Were You Mis-sold?

It is estimated that 70% of all payment protection policies were mis-sold is some way.

Some of the most common reasons why PPI policies were deemed to be mis-sold are:

• The customer was told that they had to have the insurance policy to get the loan
• The company did not clearly explain the product and its limitations
• The PPI was added without the customer's knowledge.
• Selling unsuitable policies to people who would not be able to claim (e.g. if you were self employed, not in full time employment at the time of taking out the loan, medical reasons)
• The company did not make the customer aware of any alternatives
• The company did not disclose the full cost and that interest was payable on the premium
• Cover was not provided for the full term of the loan and the company failed to explain
• Paying the loan off before the policy finishes results in a limited refund on PPI