• Welcome to the LegalBeagles Consumer and Legal Forum.
    Please Register to get the most out of the forum. Registration is free and only needs a username and email address.
    REGISTER
    Please do not post your full name, reference numbers or any identifiable details on the forum.

RBS - Refund of PPI with no liability?

Collapse
Loading...
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • RBS - Refund of PPI with no liability?

    we've got a claim ongoing with RBS for a mis-sold PPI, to cut a long story short, we took out a loan with them, and on the advice of the 'sales person' took out the PPI.

    In December my wife was made redundant, she contacted RBS to claim on the PPI, only to be told that as I was the 1st name on the policy she was not covered

    As a result RBS have agreed to cancel the PPI but claim that we were not mis-sold the policy, but, as a gesture of 'goodwill' are willing to make a payment without accepting any liability...

    We've worked out that we've paid approximately £850 in PPI premiums in the period of the loan. If we were to accept their offer, does anyone have any ideas on how much we would get?

    Surely though, the fact that they have agreed to make a payment is an admission of a fault on their part, even if they claim no liability?

    Any help will be greatly appreciated.

  • #2
    Re: RBS - Refund of PPI with no liability?

    Banks never admit liability but they will payout. I would suggest perhaps that if the loan was taken out with both of you then they need to do an interest adjustment on the loan.

    Comment


    • #3
      Re: RBS - Refund of PPI with no liability?

      I presume this PPI is a SPI and was added to the loan up-front.

      If so, IMO do not accept any offer until you have done a DPA/SAR and have all the details of amounts for loan / PPI.

      SPI is added to the loan at the beginning, accrues the loans interest rate for the loans duration BUT only covers you for a usual period of 5 years.

      And when I say "covers you" I am talking very broadly because it probably doesnt.

      Comment

      View our Terms and Conditions

      LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

      If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


      If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.
      Working...
      X