FAQ

PPI

PPI, or Payment Protection Insurance, is a form of insurance that has commonly been sold alongside personal loans and credit cards over the last decade. It is intended to protect against the risk that unemployment or sickness might make meeting repayments more difficult.

Citizens Advice Bureau research found that 85% of its clients who attempted to make a claim on their Payment Protection Insurance Policy (for it’s actual purpose), had been unsuccessful. As a result, even if you believe yourself to be fully insured, it is highly unlikely that your loan provider will cover your repayments even if the worst does happen.

It you have taken out a loan, credit card, or any other form of finance in the last ten years, it is very likely that you will have been sold PPI. Even if you have made a claim on this PPI before you can make a complaint. If you have made a complaint previously about the PPI policy itself, unfortunately we are not able to help.

In some cases lenders failed to properly inform the customer about the nature of the insurance, meaning that many people took it out without really knowing if it was right for them. In other cases, the insurance was sold to borrowers who could not claim the benefit from it, such as the self-employed who couldn’t claim, those in the public sector who didn’t need to claim, or those with un-discussed pre-existing medical conditions who were not told their insurance would be invalid, even for claims which had nothing to do with the condition!

In the worst cases, clients were not made aware that PPI had been included, since they had not requested it and the cost had been automatically incorporated into the loan quotation. Some were even misled into believing that they could not obtain the loan or credit unless they agreed to take the PPI.

This will depend on various factors. If the premiums were applied monthly, we would endeavour to get back all of the premiums paid, plus the interest already paid on those premiums. We would then fight to get interest on the interest and premiums already paid. In many cases this will significantly increase the size of your compensation settlement.

If the policy was sold with a single premium it is more complex. It would have to be worked out how much of that single premium has been paid so far plus how much interest has already been paid. Again we would fight for further interest to be paid because you could have had this money in a savings account. If the loan is still ongoing we would ensure that your loan is reduced by the amount of the premium left to be paid. This would give you lower monthly payments.

We recommend that if you are unsure about anything in the documentation we have sent you that you seek further advice or call us on 0333 321 0123. Once you are happy to proceed all you need to do is sign where indicated on the form. If the policy is in joint names, the signatures of both named policyholders are required.Once you have signed and returned the form, you have a 14 day “cooling off” period in which to cancel the agreement. It IS Your Money will begin the process of getting you your compensation on receipt of your forms, as we would not want you to miss out because of the time constraints involved. We will then:

  • Compose an initial letter to your credit provider detailing your reasons for complaint and requesting a copy of any documentation that they have which may be relevant to your case. This letter will also instruct them that, as we are dealing with your complaint, any correspondence and any questions or matters relating to your claim should be directed to It IS Your Money.
  • Act as an intermediary between you and your credit provider, including responding and managing all correspondence relating to your claim.
  • Ensure that once a decision has been reached and your claim is successful, that any compensation offered has been correctly calculated and incorporates all aspects of your complaint.
  • Consider any rejection of your complaint alongside the evidence provided by your credit provider to determine whether or not their rejection is justified. If we believe that the rejection is unjust, we will appeal against their decision directly, stating our reasons for doing so.
  • Take your complaint to the Financial Ombudsman Service if necessary. There is no extra charge for doing so. If the Financial Ombudsman Service does not uphold your claim our agreement would come to an end and you will not owe us a penny.

If your claim is upheld we will take a percentage of your compensation. If you shop around you will find that our fee is the industry standard amount of 30% plus VAT (currently 36% inclusive of VAT) of any compensation won. If your claim comes to an unsuccessful conclusion you will not be charged for the work we have carried out on your behalf.

No. If we are allowed to progress your claim to a conclusion you will either pay nothing if we are unsuccessful or a percentage of the money we claim back for you. Other charges may be payable in exceptional circumstances such as cancelling our contract. These are clearly set out in Conditions 5.1, 7.4, 7.5, 10.2, 10.5 and 15 of the Terms and Conditions.

It IS Your Money Ltd is regulated by the claims management regulator in respect of regulated claims management activities. We save you the time, effort and stress of dealing with the complaint alone. We will ensure you are compensated correctly and not disadvantaged with a partial refund.

Yes. If you have had other loans, credit cards or any other finance agreement that you wish to claim on please call us on 01803 500601 to see if you are eligible.

No. The Financial Conduct Authority (FCA) does not allow any company to disadvantage a customer because they’ve made a complaint.

All we need are the key details shown in your Claim Pack. Once we initiate your complaint we can obtain directly from your credit provider any further information we may need in order to build the strongest possible case.

