NATWEST/RBS and PLEVIN

scarleyfarley
scarleyfarley Posts: 7 Forumite
in Reclaim PPI & other insurance
Hi, I am a little confused. I have had an offer on my PPI claim from RBS for an old 2003 NATWEST Loan but it doesnt include anything for PLEVIN. In my original claim I stated I was also claiming under the PLEVIN Rule. My offer doesnt mention PLEVIN at all. I called NATWEST and gave my number ref etc. She told me that all new claims are check for PLEVIN and as I havent been offered anything under the PLEVIN rule then it couldnt have applied, I said doesnt it apply to all PPI claim and she said no. I find this odd, why not state that the PLEVIN didnt apply and the reason why? To accept the offer, I have to complete a form stating full and final settlement of all or any claims against RBS/NATWEST PPI on that account number, so I am reluctant to sign as it seems to cut off any chance of claiming PLEVIN. Am I being fobbed off?

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Plevin will only apply if commission was over 50%, and not at all if you have received (or been offered) redress for mis selling.

    There doesn't seem to be any fobbage taking place.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    scarleyfarley wrote: »
    Hi, I am a little confused. I have had an offer on my PPI claim from RBS for an old 2003 NATWEST Loan but it doesnt include anything for PLEVIN.
    Sounds as if they've ignored your Plevin concerns and decided that your PPI policy was completely mis-sold.

    Since a Plevin refund would only apply to a complaint otherwise rejected, you haven't lost out.

    Instead (I assume) you've been refunded the whole PPI plus interest, which will be a considerably larger amount.

    Why did you "complain" solely about Plevin if you haven't already been rejected in the past for a full refund?
    Deleted_User wrote: »
    Plevin will only apply if commission was over 50%, and not at all if you have received (or been offered) redress for mis selling.
    Actually, a full refund and redress will include any commission paid.
  • sun73
    sun73 Posts: 498 Forumite
    First Anniversary First Post
    Just out of interest, what if you've only received a partial refund because PPI records were missing.

    Could you still submit a claim under Plevin as this might not have been taken into account when the lender made their original offer?

    I'm thinking of PPI sold with store cards, did they involve high commission? Thanks
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    sun73 wrote: »
    what if you've only received a partial refund because PPI records were missing.
    Plevin only applies to rejected complaints, a partial refund is not a rejection.
  • dunstonh
    dunstonh Posts: 116,346 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Just out of interest, what if you've only received a partial refund because PPI records were missing.

    Plevin would not apply as the complaint was successful and a refund of evidenced or calculated premiums was made in full.
    Could you still submit a claim under Plevin as this might not have been taken into account when the lender made their original offer?

    No. As you would have received a refund of the evidenced/calculated premiums in full, there is nothing else to receive a refund on.
    I'm thinking of PPI sold with store cards, did they involve high commission?

    Don't know. Credit card PPI was borderline on the tipping point. However, in the majority of cases, it is profitshare that is taking it over the tipping point. I don't know if store cards did profit share or not. We will have to wait until we see some store card posts on plevin to see what happens.
    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.
  • ~Brock~
    ~Brock~ Posts: 1,710 Forumite
    First Anniversary First Post Combo Breaker
    If the loan was taken out in 2003, Plevin will only apply if there was still a balance outstanding after April 2008.
  • BM1
    BM1 Posts: 1 Newbie
    Hi, I have also recently had an offer from RBS with regard to PPI on a chain of three consolidatory loans from 1997. The first loan was for £1000. The second and third loans were slightly more than that. I am wondering what sort of figure I should receive or whether I am being fobbed off with my offer. It was only the first loan which had the ppi on.
    Can anyone help? Thanks
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    There will be no fobbage. It's calculated based on defined criteria.
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