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Reclaim PPI On Secured Loans

Reclaim PPI On Secured Loans

There was a time when secured loans were extremely popular with UK borrowers, but it should be noted they were even more popular with the lenders. These loans usually came with a hefty PPI policy attached, despite the fact that the policy itself was often of little or no use to the customer at all. The lenders didn’t seem to care about a mere detail like this, however.

Secured loans were often aimed at people with poor credit records, people who perhaps shouldn’t have been offered loans like this in the first place. Lenders such as First Plus, Paragon, Southern Pacific and London & Scottish were more than happy to sell their loans, in part because they were often secured on a property via what was known as a ‘second charge’.

One of the more distasteful aspects of PPI policies sold alongside secured loans was the fact that cover was so limited. In many instances, that cover only applied to the first five years of the loan, for example, even if the loan was to last for ten years or more. If you fell ill during year six, the chances are you would have had virtually no protection at all.

These days, we’ve become almost anaesthetised to the somewhat underhand tactics that were used to sell PPI, but this still shouldn’t detract from the need to seek justice. Compensation claims against organisations that sold PPI so unscrupulously are 100% justifiable, so if you had a secured loan from anyone during the lending boom you should be asking one or two questions.

Let Beat the Banks do all the hard work for you

Thankfully, Beat the Banks can ask those questions on your behalf, so you don’t have to do much to start the ball rolling. Our specialists have all the knowledge, and the experience and all the tenacity needed to mount a strong claim for PPI compensation, and it will only take a few minutes of your time to begin the process. Just call 0800 193 1234 to find out more.

Most other claims management companies will only seek the briefest history of your secured loan before claiming, but we at Beat the Banks always seek to go the extra mile. We know that the most robust cases will include the full history of the transaction, and that’s why we are as thorough as we can be. You might only get one chance to make a claim, so you want it to be a good one.

Cases of mis-sold PPI in relation to secured loans are usually more complex than those associated with credit cards and bank loans, but this doesn’t deter us. Our team often have to go through mountains of paperwork to get to the truth, and that’s just how we like it. The PPI deadline day is closing in now, so it’s important to start the search for justice as soon as possible.

We hope to be hearing from you soon on 0800 193 1234.

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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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