Due to the individual nature of PPI complaints, the length of time taken to complete a complaint can vary. However, most claims are resolved within 8 to 12 weeks.

At It IS Your Money, customer relations are something that we strive to maintain and improve. Any complaint received is taken very seriously and is dealt with professionally and courteously in accordance with our internal complaints procedure, which is designed to quickly and efficiently resolve our clients’ concerns. A copy of this can be provided by contacting The Customer Relations Manager, It IS Your Money, Quay house, Lansdowne Lane, Torquay. TQ2 5BS.

Endowment

An endowment policy is a life insurance contract designed to pay a lump sum after a specified term (on its maturity) or on earlier death.Endowments can be used as a savings vehicle to provide a lump sum to fund a specific event in the future or more commonly, used for endowment mortgages to pay off interest only mortgages at maturity or earlier death.

Endowment Mortgage holders have to complain within three years of receiving their first high risk warning letter, or within 6 months of receiving a second warning letter. If you were sold an endowment policy and have not made a complaint, you have the right to put one forward.

It is not possible to complain just because of the disappointment at the performance of the endowment policy. Endowments are linked to long-term investments, which can go down as well as up.Many people were mis-sold endowment policies because the policy was not suitable for them. There are many reasons why an endowment policy may not have been right for you. Broadly speaking, if you were not informed of the risks associated with using an investment product to repay your mortgage and you have lost out financially as a result, you may have grounds for complaint. It is important that you complain because you may be entitled to compensation.

Compensation is usually based on what your position would have been now, if you hadn’t been sold an endowment policy but had taken out a repayment mortgage instead from the outset. It involves comparing the mortgage interest and endowment policy premiums you have actually paid, and the current surrender value of your mortgage endowment policy, with the mortgage interest and capital repayments you would have paid on an equivalent repayment mortgage, and how much capital you would have paid off your mortgage.

The precise calculation may vary if other factors need to be taken into account.

We recommend that if you are unsure about anything in the documentation we have sent you that you seek further advice or call us on 01803 500601. Once you are happy to proceed all you need to do is sign where indicated on the form. If the policy is in joint names, the signatures of both named policyholders are required.Once you have signed and returned the form, you have a 14 day “cooling off” period in which to cancel the agreement. It IS Your Money will begin the process of getting you your compensation on receipt of your forms, as we would not want you to miss out because of the time constraints involved. We will then:

  • Compose an initial letter to your Mortgage Endowment provider detailing your reasons for complaint and requesting a copy of any documentation that they have which may be relevant to your case. This letter will also instruct them that, as we are dealing with your complaint, any correspondence and any questions or matters relating to your claim should be directed to It IS Your Money
  • Act as an intermediary between you and your Mortgage Endowment provider, including responding and managing all correspondence relating to your claim
  • Ensure that once a decision has been reached and your claim is successful, that any compensation offered has been correctly calculated and incorporates all aspects of your complaint
  • Consider any rejection of your complaint alongside the evidence provided by your Mortgage Endowment provider to determine whether or not their rejection is justified. If we believe that the rejection is unjust, we will appeal against their decision directly, stating our reasons for doing so
  • Take your complaint to the Financial Ombudsman Service if necessary. There is no extra charge for doing so. If the Financial Ombudsman Service does not uphold your claim our agreement would come to an end and you will not owe us a penny

If your claim is upheld we will take a percentage of your compensation. If you shop around you will find that our fee is the industry standard amount of 35% plus VAT (currently 42% inclusive of VAT) of any compensation won. If your claim comes to an unsuccessful conclusion you will not be charged for the work we have carried out on your behalf.

No. If we are allowed to progress your claim to a conclusion you will either pay nothing if we are unsuccessful or a percentage of the money we claim back for you. Other charges may be payable in exceptional circumstances such as cancelling our contract. These are clearly set out in Conditions 5.1, 7.4, 7.5, 10.2, 10.5 and 15 of the Terms and Conditions.

It IS Your Money Ltd is regulated by the claims management regulator in respect of regulated claims management activities. We save you the time, effort and stress of dealing with the complaint alone. We will ensure you are compensated correctly and not disadvantaged with a partial refund.

If you were wrongly advised to buy the original endowment policy you may still be eligible for compensation. But the calculation may be affected by when you surrendered the endowment policy or it matured.

No. The Financial Conduct Authority (FCA) does not allow any company to disadvantage a customer because they’ve made a complaint.

