Low PPI offer?

speccybob

Hi all, just signed up to ask for some help. My father passed away in mid August 2019 and I had to arrange his estate. I noticed that he had ppi on a £40k mortgage, from 1997 with Cheshire building society. This was remortgaged a few years later. This has been ongoing due to the pandemic but I finally have a decision. They have given me a breakdown and said they have awarded 'the amount my father would have paid to put them back in the position if they hadn't been taken out ppi in the first place'. I received a final offer of £732. Does that sound right? I had a £10k loan in 2006 and received a £5k payout around 2013 so this seems very low to me. Thanks in advance for your help  

[Deleted User]

The redress is based on a defined formula.

If they haven't provided a breakdown of the figure, just ask them.

Without knowing what he paid, the mortgage APR and the time period, it's impossible to say if it's wrong.