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Claim Back Loan Insurance

Fee Protection Insurance

Many lenders persuade borrowers into believing that payment protection insurance (also known as fee protection insurance), is mandatory or advantageous in order to earn commissions for the sale of each policy. In actuality, borrowers are not obligated in any way to purchase insurance policies for their loans. Luckily, lenders that use such dishonest tactics to mis-sell PPI policies are regularly held accountable for providing PPI refunds, and a lot of reputable banks have even been fined millions of pounds for PPI mis-selling. Not surprisingly, most fee protection insurance plans in the UK could be classified as mis-sold PPI policies, which is one of the reasons why 90% of PPI appeals are honoured by the Financial Ombudsman Service.

Who Is Actually Eligible for Fee Protection Insurance?

Since so many policyholders are denied cover due to eligibility, you may be wondering who is actually eligible for the protection insurance. Payment protection insurance companies require that policyholders be younger than 65, older than 18, employed full-time, and not enrolled in any form of education full-time. Furthermore, if the reason why you cannot make repayments is due to family related issues or pre-existing health conditions you will not be able to receive repayment assistance by filing of PPI policy claim. Instead, you'll have to file a PPI claim against the lender that sold you the protection insurance policy in order to receive reimbursement within eight weeks.

Were You Inappropriately Sold Fee Protection Insurance?

If you've been denied repayment assistance by the insurance company and you can be fairly certain that you were mis-sold the protection insurance. Mysterious bank charges pertaining to various types of insurance policies may also be an indicator of a mis-sold policy. Sometimes the lender will even fail to mention the policy or its terms, conditions, and cost adequately, causing the borrower to have to fairly review their loan agreement or monthly statement to find out about the policy. Luckily, once you suspect that you have been mis-sold a policy is fairly easy to receive a PPI refund.

How to Claim Back Fee Protection Insurance Today

We are accustomed to dealing directly with lenders, mortgage brokers, credit card issuers, and banks, and can therefore provide essential guidance on how to proceed with your claim expeditiously and efficiently. Simply fill out the quick claim form, or call the number, located at the top of the page to receive a free consultation or claims packed in the post that will provide all of the information needed to receive compensation from the lender that sold you a fee protection insurance policy unnecessarily. In addition to receiving the cost of the policy premium or the portion of monthly repayments that were allocated towards the PPI policy, you'll also be able to recover additional interest charges that the policy incurred.


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