We have finished investigating your complaint about your Payment Protection Insurance (PPI) on your mortgages account.
We are sorry the policy you were sold was not suitable for you, and as a result, we are upholding your complaint.
We will refund you a total amount of £****.** in cash. You can see how we worked it out in the tables enclosed with this letter.
The refund includes an extra amount of £****.** which is the 8% gross interest per year as compensation.
How the 8% interest may affect your tax position
We will not deduct income tax from the 8% interest per year payment, but it is taxable. In line with UK tax legislation, you will
need to include this amount on your tax return, if you complete one. If you do not complete a tax return and you are liable to tax,
you will need to tell HM Revenue & Customs that you have received this payment. Any tax liability will be your responsibility.
If you are not satisfied with our response
This letter is our final response to your complaint and we hope you are satisfied with the outcome. However, if you are not satisfied
you have the right to refer your complaint to the Financial Ombudsman Service. If so, please refer your complaint to them within
six months from the date of this letter. More information and their contact details can be found in the enclosed leaflet.