PPI Claims On Mis Sold Mortgages
Have you taken out PPI on a Mortgage, Car Loans, Home improvement loans, Secured Loans and even personal Loans. It doesn’t matter if the loan is current or previously redeemed.
If you have already tried to make a ppi claim and been refused by your lender it doesn’t matter. You will be taken much more seriously if you use a professional service.
It doesn’t matter if you win or lose (which is unlikely). You pay no fees to make a ppi claim. Research now shows that up to 90% of policies sold in the UK are useless. Many people when trying to claim on their PPI are told that they are not eligible to make a claim on these policies.
It is estimated that over 20 million people in the UK have been mis-sold a payment protection insurance policy, some might not know they even have one. Recent changes in the consumer credit act has forced companies to issue at the very least, annual financial statements. If you have never recei ved a financial statement from your lender then chances are you have no idea how much you actually owe.
The sale of Single Premium Payment Protection Policies, insurance to your loan in one lump sum, has recently been BANNED at the point of taking out the loan. If you have one of these policies then chances are it was mis -sold and you are paying for something in which you will never likely be able to make a ppi claim on.
Mis-selling checklist
- Were you told the PPI policy was compulsory?
- You were told the insurance was essential for you to get the loan
- Where you asked if you had another policy or insurance in place that would cover you?
- The terms & conditions of the loan insurance policy were not fully explained to you.
- You felt under pressure to take out the loan insurance
- Where you informed that alternative and cheaper insurance products were available to you?
- Did the adviser tell you about any significant exclusions under the policy – for example, the exclusion that says you won’t be covered for any pre-existing medical condition?
- If you took out a loan or finance agreement, did the adviser make it clear that you would have to pay for the insurance up front in one single payment?
- If you had to pay for the PPI as a single payment, did the adviser make it clear that the insurance cost would be added to the loan and you would be paying interest on it?
- Single premium PPI insurance normally lasts for 5 years. If your loan or finance agreement was for longer than this, did the adviser make it clear that the insurance would run out before you had finished paying for your loan or finance agreement? The adviser should also have told you that you would continue to pay interest on the insurance premium, even after the insurance expired.
- You were under 18 or over 65
- You worked less than 16 hours a week
- You were employed on a temporary or contract basis or were aware you may become unemployed
- You suffered from stress, backache or had a pre-existing illness or injury
- You were not told about the true cost of the insurance, (or not told you were buying it at all).
- You were not asked about any other insurances you had
- You were not told that the same policy could potentially be bought elsewhere cheaper.
- You paid for loan insurance upfront and it was not refunded to you when you paid back your loan early.
If any of the above apply to you why not claim back your ppi premiums now? You could receive thousands of pounds back.
If you still need PPI you can shop around and buy it cheaper elsewhere ……………..and read the small print and exclusions first!
