Mis Sold PPI | First Mortgage Trust©

We reported on 'mis sold ppi In October 2005 and that a study had claimed banks were taking £4bn a year in commission on overpriced' loan insurance. The survey found some banks were charging £2,900 to insure a five-year £8,000 loan, compared to the true cost of around £750.

For three years from January 2005 to December 2007 A&L were accountable for approximately 210,000 policies to customers seeking a personal loan at an average price of £1,265, the amount of mis sold ppi is still to be established. The regulator found there was a general failure by advisers to give customers details of the cost of PPI. In addition A&L sought to find reasons to sell PPI without properly considering what customers needed. A&L were subsequently fined £7 million, the largest fine imposed so far over the PPI issue.

Do I qualify? Enquire now.....

If you have this insurance on any of your loans or mortgages then there is a good chance you have a claim for thousands. Millions are owed to mllions and after 3 years consumers who have suffered another episode of mis selling are rightfully seeking redress. Here are a few helpful points on ppi mis selling claims and compensation:

You were under 18 or over 65 .

You worked less than 16 hours a week .

You were employed on a temporary or contract basis .

You suffered from stress or backache.

You had an existing illness or pre-existing condition.

You were aware you may become unemployed.

You were not told about the cost of the insurance (or not told you were buying it at all).

You were not asked about any other insurance you had.

You were told the insurance was necessary for you to get the loan.

You were not told that the same policy could potentially be bought cheaper elsewhere

Claiming won’t affect your credit rating and our services are FREE if we do not win. Please note: It is not the loans that give rise to your claims for thousands but the PPI, (Payment protection Insurance, Income Protection, loan insurance), that was sold alongside it. A mis sold ppi claim, on average, is for about £3000.

Mis sold PPI?