PPI Offer from NatWest

mamaswoop

Hi,
I'm making several PPI claims for me and my partner, one of which is for a joint loan he took out with his ex wife in 2002.
They've each received a 50% offer of approx £580.00 each, which is for a £15,129.00 loan with a PLP Premium of £2829.00, we have the actual statement with these figures being deposited/withdrawn from the account, as well as the Personal Loan Agreement with PLP.
As the premium paid was almost £3K, they seem to think it should be more, does it have to be accepted or can it be appealed/queried ?
Any advice would be helpful either way.

dunstonh

Did they repay the loan early? If they did, then they would not have paid the fully amount of the PPI as the settlement would have included a rebate.

Bermonia

The cost on the agreement is the total cost on the assumption that the loan will run to term... any early settlement of this loan would’ve led to a greatly reduce amount paid for the policy, as such more than likely correct.

mamaswoop

Hi Dunstonh & Bermonia,
Thanks for your replies, it would appear the loan was not settled early, and as of this morning we checked our mail box and both my partner and his ex wife have now received in total £6296.00 each..... Right result.... Just hope my claims are as good... Think I'm owed a pints for that little lot :beer: thanks again.

Mamaswoop:rotfl: