Nationwide loan - PPI help please

terryphil

Hi guys, sorry I'm being a bit lazy by not searching through the forum, but I was wondering if someone could help. I contacted Nationwide to see if I had any PPI on a couple of loans I had (2003-2004 £6000 paid back after 12 months) - Offered £460 compensation. Does this sound about right? They say the offer does not include interest? Should it?
Second loan, £7000 between 2004-2008 (49 months), paid back early. How much should I expect for this? is it just £460 x 4?

Thanks in advance

Nasqueron

If it's a goodwill gesture (as opposed to miss-sold) then no, they would not offer you interest - it sounds like they are guessing and auto-paying (low sum) - if you don't have any documentary proof then accept it and move on as they have probably deleted the records given how long ago it was - paying off the loan early would have meant you paid less PPI too.

Second loan could be a guess as well as it again depends if they know what you paid or are guessing - again if a goodwill gesture you won't get the interest

terryphil

Thanks for the response! So there is no point in fighting it? They have information on the loans, they told me so

terryphil

Hi guys, I've received an official response from nationwide now. They've offered me 650 for the period between 2006-2008 as I contacted them and asked for the ppi to stop which they admitted didn't happen. However, they're saying that I wasn't miss sold the ppi. Now during the time I took out the loan, I was in full time employment on a permanent contract with excellent sickness benefits etc. Would I have a case to fight this?

Nasqueron

terryphil wrote: »

Hi guys, I've received an official response from nationwide now. They've offered me 650 for the period between 2006-2008 as I contacted them and asked for the ppi to stop which they admitted didn't happen. However, they're saying that I wasn't miss sold the ppi. Now during the time I took out the loan, I was in full time employment on a permanent contract with excellent sickness benefits etc. Would I have a case to fight this?

I don't know how complaints like this would work - I don't think you can complain twice but you may be able to ask them to look again at the complaint if you have this evidence (did you not include the above in your complaint initially?)

What did you originally complain about?

No-one (apart from the police) has a permanent contract, any business can fail, even the public sector can lose their jobs.

Sick pay is a better reason though how long would it pay out for at full pay (and can you prove it)?

Insider101

terryphil wrote: »

Hi guys, I've received an official response from nationwide now. They've offered me 650 for the period between 2006-2008 as I contacted them and asked for the ppi to stop which they admitted didn't happen. However, they're saying that I wasn't miss sold the ppi. Now during the time I took out the loan, I was in full time employment on a permanent contract[/quote

This is not reason for complaint. In fact quite the opposite, it confirms you were eligible for cover. The purpose of the insurance is to cover you in case you are unable to carry out your work long-term through sickness or made redundant.

with excellent sickness benefits etc. Would I have a case to fight this?

Maybe. How long were the sickness benefits? Can you prove them? Why did you take the cover if your work sickness benefits were sufficient? Was the sale advised or non-advised?