PAYMENT PROTECTION INSURANCE –
It is common that PPI is sold by lenders for various loan products such as mortgages, credit cards, store cards and purchase hire agreements.
PPI itself is quite beneficial, as it can help if you have become ill or unemployed, usually for up to a year. However, the manner in the selling of PPI has been widely criticised. As, many advisers are incentivised (with commissions) to boost sales in PPI, therefore leading to consumers purchasing PPI who are either unsuitable for them or they just did not want it.
A company that sells PPI has a duty to ensure the policy is appropriate and suitable for the consumers. For example, if the consumer was paying for unemployment cover but was self-employed, unemployed or retired then the PPI, would not be appropriate, meaning the lender had mis-sold PPI. Further reports show that advisers had deceived the consumers, suggesting that it was compulsory to take out PPI if a loan was required, this is not the case.
WHAT WE CAN DO FOR YOU –
We would happily assist on your behalf and investigate whether or not you have been mis-sold PPI.
If we find that you have, then we will promptly take your case forward and make sure you are compensated for your loss, regularly keeping you updated about the progress of your case.
We would only seek a contribution of the total compensated amount, to cover our own costs of the PPI refund. This is only if we successfully resolve your complaint, as we work on a ‘no win no fee’ basis.
We offer a no obligation, initial consultation to give you further information, so give us a call on 01772 494366 or fill out our contact form and we will allocate an appropriate member of our team to get back in touch with you.
“Dylan Nair is a firm with only highly-skilled, trained and experienced solicitors.”
EXAMPLES OF MIS-SELLING –
If the adviser:
– Did not make it clear the policy was optional or tell you about any cooling off period.
– Implied or stated it would be more expensive if you did not take the insurance.
– Implied or insisted that you should take out their policy to qualify for a certain product or application.
– Were quite forceful when selling the product, therefore giving you the inability to reject.
– Would not let you continue with their services, if you had not signed the insurance agreement.
*These are only a few of the many ways you could have been mislead into purchasing PPI.
HOW MUCH WOULD YOU RECEIVE?
This may depend on how much you had initially paid, but you should generally expect a full refund with an interest rate of around 8%.
Get in contact today for a consultation with a member of our specialist team. Call us on 01772 494366 or alternatively fill in our contact form below.
DYLAN NAIR SOLICITORS LTD.
Registered Office: 55 Garstang Road, Preston, Lancashire, PR1 1LB