Reclaim PPI From Egg
If you have ever had a mortgage, loan or credit card with Egg, then there is a high chance that you may have been mis-sold PPI on your borrowing.
Originally set up by the Prudential back in he 1990's, it was christened Egg in 1998 and re-launched as Britains first real offering in Internet banking. It coincided with the credit explosion in the U.K. and from a standing start, Egg was soon weighing in with more than 2million customers.
The drive for customers went hand in hand with aggressive sales of Payment Protection Insurance and in December 2008, Egg was issued with a Final Decision Notice from the FCA, imposing a financial penalty of £721,000. This specifically related to the non-advised telephone sales of credit card payment insurance between 14 January 2005, when the FSA became responsible for regulation, up to 17 December 2007.
During the period in question, Egg sold in excess of 100,000 Card Payment Protection policies. Egg's premium income on that little lot was a very tidy £17 million, not surprising given that the cost of the cover came in at the high end of a normal credit card, at £79p per £100 of credit card balance.
During the courses of the FSA investigation, Egg, was sold to Citi in May 2007. In turn Barclays bought Citi's former Egg credit card book in 2011 and months later Yorkshire Building Society snapped up the mortgage and savings accounts.
At the Beat the Banks, we have an excellent record for reclaiming mis-sold PPI on borrowing with Egg. There are two mains reasons, firstly we always look to recover the full paperwork from the lender. This includes opening agreements, contact notes and statements. Not like other claims management companies that simply obtain very basic records, that don't contain any of the former. Put simply, we don't guess on your claim.
Secondly, our team is packed full of hundreds of years of industry experience and all our claims experts are former bank lending managers. If you think you have been mis-sold Payment Protection Insurance on your Egg borrowing and would like to know a bit more about how we can help, you can call 01382 200474 or for free on 0800 193 1234.
Beat The Banks Are Different
Find out why by watching our videos. We care, we fight your fight, and, we go back further and work harder to make sure you get more. Give your one chance your best chance with beat the Banks.