I did settle the loan early, but my understanding of the reduced amount being payable at that time was to take account of the interest which had been added at the start of the loan and that this interest obviously ceases to be payable on early settlement of the loan. Lenders initially calculate your loan repayments on the assumption that you pay the interest right to the end of the loan so this reduces the settlement figure once the interest is recalculated. Does anyone else agree with this? I may send a SAR today anyway to hurry things along a bit.

I originally claimed (myself) in June 2012 and received an acknowledgement from Egg at that time. I sent a reminder in August, then another in November and in the November letter I indicated that I would submit a SAR request if need be. I then got a letter dated 15 January 2013 (received by me on 26 January) which they claim to have already sent to me in July last year and I never received, which is my offer letter with acceptance form attached. I just feel that since I physically paid the sum of £4.1k plus interest of around £350, I should at least receive that full amount back together with the 8% compensatory interest they offer.

I have just had a very similar offer from Canada Square Operations who I believe have taken over from Egg Banking. My offer also deducted an amount of around £2,600 for a "rebate previously paid or applied to my account", of which I have no knowledge. Is it worth challenging this amount, surely if I have made payment of around £4,100 on premiums I am entitled to receive that full amount back with the interest payable? Any thoughts appreciated.