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Reclaim PPI against Ulster Bank

Reclaim PPI against Ulster Bank

As part of the RBS Group, Ulster Bank in Northern Ireland sold PPI on loans, credit cards and mortgages in absolutely industrial amounts.

The whole RBS Group that includes Ulster Bank have a long history of misleading customers by providing inaccurate information about PPI paid on accounts. Beat the Banks will find out the absolute truth. We continue to campaign to the FCA against these unfair and misleading practices.

If you paid PPI on a joint loan with Ulster Bank, but were the second named party to the borrowing and have been declined your share of the redress, Beat the Banks will recover the compensation that is rightfully yours.

Like other members of the RBS group, Ulster Bank branches were heavily targeted to sell Payment Protection Insurance. Aggressive sales practices were the norm. It was all about points meaning prizes. Literally in some cases. We call that period the Wild West of Banking!

If you think you have been sold PPI on a loan, credit card or mortgage with Ulster Bank, the team at Beat the Banks are here to help.

Not having the records normally puts people off claiming, but that’s where our expertise comes in. If you still bank with them now or did up to 12 years ago, we can normally recover ALL your borrowing paperwork back as far as 1995.

The Facts

With personal loans, it was a lump sum policy added to the borrowing from the outset. The cover was hugely expensive in its own right (the commission for Ulster Bank could be as high as 70%) and policies sold this way, meant the borrower paying interest on the insurance premium too.

From the outset of being to reclaim for mis-sold PPI, Ulster Bank has had a policy of only releasing loan records and paying compensation to the first named applicant on the loan agreement. The Ulster Bank argument is that they were the insured party and not the second applicant. This is a legally flawed, as the borrowing formed a joint several lending contracts. It’s a policy that has unfortunately deprived women the right to compensation, that otherwise is rightfully due to them.

If this sounds like a familiar story for you, Beat the Banks have challenged and won many similar cases within the Royal Bank Group of which Ulster Bank is a member. It has meant that in cases where the bank has already paid full compensation to the policyholder, we have subsequently been able to secure the second applicant’s half share to the compensation, plus additional penalty interest on top. In no way has this had any effect on the compensation previously paid to the first named party to the loan.

When it came to Payment Protection Insurance on credit cards, the cover was also incredibly expensive. Typically charged by all mainstream banks at around 75p per £100 of balance it meant that the cost of PPI a balance of £10,000 would have cost £60. Normally this would have protected a notional payment of 5% of the balance or in this example, £500. Commission earned by Ulster Bank on credit card PPI has been enormous. The cost equates to around double the price of similar monthly payment on a mortgage. On top interest rates tended to be much higher than personal loans too. All in all, it means that for successful claims for mis-sold PPI on Ulster Bank credit cards, the compensation can often be substantial.

Ulster Bank mortgage customers didn’t escape lightly either. Payment Protection Insurance or Accident Sickness and Unemployment Insurance as it was also called, was a hard sell too. If the bank’s mortgage advisor didn’t sell you any add-ons, that was close to a criminal offense in the eyes of senior management. Priced out at around £7 per £100 of your monthly mortgage payment, it wasn’t cheap either. Target setting meant that it was all about the number of mortgage products they could sell you. If you have an Aviva (formerly Royal Scottish Life Insurance policy) you are likely to be paying substantially more for your cover than you need to. Ask us why!

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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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