Santander who took over the brand of Abbey National has announced a drop in its profits for the first six months of 2011. This was largely down to the bank allocating approximately £548 million pounds to deal with santander ppi claims.
The size of the figure set aside demonstrates the amount of profit there was to be made from the sale of these policies. Payment protection insurance (ppi) was commonly sold alongside financial products such as loans, credit cards, and mortgages.
Not everyone will be aware that they have ppi as the sales practices of the bank were not monitored as effectively as they could have been. Branches were targeted on the sale of the insurance along side the financial products and the individual advisors were often paid a bonus on every sale.
It is easy to see how the best interests of the customer and control of the whole sales process was lost. Here at miss oldppi.com we have seen a rise in claims against santander.
If you think you have a santander ppi claims as you have a loan, credit card or even mortgage with them then start your claim today and you could soon be one of the many happy customers to have received a refund.
There are a number of reasons why ppi was mis sold and we can help guid you through the process. Simply complete our simple online form and allow us to help you today.