Frequently Asked Questions

PPI: What does the recent Judicial Review mean to me?

In a nutshell, it should mean that it is easier for you to obtain compensation if you have been mis-sold payment protection insurance. It should also mean that you can claim for past mis-selling of PPI that may have occurred years ago. The Judicial Review made it very clear that the lenders were at fault for the way they sold this product to you.

PPI: What are the issues with Payment Protection Insurance?

Due to the competitiveness of the financial industry, lenders are having to reduce their lending rates to attract new and retain existing customers. This is causing a drop in revenue due to lenders having smaller margins on loans, credit cards and mortgages. PPI, although sold as a safeguard for borrowers, may just be seen as a way for lenders to increase their income from selling loans, credit cards and mortgages.

Some PPI policies offered by lenders may be unsuitable to borrowers in certain circumstances. Policies may not be suitable for the self-employed if they only cover redundancy. Some are so full of exceptions and exclusions that borrowers are often unable to make a claim if the worst does happen.

PPI policies sold by credit card companies, banks and lenders can be overly expensive and are sometimes forced upon the borrower as part of the approval process or hidden within the debt repayment schedule. Debts may be increased by up to a third when factoring in PPI payments.

PPI: What is Payment Protection Insurance mis-selling ? How do I know if I have been mis-sold Payment Protection Insurance?

The plain fact is that a number of PPI policies sold to protect borrowers from their debt in reality offer no protection at all and are simply a revenue stream for the lender. Borrowers may be unaware they are even taking out PPI as they go through the application process.

Lenders may offer low rates that are only commercially viable to them with the addition of a PPI policy and the may also mis-sell PPI policies with sweeping statements such as 'Will pay off your debt' or 'Will safeguard your family' when in fact the product they are selling may be completely inappropriate to the borrower and offer no such security.

PPI: What is Payment Protection Insurance mis-selling ? How do I know if I have been mis-sold Payment Protection Insurance?

The plain fact is that a number of PPI policies sold to protect borrowers from their debt in reality offer no protection at all and are simply a revenue stream for the lender. Borrowers may be unaware they are even taking out PPI as they go through the application process.

Lenders may offer low rates that are only commercially viable to them with the addition of a PPI policy and the may also mis-sell PPI policies with sweeping statements such as 'Will pay off your debt' or 'Will safeguard your family' when in fact the product they are selling may be completely inappropriate to the borrower and offer no such security.

PPI: Can I claim compensation for Payment Protection Insurance mis-selling

If you feel that, when you were sold your PPI policy, the salesperson failed to explain exactly what you were purchasing, or you were forced to take out the PPI policy by your lender, you may be able to claim compensation. Also, if you were sold an unsuitable policy while self-employed, unemployed or retired, you may have a case for mis-selling as your circumstances at the time of sale may mean that you cannot claim on the PPI policy in certain circumstances.

Mortgage mis-selling: Who can claim compensation?

If you currently have, or have previously had a mortgage you feel may have been mis-sold to you, then you can apply for compensation. See the guidelines on our mortgage mis-selling page.

Mortgage mis-selling: How do I know if I have a claim?

The Financial Services Authority (FSA) has reported that thousands of mortgages were potentially mis-sold because of the lack of suitable advice given at the time. If you feel that you were not properly advised about your options or the risks involved in taking out your mortgage, then you probably have a valid claim.

Mortgage mis-selling: Why can't I claim compensation myself?

The short answer is that you can. However, claiming can be time consuming and you will need the knowledge to tackle the provider yourself; to know what to do if your claim is refused; to know whether an offer of compensation is fair; to go through the appeals process if necessary or to know if your claim could be time barred.

Mortgage mis-selling: How much do you charge for these claims?

Once we have satisfied ourselves that you have a potential claim, our audit & verification fee is £249 + vat. This includes a free document pick up service, obtaining all your files from your lender and broker, completing an in depth audit of your claim and obtaining expert legal advice to verify you have a genuine claim. This is also fully refundable once your claim is successful.

Mortgage mis-selling: What if my claim is not successful would you refund the money

We will refund 50% of the upfront fees paid. The rest of the cost will go towards auditing and vetting your claim. This is done within 90 days of your initial payment to us.

Mortgage mis-selling: What is the average payout?

The actual amount paid will depend on individual circumstances and can vary enormously based on your situation.

Mortgage mis-selling: What are the timescales to process my claim?

Each case is based on its own merit and we endeavour to get the claimed settled as swift as possible with the best outcome for you.

Mortgage mis-selling: If I make a claim will I be ‘blacklisted' by the lender?

No. Mortgage companies must ‘treat customers fairly' and you should not be penalised in any way.

Store / Credit Cards: I have a store card with these charges on. Can you reclaim them as well?

Yes. We can reclaim wrongly applied charges on any store card or credit card account.