Please find below, the answers to our most frequently asked questions:
- How do I know if I have been mis-sold?
If you meet one or more of the following categories you may have a claim
• Are you unemployed, self employed, redundant, or retired?
If you have been paying for a policy which includes unemployment cover – if you didn’t need this and mentioned it to the adviser or you were never asked about you employment status at all - you may have a claim
• Have you had medical problems in the past?
Most polices exclude existing medical conditions meaning you won’t be covered for anything you may have had in the past – if you were not told this or were never asked about your medical history – you may have a claim
• Were you sold a single premium loan policy?
The whole cost of the policy is added to your loan and repaid over the loan term, if you had one of these policies and left or changed the agreement part way through you may be eligible for a part refund – if you did not realise you were not covered for the full term of loan you may have a claim
• Were you given full details of the policy?
Were you told it was compulsory, did you even know that you had the PPI added to your loan, were you told it would significantly increase your chances of successfully obtaining the credit?
• Have you consolidated your borrowing?
If you have had a bank refining package or consolidated an outstanding debt an insurance premium is likely to have been added and may be recoverable
• Did you already have insurance with someone else?
If you already had insurance and were encouraged to take out theirs as your own insurance may not cover it you may have a claim.
• Have you cancelled your PPI and only got a fraction of what you had paid?
You may be able to claim for a fair refund
• Was it a joint loan but the policy was only in a single name?
If all names responsible for paying the loan are not covered under the insurance you may be able to claim if you were not aware of this
• Were you sold the finance in a shop?
If you have a store card or were sold car finance it is possible you were sold this by someone with no financial background leaving more room for error
• Were you aware you were taking out insurance?
Many people don’t realise the loan they had taken had insurance on it as the quote they were given stated “your fully protected loan will cost ….” Without mentioning the word insurance you wouldn’t have realised that you were taking it out.
Answer:
• If your policy started in the last six years whether you are still using it or not
• If your policy started over six years ago and you are still using it or it ended in the last six years
• If your policy ended over six years ago but you still have the paperwork your chances of success are reduced as it will depend on what you can remember about the sale
• If you policy ended over six years ago and you do not have the paperwork you are like to be unsuccessful as no one will have a record of a contract (they only keep records for six years).
- How long will the claim take?
Answer: This all depends on the insurance provider – the regulations state they should respond in eight weeks, they will usually provide us with an internal time frame as to when your complaint could be finalised, in the unlikely event the complaint is not successful or your loan company is unresponsive we will pursue your compliant with the Financial Ombudsman Service.
- What if I don’t have the details of my insurance?
Answer: With your authority we can apply for copies of your insurance documents and other documents relating to your insurance that may help your claim.
However this may delay you claim for a period of time while we wait for the data request.
- Will my policy be cancelled if I claim?
Answer: Yes in the event that your complaint is upheld and a refund if offered your insurance will be cancelled. This will enable you to find a policy that is suited to your personal needs if you decide that you would still like to have insurance stand alone polices can be up to 70% cheaper.
Answer: You will be required to sign an agreement for Morton Lloyd & Co Ltd which fully explains the terms and conditions on which you will be entering. We will also require you to sign a letter of authority document, (this will give us the authority to act on your behalf)
We will ask you to complete a short questionnaire (most questions multiple choice) to establish the main details of your mis-selling.
That is it - we will take over and handle your complaint from start to finish informing you of any developments made
- Why should I choose Morton Lloyd & Co Ltd?
Answer: Morton Lloyd and Co Ltd is a friendly established family run business who pride them selves on customer satisfaction and treat every client as a person not just a number.
We have successfully secured over 1/2 a million pounds for our existing clients over the last 18 months alone.
Our client’s are so impressed with our service that they come back to us for other products and give us referrals.
Morton Lloyd does undertake a small amount of advertising but the majority of our client base is built up on referrals.
Morton Lloyd and Co Ltd have unrivalled knowledge in the claims management business.
We are fully regulated with the Ministry Of Justice the main regulating body for claims management companies and for your protection we are registered with the Data Protection Act 1998, we are also Registered in England with Companies House.
Answer: Morton Lloyd and Co Ltd offers a very competitive flat fee of 25% of the compensation you receive.
There are no extra administration costs and no extra VAT Fees
25% No Win No Fee - as simple as that no catches
There will be a cancellation charge applied if you do not cancel your agreement within the fourteen day cooling off period
- What do I need to do now?
Answer: Call us now on 0845 643 0352 and leave your details 24/7 for a free information pack or contact us via our online form or email info@mortonlloyd.co.uk
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