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natwest says my 2nd loan made my first (PPI) loan null and void?

Jane 6498

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I took out a Natwest loan in 2003. I was financially desperate, to say the least. I was told that unless I take out PPI it is unlikely my loan will be approved and I agreed. The PPI lumpsum was added to my loan.


In 2005, I got nagged by Natwest telephonically almost on a daily basis to pay off my overdraft by taking out a new loan. I had a 2k overdraft which I almost maxed out monthly.


So in 2005, they gave me a consolidation loan. They asked me if I wanted PPI insurance and I said do I have to? And she said, no. So I opted out of PPI on the second loan.


The two loans were merged and I now pay a single monthly instalment to Natwest.


The first loan had PPI of about 1500k.


I called Natwest last week to ask them for the details of my first loan.


They refused to give me any information saying the first loan is now null and void as it was paid off by the 2nd loan. I asked for a copy of the loan agreement and they said they dont' have it and that it is my own responsibility to keep it.


What am I do do next?


please help.

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Hi Jane,


You need to hit them with a SARN request which will give both the initial details of the loan as well as a full statements of accounts.


If they do not return your details within a certain time frame it is then considered a criminal offence and you can pursue them thru the FOS and the courts if necessary.


It is fully their responsibility to retain your records especially as they would have been instrumental in setting up the 'new' loan.


Dont be fobbed off, request a full SARN and make it clear you will pursue them for the repayment of any monies wrongfully charged.


There are hundreds on here like you who have fought and won.

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Wow, great.


I will send that off imminently. They almost had me believe that there's nothing I can do. Which is, I guess, why they do it.


Thanks for CAG !!!


Hello Jane,


See your up against the Nastywest,:D


I have been having a bit of a ding, dong with them for a while now and yes they are not very good at supplying information, because they are aware what you are going to do with it:p


Get your Full SAR sent off, you will find it in the ppi stickies, send you £10 fee and start counting the days,


Come back when you have the information.


This is a great site for help and advice:grin:

If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW

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