Natiionwide Refused PPI Claim

KEZ

I wonder if anyone can advise, after submitting a few claims to Nationwide for loans and CC, they have returned a verdict - They
Approved Credit Card Claim
Refused Loan claims.


On the refusal claim they stated that even though I would have benefited from 12months sick pay from full time employment as the loan was over 4 years I would have still needed the insurance as my entitlement would have run out before the loan was paid.


They also say that even though I had savings they could have been used to maintain other out goings.


Has anyone else had this - to say Im annouyed is mild ! its the arrogant tone of the letter the loan dates back to 1992 !


Advice on what to write to ombudsman would help


Thanks in advance

dunstonh

They also say that even though I had savings they could have been used to maintain other out goings.

That matches the position the FOS has been taking. The level of savings needs to be greater than a couple of years income for that reason to work nowadays.

On the refusal claim they stated that even though I would have benefited from 12months sick pay from full time employment as the loan was over 4 years I would have still needed the insurance as my entitlement would have run out before the loan was paid.

are they right or wrong?

magpiecottage

KEZ wrote: »

On the refusal claim they stated that even though I would have benefited from 12months sick pay from full time employment as the loan was over 4 years I would have still needed the insurance as my entitlement would have run out before the loan was paid.


They also say that even though I had savings they could have been used to maintain other out goings.

Why did you borrow money when you could have used savings to fund whatever it was you purchased?

You would almost certainly not have earned as much interest as you were charged - so it makes your assertion lack credibility in the absence of a reasonable explanation.