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ppi offer on loan
lotti777
Posts: 3 Newbie
hi there . can I get some advice , I had a personal loan with nat west back in 1990 for £1000.the loan was over twelve months . I have had an offer from the bank they have offered me a net amount of £240.. does this seem about right?. can you help?.. many thanks...:rotfl:
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Comments
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It depends what the original PPI amount was and if the loan finished early.
On a £1,000 loan the £240 looks good.0 -
Hi , thanks for the reply .. the amount of ppi payed was just over £100 pound they are telling me and I payed the loan over twelve months .0
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Did you send the original loan documents with your complaint, or did they have the details in their systems? The banks usually provide a breakdown of how they calculated the redress offer or is it a goodwill gesture?,0
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Grab it and run for the hills, well done on getting it refunded from that long ago.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
Thanks for the reply guys.. the bank had the info on there system.. on the letter it says refund of ppi premiums £100.44. Then interest £174.90. Then minus 20% tax.... Looks like I better snatch there hand of then . Cheers again .0
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No I would not accept any ppi policy taken out before April 93 should receive 15% simple interest as per fos rules good luck0
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Mr_BARGAIN wrote: »No I would not accept any ppi policy taken out before April 93 should receive 15% simple interest as per fos rules good luck
I am very interested to hear about this as I've had a couple of complaints upheld for ppi policies pre-April 1993 where the bank only paid 8% interest.
Can you tell me where it mentions this rule on FOS website? Does it also apply to other types of redress eg endowments pre April 1993? Thanks0 -
http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi/redress.html#compensation
endownments don't have PPI.Non me fac calcitrare tuum culi0 -
http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi/redress.html#compensation
endownments don't have PPI.
Never said they did. I was asking if this rule applied to other types of redress covered by FOS, pre April 19930 -
Mr_BARGAIN wrote: »No I would not accept any ppi policy taken out before April 93 should receive 15% simple interest as per fos rules good luck
Just found the rule on FOS about interest on redress pre 1st April 1993, it applies to endowments as well. Thanks for pointing it out.0
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