PPI+

Are you eligible for
a PPI+ claim?

Have you ever taken out a loan or credit agreement? If so, it is likely that you were sold PPI too. PPI was sold with mortgages, loans and credit cards to cover the event that you could not repay.

However, in some cases, PPI was mis-sold as it was provided to people who did not match the qualifying criteria or added without the customer’s knowledge.

If you think you were mis-sold PPI, you may be eligible to claim for your PPI payments, as well as additional compensation due to the commission your PPI provider took.

How does additional compensation work?

In 2014 a new type of PPI mis-selling emerged: Unfair Contractual Relationships, also known as Plevin or PPI+ as we like to call it. Susan Plevin is a retired college lecturer who took legal action against Paragon Personal Finance after she had PPI added to a loan.

During her claim for mis-sold PPI, she also discovered that 71.8 percent of her PPI premium was taken as commission by the PPI provider, Paragon’s credit broker and Paragon itself. Susan Plevin argued that Paragon’s failure to disclose this commission amounted to an unfair contractual relationship and therefore she should be eligible for significant levels of compensation. The Supreme Court ruled in Plevin’s favour.

The FCA subsequently published guidance that if a lender or broker paid commission that amounted to over 50 percent of a PPI premium, this would constitute an unfair contractual relationship.

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50%+

The level of commission deemed
unfair by the Financial Conduct Authority

67%

The average commission paid
by lenders to brokers.

£1,000+

The average amount our team
can help you secure in compensation.

pelvin claim

Are you eligible to make
a PPI+ claim?

You might be eligible for extra compensation if any of the below applies to you, even if you have already claimed PPI or had a PPI claim dismissed:

  • High Commission Levels
    Is your provider, broker or finance company earning more than a 50% commission on your PPI policy sale?
  • Undisclosed Commission
    Were you unaware of the commission being paid on your policy at the time of purchase, even if you were aware of the PPI itself?

If any of these scenarios ring true then you could be eligible to make a claim and could be eligible to make a claim. Get in touch via our contact form or give our qualified solicitors a call to tell us more about your situation and get legal support.