Reclaim PPI against Ulster Bank
There was a time when Ulster Bank was seen by its customers in Northern Ireland as a trusted financial institution. There were branches all over the province, often staffed by people that the customers knew, and the managers could be relied upon for advice and guidance through the sometimes tricky waters of money management. Those were the days, as they say.
Ulster Bank began life back in 1830s Belfast, and these days it comes under the Royal Bank of Scotland Group. Like many other companies that are part of RBS, it became actively involved in the ever more aggressive selling of Payment Protection Insurance during the lending boom. Policies were sold on an industrial scale during this period, bringing in huge profits for the credit provider.
If you had a loan, a mortgage or a credit card from Ulster Bank at that time, there is every chance that it came with a PPI policy added in. Sales teams in branches, online and on the phones were offered heavy incentives to sell to customers, whether or not that policy was of any use to them. The trust and reliability we got from the banking sector up until then was fast disappearing.
The race to secure yet more profit on their financial products led to a great deal of mis-selling. The commission on PPI selling on personal loans was sometimes as high as 70%, so it’s easy to see why the banks, building societies and other credit providers got greedier and greedier. And if the policy was of no use to the consumer, they rarely seemed to care.
Well, they all care now, of course. The banking industry has had to set aside billions of pounds in order to pay the inevitable compensation claims that their tactics were responsible for. Here at Beat the Banks, we have come across countless instances of banks and other financial institutions doing all they can to divert us in our search for justice, but we remain dogged and determined to bring justice to our clients.