PPI UK Advice

In the UK the repayment of loans is overloaded by the addition of Payment Protection Insurance PPI that may have been missold.

This mostly happens when a borrower is mis-sold PPI UK on a unsecured loan, store card, secured or mortgage loan.

In the UK there are solicitors who are defending customers who have been mis-sold PPI payment protection. They will assess whether PPI was missold and attempt to recaim your PPI policy premium for consumers.

Do you live in the UK – have you been sold PPI without your consent?

• If you feel you have been added the cost of PPI without your consent, you may seek the guidance of experienced solicitors who will act as guiding light.
• You can also contact at the FOS Financial Ombudsman Service to make a complaint.

Financial Services Authority FSA – PPI UK

FSA conducted surprise visits to firms and conducted mystery shopping to uncover PPI mis-selling. Of 45 firms they exposed 30 of them mis-selling the loans. These firms showed no interest in assessing the suitability of the customer. Setting a target to the sales personnel could have led to mis-selling in some establishments.

The FSA fined some banks and lenders for mis-selling PPI Policies including:

1. Regency mortgage
2. Redcats
3. Capital One
4. Egg
5. HFC Bank
6. Alliance& Leicester

Under the Financial Services and Markets Act 2000

FSA regulation has short listed four major objectives, namely:-

• Promoting public understanding regarding the financial system
• Securing appropriate protection for the customers
• Fighting a financial offense
• Maintain market confidence.

Competition Commission PPI Investigation Research - PPI UK

The other work stream group is the Competition Commission, which is a public body that conducts an extensive market research that works for the benefit of consumers, UK companies and ultimately, the economy as a whole.

Previously, its role was to act as a channel to the Government, but now it has been given powers to improve competitions in the companies, and make a lucid assessment of the market. It plays an active role in Financial Services and Markets Act 2000 and the Legal Services Act 2007.

If you’re not sure what do to next – get in touch with us. We should be able to sort out which company is involved and pursue then for compensation.

• 'No Win - No Fee' Service and No Upfront Fees
• Expert friendly advice
• We will handle your case from start to finish

Click here to complete your PPI Claim Form