Thread: Me Vs Natwest Figures check pls

Hi,

Well i had all my info back from Natwest, well say all - Just statements.But from that i got my loan info and emailed Natwest asking for details about this loan.

Recieved a replay saying that they could not locate any agreement, which is no real use to me as i have paif this up. But they inclosed a printed out statement.

I have found a APR calculator thing and if its correct then my APR from my repayments was %32.2

Just wondered if someone could check my figures as i am useless at numbers and its over my head.

ok so loan was for £3000, PPI was for £408 monthly repayments were £164.99. I made 1 repayment of loan £122.83 and also loan interest £42.16 then monthly from then at £164.99. I made 10 payments then paid a lump sum of £2139.49 to clear the loan.

i have used the simple calculation spreadsheet and enters all the figures as i see them. It is saying that i should be asking for £2770.92???

Can someone please check and let me know if i am doing things right?

thanks

mcc

When you say you paid a lump sum to clear the loan, was this one month after the 10th repayment?

yep, so the 11 month was actually the lump sum to clear it off, was never late with any payments on this.

Should say that i took loan aug 02 and final lump sum payment was july 03.

anyone????????

You read my mind - I just logged in.

I worked out that the Effective APR (taking into account that you settled the loan early) is 39.35%, which works out at 2.8037% per month.

The PPI amount plus 11 months interest is:

408 x (1 + 0.028037)^11 = 568.55

So your total claim would be:

PPI 408.00
Interest 160.55
Total 568.55

This does not include statutory interest of 8%, because this can only be claimed once you submit a county court claim against Natwest, if they refuse to pay after your LBA (letter before action).

Hi all, Got my decision letter back from Natwest today.

they have said that they are satisfied that i would have been provided relevant information and any exclusions etc with this policy, so will not uphold my complaint.

However as a gesture of goodwill they have offered me £328.15, which they say is the insurance premiums and interest that i have paid. excluding the amount of £146.09 which is what was credited back to the account when it was paid off.

Must say im a little dissapointed. i tried to call them to ask them to explain their figures and they baffled me with numbers!

they said that my APR rate was actually 15.9 % loan was over 24 months.
they say that they work their figures out on the base rate which he gave me of %8.096. Still i dont know what to make of it.

Any suggestions? Does this seem right?

i feel that i may have to accept as i could really do with the money i have things to pay lol.

Thanks

McC

anyone?????