mortgage compensation claims
Millions of Brits Owed PPI Loan Insurance Refunds – We guarantee you’ll find this interesting! You Can Claim Your PPI Refund Today
Have you taken out a credit card, store card, payment card, mortgage, loan or hire purchase agreement in the last 10 years? If you have, and that agreement included payment protection insurance (PPI), you may be able to reclaim up to £15,000.
You shouldn’t have been sold the PPI policy in the first place if it wasn’t right for you. Your compensation claim could be a full refund of all your premiums plus interest.
Your PPI claim will not have a negative impact on any existing loan or your ability to obtain a loan in the future. You may even have more than one claim even if you have claimed on the insurance or the policy is no longer in use.
There are time limits as to when you can make a PPI claim, its essential you waste no time. You can still claim even if your PPI claim was previously rejected by the lender, but if the PPI policy is over 6 years old there is less chance of claiming due to “time barring” (Limitations Act 1980 says that you should claim within 6 years of taking PPI or 3 years of knowing there was a problem). Also, under the Data Protection Act, lenders only need to keep documents for 6 years. If your loan is more than 6 years old, you’ll need to have all the documents.
The Ministry of Justice say that PPI “is a product that many argue is of questionable value”.
They add “Many customers don’t realise they have bought it and those that have purchased it often find that they can never claim.” On top of that, the FSA say that “It’s vital that firms deal with these complaints fairly. Unfortunately we do not currently have confidence that firms are doing this. On average, firms have rejected around 60 per cent of the PPI complaints they have received, but some firms have rejected nearly all.”
Reports by the Office of Fair Trading, the Competition Commission and the FSA demonstrate that there had been substantial misselling in this area and actively encourage people to claim. They acknowledge it is difficult to find customers who have been missold PPI where the customer doesn’t actually know that they have the product.
Jonathan Djanogly MP, Parliamentary Under Secretary of State has said that the claims management industry provides a significant way to offer consumers services to obtain appropriate redress for mis-sold PPIs.
He said that “Many claims management companies provide an important service for thousands of consumers seeking compensation, redress and access to justice for genuine wrongs they have suffered at the hands of another party.”
The Chief Ombudsman of the FOS adds, “It is undeniable that the marketing activities of claims management companies have succeeded in identifying a very large number of consumers who have suffered loss. And this has resulted in many people being paid redress when they would otherwise have received nothing.”
According to the Banking Times “lenders selling PPI can expect to earn £1,200 from a policy that costs £20 to provide”. Is it any wonder that PPI providers cut corners?
About the Author
The CanYouClaim.co.uk site is a PPI claims advertising vehicle for Portal Claims LLP, Cobham House, Sunderland Quay, Rochester, Kent ME2 4HN. Portal Claims LLP is a limited liability partnership with registered number OC306372. Portal Claims is regulated by the Ministry of Justice in respect of regulated claims management activities; its registration is recorded on the website claimsregulation.gov.uk
mortgage compensation claims Questions
Compensation for mortgages?
Hello,
I just wanted to introduce myself
I work for a company dealing with compensation claims for products that were sold between 1990 and 2005 and the contracts aren’t actually valid!
This is quite a new thing and is a great success so I wanted to share it with others.
The products are mortgages or secured loans with sub prime lenders. Car finances over £10000 or house repossesstions.
If you think this may apply to you then please contact me and I will be able to tell you if it is a valid claim.
Thanks
Mel
Advertising (of any sort) is called ‘SPAM’ here ..
… and most offers of Financial ‘help’ turn out to be scams or con tricks, so ‘we’ tend to be very cynical about offers like yours …
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