Nationwide PPI claims

If you're looking to make a PPI claim against Nationwide the following page tells you all you need to know. Aside from explaining all the info you need in order to pursue your claim, we also explain exactly how to go about making your Nationwide PPI claim. Of course, we'd love you to use us to help you with the process, but unless you have all facts first, how you can you decide the best way to proceed?

A bit of background on Nationwide...

Nationwide is the UK's largest building society. It has increased in size considerably via the acquisitions of other building societies such as Portman, Cheshire, Derbyshire, Staffordshire, Lambeth and Dunfermline.

It sold PPI on mortgages, personal loans and credit cards.

The PPI sold with mortgages and credit cards involved payment of monthly premiums. The PPI on personal loans was a single premium policy, with the premium added to the loan amount.

Nationwide PPI Claims - were you mis-sold?

Was it made clear that your PPI involved payment of a single premium plus interest? And was your PPI written over a different term to that of the loan? Issues such as these have given rise to many successful PPI claims.

Anecdotal evidence suggests that Nationwide has rejected some PPI complaints on the grounds that the customer was 'financially aware'. But even if this applies to you, you should not have been sold PPI without an assessment of its suitability.

Most providers will ask you to complete the PPI complaints questionnaire of the Financial Ombudsman Service (FOS). The Nationwide site asks you to do this at the outset.

Complaints about Nationwide PPI, or that sold by any of the societies it has acquired, can be made:

• by completing the FOS questionnaire online and submitting via the website www.nationwide.co.uk
• by sending a completed questionnaire to: NW199, Nationwide Building Society, Kings Park Road, Moulton Park, Northampton NN3 6NW

If you are unsure whether you have had PPI with the Nationwide, or any of the societies it acquired, the website gives you some suggestions as to where to find this information. However, you can also enquire about this by completing the online Enquiry Form, by writing to the address above or by calling 08457 30 20 10. The Nationwide site also lists the trade names under which PPI may have been sold by it or one of its subsidiaries.

How long will my Nationwide PPI Claim take?

Nationwide's website suggests that it may not be able to complete all of its complaint investigations within eight weeks. However, it also states that it will provide an update to all complainants after four weeks.

If the complaint is rejected, or you are dissatisfied with the amount offered, or Nationwide has not closed your complaint within eight weeks, you can refer the matter to the FOS - www.financial-ombudsman.org.uk. The FOS resolves most complaints within a few months, but in exceptional cases can take over a year.

Any compensation offered should be sufficient to put you back in the position you would have been in had you not purchased PPI. Usual procedure is to offer a refund of the PPI premium plus interest paid on it, with interest calculated at 8%. Credit card PPI claims often involve payment of larger amounts, as your ability to make repayments on the card balance will have been affected by the need to also pay for PPI. An additional amount should be offered to cover the amount the card balance would have reduced by had you not been paying PPI.

Any compensation offered should be sufficient to put you back in the position you would have been in had you not purchased PPI. Usual procedure is to offer a refund of the PPI premium plus interest paid on it, with interest calculated at 8%. Credit card PPI claims often involve payment of larger amounts, as your ability to make repayments on the card balance will have been affected by the need to also pay for PPI. An additional amount should be offered to cover the amount the card balance would have reduced by had you not been paying PPI.

One thing to bear in mind before making your claim either through us or direct with Nationwide is whether you were sold PPI by Nationwide or an intermediary. If it's the latter, then you'll need to make the claim against them, rather than Nationwide.

Next steps to making your Nationwide PPI Claim...

Now you know all about Nationwide PPI claims, let us take all the stress and hassle out of your hands. Simply fill in the form on the right and we'll crack on and get your claim processed straight away.

All information presented in this article is accurate as of December 2012