Britain’s banks and other retail and commercial financial institutions aggressively sold an ‘ineffective and inefficient’ – but highly profitable – payment protection insurance (PPI) for more than a decade.
Whilst the product itself is reasonable and works well when sold in the right way to those who could benefit from it, it was sold to numerous people who would never benefit from its provisions.
PPI policies were sold alongside mortgages, loans and credit cards, store cards and catalogue accounts since 1988 to 2014. They were meant to repay people’s borrowings if their income fell because they became ill or lost their job. However, this was far from the reality.
Banks and other lenders sold PPI to customers without fully explaining how it worked, what it covered, and they failed to check eligibility. Some customers were told it was compulsory to have PPI otherwise they may not get the loan, or it was added without the customers consent or knowledge.
To determine whether you were mis-sold PPI, ask yourself the following questions:
- Did you realise at the time you were buying this type of insurance?
- Were you told (falsely) that you had to buy it?
- Did it really cover you in the first place? (self-employed people, for example, are not covered by PPI)
- Did you actually need it?
If you think you have reason for complaint for mis-sold PPI, you can start a FREE PPI check with us. Shown below is the list of every bank and lender we can deal with. Use the search box to quickly locate your lender or finance product and complete short form on right to start your FREE PPI check** Today!
Who sold PPI?
Britain's banks and other retail and commercial financial institutions aggressively sold an 'ineffective and inefficient' – but highly profitable – payment protection insurance (PPI) for more than a decade. PPI policies were sold alongside mortgages, loans and credit cards, store cards and catalogue accounts since the 1988 to 2014. They were meant to repay people's borrowings if their income fell because they became ill or lost their jobs. However, this was far from the
To determine whether you were mis-sold PPI, ask yourself the following questions :
- Did you realise at the time you were buying this insurance?
- Were you told (falsely) that you had to buy it?
- Did it really cover you in the first place? (self-employed people, for example, are not covered by PPI)
- Did you actually need it?
If you think you have reason for complaint for mis-sold PPI ,you can start a FREE PPI check with us. Shown below is the list of every bank and lender we can deal with. Use the search box to quickly locate your lender or finance product and complete short form on right to start your FREE PPI check** Today!
