Northern Rock Claims
Mis-sold PPI on loans, mortgages and credit cards
Northern Rock Asset Management (NRAM) was born in 2010 at the height of the financial crisis. It was formed from the Northern Rock Bank which was nationalised in 2008 at the start of the crash. The ‘good bank’ was sold off to Virgin Money with the ‘bad’ bank which included many former Bradford & Bingley mortgage accounts forming the new company. Read on to find out more about NRAM PPI Claims.
Both sold PPI
Both Northern Rock and Bradford & Bingley sold payment protection insurance alongside loans mortgages and credit cards. The insurance was meant to ensure that borrowers would be able to continue making payments if they came out of work through accident, sickness or unemployment.
But it was often sold to people who didn’t want it, didn’t need it or couldn’t have made a claim on it because of exclusion clauses within the policy. Basically, they failed to follow the strict guidelines covering the sale of financial products in the UK.
How do I know if I’ve been mis-sold?
Policies were mis-sold in a number of ways, including:
- Were you told the policy was compulsory? PPI is always optional.
- Were you warned that your employment status could affect whether or not you would be paid out?
- Did you receive full sick pay from your employer?
- Were you warned that a pre-existing medical condition could prevent the policy paying out?
- Were you even aware that PPI had been added to your agreement?
Claiming back PPI
We offer a Free PPI Check** which aims to identify any PPI your lenders may have sold to you. Should you decide to pursue a claim through us if PPI is found, we will treat your case with the utmost care. Getting started with Gladstone Brookes is simple. Just call us on PPI check form on our website.or fill in the
For any claims pursued, we aim to recover 100% of any premiums that you have paid, plus any interest paid on those premiums and where possible a further 8% in statutory interest.
Gladstone Brookes has a 91%‡ success rate on the claims we make on behalf of our clients and we have already recovered more than £1 Billion± for our clients against a wide range of lenders.
Making a claim
Once a letter of claim is issued to NRAM, they should acknowledge it as soon as possible and then our average timeframe is 8-16 weeks from the date of that acknowledgement to a final decision being made.
If your NRAM PPI claim is a success the compensation will be paid directly to you and Gladstone Brookes will then invoice you for our fees which are 20% + VAT° of the total redress offered by your lender, including any reduction of any outstanding agreement, which if in place the PPI may be cancelled. If we are unsuccessful there will be no charges whatsoever†.
Of course, your claim might also be rejected, but if that happens Gladstone Brookes will assess the terms of the rejection and advise you whether or not an appeal to the Financial Ombudsman Service (FOS) to overturn the decision might succeed.
It’s all part of the same no win no fee† service. Our specialist team will carefully examine the rejection letter and, if they feel there is the chance they can get the decision overturned, they will write a bespoke appeal for submission to FOS.
Did NRAM sell you PPI?
To start a PPI check and find out if you were sold PPI, which you could reclaim, simply fill in our online form. Start My PPI Check