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Reclaim Mis Sold PPI Against Northern Rock

Reclaim Mis Sold PPI Against Northern Rock

Originally a building society that was founded in Newcastle-upon-Tyne back in the 19th century, Northern Rock became a bank in 1997 and embarked on a programme of rapid growth based around extensive lending. They offered loans, mortgages and credit cards, and as the lending boom developed they used ever more aggressive tactics to sell PPI policies as well.

Northern Rock became one of the most high profile victims of the global banking crisis of the late 2000s, and only remained in business because of government help. It became publicly owned until the 2010s, during which time parts of it were sold off to the likes of Virgin Money and Cerberus Capital Management. These days, it’s often thought of as a byword for financial mismanagement.

If you had a loan, a mortgage or a credit card with Northern Rock, there’s a strong possibility that a PPI policy was attached to it. It’s so easy to find out if you had PPI at all, because a phone call to Beat the Banks on 0800 193 1234 is all it takes. And it’s worth noting that time is running out, because the deadline for making compensation claims for mis-sold PPI is fast approaching.

Northern Rock’s ambitious borrowing programme included mortgages which represented 125% of a property’s value. While some saw this as a sound tactic at the time, others viewed it as a gamble. In the end, it was a gamble that didn’t pay off, and when the financial downturn started to take effect the company was left with debts that it struggled to pay off.

During the lending boom, Northern Rock was determined to expand, and they saw PPI as a way to bring in easy profits. The product itself was simple to sell because it was offered on a one size fits all basis. Sales teams required very little training, enabling the company to keep costs down. All that was left for them to do was sit back and wait for the money to come in.

Like many other major financial players at the time, Northern Rock encouraged an aggressive sales culture in its branches and its telesales operations. Pushing PPI onto customers brought with it significant financial rewards, and there was very little care given to whether their customers actually wanted or needed such policies in the first place.

In a huge number of instances, the PPI policy itself was of little or no use to the consumer. What little cover there was often turned out to be not applicable to the policy holders, which meant they had been paying monthly premiums for little more than a bucket of fresh air. It was surely morally wrong to push such products, but at the time the industry saw it as completely acceptable.

Beat the Banks have carried out a number of investigations into the way Northern Rock and others mis-sold PPI, and we continue to fight an injustice that should never have been allowed to happen. The UK’s banks, building societies and credit providers have set aside billions of pounds in order to settle PPI claims, an indicator of just how much wrong-doing took place.

Our friendly and knowledgeable team features a number of specialists who have many years of experience working in the financial sector, and this puts us in the best position to tackle those who treated their former customers so shabbily. We always go the extra mile when mounting cases, and we’d like to do the same for you.

Just call Beat the Banks today on 0800 193 1234 and we can take things from there. It’s that simple, and we hope to hear from you soon.

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  • Mrs C, Glasgow

    “From beginning to end, Beat the Banks have been very efficient. I am very pleased with the service from Jenna and the team. I am highly delighted and I have been recommending all of my friends.”

  • Shona, Dundee

    “Huge thank you to the team. After attempting to claim PPI myself and getting absolutely nowhere, I got Beat the Banks involved and ended up getting  £12,000. What a result. Beat the Banks made it so easy and were committed right to the end.”

  • Mr A McQuillian

    “From previous experience of PPI claim companies, I was a bit dubious if anyone could help me but I thought I would try Beat The Banks. To say I am pleased with the service and conclusion to my claim is an understatement. Beat the banks and my claim handler in particular handled all aspects of the claim from Clydesdale Bank with professionalism, courtesy, and efficiency to secure a positive result on my behalf. I would certainly recommend the services of Beat the Banks to anyone who thinks they have PPI claim, especially with the Clydesdale Bank.”

  • Mrs S, Falkirk

    “I was apprehensive about using a company to claim my PPI as I had previously responded to a “cold call” and was pestered with calls. I heard about Beat The Banks on a local radio station and because they were based in Scotland I felt comfortable approaching them. I have had a very positive experience with Beat The Banks. They are not pushy and answer any queries timeously. All the Agents I have spoken to were knowledgeable, polite and friendly. After the initial information gathering conversation, they understood my needs and just got on with my claim. No hassle. Even when it was clear that my claim was of a relatively low value they processed without delay. I would definitely recommend using Beat The Banks …. they put all the other companies out there to shame.”

  • T & A, Dundee

    “Down entirely to Mike’s hard work, we previously had a successful claim with Clydesdale Bank. Mike was convinced we had more loans with PPI and he was relentless in efforts to recover our paperwork from the bank. Finally, after many attempts, enough records were recovered to submit several claims. We have now received much more compensation, covering loans going back many, many years. If it had not been for Mike and the team at Beat the Banks this would never, ever have happened. Literally, all we did was sign our name and bank the cheque.”

  • Mrs S, Falkirk

    “I was apprehensive about using a company to claim my PPI as I had previously responded to a “cold call” and was pestered with calls. I heard about Beat The Banks on a local radio station and because they were based in Scotland I felt comfortable approaching them. I have had a very positive experience with Beat The Banks. They are not pushy and answer any queries timeously. All the Agents I have spoken to were knowledgeable, polite and friendly. After the initial information gathering conversation, they understood my needs and just got on with my claim. No hassle. Even when it was clear that my claim was of a relatively low value they processed without delay. I would definitely recommend using Beat The Banks …. they put all the other companies out there to shame.”

  • Mr & Mrs M, Shetland

    “We really appreciate the doggedness and professionalism of Jenna and the team at Beat the Banks. This is something we’d never have gotten round to doing and we’re so glad we went through the process with professionals as we’ve now had great results. Only positives have come from the experience.”

  • Mrs S, Falkirk

    “Excellent service so helpful, I received a substantial sum back that I had no idea I was due, thank you again to Beat The Banks especially to Gary who was so helpful and efficient in every way.”

  • Dave & Linda , Dundee

    “We had no paperwork but £52,500 reasons to say thank you, we are now living our Spanish dream! Exceptional service.”

  • Mr S, Dingwall

    “Have just found out I have won all my cases with the bank, going back many years and been awarded compensation of just over £15,000!”

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