We believe everyone deserves access to professional legal representation, regardless of their financial position, background or location. Barings Law’s specialists offer a high standard of legal assistance for personal and corporate customers and our technology makes it quick and simple for you to make your compensation claim. Take a look at what we can do for you and your business:
The mis-selling of Personal Contract Purchase (PCP) packages for motorists has come in for scrutiny in recent years. It has been discovered that the vast majority of customers were being mis-sold vehicle finance agreements. These mainly occur because the broker or dealer was paid undisclosed commission or lenders’ credit checks on customers were either inadequate or, in some cases, non-existent.
When lenders fall short in their obligations to their customers, to be open and honest with them and to ensure that they are able to make informed decisions on their vehicle finance packages, they are guilty of mis-selling. Mis-selling in the case of PCP agreements can take many forms. These include customers being heavily pressured into the deal, borrowing more money than was necessary or being sold a mileage estimation that was too low for their needs.
And if the dealer did not make it clear that their customer doesn’t own the car until the fixed term has ended and the final ‘balloon payment’ has been made then they have mis-sold the finance deal.
The vast majority of banks, mortgage companies and credit providers have miscalculated the Payment Protection Insurance (PPI) redress payments they have paid to their customers in refunds.
Customers who have been overcharged on their loans, mortgages and other credit packages have received full refunds on their PPI policies. But, while ‘Plevin’ redress cases lead to the borrower being refunded the commission they were unknowingly charged on top of their PPI payments, there are also cases involving those refunds being mis-calculated.
Payment Protection Insurance refunds should return the customer to the financial position they would have been in had they not taken out the policy. Numerous lenders have mis-calculated these refunds and, if this has happened to you, you need to take action.
If you used a broker or intermediary to find the best deal for your firm’s energy supply, think about whether you have been a victim of mis-selling.
Your broker may have signed you up to a contract that earned them the highest commission, rather than recommending the best available deal for you.
Around three-quarters of UK firms have used a broker to find them a good deal on their energy supply, and claims recovering money for those businesses have, in some cases, run into tens of thousands of pounds.
If your broker did not act with full transparency and honesty throughout the purchase of your business energy deal, including telling you how they were paid for their services, that could be a case of mis-selling.
Think back to a time you bought a financial product or service and you enlisted the help of a broker or intermediary. If they failed to tell you about the existence and the value of the commission they earned for their services then you have a case for claiming compensation.
In our experience, many customers have had their brokers’ commission added to their repayments without their knowledge.
There have also been instances in which an intermediary’s impartiality can be called into question due to them recommending a product that earned them the best commission.
If, for any reason, undisclosed commission is added to a customer’s loan or mortgage that is a clear case of an unfair relationship being created.
Thousands of small-to-medium-sized enterprises (SMEs) whose ability to trade was drastically affected during the pandemic found that their insurers were refusing to pay out on business interruption claims made due to COVID. We are helping businesses to recover the revenue they lost through their inability to trade as normal. These claims can be worth thousands of pounds and could make a vital difference to smaller businesses as they struggle to stay afloat in these trying times.
A test case – based on a representative sample of business interruption policy wordings – brought by the Financial Conduct Authority (FCA) led to a Supreme Court judgement that not only found in favour of UK businesses but also provided greater clarity for policyholders.
If you bought or paid into – or transferred your pension provision to – a Self Invested Personal Pension (SIPP) scheme, and feel you weren’t given all the information you needed to make an informed decision, you may be the victim of mis-selling.
Some financial advisors have been promising pension holders high returns on very risky investments, often ones which are unregulated.
Customers investing in SIPPs may not have had the risks adequately explained to them and may not have been told about other investment opportunities.
Any instance in which your advisor – an expert in their field – gave you poor advice, neglected to give you all the information, or was unclear in the advice they gave you should make you eligible to make a claim for a mis-sold pension investment.
Numerous car manufacturers have installed software in their diesel vehicles that detects when they are undergoing emissions testing.
These ‘defeat devices’ sense when testing is under way and adjust the vehicle’s emissions accordingly, in order to pass CO2 emission limits. Away from testing, the vehicle reverts to its ‘real world’ performance, with emissions reaching up to 40 times the permitted levels of carbon dioxide pollutants.
And millions of motorists – led to believe that diesel cars were more economical and better for the environment – were outraged by the vehicle makers’ tampering.
Feeling duped, customers began lodging complaints.
And Volkswagen reacted by deciding to pay out nearly £200million to settle a High Court claim. While the firm’s bosses accept no guilt over their use of ‘defeat devices’ they, and numerous others, have a case to answer, with thousands of customers believing they have been misled.
If you bought, or leased, a diesel car between 2009 and 2020 you may have a case for claiming compensation.