Mis-sold Financial Advice

If your bank or another financial company sold you a product that wasn’t suitable for you, you might get compensation if you make a complaint.

Mis-selling means that you were given unsuitable advice, the risks were not explained to you or you were not given the information you needed and ended up with a product that isn’t right for you.

Payment protection insurance (PPI) mis-selling examples

There are many ways you might have been mis-sold PPI.

Here are some of the most common:

  • you were pressured into buying the PPI
  • you weren’t told about exclusions to the policy
  • you weren’t told that you could buy PPI from another company
  • you were unemployed or retired when you were sold the PPI
  • you were told that PPI was compulsory and that you had to take it out

 

Mis-sold mortgage examples (including endowments)

Some ways you might have been mis-sold a mortgage:

  • your mortgage end date is after your retirement date
  • you weren’t told about the commission the adviser would receive from the lender
  • you were advised to self-certify (borrow money without proving your income) or overstate your income in order to borrow more
  • you were advised to switch lenders and weren’t told about the fees and penalties

 

Mis-sold investment examples

Some ways you might have been mis-sold your investment:

  • you weren’t told about the risk involved
  • you weren’t told how your money would be invested
  • the product didn’t suit your needs or attitude to risk that you discussed with the adviser.

Could you have been mis-sold financial products? It costs nothing to find out so call today on 01942 619911 and speak to one of our advisers.

 

Posted on by CCKeith in Uncategorized

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