Old Natwest Loan

Vee8

Hi all, I'm a newbie on here and want to as a question.

I have heard, on the radio, recently, that it's possible to claim PPI back off loans as old as 25 years.
Is this correct?
If so, I have none of the paperwork but I have the account number and the approximate date plus the loan amount.
How do I go about claiming?

dunstonh

I have heard, on the radio, recently, that it's possible to claim PPI back off loans as old as 25 years.
Is this correct?

In many cases, that is correct (exclusions do apply). However, the further back in time you go, the less likely evidence will exist and that can reduce the chances of a successful complaint. So, it really depends on the complaint reasons.

How do I go about claiming?

You complain to the lender (or person that sold the loan if a broker - although most brokers were not regulated until Jan 2005). Your complaint should state the reasons you believe it was mis-sold. Or you can complete the FOS questionnaire which has a link on this site in the article.

[Deleted User]

Vee8 wrote: »

I have heard, on the radio, recently, that it's possible to claim PPI back off loans as old as 25 years.us the loan amount.
How do I go about claiming?

It's certainly possible to complain about old loans whatever their age. The problem is that the older they are the more the complainant is reliant on presenting comprehensive documentary evidence. After 25 years, it's very unlikely the Bank will have kept records of such finance and, if you don't have any either, any complaint will stall on that basis alone.

Vee8 wrote: »

I have the account number and the approximate date plus the loan amount.

That's not going to be enough. You'll need evidence of payment for finance this old. You can send a Subject Access Request (SAR) letter to see exactly what the Bank has kept on file for you. It will cost £10. Mote that the chances are slim that records will have been kept unless you have remained a customer.

Vee8 wrote: »

How do I go about claiming?

You do not "claim". You make a complaint detailing the reasons why you think the PPI was mis-sold to you. The bank have eight weeks to consider any complaint and, if they agree, you receive a refund of PPI paid plus 8% simple interest.