If you have taken out a loan, credit card, overdraft, mortgage or any other agreement with Nationwide, you may be eligible for compensation. PPI customers are claiming billions of pounds from banks and lenders across the country. Here’s how.
Some background on the PPI saga
Payment Protection Insurance has been sold to millions of customers over the last decade as a buffer against failing to meet repayments if something goes wrong. Since the regulator began investigating the sales techniques used by the banks, a major scandal has been uncovered. Lenders have frequently mis-sold PPI on top of credit to customers who did not need it, sometimes without their knowledge or a full explanation of the costs involved. Many customers have also paid for PPI without even meeting the eligibility conditions for their policy to be valid.
What to do if you’re a Nationwide customer
Nationwide has now stopped selling PPI completely, but you may still be able to claim on a policy that is current, or on one you took out in the past.
The Financial Services Authority has been backed by the High Court in forcing banks to review the way in which they assess claims for PPI, and recommendations have been made for banks to contact customers to inform them of their rights.
Even if you have not received a letter, you may still be eligible for compensation. If you have a credit agreement with Nationwide you can check your status.