Yorkshire bank ppi

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Hi all, my Yorkshire bank ppi claim has been upheld from a loan I had with them in April 1993. I didn't even have an account number so am made up with this! One thing thought am a bit gutted at the amount considering its from that long ago. I've been offered the premiums back of £580.52 plus 8% interest less 20% tax so total offer is £1336.21. Can't help feelings it's on the low side I thought it would be £2 to £3 thousand. Anyone experience of Yorkshire? Does this sound about right?

i didn't mention about single premium added on to start of loan, which seems to be what Yorkshire did from Internet research although I can't be sure as have no paperwork. Would this have made the compensation more?

Also they said as part of their enquiries I registered a claim with aviva which didn't proceed beyond initial enquiries stage. They said they will investigate this if I want them to. But I don't know when I claimed or tried to with aviva and they said they didn't have the date when I just phoned. How can I find this out I don't remember that far back it could have been off due to redundancy or possibly an accident where I fractured my back on way to work. But I'd need the date to work it out. Again would this make my claim worth more or less? They said this may affect may redress. I don't want it to be reduced?

Any replies or advice gratefully received thank you
1P Challenge #1 £1.71/£667.95 :o:o
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  • Nearlyold
    Nearlyold Posts: 2,302 Forumite
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    You normally get back the premiums you paid plus interest, however on occasions if it was single premium PPI, comparative redress is used rather than a refund of premiums. This happens when it appears the PPI was okay in terms of eligibility, suitability etc. but regular premium PPI would have been more cost effective, in these cases you get the difference in cost back plus interest.
  • Jules*43
    Jules*43 Posts: 22 Forumite
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    I can't be sure which type of ppi I had I don't know whether to do subject access request or just accept the offer or try and go back to them and ask have they based this on single premium ppi. Any thoughts? Do you think this sounds a good offer?

    Anyone any ideas re the aviva point?
    1P Challenge #1 £1.71/£667.95 :o:o
  • Nearlyold
    Nearlyold Posts: 2,302 Forumite
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    If the premium was only £580.52 then the amount you have been offered seems correct. How much did you borrow, as knowing the amount borrowed would give some perspective on the premium you paid.

    If you had successfully claimed on the policy from Aviva ie been paid money for the time you were off work this would usually be deducted from the redress.
  • Jules*43
    Jules*43 Posts: 22 Forumite
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    I don't know if the premium is correct I have no paperwork. The loan was either £2500 or £3000 it was for a car for my first boyfriend. �� Does that sound about right?

    I didn't claim from aviva Yorkshire bank said from their enquiries it looks like it didn't go past enquiries stage. Yorkshire have said today on phone if aviva should have paid out eg 2 months or however long I was off work then my redress will be altered from say £580 to whatever 2 months salary would have been plus interest. Does that sound right? I don't want to risk the redress being reduced I didn't claim tho they've said that. I don't know the date I enquiries with aviva so I can't work out how long I was off work for and what for were talking 23 years ago here
    1P Challenge #1 £1.71/£667.95 :o:o
  • Jules*43
    Jules*43 Posts: 22 Forumite
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    I'm just thinking if I can find out anything about why I didn't claim off aviva eg they said I couldn't then that might make my redress worth more
    1P Challenge #1 £1.71/£667.95 :o:o
  • PinkPixie
    PinkPixie Posts: 10 Forumite
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    When Yorkshire Bank do "alternative redress" this is different to the "comparative redress" that some banks offer.

    Sometimes when investigating a complaint they decide that your PPI should have paid out to you at some point, if you were eligible to claim. They then calculate how much the insurance payout would have been, calculate the usual redress (which is based on the premiums you paid plus interest) and offer the larger of the two.

    In your case they believe that you inquired about claiming but they don't have sufficient information about what you tried to claim for to determine whether it should have paid out. They are not offering you the opportunity to offer any more information you have about the potential claim, and then if they decide that your claim was valid they will calculate alternative redress.

    Your redress will not go down, because if the potential claim amount is less that the redress you have already been offered (which is based on your premiums paid) then you will get the premium-based redress you've already been offered.
  • Jules*43
    Jules*43 Posts: 22 Forumite
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    Thanks pink pixie. I spoke to Yorkshire bank yesterday about it as they did say in their letter if I had any more information on why I was off work then they would consider this further. Only problem is I can't remember when I was off. I've had 3 times where I was off for a considerable period so I'm contacting both employers around that time to find out the dates as the Yorkshire said they need the exact dates from me and the reasons for absence. I'm hoping my old employers will still have that info I don't know? 20 years ago... If not though I'll have to just accept the offer they've already made won't I. There will be no other way of finding out why or when I was off. Anyway going to try contacting them today and will update when I have a final answer from Yorkshire. Like you say it might mean slightly more or not but I just want to be sure it was fully investigated and I get the right amount of redress due to me.
    1P Challenge #1 £1.71/£667.95 :o:o
  • sun73
    sun73 Posts: 498 Forumite
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    I thought all banks had stopped doing alternative/comparative redress, especially in the case of single, upfront premiums? None of my YB PPI offers were made on this basis.


    If Yorkshire Bank located the loan account number without any prompting from you, then its possible they could trace the statements for it as well.


    You could send a SAR or phone and ask if they would send you whatever details they hold about this loan. It might shed some light on how the redress was calculated.
  • Jules*43
    Jules*43 Posts: 22 Forumite
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    Thanks I've been thinking about a SAR actually. Might do one while I'm trying to find out the dates I was off work and why , so I can get them to investigate that aspect as well.

    Not sure about the comparative/alternative redress point but they've certainly told me they will assess whether aviva should have paid out on the policy as it didn't go past enquiry stage and they said if they should and it works out to be a higher offer I will get the higher offer.
    1P Challenge #1 £1.71/£667.95 :o:o
  • Jules*43
    Jules*43 Posts: 22 Forumite
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    Just an update I managed to find out the date I was off work and why and put in the enquiry to aviva. I have no recollection at all though Why that enquiry didn't proceed. I've told Yorkshire bank this and they said in that case as I or aviva doesn't know they can't do anything about it. They said they have offered me The full amount of ppi back (£580 - the loan was £2500). Plus simple interest. They said I either now accept the offer or Refer to fos. Just wondered if anyone has any thoughts ... My offer is £1500 approx less tax. Does that sound fair? It's from 23 years ago I thought it would be more if I'm honest. But have no paperwork.
    1P Challenge #1 £1.71/£667.95 :o:o
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