NatWest PPI Claims
Have you taken out finance with NatWest?
Formerly the National Westminster Bank, NatWest has been part of the Royal Bank Of Scotland (RBS) group since 2000 and has been selling payment protection insurance to its clients for years alongside loans, mortgages and credit cards.
Sold properly, the policy ensures that the client will be able to make the monthly payments on their finance if they ever come out of work through accident, sickness or unemployment. But the insurance was often mis-sold to customers who didn’t want it, need it or couldn’t claim on it because of exclusion clauses built into the policy.
The RBS group - which is 82% owned by the British taxpayer - is currently under investigation by the UK’s financial regulator along with all the other top banks after concerns were raised about the number of unfair rejections being received by the Financial Ombudsman Service (FOS) which has been overturning an average 75% of the rejections referred to it.
The scale of rejections being overturned has prompted the UK regulator – the Financial Conduct Authority (FCA) – to investigate the claims handling processes of the whole industry. One investigation into the medium banks has already revealed ‘serious concerns’ about the way in which PPI claims are being investigated. There have also been hints that two of the top banks may be facing fines for their conduct when the second investigation reports later this year.
The state-backed group has set aside £2.6 billion to pay successful PPI claimants – part of the £18 billion+ set aside by the industry to pay back mis-sold PPI premiums. Some industry observers believe the final redress figure could be as high as £25 billion.
Was my NatWest policy mis-sold?
NatWest PPI was mis-sold in a variety of ways:
- Did they make you aware the policy was optional?
- Were you asked about your medical history?
- Was there any discussion on how much sick pay you were entitled to?
- Was the PPI advice given by NatWest accurate?
- Did you feel you were treated fairly?
If the answer to any of these questions is no then you were probably mis-sold your policy and should make a claim to get back the money that’s rightfully yours.
Claiming back PPI
Claiming back your NatWest PPI through Gladstone Brookes couldn’t be simpler. Either complete the PPI claim form on this website or call us on 08000 149 014 and one of our friendly, knowledgeable staff will be happy to discuss the issues with you.
If you make a successful claim then NatWest must pay you back all the premiums you paid, plus interest plus a further 8%.
Gladstone Brookes has an 87%‡ success rate on the claims we make on behalf of our clients and we have already recovered more than £370m from claims against all the major banks.
Making a claim
Once a letter of claim is issued to NatWest, the bank must acknowledge it as soon as possible and then have 8-16 weeks from the date of that acknowledgement in which to give you a final decision.
If your NatWest PPI claim is a success the compensation will be paid direct to you and Gladstone Brookes will then invoice you for our fees which are 25% or any financial benefit received + VAT.
Of course, your claim might also be rejected, but if that happens Gladstone Brookes will assess the terms of the rejection and advise you whether or not an appeal to the Financial Ombudsman Service (FOS) to overturn the decision might succeed.
It’s all part of the same no win no fee† service. Our specialist team will carefully examine the rejection letter and, if they feel there is the chance they can get the decision overturned, they will write a bespoke appeal for submission to FOS. The annual success rate for appeals to FOS, according to the Financial Ombudsman Service website, is currently running at 75%.