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Royal Bank of Scotland

Lender Information

For a brief period in 2008, Royal Bank Of Scotland was the biggest bank in the world, but the aggressive acquisition programme which saw it expand so quickly contributed to its downfall when the Labour government had to pump £45.5 billion of taxpayers’ money into it to save it from going broke.

It still remains 62% government controlled, though plans have been announced for re-privatisation, even if shares have to be sold at a loss.

The bank has set aside a total of £5.1 billion for PPI claims, of which £4.1 billion has already been paid out. However, as with many of the high street banks, the size of the PPI pot is under review because of the increased number of claims being received following the FCA’s claims deadline consumer awareness campaign.

Along with the rest of Britain’s high street banks, RBS came under investigation in 2013 by the FCA after the regulator became concerned about the high number of rejections for PPI claims.

In a statement the FCA said the number of rejections was ‘outrageous’ as the Financial Ombudsman Service (FOS) had overturned more than 80% of them in favour of the consumers.

How was PPI mis-sold?

If you took out a loan, credit card or mortgage with Royal Bank of Scotland, it is likely you were mis-sold PPI if you experienced any of the following:

  • you were pressured into buying PPI or told you must have PPI
  • you were promised a cheaper rate if you bought PPI
  • you were already covered by another policy
  • you received full sick pay from your employer
  • you were told your loan or credit application was more likely to be accepted if you bought PPI
  • PPI was added without telling you
  • you were advised to buy PPI that did not suit your circumstances or needs
  • you were self-employed, unemployed or retired but advised to buy PPI
  • you had a pre-existing medical condition at the time of buying PPI, which may have affected your ability to make an insurance claim
  • you were advised that a pre-existing medical condition was included in your PPI policy (or advised that it wasn’t included)
  • it was not made clear that you would pay interest on the PPI if it was added to your loan
  • it was not made clear that the PPI would end before the loan or credit was repaid
  • the amount of commission paid on the sale was not revealed at the time

Start Free PPI Check**

To get started either fill in your details on our website or call us on 0800 862 0331 and speak to one of our friendly, knowledgeable advisors who will guide you through the process.

**Free Check with our claims service. Check is lender specific.

How was PPI mis-sold?

If you took out a loan, credit card or mortgage with Royal Bank of Scotland, it is likely you were mis-sold PPI if you experienced any of the following:

  • you were pressured into buying PPI or told you must have PPI
  • you were promised a cheaper rate if you bought PPI
  • you were already covered by another policy
  • you received full sick pay from your employer
  • you were told your loan or credit application was more likely to be accepted if you bought PPI
  • PPI was added without telling you
  • you were advised to buy PPI that did not suit your circumstances or needs
  • you were self-employed, unemployed or retired but advised to buy PPI
  • you had a pre-existing medical condition at the time of buying PPI, which may have affected your ability to make an insurance claim
  • you were advised that a pre-existing medical condition was included in your PPI policy (or advised that it wasn’t included)
  • it was not made clear that you would pay interest on the PPI if it was added to your loan
  • it was not made clear that the PPI would end before the loan or credit was repaid
  • the amount of commission paid on the sale was not revealed at the time

Start Free PPI Check**

To get started either fill in your details on our website or call us on 0800 862 0331 and speak to one of our friendly, knowledgeable advisors who will guide you through the process.

**Free Check with our claims service. Check is lender specific.

Ready to start your PPI check?

Hit the button below or call us now on
0800 862 0361

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