Nationwide Loan Protection
For many years loan protection insurance was regarded as a must-have form of protection by many customers taking out loans or mortgages. The cover has fallen out of favour in recent years; though, as it has emerged it has been widely mis-sold. This has resulted in many customers being left with policies they cannot use, do not want or need.
If you believe your Nationwide loan protection policy may have been mis-sold you may find the information below helpful.
When you took out your loan protection cover did your lender clearly explain the full terms and conditions of the policy? If not, your policy may be considered to have been mis-sold.
Were the full costs explained to you? Loan protection insurance can be expensive. Your lender should have taken the time to clearly explain all the costs involved. If this did not happen you may be entitled to make a complaint.
Was your suitability for the cover adequately assessed? Loan insurance may not be suitable for everyone. In order to ascertain whether you should have been offered the cover your lender should have carefully evaluated your circumstances. If, for example, you were retired or unemployed this type of cover – which provides for loss of employment – should not have been offered to you. Similarly, if you already had cover in place elsewhere or were in secure employment with full sick pay entitlement. If your lender sold you a policy that you didn’t want or need, you may have mis sold payment protection and may be able to make complaint.
If you think you have mis-sold Nationwide loan protection insurance you can start your claim today by calling 0207 471 2000. Our team are on hand to talk you through the claims process and to answer any questions you may have.
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