All we need are the key details shown in your Claim Pack. Once we initiate your complaint we can obtain directly from your endowment provider any further information we may need in order to build the strongest possible case.

Due to the nature of Mortgage Endowment complaints, the length of time taken to complete a complaint can vary. However, most claims are resolved within 8 to 12 weeks.

At It IS Your Money, customer relations are something that we strive to maintain and improve. Any complaint received is taken very seriously and is dealt with professionally and courteously in accordance with our internal complaints procedure, which is designed to quickly and efficiently resolve our clients’ concerns. A copy of this can be provided by contacting The Customer Relations Manager, It IS Your Money, Quay house, Lansdowne Lane, Torquay. TQ2 5BS.

Packaged Bank Account

It’s a package bank account that incurs a monthly fee and includes added various insurance features, such as but not limited to Travel Insurance, Breakdown Cover and Mobile Phone Insurance. The accounts are also known as a Package Current Accounts and Added Value Accounts. The banks would also have different names for the individual accounts they supply, such as Silver, Gold, Platinum, Premier and Additions.

Yes there are currently no time scales, however banks may try to say if the account was downgraded to a fee free account over 3 years ago that you were aware at that time that the account was unsuitable and should of complained to the bank then.

If the account features were not explained to you or suitable for your needs, the cost of the account was not advised, if you were told that the account upgrade was compulsory or if it was the only account offered to you, if it was the only way you could access a linked benefit such as a loan or overdraft.

Compensation is usually based on a refund of the monthly fees paid with 8% interest, however if a cheaper account may have been more suitable, the bank will offer a partial refund as the difference between the account fees. We would fight for the full refund.

We recommend that if you are unsure about anything in the documentation we have sent you that you seek further advice or call us on 0333 321 0123. Once you are happy to proceed all you need to do is sign where indicated on the form. If the account is in joint names, the signatures of both account holders are required. Once you have signed and returned the form, you have a 14 day “cooling off” period in which to cancel the agreement.

Once the signed forms are received, a claims manager will contact you to obtain further information relating to the sale or upgrade of your account and complete a consumer questionnaire, which will be sent to you to check.

On receipt of all the completed forms, we will compose an initial letter to your Bank detailing your reasons for complaint and requesting a copy of any documentation that they have which may be relevant to your case. This letter will also instruct them that as we are dealing with your complaint, any correspondence and any questions or matters relating to your complaint should be directed to It IS Your Money.

The Bank may contact you by telephone at this point to clarify points on the letter and completed complaint form, we should advise that if you are unhappy to answer their questions, advise the Bank that we are dealing with the complaint for you and if they require further information to contact us direct.

We will act as an intermediary between you and your Bank, including responding and managing all correspondence relating to your claim.

Ensure that once a decision has been reached and your claim is successful, that any compensation offered has been correctly calculated and incorporates all aspects of your complaint.

Consider any rejection of your complaint alongside the evidence provided by your Bank to determine whether or not their rejection is justified. If we believe that the rejection is unjust we will appeal against their decision directly, stating our reasons for doing so.

Take your complaint to the Financial Ombudsman Service if necessary. There is no extra charge for doing so. If the Financial Ombudsman Service does not uphold your complaint our agreement would come to an end and you will not owe us a penny.

If your claim is upheld we will take a percentage of your compensation, this is set at a fee of 30% plus VAT (currently 36% inclusive of VAT) of any compensation won. If you claim comes to an unsuccessful conclusion you will not be charged for the work we have carried out on your behalf.

It IS Your Money Ltd is regulated by the claims management regulator in respect of regulated claims management activities. We save you the time, effort and stress of dealing with the complaint alone. We will ensure you are compensated correctly and not disadvantaged with a partial refund.

No. The Financial Conduct Authority (FCA) does not allow any company to disadvantage a customer because they’ve made a complaint.

All we need are the account and sort code details shown in your Claim Pack. Once we initiate your complaint we can obtain directly from your Bank any further information we may need in order to build the strongest possible case. (If your account details are not known, it may be possible for the bank to trace your account details if you have advise us of the Bank’s branch address).

Due to the nature of Bank complaints, the length of time taken to complete a complaint can vary. However, most claims are resolved within 8 to 12 weeks.

At It IS Your Money, customer relations are something that we strive to maintain and improve. Any complaint received is taken very seriously and is dealt with professionally and courteously in accordance with our internal complaints procedure, which is designed to quickly and efficiently resolve our clients’ concerns. A copy of this can be provided by contacting The Customer Relations Manager, It IS Your Money, Quay House, Landsdowne Lane, Torquay. TQ2 5BS.

