Sharing Financial Claims expertise and processes

The members of the Professional Financial Claims Association have experience and knowledge in a wide range of financial claims types. This follows years of investment in understanding the financial product which was mis-sold, the obligations of the adviser, how it was mis-sold and the structure and values of compensation due to the claimant. Expertise and processes have been established, these can be shared with the wider financial claims sector to ensure that a uniform and robust presentation of financial claims ensures consumers have access to justice.

Payment Protection Insurance (PPI) continues to dominate the news

The growth of Financial Claims Management Companies

The complexity of financial claims

What is an Endowment Mortgage?

This is an interest-only mortgage linked to an investment product. Most consumers who bought one were told that the policy would eventually pay off the mortgage at the end of its term and provide an additional lump sum.

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Mis-sold Interest Rate Swaps

In 2012, the FSA carried out a review into the sale of Interest Rate Hedging Products (IRHP’s) to small and medium sized businesses; from this review the FSA found ‘serious failings.

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What are Savings & Investments?

When relating to finance, these give a return for monies invested at a set or variable rate for an agreed period of time with the expectation of capital appreciation. There are a variety of savings and investment products available to consumers.

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Mis-sold Mortgages

The mortgage industry has seen a great deal of change over the last 20 years and remains an important and influencing sector within the UK economy.

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Mis-sold Pension Transfers

On 5 December 2008, the Financial Services Authority (FSA) published their results from the Pension Switching Review. They reviewed 500 files from 30 adviser firms and found 16% of files contained unsuitable advice.

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What is Payment Protection Insurance (PPI)?

Payment Protection Insurance (PPI) is a financial insurance product that is designed to cover mortgage, credit card, loans or other debt repayments if the policy holder is unable to make repayments in certain circumstances.

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What is a Whole of Life Policy?

Whole of Life policies are designed to pay a sum of money to a consumer’s family on their death. With the most common types of policy – reviewable – the consumer chooses that sum, pays regular monthly premiums, part of which are used to build an investment fund.

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Mis-sold Packaged Bank Account

A Packaged Bank Account – sometimes called a “paid-for account” – is a bank account when the bank usually charges a monthly fee in return for a range of insurance and non-insurance based benefits such as travel insurance…

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