Author: numan
D Ismail
Highly recommend Versus Law Solicitors for any landlord/ landlady out there. Professional, fast and straight to the point service- you will not be disappointed!
My solicitor, Nicholas Lusty, was absolutely amazing in getting my property back. Friendly, professional, and updated me very quickly with any news.
Could not fault anything! Thank you very much
P Battersby
Isobel
How do I claim for mis sold finance?
Fill in the form on this page and one of our specialist lawyers will call you back to discuss your mis sold finance claim.
What is the claims process?
- Complete the online enquiry form
- Client care / conditional fee documents sent to you
- You check our terms and conditions and sign the same, which is sent back to us
- A questionnaire is sent to you to complete to provide vehicle information
- We contact the vehicle finance company/broker / dealer to obtain finance/commission information
What evidence do I need to provide?
- Name and address of dealer or finance company
- Registrations of the vehicles taken out on finance
- Finance agreement if available
- Copy of the finance agreement if available
Can I claim for more than one vehicle?
The simple answer is yes. there is no limit on the number of vehicles you can claim for as long as they were financed.
Who can apply for a mis sold finance claim?
We can only act for residents of England or Wales.
1. Complete the online enquiry form
2. Client care / conditional fee documents sent to you
3. You check our terms and conditions and sign the same, which is sent back to us
4. A questionnaire is sent to you to complete to provide vehicle information
5. We contact the vehicle finance company/broker / dealer to obtain finance/commission information
Is hidden commission banned?
The FCA in June 2020 imposed an outright ban on commission linked to vehicle finance deals. The impact of this is that finance brokers will not be allowed to charge a commission based on the interest rate offered from 28th January 2021. It is estimated by the FCA that the ban they have imposed will save consumers in the region of £165 million a year.
How much is my claim worth?
From the FCA report it is estimated that the average amount of compensation for a mis-sold finance compensation claim could be in the region of £1,100. In some cases, the amount owed for such a compensation claim could be higher.
The exact amount recoverable will be dependent on the following factors:
- The size of the loan acquired. The higher the amount of the loan the more you will be able to claim.
- The interest rate you were quoted, and how much difference there is between the rate quoted and the rate you should have been quoted.