Have you been mis-sold Payment Protection Insurance?
If you currently have a mortgage, you could be entitled to claim
thousands of pounds in compensation from your mortgage provider -
as they could well have mis-sold you a PPI (Payment Protection
Insurance) policy.
PPI has been in the news recently, as a vast number of borrowers
have come to the realisation that they have been paying through the
nose for expensive insurance policies which they cannot make use
of. If you have a mortgage, or any type of loan, you could be a
victim and not even realise it.
PPI is available on mortgages, as well as many other varieties
of loan. In theory, it is supposed to ensure that if your income or
cash reserves should dry up, you will have a means of keeping up
the repayments on your house, because the insurance will pay out
and give you the money you need to cover it. But in actuality, it
was sold to a large number of people who had no use for it, and in
some cases added on to the cost of mortgages without the borrowers
being told that they will be paying for it.
If you are paying for a PPI policy on your mortgage, you may
want to check our Grounds for PPI Compensation page to see if it
was mis-sold to you. There are a number of reasons that your
circumstances may have made a PPI policy an unsuitable choice for
you, and if any of these are relevant to you then you make be able
to claim for PPI compensation from your mortgage provider.
Alternatively, you may have been told that you needed to take
out PPI in order to get your mortgage approved, or that it would
cost less if you did so. You may even have had the PPI policy added
onto your mortgage without being told about it. In any of these
situations, the PPI was clearly mis-sold to you, and you should be
able to claim your money back.
If you're not sure whether you were mis-sold PPI, check your
statements - you may find that you have been paying for it without
knowing, and you could be owed thousands.
"I just had to put pen to paper and write to say I'm more than delighted with my settlement that you won me back from my PPI I had with Lloyds TSB. The Claim Forms were simple to fill in. It was a breeze"
Mr R Evans 11 Nov 2010