Northern Rock was involved in the PPI scandal. If you are or were a Northern Rock customer, you could be owed money.
Northern Rock PPI compensation is due to thousands of customers and it’s not too late to make a claim. The upcoming PPI deadline of August 2019 means you need to act soon in order to reclaim your money. It has been put in place to get more people actively complaining, rather than putting it off.
Since 2011, the banks have paid more than £27 billion to refund customers for misselling PPI. The banks have suffered immensely because of the scandal and even now are putting aside more money to cover the claims.
The PPI misselling scandal has affected thousands of bank customers in the UK. Customers were sold PPI without their knowledge, or pressured into buying the insurance alongside products such as loans, mortgages and credit cards.
Canary Claims is the very best PPI claims company at helping customers make a complaint to Northern Rock. We handle all communication with the bank and try to reclaim any money you might be owed. Looking for more information on how to claim back PPI from Northern Rock? Well, look no further: here’s a guide to everything you need to know about Northern Rock PPI.
The Financial History of Northern Rock
Northern Rock has a whole page dedicated to its newsworthy activity on Money Saving Expert. This is due to the fact that in the past ten years, the bank has encountered numerous financial problems.
After the financial crisis in 2007, Northern Rock struggled to recover. Their pre-tax loss was over £167 million and, in order to continue working, they were bought out by the government. In 2011, Virgin Money then bought Northern Rock from the government, with Richard Branson vowing to improve British banking by taking control and launching savings accounts.
Can I still make a Northern Rock PPI Claim?
Despite the bank being bought out, it is still possible for you to make a PPI claim. However, many people have found it difficult to know who to contact. As the best PPI claims company, we know who to contact and how to make a claim.
Despite Northern Rock being bought by Virgin Money, complaints are being handled by NRAM. This company is owned by the government and deals with customers who have outstanding accounts with Northern Rock.
Northern Rock PPI was sold alongside mortgages and loans. If you bought either of these products from Northern Rock, you could be owed compensation. Check previous statements to see if any extra insurance is listed; it might be labelled as something other than payment protection insurance. Even if you can’t find your previous statements, all is not lost if you work with Canary Claims.
How Can I Make a PPI Claim Against Northern Rock?
Making a PPI claim against Northern Rock is very simple. Canary Claims can contact NRAM and deal with all communication on your behalf. If you are unsure if you were sold PPI, we are also able to obtain this information for you.
A claim can take three or four months, but with the newly imposed deadline, the banks may take longer to respond to claims. We will keep you informed every step of the way, so you know exactly what is happening with your claim.
The average payout is £3000, meaning it’s absolutely worthwhile to make a claim. With two years remaining before the PPI cut-off date, why put it off any longer?
Make your Northern Rock PPI claim today with Canary Claims. As the best PPI claims company, we offer a no win no fee policy and one of the lowest rates of only 15% + VAT.