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PREVIOUSLY HAD PPI?

Claim Natwest Bank Plevin PPI compensation

If you have ever had a loan, credit card or mortgage from Natwest you may be able to claim Plevin PPI compensation, even if you’ve had a PPI claim rejected in the past.

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What is Natwest payment protection insurance?

Natwest is one of the ‘big four’ UK banks external link icon light blue serving more than 12.5 million customers across England and Wales. In addition to its financial products and services, the firm provides businesses with specialist sector knowledge in a range of sectors including manufacturing and technology, as well as access to specialist entrepreneurial support.

PPI was sold by Natwest and for some customers there may still be an opportunity to reclaim compensation as a result of mis-selling. PPI single premium policies have been banned since 2009 external link icon light blue, however It is estimated that a whopping 64 million PPI policies were sold nationwide by banks and other financial product providers with the majority selling between 1990 and 2010.

Customers who were mis sold PPI and able to pursue a reclaim from their seller may have been unaware that they had opted in, misled about their need for PPI or ill informed about the policy.

Credit cards, loans and even store cards were some of the most popular financial products sold across the country by banks with the addition of an opt-in PPI policy.

Such payment protection insurance was an optional extra sold to offer peace of mind in the form of added financial security with purchases.

When a customer chose to purchase PPI, this extra was often heavily promoted due to the fact that the brokers, sales reps, and banks selling, were heavily financially incentivized through commissions.

What is a Natwest Plevin PPI claim?

Over three years ago, the deadline to make a PPI claim lapsed. If you had grounds for a PPI claim after August 2019, you would be unable to pursue it as a result of the deadline.

However, despite the initial deadline, a landscape-changing court case that took place at the Supreme Court, made way for a new route for potential PPI claims.

The distinctive Plevin PPI name comes from the case of Mrs. Susan Plevin, a lady who objected to being unable to claim against her own PPI purchase. The court ruling in her favour highlighted that “an undisclosed commission on PPI could result in an unfair relationship between the lender and consumer under the Consumer Credit Act 197”

The court ruling opened up new criteria for a specific set of claims that focused entirely on the nature of significant hidden fees and as a result, more Plevin cases came through from across the UK.

The Plevin case created an opportunity for customers to access refunds solely based on the secrecy of the fees brokers, banks, and lenders made on behalf of a client.

To be eligible for a Plevin PPI claim, a customer should be able to show that substantial amounts of hidden commissions were earnt as a result of their agreement.

Rejected Natwest PPI Claims

Despite the August 2019 deadline, there are potentially thousands of customers who missed out on a PPI claim who could still be eligible for a refund despite an initial rejection. For example, if the previous claim failed to include the former criteria for success, there could now be grounds under the revised and newer Plevin criteria.

If you have already submitted a payment protection insurance claim under the old mis-selling criteria, you may still have a Plevin case you could win.

It is important to note that the distinguishing feature between the two compensation processes is that the Plevin cases only need to have included an undisclosed commission. In the past, PPI refund customers needed to prove mis-selling of the product itself which was more complex to do.

How to claim Plevin PPI from Natwest

If you still aren’t sure whether or not you may have a Plevin PPI case from Natwest or any other business, the following circumstances should provide some insight. If you find your policy meets any of the following criteria, it is certainly worth enquiring.

You have already filed a claim and it has been rejected (you may have a new one in light of the Plevin case)

If you bought your PPI after the 6th of April 2007 this could also be an option.

If you bought your PPI before the 6th of April 2007 and it is still ‘open’ after the 6th of April 2008 you should explore the possibility of both a refund and compensation.

It is currently believed that over a million people from across the UK may fall under the criteria of the Plevin ruling and could be due refunds and compensation.

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