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MBNA Loan Insurance

It has been hard to avoid news regarding the loan protection insurance scandal in recent months. In May 2011, the High Court reviewed new Financial Services Authority (FSA) guidelines regarding the sale of the cover.

The British Banking Association (BBA) had requested the review as many lenders were unhappy with the new guidelines which they felt would force them to examine old PPI sales against new standards – potentially costing them millions. The FSA disagreed with the BBA’s assertion arguing that the guidelines were not new rules, but simply a clarification of existing guidelines. The High Court agreed with the FSA.

Since the High Court returned its findings, many major banks have announced the allocation of significant funds to deal with claims and it is hoped that this will prove to be a turning point in the PPI battle.

If you have not yet made a claim, but suspect your MBNA loan insurance policy was mis-sold, there is now no better time to start. If you are unsure whether you policy was mis-sold, the list below should help. If you answer ‘yes’ to any of the following questions it is likely you may be the victim of mis-selling and may be entitled to a refund.

  • Were you told you had to have the policy?
  • Was it added without your consent?
  • Were you led to believe taking out the cover would guarantee or improve your chance of being given the loan?
  • Were you pressured into taking out the cover?
  • Were you self-employed, unemployed, retired or in full time education?
  • Were you suffering from a pre-existing medical condition?
  • Were you sold a single-premium policy that would not cover the whole of your repayment period?
  • Were you sold the policy without the terms and conditions being fully explained?
  • Were you sold the policy without the costs being made clear?

To make a claim for mis-sold MBNA loan insurance or payment protection claims against any other lender call 0207 471 2000 today.

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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 B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

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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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