James Mckenzie says…

" I recently employed FCAS to claim back my mis-sold payment protection. I found the FCAS service be of a very high standard. It helped immensley dealing with my dedicated claim handler. I found them very friendly and willing to help regardless of whatever questions I had. The outcome was I managed to claim back the full amount owed to me. I really wouldn’t hesitate to recommend FCAS to a friend in the future."

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What is a "Single Premium Policy"?

When the amount paid for payment protection insurance is borrowed from the provider up-front to cover the cost of the policy, it is a Single Premium Policy.

In these circumstances, as the money is borrowed from the provider to pay for the insurance policy they then charge additional interest for providing this funding, typically at the same APR as is being charged for the original sum borrowed.

This further increases the effective total cost of the policy to the customer.

In addition, if you bought PPI to cover a long-term loan there is a chance that the insurance will run out before the loan is repaid. Most PPI policies will only run for five years, so if your loan term is longer than this the seller should have explained this limitation.

For more information, call us on 01727 884 860 or simply fill in the online application form on the right. Our advice is free and completely confidential so why not give us a call today...

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