Natwest PPI complaints
Within the last five years all the UK’s leading lenders have received an increased number of payment protection insurance claims. The increase comes in the wake investigations by the Office of Fair Trading and the Financial Services Authority that shone a light on some significant and widespread issues with the way the cover had been sold. As a consequence, there has been a sharp increase in the number of Natwest PPI complaints and complaints against PPI providers across the board.
The mis-selling of PPI has become such a significant issue because there are a wide variety of ways in which the policies can be mis-sold and the correct selling of the cover requires careful monitoring and control. Some examples of mis-selling are outlined below.
You were sold the policy without being given a full breakdown of costs
Payment protection can be very expensive and, therefore, it is essential that your lender explained all the cost implications before you took out the policy. Unless you were given this information you could not adequately assess whether you needed this type of insurance or whether it was the right option for you. If this didn’t happen you may be entitled to make a claim for mis-selling.
You were told taking the cover would improve your chance of being given the loan
This information is incorrect. Taking out payment protection cover would not guarantee or improve your chance of being given a loan. The decision would be based solely on your credit rating and financial status. If you were given incorrect or misleading information you have the right to make a complaint.
You were sold a policy that was unsuitable for your needs
Payment protection insurance is not right for everyone and not everyone can be covered by a policy. Most policies, for example do not cover customers over the age of sixty-five. If you were sold a policy that was unsuitable for your needs or that you were ineligible to use you have the right to make a complaint.
For more information about making a Natwest PPI complaint speak to a member of our team today on 0207 471 2000.
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