PPI Mortgages
Over the last few months the Financial Services has charged a number of high street banks and lenders with mis-selling personal protection insurance which has included PPI Mortgage.
It is actually fairly surprising that some of the banks and lenders that have been charged are the ones the people would be most likely to turn to. The Alliance and Leicester is one of the biggest banks that have been charged with mis-selling PPI to its customers. Due to the PPI that this bank mis-sold the FSA charged them about seven million pounds and this was mainly due to their staff not correctly stating that the insurance was optional. The training that the bank provided for its staff taught them how to use aggressive sales techniques and how to put pressure on the customer who started asking about PPI.
Checking PPI Mortgages
If you think that you may have been mi-sold PPI then it is a good idea to check the agreement that you have with your lender. It is very important to bear in mind that PPI mortgages was not the only thing that was mis-sold, as PPI was also mis-sold on credit cards and personal loans.