3rd October 2011
Stuart Bell, founder of Real Time Claims (RTC) in Newcastle, believes that the mis-selling of Payment Protection Insurance (PPI) policies on mortgages means that home-owners in the region could be owed over £200million in refunds.
He explained: “Many home-owners will have been mis-sold PPI if for example they were told they could not get the mortgage without it, were sold it without needing it or by not even being eligible for it. Most of the reports in the press concentrate purely on PPI on bank loans or credit cards but most home-owners have also been mis-sold products on their mortgages.
“It is a common misconception that you cannot claim a refund on mis-sold payment protection insurance attached to a mortgage because of signed documentation and many customers who go it alone often have a low success rate due to red tape and legal jargon which can be off-putting.”
With a business career in financial services and the international business arena, Mr Bell set up Real Time Claims in 2007 to be a more consumer-friendly claims management company.
He continued: “It is important to find a specialist team of people who know the compensation claims process back to front, ensuring a fair and just approach. Over the past four years we have seen a 90% success rate in client’s compensation claims however most people still do not know that they are eligible for a refund.”
The first of its kind, Real Time Claims has now launched a new user-friendly online claims processing system where clients can very simply complete and track their claim online, managed by RTC’s established team of experts. Working on a no win, no fee basis the process takes up to eight weeks and is regulated by the Ministry of Justice (MOJ).
He added: “We act on behalf of those who have been treated unfairly by their mortgage and other lenders and can help thousands of people in the region get their money back on their mis-sold PPI policies.
“An average refund can be up to £2000 per case so with most households having a mortgage, other loans and several credit cards, the total refunds due can be quite substantial. It is about reclaiming what is rightfully theirs.”