Should I accept first offer 30 March 2020 at 10:55PM in Reclaim PPI & other insurance 3 replies 141 views

AndyA1

I recently received a letter informing me that I had been successful in reclaiming PPI on a NatWest loan. My question is- should one always accept the first offer received?

brettcta

You won’t get another offer, it’s your premiums plus interest. What more do you think you’ll get?

dunstonh

It isnt a haggling competition.  The redress calculation is defined by the regulator. 

[Deleted User]

AndyA1 said: My question is- should one always accept the first offer received?

My answer is  that a full refund is a full refund. 

 So,  while the Bank does indeed make an "offer", it's not an invitation for you to hold out for more.  You'll only ever receive a full refund of all the premiums paid plus 8% simple interest, no more and no less...