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Buyers Protection Insurance

Buying a house is one of the most exciting things you may do in your life time. However, it also comes with quite a bit of stress. You want to be sure that you inspect everything well and that there are no problems with the financing. Because of this it may be easier for you to be talked into doing something that is not so smart such as purchasing buyers protection insurance. You have probably heard about the PPI racket going on in the UK and may not be aware that another name for payment protection insurance is actually buyers protection insurance. Any time you hear the term protection insurance be cautious! There are thousands of people having to try and get their money back as a result of mis sold PPI. If you don't want to have to go through all of that and file a PPI claim along side of them then you may want to pay close attention to what is going on.

Payment Protection Insurance Being Mis Sold

According to recent statistics more people who are paying for PPI are ineligible for cover than those who are actually eligible. In fact, some polls have suggested that as many as 90% of policy holders would never qualify to collect benefits! This is a staggering number and one that definitely does not provide comfort when broaching the issue of buyers protection insurance. The way lenders are miselling these policies, is that they are simply selling them to anyone at all, whether they meet criteria for cover or not. This means that age, pre-existing conditions, employment conditions or anything else that would disqualify a person is being ignored. Another way this protection is being sold is through means of deception such as not even telling the buyer that it is being attached to the loan.

Is Buyers Protection Insurance Necessary?

The short answer is no! In fact, the long answer is also no! Never let a lender tell you that you must have buyers protection insurance. Some lenders will resort to intimidation tactics like telling you that you may not be approved for the loan without the cover. Do not subscribe to that notion as it is false. No respectable lender is going to place conditions like that on a buyer. If you do not pay your home loan then you will have your home repossessed, as simple as that. Anything else is just not necessary. If you have fallen for the line and purchased buyers protection insurance know that it is not too late to act. You can cancel your insurance policy at any time and are under no obligation to continue paying the premiums. In fact, if you have been misled then you may be entitled to a refund on the money you've paid thus far.

Belmont Thornton, the PPI Claims Company can help you as they've helped thousands of others claim back money spent on PPI. It takes only a simple call to get started. You can also contact us via this website and fill out a quick claims form that we can send you back in the post. If you've paid for something you shouldn't have then there is no time like the present to correct the issue.

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Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B16, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

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* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

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