Natwest halved the original offer - can this be right?

Tonkenna

Through GB, I made a PPI claim against Natwest. Recently they found in my favour, made an offer (approx £17k!), which I obviously accepted. After 28 days, during which I was expecting the payment, I've just received another letter from them, saying that the first offer was in error, and making me a new offer, less than 50% of the original, £8k.
How can this be? Surely once they make an offer and I accept it formally, that's a done deal? How can they change it so drastically? Why could they have made such a significant error in the first offer? Should I accept the new offer? (GB are appealing for a Plevin ruling, not sure what that means, but a bit of googling seemed to imply that Plevin payouts are typically much lower than the difference between my offers, so I might get a little more than the £8k,but not much...)

Thanks in advance for any help, 
Phil. 

brettcta

They’ve obviously checked their figures at Quality Assurance and have found an error and adjusted accordingly. Perfectly normal. If they’d have found that their offer was £8k short and they were offering you more, would that be right?

RE Plevin, if you’ve been fully upheld in whatever complaint you’ve made then Plevin won’t apply and they’re wasting their and your time, though I suppose for the 2 grand you’ll be handing over to them to put your complaint in an envelope and the cost of a stamp I guess they need to look like they’re doing something.

-taff

Plevin only pays out when there is an unsuccessful complaint and the debt conditions meet the criteria.

GB can't have both a successful complaint and a PLevin ruling, it's not possible. Ask them what they think they're playing at.

And yes, even if you accept an offer, if the maths doesn't stack up on their end, they can change it to the right payout.

And you pay GB out of your gross redress, so don't forget that bit too.

[Deleted User]

Tonkenna said:

 (GB are appealing for a Plevin ruling, not sure what that means, but a bit of googling seemed to imply that Plevin payouts are typically much lower than the difference between my offers, so I might get a little more than the £8k,but not much...)

Since you either get full redress OR a Plevin payout, it looks like GB are planning on rejecting the full amount and trying to get you the lower amount.

They're so good at their job.  Definitely money well spent.

dunstonh

Natwest halved the original offer - can this be right?
<snip>
How can this be?

what do Natwest say?  They have all the information.  We have none.

 Surely once they make an offer and I accept it formally, that's a done deal?

Surely it isn't.  If they found an error that you should have had more, would you expect them to keep it or pay it to you?   Mistakes do not give you legal entitlement to money.

How can they change it so drastically?

Plenty of ways.  We could speculate many reasons.

Why could they have made such a significant error in the first offer?

Humans make mistakes.

Should I accept the new offer? (GB are appealing for a Plevin ruling, not sure what that means, but a bit of googling seemed to imply that Plevin payouts are typically much lower than the difference between my offers, so I might get a little more than the £8k,but not much...)

No logic in that as Plevin only applies to rejected complaints. Not upheld complaints.    If your complaint is upheld you get a 100% refund.  There is nothing else to refund.

Perhaps your complaint wasnt upheld after all and what you have got is a plevin refund already?    Even then there is no logic in GB going for a plevin refund as you have had it.