OpenDoor has helped recover £30million in PPI claims for our customers. If you’ve been paying for Payment Protection Insurance that you didn’t want, need or ask for we can help you reclaim the money you may be owed.
Payment protection insurance (PPI) is intended to cover monthly repayments on loans, mortgages or financial agreements in the event that you become ill, unemployed or otherwise unable to meet the minimum repayments.
It is widely recognised that these types of insurance was mis-sold in the majority of cases, with the insurance added to the loan without the borrower realising.
The Financial Conduct Authority (FCA) has announced that the PPI claims deadline is 29 August 2019 – so if you want to claim for mis-sold PPI, you’ll have to do it by then. You can read more about this in our PPI claims deadline blog.
Should we be able to prove the provider of your policy is responsible for selling an unsuitable product to you, compensation can be claimed back.
Policyholders are now able to claim compensation for payments made plus interest at 8% per year.
Our claims managers are on hand to discuss any claim in more detail and help you to recover the maximum amount of compensation that you’re entitled to claim.
Helped recover over £30million in PPI for our customers
Our average claim is £1,600
Still roughly £8billion worth of PPI yet to be claimed
The Financial Conduct Authority (FCA) has announced that the deadline for PPI claims is 29 August 2019. That means that if you’re still looking to submit a claim for mis-sold PPI and get compensation, you’ll need to make sure you’ve done this by this date. You can read more about this in our PPI claims deadline blog.
Although you are able to contact financial institutions directly this can sometimes seem daunting. Some customers may experience delays or simply don’t have the time or inclination to handle it themselves. We take away all the admin and time pressures and it’s in our interests to get you the right result.
It is also the case that a high percentage of claims are rejected by providers in the first instance, which we have experience in overturning.
We have a specially trained team of experts who know what is needed when dealing with these types of claims. We’ll take all the hassle out of claiming by obtaining all the required information at the start of the claim and ensure you don’t have to deal with the banks, airlines or other providers directly.
As a firm regulated by the Solicitors Regulation Authority we are heavily regulated and adhere to higher levels of compliance compared to other claims management firms. We also have a team of in-house solicitors should we need to scrutinise any claims and correspondence as required.
No. Unlike some of our competitors we don’t ask for an upfront fee. And should your claim be unsuccessful you will not owe us any money.
In the first instance, please contact your claims manager, or their supervisor whose details will be provided to you upon request. The complaint will then be investigated and reported back to you as soon as possible.
For more information on our complaint procedure please visit our How to Complain page
We will undertake your claim on a no win-no fee arrangement. If successful our fee will be 25% plus VAT of the total amount recovered. For example:
If your refund is £1,000 our fee will be £250 plus VAT.
VAT is 20% of £250 = £50
Total fee payable to us is £300.
The usual turnaround time for this sort of claim is 10 weeks, including admin, processing and postage time.
The Financial Conduct Authority (FCA) normally insists that all complaints are investigated within an eight-week period. In some cases, depending on the bank or firm involved, we have had payouts within the eight-week timeframe.
If the provider refuses to accept the complaint we can refer it to the Financial Ombudsman Service (FOS). Then the timescale can increase by up to a further two years.
We will endeavour to keep you informed at regular intervals about the progress of your claim.
Fees are collected once an offer has been paid. You will be invoiced directly, as the lender normally pays the balance directly to you or offsets it against your current balances. OpenDoor can accept payment over the phone using a debit or credit card, or via a bank transfer. If a bank or financial provider forwards the compensation directly to us to then pass to you, we will deduct our fee first and then send you a cheque for the balance.
To be able to act on your behalf and proceed with your claim, we need to have signed and completed Letters of Authority and Terms and Conditions relating to each provider we will be dealing with.
If your claim is successful, you’ll receive a refund of the premiums you paid plus interest at a statutory rate, which currently stands at 8%.