Investment

An investment in terms of a financial product is where a consumer purchases a product with the hope of favourable returns. In general terms, investment means the use money in the hope of making more money. There are a vast number of investment products that can be used for the purpose including, but not limited to Equity ISA’s, Bonds or Unit Trusts.

If you have taken out an investment product and been disappointed with the returns, it may be that you didn’t understand the risks with the product. Please get in touch to see if you are elidgible to make a claim.

It is not possible to complain just because of the disappointment at the performance of the investment product. Equity backed investments can go down as well as up. Many people were mis-sold investment products because the products were not suitable for their circumstances. There are many reasons why an investment may not have been right for you. Broadly speaking, if you were not informed of the risks associated with the product and you have lost out financially as a result, you may have grounds for complaint. It is important that you complain because you may be entitled to compensation.

Compensation is usually based on what your position would have been now, if you hadn’t been sold the investment and received suitable advice at outset. It involves assessing what you would have done with your money at outset and comparing the possible returns. The precise calculation may vary if other factors need to be taken into account.

We recommend that if you are unsure about anything in the documentation we have sent you that you seek further advice or call us on 0333 321 0123. Once you are happy to proceed all you need to do is sign where indicated on the form. If the investment is in joint names, the signatures of both named policyholders are required.Once you have signed and returned the form, you have a 14 day “cooling off” period in which to cancel the agreement. It IS Your Money will begin the process of getting you your compensation on receipt of your forms, as we would not want you to miss out because of the time constraints involved. We will then:

  • Compose an initial letter to your Investment provider detailing your reasons for complaint and requesting a copy of any documentation that they have which may be relevant to your case. This letter will also instruct them that, as we are dealing with your complaint, any correspondence and any questions or matters relating to your claim should be directed to It IS Your Money.
  • Act as an intermediary between you and your Investment provider, including responding and managing all correspondence relating to your claim.
  • Ensure that once a decision has been reached and your claim is successful, that any compensation offered has been correctly calculated and incorporates all aspects of your complaint.
  • Consider any rejection of your complaint alongside the evidence provided by your Investment provider to determine whether or not their rejection is justified. If we believe that the rejection is unjust, we will appeal against their decision directly, stating our reasons for doing so.
  • Take your complaint to the Financial Ombudsman Service if necessary. There is no extra charge for doing so. If the Financial Ombudsman Service does not uphold your claim our agreement would come to an end and you will not owe us a penny.

If your claim is upheld we will take a percentage of your compensation. If you shop around you will find that our fee is the industry standard amount of 35% plus VAT (currently 42% inclusive of VAT) of any compensation won. If your claim comes to an unsuccessful conclusion you will not be charged for the work we have carried out on your behalf.

No. If we are allowed to progress your claim to a conclusion you will either pay nothing if we are unsuccessful or a percentage of the money we claim back for you. Other charges may be payable in exceptional circumstances such as cancelling our contract. These are clearly set out in Conditions 5.1, 7.4, 7.5, 10.2, 10.5 and 15 of the Terms and Conditions.

  • It IS Your Money Ltd is regulated by the claims management regulator in respect of regulated claims management activities.. We save you the time, effort and stress of dealing with the complaint alone. We will ensure you are compensated correctly and not disadvantaged with a partial refund.
  • It IS Your Money has vast experience with Investment mis selling claims, and as a result we have a comprehensive knowledge of the regulations that should have been adhered to when selling them.
  • It IS Your Money have the expertise to pinpoint all the reasons for a mis-sold product and will be able to establish exactly the level of compensation you are entitled to.
  • It IS Your Money will continue working on your behalf until you receive a suitable offer of compensation.
  • It IS Your Money will endeavour to make sure that the company you’re claiming against follows all guidelines and time limits within the industry.
  • It IS Your Money will breakdown the terminology that companies use to complicate the claiming process, which tends to discourage consumers pursuing the case further.

If you were wrongly advised to start an Investment, you may still be eligible for compensation. But the calculation may be affected by when you received the cash value.

No. The Financial Conduct Authority (FCA) does not allow any company to disadvantage a customer because they’ve made a complaint.

All we need are the key details shown in your Claim Pack. Once we initiate your complaint we can obtain directly from your Investment provider any further information we may need in order to build the strongest possible case.

Due to the nature of Investment complaints, the length of time taken to complete a complaint can vary. However, most claims are resolved within 8 to 12 weeks.

