PPI Natwest

clarerachel01

Hello can anyone please advise, my Husband took out a loan with Natwest in 2000 which had PPI and then another loan with Natwest in 2002 which also had PPI he then took out a consolidation loan again with Natwest to pay both loans off, this loan did not have PPI but the advisor said because it was to pay the other 2 loans off that did have PPI he may also be due some money back off this also has anyone else had this and if so what was the outcome please.

Thank you

Nearlyold

You are not "due money back" as such, if your husband believes the PPI was missold he should put in a complaint to Nat West giving his reasons why he believes the PPI was unsuitable, it sounds as if it might have been single premium which is usually a winning complaint reason.

clarerachel01

He has already put the claim in but we are just slightly confused about what the advisor from Natwest told him that he may be able to put a claim in on the 3rd loan as it was paying the PPI from the 1st 2 loans if that makes sense ?

amersall

You should ask them, if they aren't already, to look at loan 3.

When you repaid the first loan, you would have been given a rebate of the PPI, the remaining PPI would have been paid by you in settlement from the second loan.

In effect, you had a rebate of PPI on the loans but you repaid the remainder that was left on the next loan and so on.
The third loan would have the remaining PPI from the second so they need to calculate that in with the redress if you win.

You will get back all the PPI totals with the interest on that, less the rebates plus the 8% interest that they calculate from the date of each loan to the day they pay out.

[Deleted User]

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