Midland Bank is no longer the odds on favourite for the HSBC re-brand when the retail and investment divisions split under new banking regulations.
Chief executive Stuart Gulliver had previously floated the Midland name because that was the name of the bank HSBC took over when they moved their base of operations from Hong Kong to London in in 1992. It was phased out in 1999.Read More
You’ve probably heard about PPI. Whether you’ve already claimed some back, or are wondering if you might be owed money, here are our top ten things you need to know about PPI.
1. What does PPI stand for?
PPI means ‘Payment Protection Insurance’ – a type of insurance that would help people if they struggled to pay back loans. It was sold alongside loans, mortgages, credit cards and other financial agreements.
2. Why can I claim it back?
Banks, building societies and other financial institutions failed to follow the guidelines set up by the City watchdog. Thousands of people were sold PPI who didn’t want it, need it or even know they were paying for it.
3. How do I know if I have a claim?
The easiest way to know is if PPI is listed on your bank, loan or credit card statements as a separate charge. In other cases, PPI was charged up-front. If you’re unsure, call one of our advisors on 08000 461 826.
4. How do I start my claim?
By getting in touch with us via our website, over the phone or by requesting a postal form. All banks have a free complaints service so you can lodge a complaint on your own behalf.
5. How long does a claim take?
Banks are required to deal with your claim within 8-16 weeks of acknowledging receipt of your complaint. If they can’t handle your case in this time, we will liaise with relevant authorities to reach a swift settlement to your claim.
6. How will this affect my relationship with my bank?
If you’re lender has mis-sold you PPI, you are fully entitled to claim it back. Banks have acknowledged that they broke guidelines and will not put any sort of ‘black mark’ on your relationship with them. We’ve successfully recovered PPI from all the big banks, including Lloyds, TSB, Barclays, Halifax and HFC.
7. How much money have Gladstone Brookes reclaimed for customers?
So far, we have helped our happy customers to claim back £555 million from banks and building societies.
8. How much PPI has been mis-sold?
The Financial Conduct Authority (FCA) estimates a total of £20.5bn has been reclaimed so far, and that billions more could yet be recovered.
9. How much does it cost to start my claim?
We work on a “no win, no fee†” basis, so making your claim never costs you any initial costs. If we successfully recover money for you, we take a percentage to cover our fees.
10. I’ve already made a successful PPI claim; can I make another one?
You’re entitled to claim back all mis-sold PPI, across different loans, credit cards and mortgages. If you’ve already reclaimed for one loan, but think you might be owed PPI on another, you can claim for that one separately. You can’t claim twice on the same loan, however.
Jill Holt (second right) hands over the cheque to PDVS chief executive Valerie Wise (second left) flanked by staff members Sufiya Valli (left) and Tahera Bukhari (right)
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But the figures surrounding domestic violence are staggering.Read More
Britain’s banks and building societies granted more mortgages in July than any other time in the last 18 months, according to new figures from the British Bankers’ Association (BBA).
Approvals rose from 44,802 in June to 46,033 in July – 11% up year on year – and re-mortgaging rose by 30% to its highest level for four years.Read More
Lloyds Bank could be re-privatised by the end of 2015 says Chancellor George Osborne.
He was speaking after the government reduced its stake in the bank to less than 13% by selling off a further 1% of its holding, valued at around £500 million, to institutional investors.Read More
Support worker Susan Britton had heard all about PPI being mis-sold over the years, but didn’t think it applied to her.
“But that was before I got a letter from Lloyds Bank to tell me that I had PPI attached to a number of loans I’ve held over the years,” she said.Read More
Hairdresser Caroline Cobb wasn’t sure whether or not PPI had been attached to any of the loans and credit cards she had in the past, but when she saw the Gladstone Brookes TV advert and realised the service was no win no fee she decided to call and find out if she was owed anything.
“No win no fee? I had nothing to lose and I would never have done it on my own because I hadn’t a clue where to start. I’m a hairdresser and I’m a great believer in letting people do what they’re best at,” she said.Read More