Thread: 'thegfb vs NatWest - PPI' ***Refunded ***

Hi, bit of a long story but here goes:

I have a couple of current accounts and a credit card with Natwest.

I have a personal loan with NatWest too, and when I took it out the PPI was not explained to me at all, the amount I needed was discussed then the adviser just tapped it in and out came a bit of paper with a sum total which I was told included the loan insurance. I was not told that it was not necessary or that I was not obliged to accept it.

The complication is that this current loan (which I got in Jan 2008) is the third from NatWest; the two previous ones (Oct 2003 and Sept 2004) used to pay each other off for increasing amounts of money. On both of these previous occasions, it was not explained to me that I did not have to accept the PPI and I just assumed there and then that it was necessary. I was in a bad way after finishing Uni with credit cards etc and I know I should have been more responsible, but I don't think my previous bad management of finances should count against me when I feel have been conned.

If I am to proceed with a misselling case, do I need to start three separate requests, or would it be effectively one?

Thanks for any help

if the a/c' no.s are diff then yes

dx

Hello the gfb,

Ok thanks dx, to be honest I don't know the previous account numbers (if they are different), I might have the paperwork somewhere. I do have the agreement for the current loan still I will check when I get home from work.

If you do not have the previous loan credit agreements you can start by submitting a Subject access request with the statutory fee of £10.00 and request all the data applicable to you as a subject including full details on loans, credit agreements, terms and conditions and anything else you consider relevant. The SAR is a good way to get the information together before you claim mis-sold PPI. The multiple roll over loans with PPI added was also applicable for me and I actually got money back off seven loans back to 1997.

Have a look through this and you will pick up more information on the way forward......links

This is a template for the SAR just edit to suit your own needs

http://www.consumerforums.com/resour...ebt-a-dca.html

Good luck

Thank you loads alanalana, there is so much info here I almost don't know where to begin looking!

Do you have a link to the SAR template that works? It seems the parsed URL is giving a 404 error. Thanks again.

Thank you loads alanalana, there is so much info here I almost don't know where to begin looking!

Take your time, it's best to get things right. It takes a while but if you have a good case for mis-selling (Most folks do) then you can be looking at claiming back your PPI on all of your accounts.

Thanks. Basically, the long and short is that when I took out the first loan in 2003 I was told verbally (I guess they have no information on this or did they record this conversation? doubtful, but if they did, do they still have the recordings and if they do they should release them to you or at least transcripts of the recordings under your SAR if you have the dates times of the meetings it would help), that I had to accept the PPI otherwise the loan would not be given. Mis-selling At my two subsequent visits to the bank, I assumed it was mandatory and did not query it. The two subsequent advisers did not say that it was not mandatory either.

Maybe jumping ahead a bit here, but what really concerns me is that unless I had tape recorded my conversations with the sales people at each meeting, it basically boils down to my word against that of the bank :cry:

The onus is on the bank to prove the sale of the PPI met your needs so they should have completed a customer duty of care questionnaire or a customer needs and wants questionnaire and this should be retained with all the other information on the loan.

Hence the need for the SAR so you can request this questionnaire to see if they have fully complied with the requirements at the point of sale. It is for you to claim mis-selling and them to prove it was not. If the questionnaire is missing or any other data such as the CCA, terms and conditions etc then they have the problem, Not you

Ok, in the mean time I have decided to cancel the PPI on my Natwest loan. I worked out that is nearly £50 per month!!

If I write to them and request this, could anything I say jeopardise any future reclaims for previous PPI payments on this loan and its predecessors that were the initial loan and an intermediate top up?

Considering they only received my SAR today, I feel it might be a long time before I actually make my initial written reclaim request to them and want to keep my cards close to my chest right now

Bump... anyone? ???

I could start saving some money soon if I cancel, but don't want to anything to go against me at a later date if the fos or courts become involved.

Ok, in the mean time I have decided to cancel the PPI on my Natwest loan. I worked out that is nearly £50 per month!! :cry:

If I write to them and request this, could anything I say jeopardise any future reclaims for previous PPI payments on this loan and its predecessors that were the initial loan and an intermediate top up?

