NatWest Lost my Loan Agreement?

nellietjie · 17th July 2008, 19:17

I served NatWest with a Subject Access Request about 6 weeks ago and this week I received all the documents except the one I'm after. I.e. the 2003 Loan Agreement for which I was bullied into taking out PPI.

When I called NatWest up about my loan in February, they were very evasive and said that my 2003 loan was no longer in existence as the subsequent 2005 loan I took out, paid it off. They said they had no records of it as it was replaced by a new loan now. (took out in 2005 to pay off the 2003 one and some extra - didn't take out PPI on the new one)

So what am I to do if they really don't have it? Or lost it?

I can't remember how much of the loan was PPI. I just know I took it out and I know I was told that I wont get the loan if I dont take out PPI.

Any advice?? Pretty please.

alanalana · 17th July 2008, 23:14

hello nellietjie,

welcome to the ppi forum.

This link was given to me by rory who is part of the site team formerly a moderator on retention of records.

http://www.hm-treasury.gov.uk/media/...ations2007.pdf Part 3 19. Record Keeping.

You may be able to use this to press NatWest to explain why they are not retaining financial records in line with legal statutes ie the law of the land.

My guess is they will have the records but will refuse to release as they know the massive onslaught of ppi reclaiming is about to commence and they are up to lose loads of money for allegedly mis-selling.

You may want to contact a site helper on this issue before making a final committment but if you check out the stickies at the top of the forum you will see loads of information and if you check out the links sticky from me you will be able to spend time (LOTS OF TIME) reading and getting information. I would also suggest following a few different threads on people who are also chasing NatWest.

Good luck anyway you can always post and some kind person will pick up an try to help. PPI new issue and a learning curve but we will succeed.

aa

hellhasnofury · 18th July 2008, 08:02

Hello,

It does appear that the Nastywest and the RBS never retain any agreements, or as AA states choose not to give you them, because it will open up a bigger can of worms:o

Hey AA where's the link please

yourbank · 18th July 2008, 08:06

.........even though their process manuals state 6 years after the loan has ended

alanalana · 18th July 2008, 08:39

hello hhnf and all,
link is now in post 2 and again here..

http://www.hm-treasury.gov.uk/media/...ations2007.pdf Part 3 19. Record Keeping.

aa

nellietjie · 19th July 2008, 21:35

Just to confirm my understanding of the advice :

Follow the link to enable me to quote the legislation to NatWest asking them why they are not adhering.

Then follow the link of people with the same struggles?

Did I get this right?

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