all we know RBOS are simply paying us a tiny amount in the hopes that we won't question it so do we cash the cheque? Or do we complain and demand to see evidence of how much we actually paid? (do we have rights to demand this information given that we don't bank with them anymore and have no original mortgage or overdraft documents?
Thanks for any advice, this place is great! :T
I had a mortgage with RBOS for around £55,000, taken out in 2002 and paid off in 2007 when we sold the house- I have recently found that there was PPI added to this but only in my wife's name (it was a joint mortgage) I don't know how much the premiums were but we got a letter today and they have offered us £132! Does this seem a ridiculously small amount to get back? Do we accept this tiny offer or complain? They have told my wife that if we want to query the amount we need proof of how much it was but we have none of the original paperwork and are just relying on RBOS being honest (yeah right!) as they have it on record but are refusing to tell us so what do we do?
Also, we had an overdraft with them for several years (similar time period to the mortgage) and they have sent us a cheque for £172 as PPI payback on this overdraft, again, no proof of how much we actually paid and for all we know RBOS are simply paying us a tiny amount in the hopes that we won't question it so do we cash the cheque? Or do we complain and demand to see evidence of how much we actually paid? (do we have rights to demand this information given that we don't bank with them anymore and have no original mortgage or overdraft documents?
Thanks for any advice, this place is great! :T
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Comments
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Does this seem a ridiculously small amount to get back?
Not if you only paid a few premiums. However, it is if you paid for years.Do we accept this tiny offer or complain?
If the figure is correct, you accept. if its not then you let them know what they have got wrong.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
That's the point though, we have no idea if it is the right amount, or how much was paid in premiums and for how long as we only recently found out that PPI was added to it and we have none of the original documents0
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You have no info and after all this time they may have very little. If you want to know what data they do have left, you could send them a SAR plus £10.0
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