When consulting a financial adviser, bank or broker, you expect to receive unbiased advice that reflects your best interests, particularly where complex financial matters are concerned. Those providing financial advice have a duty to ensure financial products are suitable for their clients’ needs, but many individuals with a PPI policy are unaware that this may have been mis-sold to them. If you feel the advice you have received has been misleading and resulted in significant losses then our financial and PPI specialists have the knowledge and experience to assist you.
What is PPI?
Payment Protection Insurance (PPI) is designed to protect loan or debt repayments should a change of circumstances cause you fall behind with repayments, for example being made redundant or taking time off work due to illness. PPI may also be referred to as ‘loan protection’ and may be sold to you if you are taking out a loan, mortgage or credit card. However, some PPI policies may have been mis-sold to customers and in such cases individuals may be entitled to a refund.
There are a number of ways PPI may have been mis-sold to you:
• The policy was added to your loan without your knowledge
• You were told that you could not take out a loan without having PPI
• Your PPI policy was unsuitable for your needs and would not provide protection in the event of a claim
• Your PPI policy was taken out while you were unemployed or self-employed
• Your PPI policy did not provide the protection you thought it would or was not fully explained to you
If you feel you have been mis-sold PPI and would like to find out how to make a complaint, then our specialists will be happy to help. Please call 0800 988 0777 for more details.