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mccarthybaby

Me Vs Natwest Figures check pls

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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 :eek:

 

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

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


Hacksaw -v- Allied International Credit/Fairmile Partnership (incorrect Default) **WON** £150 out-of-court settlement

Hacksaw -v- Carphone Warehouse **WON** Default removed after LBA

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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.

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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).


Hacksaw -v- Allied International Credit/Fairmile Partnership (incorrect Default) **WON** £150 out-of-court settlement

Hacksaw -v- Carphone Warehouse **WON** Default removed after LBA

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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

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