Should I accept first offer

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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?

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  • brettcta
    brettcta Posts: 4,693 Forumite
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    You won’t get another offer, it’s your premiums plus interest. What more do you think you’ll get?
    helpful tips
    it's spelt d-e-f-i-n-i-t-e-l-y
    there - 'in or at that place'
    their - 'owned by them'
    they're - 'they are'
    it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)
  • dunstonh
    dunstonh Posts: 116,655 Forumite
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    It isnt a haggling competition.  The redress calculation is defined by the regulator. 
    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.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    edited 31 March 2020 at 2:31PM
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    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... 
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