Due to a landmark court case known as Plevin, you could still be able to claim compensation. Our no obligation Free Plevin Check is a simple way of finding out if this could be you.
Start your checkHendersons have over 10 years experience as financial claims specialists, fighting hard to get our customers back what they deserve. We will check all of your accounts, for free, to see if you may have a claim. Then, if you wish to proceed, you will be referred to our legal partners who will handle your case.
There was a large commission
paid in relation to the PPI
The commission was not disclosed
when you purchased the policy
Tell us about every credit card, loan, mortgage and any other finance you had.
We’ll look at all of your accounts to see where you might have a claim.
If you have any possible claims, you choose if you want to use us and our legal partners to submit them.
You can pursue the claim yourself without using a Claims Management Company and without cost. You will first need to complain directly to the appropriate third party who sold you the product or provided you with the advice and if this is unsuccessful, you can complain through the Financial Ombudsman Service, The Pension Ombudsman, or the Financial Services Compensation Scheme (depending on the type of complaint and circumstances).
The Supreme Court found that the lender’s failure to disclose this commission created an unfair relationship under the Consumer Credit Act. The court stated that where so much commission was being paid to intermediaries a reasonable person would be bound to question whether the PPI represented value for money or, whether they would have taken it out at all.
As a result of the judgement in Plevin, you may be able to recovery the commission that was paid in association with the sale of PPI, even if you have had a PPI claim rejected or missed the PPI deadline.
* https://www.fca.org.uk/news/statements/fca-statement-payment-protection-insurance-ppi
In a case in the High Court called Canada Square Operations Ltd v Potter, the borrower only discovered a commission of 95.24% on a PPI policy, eight years after the loan agreement ended. Canada Square accepted that its relationship with the borrower had been unfair but argued that there had been no duty to disclose the commission and so there was an absence of deliberate concealment.
However, the High Court judge said Canada Square had made a deliberate decision not to do something in circumstances where it was obvious that the existence of the commission would not be discovered for some time and that was good enough to have earned the borrower an extension of time for bringing the proceedings. This enables access to justice for thousands more individuals with an ‘unfair relationship’ claim with their lender even if the end of the credit agreement is beyond the six-year limitation period.