According to a business insider survey conducted in 2015 there are approximately five million British expats living abroad. Spain is considered to be the most popular destination for Britsh expats.
Can I Claim PPI as an Expat or Non-UK National?
As a British Expat or Non-UK National who has lived in the UK for a long period, it is likely that finances were arranged while you were a resident in Britain. This may include loans, mortgages or credit cards and, even though you are no longer living in the country you may still be able to claim mis-sold PPI.
It is possible that a PPI policy was attached to your deal without it being appropriate for your particular situation, or it could have been added without you knowing about it. In many cases, borrowers were pressured into accepting a loan, or the sale may not have followed rules and procedures that were required.
From Which Countries Can I Make a PPI Claim?
British Expats and Non-UK nationals can make a PPI claim from many of the world's most popular Expat destinations including Australia, Canada, Spain, Germany France, Italy, Ireland, Portugal, Dubai, Abu Dhabi, Kuwait, Japan, Singapore, Hong Kong, South Africa, New Zealand and Channel-Islands.
Although these are the the most popular destinations for UK expats and Non-UK nationals there are no specific country exclusions from where you can make a PPI claim.
What is PPI?
Payment protection insurance (PPI), also known as loan repayment insurance, credit insurance or credit protection insurance was designed so that the borrower could make repayments if they were unable to earn income to service the debt. This shouldn't be confused with income protection insurance which is not usually attached to a debt. PPI was widely sold as an add-on to the loan or an overdraft product.
PPI usually covered payments for a minimum of 12 months, this gave the borrower enough time to find alternative means of making repayments such as going back to work.
How was PPI mis-sold?
Some PPI policies were sold without the consumer even aware that PPI was added onto their loan. Some consumers claim that bank or other finance provider informed them that their application for a loan, credit card or mortgage would be declined if they didn't take out payment protection insurance. In some cases this led to fear of losing the finance and the borrower would accept the PPI even though they may not require it.
Some of the Banks & Lenders Facing PPI Claims
Grounds for a Making a PPI Complaint
A bank or other finance provider may have mis-sold you PPI if any of the below statements are relevant to you at the point of sale:
- Did you feel pressured into purchasing the PPI policy?
- A simple assessment of your personal circumstances to determine if PPI was of any benefit to you should have been carried out by bank or other finance providers, with no pressure or hard selling.
- Did you have a pre-existing medical condition at the time you were sold your PPI policy by the bank or other finance provider?
- If you were ever unable to work throughout the term of your PPI policy due to the pre-existing medical condition, you would not have been covered by the policy.
- Was the term of your PPI cover shorter than the term of the finance agreement AND did the bank or other finance provider not explain that there would be a period of no PPI cover towards the end of your finance agreement?
- If the bank or other finance provider did not explain that you would be unprotected for any period of time throughout the finance agreement, you may have been mis-sold your PPI policy.
- Did the bank or other finance provider make you aware about cancelling your PPI policy?
- You should have been made aware by them that you had the right to cancel your PPI policy within the cooling off period.
- Was the total cost of the PPI policy clearly explained to you at the point of sale by the bank or other finance provider?
- The bank or lender should have explained every aspect of any costs relating to your PPI agreement. Failure to do so would be considered a mis-selling factor.
- Did the bank or other finance provider enquire if you had PPI cover elsewhere that would have covered repayments?
- They should have asked if you had pre-existing PPI cover elsewhere as this would have been sufficient.
- Were you older than the upper age limit for your PPI policy?
- If the bank or other finance provider had an upper age limit on the PPI policy and you were above this set age, you would not have been covered.
- When you were sold your PPI policy were you unemployed, self-employed or retired?
- If you were unemployed, self-employed or retired when your bank or other finance provider sold you your PPI policy, you would not have been covered and therefore the PPI policy would have been of no benefit to you.
- Were you led to believe that the PPI policy was compulsory purchase to your finance agreement?
- If a PPI policy was required for the finance agreement, your bank or other finance provider should have made you aware that you had the right to shop around OR if you had pre-existing cover elsewhere, they should not have sold you another PPI policy.
- Were you aware that your bank or other finance provider had added PPI to your agreement?
- If you were not aware PPI had been added to your agreement, it may have been added without your consent or it may have been opt-out box which was not obvious.
- Did your bank or other finance provider make you aware that part of your PPI premiums may have been paid as commission?
- The Plevin ruling means that if over 50% of your PPI premiums were paid in commission to your bank or other finance provider, you were mis-sold and are due a PPI refund.
- Did your bank or other finance provider make you aware of any exclusions or circumstances in which you would not be eligible to make a claim?
- If you weren’t told by them about the exclusions, or circumstances in which you couldn’t claim, you may have been mis-sold your PPI policy.
- What could you be owed from your bank or other finance provider?
- If you have a successful PPI complaint against your bank or other finance provider upheld, you would be entitled to a full refund PPI paid to them, plus a full refund of any interest charged on the PPI by the lender and a compensation interest of 8% per annum on both of those combined.
Why Choose us?
It is, of course, possible for you to claim mis-sold PPI by yourself, but you may prefer to have the claim handled by professionals who have the knowledge and experience in dealing with the matter. There are a wide range of benefits to be found in using our professional services,
- We offer a Free, no-obligation PPI Check** which aims to find out whether or not you were sold PPI.
- We could uncover agreements you may have forgotten about
- We have a number of facilities available to use and use specific addresses for each of the following services- DSAR, formal complaints and information only requests.
- If your PPI Check** shows that PPI was or may have been present on any of your agreements, we will offer you the PPI Claim service which aims to recover any money you may be owed for mis-sold PPI.
- Should you pursue a claim, we will use our expert knowledge to determine whether the PPI sold was suitable, whether you were eligible and do all we can to ensure a refund.
- We will review any compensation offered by lenders, and should we have any evidence to prove that you should be owed more, we are able to appeal this for you.’
- If required, we will refer the case to the Financial Ombudsman at no extra cost to you.
- We will keep you updated throughout the process.
How To Make PPI Complaint?
The Financial Conduct Authority (FCA) has set a deadline of 29 August 2019, by which time all PPI complaints will need to have been submitted. After this date, consumers will lose the right to submit a complaint to their lender or the Financial Ombudsman Service.
If you have previously received a letter from us outlining potential concerns about the way PPI may have been sold to you, then you may have less time, so it is important to act as soon as possible.
Please be assured that by checking or complaining about PPI, neither your relationship with your bank or finance provider, nor your credit score will be adversely affected in any way.