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Dee Dee
Dee_Dee_65
Posts: 1 Newbie
Hi, it's my first time on here so forgive me if I make any mistakes!
We have successfully claimed PPI from NatWest over the last couple of years and recently went with Peach ode to see if there was any other PPI anywhere that we didn't know about?
They searched our current mortgage with NatWest and it turns out our Mortgage Repayment Peotection that had been running for donkeys years was misold to the tune of £9,000 and with interest it comes out at £12,500! However they say because we made a claim in 2016 and they paid us a total of £13,000 they are not paying us anything at all?
does this sound right?
We have successfully claimed PPI from NatWest over the last couple of years and recently went with Peach ode to see if there was any other PPI anywhere that we didn't know about?
They searched our current mortgage with NatWest and it turns out our Mortgage Repayment Peotection that had been running for donkeys years was misold to the tune of £9,000 and with interest it comes out at £12,500! However they say because we made a claim in 2016 and they paid us a total of £13,000 they are not paying us anything at all?
does this sound right?
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Comments
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Hi DD. It does seem to me like you have got the refund already. So it does sound right, yes.0
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They searched our current mortgage with NatWest and it turns out our Mortgage Repayment Peotection that had been running for donkeys years was misold to the tune of £9,000 and with interest it comes out at £12,500! However they say because we made a claim in 2016 and they paid us a total of £13,000 they are not paying us anything at all?
does this sound right?
If you make a claim on the policy, then they deduct the value of any claim paid out from the redress. Often these get auto-upheld because its easier to do so knowing they dont have to pay a penny.
It does beg the question as to why you would complain about a policy that paid out so much money to you previously.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Ah, due to the interchangeability of the words "claim" and "complaint" on this forum I may have misunderstood the OPIf you make a claim on the policy, then they deduct the value of any claim paid out from the redress.
To clarify OP, if you made an earlier complaint and were refunded then no more money is due to you.
If you made an actual claim on the insurance and the amount claimed exceeded the redress awarded due to a later complaint then, again, no more money is due to you.
You can't complain that a policy was mis-sold to you and expect both a refund and the proceeds of a Claim. That would be having your cake and eating it!
In fact, the complaint was probably upheld simply to improves stats at the bank.0
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