Natwest PPI reclaim
The issue of mis sold PPI has again risen to prominence in recent months as a High Court review brought the subject into back the public domain. Since 2006 the issue of mis-selling of payment protection insurance has been something of a thorn in the side of banks and lenders. Since an investigation by The Financial Services Authority (FSA) revealed the cover may have been widely mis-sold the number of PPI claims has increased annually and most major lenders have been forced to pay out millions of pounds in compensation. Just one of these lenders was Natwest who has seen the number of Natwest PPI reclaims rise significantly.
The High Court review was requested back in December 2010 by The British Banking Association (BBA) who was unhappy with new guidelines announced by The FSA. The guidelines aimed to prevent a repeat of the mis-selling scandal by more clearly defining the lenders obligations at the point of sale. The BBA were unhappy with the new regulations; however, as they felt they would force lenders to look at older sales against new guidelines. In April 2011 the High Court returned its verdict finding in favour of the FSA. Following the FSA’s victory it is thought there may be another sharp rise in the amount of unhappy customers making PPI complaints.
In the second half 2010 871,271 complaints regarding Natwest were recorded by The Financial Services Authority with 63% of these being Natwest PPI reclaims. If you believe you may have been mis-sold a Natwest PPI policy on a loan, mortgage or credit card you could start your claim today by calling our team on 0207 471 2000. We are an independent claim company and we work on a no win no fee.* For every claim we handle we aim to get a full refund of all premiums paid for our customer plus 8% interest. To find out more call our team today.
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