Help I am Confused

brad10

I have received paperwork from RBS stating that I may have been charged PPI on loans I have taken over the years - it was a standard letter and stated that accounts would be listed on the attached sheet if applicable - however the sheet was blank and therefore It intimated I was probably not one of the chosen few. HOWEVER knowing of an occasion that I had been given a loan and it had been explained that as I was a low income worker I would have to pay a higher interest rate!! I challenged this at the time to no avail - anyway I called the number on the letter and it turned out there were 4 accounts that should have been listed on the attachment which are now being investigated and RBS put it down to a simple matter of omission from original letter sent. I then asked them to look into the mortgage protection I was sold at time of purchasing my mortgage as I was not informed I had the choice to shop around and also the product sold was for £500 cover monthly if ill but at the time my mortgage was under £200 per month. I have received 2 calls asking the same questions in relation to how the product was sold and now for the first time in 13 years I now have received a letter to review the insurance and if they do not here from me within 7 days the insurance stands as agreeable - there is small print to say if you wish to cancel premiums will be returned as long as you have never claimed (which I have Not) this is where I am confused do I just call and cancel and if so is that all premiums returned or do I call them to advise that I have this under investigation for mis-selling OR is this bank sending me something agreeing to the mis-sale and to claim back going through this channel...... having never had to deal with all this I feel they are running rings round me - can anyone give me a wee bit of advice before I just stick my head under the duvet and forget about it!!

maggy50

Are they quoting the mortgage insurance or loan ?

You will have to establish this , try ringing to find out as the complaints may be dealt in a different departments.

-taff

Can you use some line breaks next time please, your post is just one solid block of text and hard to read.


They are not obliged to tell you you can shop around, and the extra cover could have been to cover all bills, not just your mortgage.

Personally, I wouldn't be cancelling the mortgage cover unless you had alternative cover in place, or until you knoew exactly what it covered.

[Deleted User]

brad10 wrote: »

I called the number on the letter and it turned out there were 4 accounts that should have been listed on the attachment which are now being investigated and RBS put it down to a simple matter of omission from original letter sent.

Are you suggesting this to be cause for complaint? They wrote to you unsolicited, remember? You didn't write requesting the information be sent, so you can hardly complain about their error!

brad10 wrote: »

I then asked them to look into the mortgage protection I was sold at time of purchasing my mortgage as I was not informed I had the choice to shop around

They are not obliged to tell you to "shop around" any more than Tesco will tell you that you can go to other supermarkets.

brad10 wrote: »

also the product sold was for £500 cover monthly if ill but at the time my mortgage was under £200 per month.

It's cover to help with general expenses if you are ill, not simply to pay your mortgage. You could have selected a lesser policy if you wished.

brad10 wrote: »

do I just call and cancel and if so is that all premiums returned

If you cancel, your cover will cease and you will not receive a refund of any payments made.

Nothing you have said indicates that your mortgage insurance was mis-sold, I'm afraid.

brad10

Hi There, Firstly the bank wrote a 'standard' letter entitled dear customer which stated that some customers have been mis-sold and if so the account number in relation to this would be listed on the attachment and if so you were urged to complete the paperwork also attached if you had accounts listed.


It also stated a time limit in which you could return the forms - had I not been aware of at least one instance I would have simply 'binned' the letter as the attachment was blank and simply put it down to a letter the bank had sent to all customers in meeting the quota for informing customers that this practice had taken place in some instances....


As it turns out by going via the bank and stating that this was incorrect as the account I was aware of should have been listed they then stated there were a further 3 accounts under review for mis-selling ( I was totally unaware of these accounts) so therefore had the account I was aware of mis-selling never taken place, I would have never challenged and been blissfully unaware that 3 accounts were being considered ..


.'Do you think the bank would have been in touch to say 'Hey you haven't been in touch' - I think I had every right to raise my concern in their omission of information on the original documentation

[Deleted User]

brad10 wrote: »

had I not been aware of at least one instance I would have simply 'binned' the letter as the attachment was blank and simply put it down to a letter the bank had sent to all customers in meeting the quota for informing customers that this practice had taken place in some instances....

That's exactly what it is, it's not an admission that you were mis-sold-simply an invitation to complain if you have reason to. These letters are sent to start a time-bar on future complaints, but it's still up to you the customer to research whether you have a valid complaint.

brad10 wrote: »

by going via the bank and stating that this was incorrect as the account I was aware of should have been listed they then stated there were a further 3 accounts under review for mis-selling ( I was totally unaware of these accounts) so therefore had the account I was aware of mis-selling never taken place, I would have never challenged and been blissfully unaware that 3 accounts were being considered ..

None of them were being "considered", the Bank (as I said) was merely inviting you to complain about PPI if you had reason to.

brad10 wrote: »

'Do you think the bank would have been in touch to say 'Hey you haven't been in touch'

No. They want to preclude you from future complaints. It's your own choice whether to complain.

brad10 wrote: »

I think I had every right to raise my concern in their omission of information on the original documentation

So, other than an apology for the omission, what are you expecting in reply?

Placida

brad10 wrote: »

Hi There, Firstly the bank wrote a 'standard' letter entitled dear customer which stated that some customers have been mis-sold and if so the account number in relation to this would be listed on the attachment and if so you were urged to complete the paperwork also attached if you had accounts listed.


It also stated a time limit in which you could return the forms - had I not been aware of at least one instance I would have simply 'binned' the letter as the attachment was blank and simply put it down to a letter the bank had sent to all customers in meeting the quota for informing customers that this practice had taken place in some instances....


As it turns out by going via the bank and stating that this was incorrect as the account I was aware of should have been listed they then stated there were a further 3 accounts under review for mis-selling ( I was totally unaware of these accounts) so therefore had the account I was aware of mis-selling never taken place, I would have never challenged and been blissfully unaware that 3 accounts were being considered ..


.'Do you think the bank would have been in touch to say 'Hey you haven't been in touch' - I think I had every right to raise my concern in their omission of information on the original documentation

Did RBS include a form to make your complaint ( or did they forget that too?)

The letter to invite you to complain should refer to why RBS consider there may be cause for concerns in the way PPI was sold to you? This should help you to make your complaint.

[Deleted User]

Placida wrote: »

The letter to invite you to complain should refer to why RBS consider there may be cause for concerns in the way PPI was sold to you? This should help you to make your complaint.

The complaints are already made according to post #1 of the thread.

brad10 wrote: »

it turned out there were 4 accounts that should have been listed on the attachment which are now being investigated