At It IS Your Money, customer relations are something that we strive to maintain and improve. Any complaint received is taken very seriously and is dealt with professionally and courteously in accordance with our internal complaints procedure, which is designed to quickly and efficiently resolve our clients’ concerns. A copy of this can be provided by contacting The Customer Relations Manager, It IS Your Money, Quay house, Lansdowne Lane, Torquay. TQ2 5BS.

FSAVC

FSAVCs are similar to personal pension policies – but can be used by members of an occupational pension scheme to increase their pension provision.

The FSAVC arrangement is separate from the occupational pension scheme. The consumer pays contributions which are invested – and grow with investment returns to produce a fund on retirement that must be used to provide retirement benefits.

When you took out your FSAVC, you may not have been told about alternative options for your retirement planning. If this is the case, you could have an FSAVC claim.

It is not possible to complain just because of the disappointment at the performance of the FSAVC plan. FSAVCs are linked to long-term investments – which can go down as well as up.

FSAVC policies levy high charges which hamper the performance, lowering the policy value. In contrast, company AVC schemes are usually offered with much lower charges because there is no salesman’s commission and the company can sometimes subsidise the cost of administration.

Many public sector and larger employers offered pension schemes called a ‘final salary’ type (i.e. the employee receives a guaranteed proportion of their final salary at retirement; the exact amount determined by the length of service). These schemes allowed employees to buy extra years of service to boost their pension. Pensions from such ‘added years’ schemes, as they are known, are not subject to risky stock market movements and thus tend to produce much higher pensions than FSAVCs.

There were complex selling rules and regulations that the salesmen needed to follow when selling FSAVC’s so that people could make a properly informed choice between starting the FSAVC or in house AVC.

Unfortunately many salesmen did not adhere to the rules and as a result many people who were sold FSAVCs would have been much better off investing into their own company AVC scheme.

As you can imagine, the calculation can be very complex and involves comparing the FSAVC contribution and value over time with what would have happened if you had made the same contribution to one of the often more suitable in house alternative.

If you have retired, the provider will be required to calculate your losses from your retirement date with the addition of interest. If you are in receipt of your annuity, it is possible that the FSAVC provider will be required to enhance your annuity payment.

The precise calculation may vary if other factors need to be taken into account. Due to the complexity of the calculation, many providers employ a specialist actuary to work on their behalf.

We recommend that if you are unsure about anything in the documentation we have sent you that you seek further advice or call us on 01803 500609. Once you are happy to proceed all you need to do is sign the highlighted parts on the form.

Once you have signed and returned the form, you have a 14 day “cooling off” period in which to cancel the agreement. It IS Your Money will begin the process of getting you your compensation on receipt of your forms, as we would not want you to miss out because of the time constraints involved. We will then:

  • Compose an initial letter to your FSAVC provider detailing your reasons for complaint and requesting a copy of any documentation that they have which may be relevant to your case. This letter will also instruct them that, as we are dealing with your complaint, any correspondence and any questions or matters relating to your claim should be directed to It IS Your Money.
  • Act as an intermediary between you and your FSAVC provider, including responding and managing all correspondence relating to your claim.
  • Ensure that once a decision has been reached and your claim is successful, that any compensation offered has been correctly calculated and incorporates all aspects of your complaint.
  • Consider any rejection of your complaint alongside the evidence provided by your FSAVC provider to determine whether or not their rejection is justified. If we believe that the rejection is unjust, we will appeal against their decision directly, stating our reasons for doing so.
  • Take your complaint to the Financial Ombudsman Service if necessary. There is no extra charge for doing so. If the Financial Ombudsman Service does not uphold your claim our agreement would come to an end and you will not owe us a penny.

We charge 35% +VAT of the compensation that you win. To give you some assurance, we do apply a cap to the fee that we would charge on any compensation that is paid into your pension fund. Our cap is currently £2,000 including VAT, however, this only applies to the fee charged on any compensation paid to your pension fund; any cash award will not be subject to the cap.

If you receive total compensation of £20,000 where £10,000 is paid into your fund and £10,000 is paid as cash we would charge as follows:

  • Element A £10,000 (into fund) capped at £1666.66 + VAT = £2,000 inc VAT
  • Element B £10,000 (cash Payment) £3,500 + VAT = £4,200 inc VAT
  • Total fee payable £5166.66 + VAT = £6,199.99

No. If we are allowed to progress your claim to a conclusion you will either pay nothing if we are unsuccessful or a percentage of the money we claim back for you. Other charges may be payable in exceptional circumstances such as cancelling our contract. These are clearly set out in Conditions 5.1, 7.4, 7.5, 10.2, 10.5 and 15 of the Terms and Conditions.

