Lombard Direct...Where are you now

ashby32

Well good afternoon my dear friends at MSE//// Just a quick update on my Lombard direct loan.
Today i had a letter saying i have been given a sum of money for being miss sold PPI on a loan going back to 2012/2014. The first think is that its been hard work lots of phone calls and emails but the problem doesnt stop there,. I was informed that RBS have no hold over Lombard Loans , here we go again . The second time i explained that if you look up on this web page it states all loans and responsibility are with Natwest/RBS are part of the same group.
To cut a long story short a loverly letter saying you have £182.84 plus 189.92 take away 37.98 income tax the total is £334.78 this is great the next letter says.
we have found a loan you had for £4300.00 and was miss sol;d PPI again and we are giving you.
£347.97 plus 426.60 take away 85.32 and a grant total of.....£689.25.
My question is should i take the first offer or refuse.....i wait for the answers................

-taff

Redress is defined. There is no 'first' offer, it's the only offer.

[Deleted User]

ashby32 wrote: »

Today i had a letter saying i have been given a sum of money for being miss sold PPI on a loan going back to 2012/2014.

PPI for loans had long since ceased being offered by Banks six and four years ago?

ashby32 wrote: »

To cut a long story short a loverly letter saying you have £182.84 plus 189.92 take away 37.98 income tax the total is £334.78 this is great the next letter says.
we have found a loan you had for £4300.00 and was miss sol;d PPI again and we are giving you.
£347.97 plus 426.60 take away 85.32 and a grant total of.....£689.25.
My question is should i take the first offer or refuse

Sounds like a Plevin refund of undisclosed commission rather than a full refund, but again your dates are far too recent.

As above, refunds and redress are not negotiable so this is not a "first" offer.

Nasqueron

Moneyineptitude wrote: »

PPI for loans had long since ceased being offered by Banks six and four years ago?

Sounds like a Plevin refund of undisclosed commission rather than a full refund, but again your dates are far too recent.

As above, refunds and redress are not negotiable so this is not a "first" offer.

I'm guessing the loan was one that started long before the PPI scandal and ended in 2012/14. Lombard Direct weren't above doing long chain/consolidation loans, there's an example on MSE of someone who started in July 1997 with a 4 loan chain ending in Feb 2008! I saw another post from a Lombard loan with PPI taken out in 2004