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    • vebram
    • By vebram 22nd Sep 16, 10:10 AM
    • 5Posts
    • 0Thanks
    vebram
    New claim opportunity against Abbey
    • #1
    • 22nd Sep 16, 10:10 AM
    New claim opportunity against Abbey 22nd Sep 16 at 10:10 AM
    Does anyone have any information about this?

    I have been contacted by Claim Lion Law because I have had an abbey national mortgage in the past.

    They say it is a new opportunity as a result of a Supreme Court judgement (Plevin v paragon finance limited [2014] uksc61) and that it is now possible to re-submit claims for compensation.

    They offer to do it for 30% and I would prefer to follow it up myself.

    My question is whether I use Martin's standard template or extra wording is needed?

    Thank you in advance of any responses.
Page 1
    • -taff
    • By -taff 22nd Sep 16, 10:21 AM
    • 6,187 Posts
    • 3,359 Thanks
    -taff
    • #2
    • 22nd Sep 16, 10:21 AM
    • #2
    • 22nd Sep 16, 10:21 AM
    It's lies.
    Search this forum for Plevin and see how many other companies use this rubbish to lure people in.
    • dunstonh
    • By dunstonh 22nd Sep 16, 11:24 AM
    • 84,121 Posts
    • 49,104 Thanks
    dunstonh
    • #3
    • 22nd Sep 16, 11:24 AM
    • #3
    • 22nd Sep 16, 11:24 AM
    They say it is a new opportunity as a result of a Supreme Court judgement (Plevin v paragon finance limited [2014] uksc61) and that it is now possible to re-submit claims for compensation.
    Not quite.

    Plevin is an issue and the FCA is in consulation about it and current positioning is that where a commission is over 50% of the premium paid, the firm has to refund the excess above 50%.

    However, there are some issues:
    1 - if your complaint has already been upheld and paid out, then Plevin does not apply. Plevin only applies to rejected complaints.
    2 - it only applies where commission was above 50%. This tends to only be on single premium PPI. Not monthly premium MPPI (Which was typically around 32%).

    Abbey never sold single premium MPPI. So, Plevin will not apply to it.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • vebram
    • By vebram 22nd Sep 16, 12:38 PM
    • 5 Posts
    • 0 Thanks
    vebram
    • #4
    • 22nd Sep 16, 12:38 PM
    • #4
    • 22nd Sep 16, 12:38 PM
    Thanks very much, I can happily bin this now.
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