First Time Post - Santander Offer

CurlyTopsMum

Hi All

I'm new to posting and am just looking for some help checking if this offer is fair from Santander.

I think this is based on the Plevin aspect as I have a nagging feeling they paid out on the PPI claim I made in 2011 although the letter states my claim was rejected.

Here are the figures they have given in the letter.
A - Refund of excess commission + profit share - £361.51
B - *Simple Interest on A - £246.06
C - Difference between settlement figures - £118.58
D - *Simple Interest on C - £71.63
E - Total gross simple interest (B+D) - £317.69
F - Income Tax deducted @ 20% from interest = 20% of E - £63.54
G - Net Interest - £254.15
H - Net offer to be paid to you = A+C+G - £734.24

I know this is a very nice amount to be receiving but we need to have some building work done and this will go a long way to funding the work.

Thanks in advance for anyones help on this, hope you all have a great day.

brettcta

it's not based on what's fair, it's based on factual information, so if the sums are right, then the offer is right.

amersall

They have given you what they owe you for the commission you paid.

If you think they did pay you the PPI as mis sold, I would hang fire spending this redress as you do not get a plevin claim if you had the PPI back as this covered the commission, you need to find out.

If you are a non taxpayer or you have not used up all of your personal allowance, you can claim the tax back from HMRC.

I would find out if the PPI was actually paid to you first though.

CurlyTopsMum

Thanks for the replies, the hubby thinks the PPI was on a different loan from Abbey/Santander.