The Payment Protection Insurance mis-selling scandal has engulfed all sections of the financial services industry. Payment Protection Insurance, more commonly known as'PPI', was mis-sold alongside various financial products, including credit cards, car and home insurance, car finance and home shopping credit.

Many claims for refunds of PPI will be in relation to relatively low credit card debts or small personal loans. Since PPI tends to be calculated as a percentage of the overall debt, the amount of any PPI refund in such cases will be relatively small. For example, a £3,000 loan repayable over two years is likely to result in a refund in the region of £400 to £800.

However, PPI mis-selling was equally rife in the fields of large personal loans and second charge mortgages. Some loans in this sector will be in the region of £100,000. The amount of any PPI refund in such cases is likely to be substantial. For example, Picture Loans recently refunded over £34,000 in mis-sold PPI premiums on a loan for £100,000. Such sums of money are likely to have a significant impact on the lifestyle of the majority of people.

People with relatively small loans or credit card debts frequently opt to take on their lender alone. If they win, it is a happy bonus. If they lose, at least no life-changing sum of money was involved. You will see that, elsewhere on our website, we have provided a free downloadable Complaint Guide to assist those people wishing to represent themselves. Of course, some people with relatively small claims will still prefer to have full legal representation if they do not feel they have the time or wish to avoid the stress of acting alone.

However, if you have taken out a large personal loan, second charge mortgage or potentially even a first charge mortgage, you should consider very carefully whether you want to represent yourself, or whether you want to appoint someone to act on your behalf. Where significant, potentially life-changing sums of money are involved, you will want to maximise your prospects of success and ensure that your lender compensates you in full. The 'stress factor' might also play a significant role in your decision as to whether or not you wish to be represented where large sums of money are involved. 

Should you choose to take on your lender personally in relation to a 'larger loan', we strongly recommend that you read and digest the information given in our FREE Complaint Guide. You should also do your own research to ensure that you are fully conversant with the claims process and all the legal arguments which might be raised by your lender.

If, however, you choose to go down the route of full representation, you should consider very carefully which firm to instruct. Many of the firms on the internet promoting similar services are not solicitors. We are a firm of solicitors regulated by the Solicitors Regulation Authority ('SRA'). You are, therefore, guaranteed professionalism and a high standard of service. 

We have an excellent track record in handling financial claims, for example, mis-sold endowment policies. Further, since we are solicitors, we find that lenders are more willing to deal with us reasonably. Claims management companies are not solicitors and are not regulated by the SRA.

Should you choose to instruct Winston Solicitors LLP, we will investigate all elements of your claim, highlighting its strengths and calculating the maximum amount of compensation to which you are entitled. Don't forget that, the larger the loan, the more significant the interest element of the claim will be.

Further, sales of large personal loans and second charge mortgages often included hidden commissions payable to the broker. Where you were unaware of such a commission being payable, you may be entitled to have it refunded and added to your compensation. We will ensure that this element of your claim is fully investigated. If necessary, we will cite the appropriate legal arguments.

We can help reclaiming mortgage PPI premiums on a no win no fee basis.

At Winston Solicitors LLP, we recognise that some people will prefer to represent themselves when reclaiming PPI premiums. However, should you choose to have full representation, we believe that a regulated firm of solicitors with experience in financial claims would be the most suitable choice of representative.

Winston Solicitors LLP would be happy to assess your case. Call 0845 009 6899 and speak to an advisor, or fill in our 'Free quick online enquiry form' and one of our advisors will contact you.