Royal bank of Stealing! PPI

[Cool-as]

Hi I had Motgage with RBS from 2000 and remortgaged and paid it off in full in 2008. They are saying I fully understood how PPI worked and that I knew it was optional which is rubbish, I paid this mortgage for 8 years with added ppi so I would be due back a pretty penny I think hence the reason they are refusing. I claimed on personal loans and got £6420 back! Why is it harder for them to part with ppi claims on the mortgages????? They also said in their letter that I filled in an application form/mortgage loan guard direct debit mandate but unfortunately they have been unable to locate such form so enclosed a template!! How crazy is that? And they still say they are right not to pay out? They also say that all their staff are trained to ensure that all customers understand that the policy is optional, that declining cover will not affect their application for credit, furthermore you had a further 30 days cooling off period and then a further 30 days to cancel if I thought I was pressured into buying ppi which is all rubbish! Can anyone tell me what I can do before I have to go to the FOS? It can take a year !! Thanks in advance.

[teaboy2]

Re: Royal bank of Stealing! PPI

lol if all their staff were fully trained to ensure that all customers understand that the policy is optional. Then there would never have been any misselling of PPI that they themselves admitted to and put billions aside to cover the cost of compensation payouts.

Report them the ombudsman!

[Bill-K]

Re: Royal bank of Stealing! PPI

Sure, as Teaboy says - they churn out that old chestnut time and time again - with a completely straight face !!! The FSA said otherwise, but the lenders still protest their innocence. The problem we seem to now have is that it takes so damned long to get a result from the FOS that we may be dead before we get it - and the lenders know this, of course. They are fobbing claimants off with the same old templated drivel, knowing that by the time these claims get settled, the current CEO will have taken his/her bonus and fled - leaving yet another bankrupt bank to be subsidised by the taxpayer.

Personally - I prefer to leave referral to the FOS as a last resort, and keep banging away at the lender in a 'war of attrition.' If you get a 'Final Response,' and they ignore you after that - then take Di30's stance and write to the CEO. I did this myself with LTSB recently, and got them to re-open the file. We're still battling - but I forced them to engage in more dialogue. Even if this still doesn't get a settlement offer, it adds to the evidence for a FOS claim, and a further claim for compensation for distress. I'm all in favour of seeking resolution by negotiation - and getting that all down on record - before 'going for broke' with the FOS or the courts. You collect Brownie points along the way, too.