Should I accept first offer

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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  • brettctabrettcta 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)
  • dunstonhdunstonh 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.
  • edited 31 March 2020 at 2:31PM
    [Deleted User][Deleted User] Forumite
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    edited 31 March 2020 at 2:31PM
    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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