Considering they only received my Subject access request today, I feel it might be a long time before I actually make my initial written reclaim request to them and want to keep my cards close to my chest right now

I started a claim for my PPI after I had cancelled but having gone through the fos route to claim mis-selling the FOS actually wrote to me saying that as I had claimed mis-selling I should cancel any remaining ppi on current policies. having cancelled already it was not a problem. I would advise you though depending on your employer and income to make sure you have cover there a lot of cheaper options out there other than through the lender and this has now been ruled upon by the Competition Commission. Do not just cancel and leave yourself open to having to repay a loan without the means to do it

aa

Originally Posted by alanalana

I started a claim for my PPI after I had cancelled but having gone through the fos route to claim mis-selling the FOS actually wrote to me saying that as I had claimed mis-selling I should cancel any remaining ppi on current policies. having cancelled already it was not a problem. I would advise you though depending on your employer and income to make sure you have cover there a lot of cheaper options out there other than through the lender and this has now been ruled upon by the Competition Commission. Do not just cancel and leave yourself open to having to repay a loan without the means to do it

aa

This is what I'm going to do then, though it looks like they make it difficult (I'm not bothered about the replacement PPI yet because I have enough savings to cover payments for a long time should I be made redundant etc, and the money I save from not paying the PPI will just inflate that pot)

I'm a bit weary of them trying to say I need to initiate a new credit agreement etc in order to take the PPI off and being obstructive. Especially since I've just been offered a job that is still subject to a credit check, and don't want unnecessary searches on my file

Thanks for your advice alanalana

I'm going to write today, giving the 30 days notice that policy booklet says.

A couple more questions if I might ask:

1) When asking for a cancellation, do I ask for any refund as well as a reduction in premiums? (I have made 14 monthly payments of a 48 month term loan so far)
2) Should I demand that the monthly premiums be reduced to the amount shown on the agreement document, as paid without the PPI?
3) One last thing - I looked through the paperwork today (that was given to me after the point of sale) and it says in a pro forma letter that my loan insurance certificate is enclosed, but there's not one. Just a policy booklet with a load of rules (again I emphasise, I was only given this booklet and the chance to read it after the point of sale). Is this sneaky tactics on Natwest's part?

Thanks again

Here is my cancellation letter I have drafted, pretty basic. If you would change anything, or if you think it is good please say

My address

2nd April 2009

Local bank branch address


Dear Sir or Madam,

Agreement number: xxxxxxxxxxxxxx

I am writing to give you the 30 days written notice required to cancel the Personal Loan Protector Insurance which applies to the personal loan referred to under the above agreement number.

I request a fair proportion refund of premiums already paid, and a reduction of my monthly premium direct debit repayment to £2xx.xx. This is equal to my current monthly total repayment of £3xx.xx minus the monthly repayment of £5x.xx which is for the insurance loan.
I await your response in writing to confirm that my lawful request has been carried out.
Yours faithfully,


Mr thegfb

They may kick off and say you cannot cancel but if that happens just say you have sent off a SAR with a view to claiming mis-sold PPI and you will eventually be submitting a claim to the fos or reclaiming through the courts. If that happens the FOS would advise you to cancel any existing PPI agreement before settlement.

Ok thanks will send the letter and see what happens

Natwest have responded to my SAR request, but not everything is there.

They have provided me with the CCA and Needs/wants questionnaire for my latest loan (which I have incidentally just settled). I was surprised to see the needs/wants questionnaire, as I had no memory of completing it with them, but it was my signature and a date on it. It does state the PPI was optional, but I was still under the impression that the insurance was required to get the credit and also was not told I could get it from elsewhere.

They have not provided me with the CCA or any other paperwork for the two previous loans which were part of the whole 'top up', depsite me making it clear in my SAR letter that I wanted details of ALL loans with them.

Should I write back ask for the relevant paperwork for the two previous credit agreements to be sent, and remind them that they have not fully complied with my SAR request so far?

Advice is very appreciated

Natwest have responded to my Subject access request request, but not everything is there.

They have provided me with the CCA and Needs/wants questionnaire for my latest loan (which I have incidentally just settled). I was surprised to see the needs/wants questionnaire, as I had no memory of completing it with them, but it was my signature and a date on it. It does state the PPI was optional, but I was still under the impression that the insurance was required to get the credit and also was not told I could get it from elsewhere.

They have not provided me with the CCA or any other paperwork for the two previous loans which were part of the whole 'top up', depsite me making it clear in my Subject access request letter that I wanted details of ALL loans with them.

Should I write back ask for the relevant paperwork for the two previous credit agreements to be sent, and remind them that they have not fully complied with my Subject Access Request request so far? Yes absolutely and I would point out that a SAR requires them to supply all data they hold and not just the information on the most recent loan.You can put your own timescale on this 14 days I would suggest and inform them failure to comply will result in a formal complaint to the Information Commissioners Office who can insist they provide everything.

Advice is very appreciated

I had very much the same trouble with RBS I got the ICO involved and was still receiving new paperwork after they had settled through the fos.

There is a link to my nightmare at the bottom of my signature information.

aa

Hi aa, thanks for your advice.

I have the agreement number still for the loan before this one, but neither the agreement nor account number for the first. If I can't supply them with these, do they still have the right to refuse to send me any data?

Also, is it still reasonable to hit them with a non-compliance letter and stipulate a deadline even if they are still within the 40 days allowance?