  • It IS Your Money has vast experience with FSAVC mis selling claims, and as a result we have a comprehensive knowledge of the regulations that should have been adhered to when selling them.
  • It IS Your Money have the expertise to pinpoint all the reasons for a mis-sold policy and will be able to establish exactly the level of compensation you are entitled to. It IS Your Money will continue working on your behalf until you receive a suitable offer of compensation.
  • It IS Your Money will endeavour to make sure that the company you’re claiming against follows all guidelines and time limits within the industry.
  • It IS Your Money will breakdown the terminology that companies use to complicate the claiming process, which tends to discourage consumers pursuing the case further.
  • It IS Your Money Ltd is regulated by the claims management regulator in respect of regulated claims management activities.. We save you the time, effort and stress of dealing with the complaint alone.
  • It IS Your Money has vast experience with FSAVC mis selling claims, and as a result we have a comprehensive knowledge of the regulations that should have been adhered to when selling them.
  • It IS Your Money have the expertise to pinpoint all the reasons for a mis-sold policy and will be able to establish exactly the level of compensation you are entitled to. It IS Your Money will continue working on your behalf until you receive a suitable offer of compensation.
  • It IS Your Money will endeavour to make sure that the company you’re claiming against follows all guidelines and time limits within the industry.
  • It IS Your Money will breakdown the terminology that companies use to complicate the claiming process, which tends to discourage consumers pursuing the case further.

Yes, if you were wrongly advised to start the original FSAVC policy you may still be eligible for compensation. The precise calculation may vary depending on your circumstances, however It IS Your Money will work with you to ensure that you reclaim what is rightfully yours.

No. The Financial Services Authority (FSA) does not allow any company to disadvantage a customer because they’ve made a complaint.

All we need are the key details shown in your Claim Pack. Once we initiate your complaint we can obtain directly from your FSAVC provider any further information we may need in order to build the strongest possible case.

Due to the complex nature of FSAVC complaints, the length of time taken to complete a complaint can vary. However, we often see claims taking approximately 5 to 6 months to get a resolution. It IS Your Money will keep you informed of the progress of your complaint throughout the process.

At It IS Your Money, customer relations are something that we strive to maintain and improve. Any complaint received is taken very seriously and is dealt with professionally and courteously in accordance with our internal complaints procedure, which is designed to quickly and efficiently resolve our clients’ concerns. A copy of this can be provided by contacting The Customer Relations Manager, It IS Your Money, Quay House, Lansdowne Lane, Torquay, TQ2 5BS.

Pension Mortgage

The information you provided your claims assessor with suggest that you were not told about the alternatives or the risks when taking out your Pension Mortgage. It is therefore likely that you have been mis-sold a Pension Mortgage and have a valid claim.

It is not possible to complain just because of the disappointment at the performance of the pension policy. Pensions are linked to long-term investments – which can go down as well as up.

Many people were mis-sold Pension Mortgages because the arrangement was not suitable for them. There are many reasons why a Pension Mortgage may not have been right for you. Broadly speaking, if you were not informed of the risks associated with using an investment product to repay your mortgage and you have lost out financially as a result, you may have grounds for complaint. It is important you complain because you may be entitled to compensation.

Compensation is usually based on what your position would have been now, if you hadn’t been sold a Pension Mortgage but had taken out a repayment mortgage instead from the outset.

It involves comparing the mortgage interest and pension policy premiums you have actually paid, and the current transfer value of your pension policy, with the mortgage interest and capital repayments you would have paid on an equivalent repayment mortgage, and how much capital you would have paid off your mortgage.

The precise calculation may vary if other factors need to be taken into account.

We recommend that if you are unsure about anything in the documentation we have sent you that you seek further advice or call us on 0333 321 0123. Once you are happy to proceed all you need to do is sign where indicated on the form. If the account is in joint names, the signatures of both account holders are required. Once you have signed and returned the form, you have a 14 day “cooling off” period in which to cancel the agreement.

Once the signed forms are received, a claims manager will contact you to obtain further information relating to the sale or upgrade of your account and complete a consumer questionnaire, which will be sent to you for signing.

On receipt of all the completed forms, we will compose an initial letter to your Pension Provider detailing your reasons for complaint and requesting a copy of any documentation that they have which may be relevant to your case. This letter will also instruct them that as we are dealing with your complaint, any correspondence and any questions or matters relating to your complaint should be directed to It IS Your Money.

The Bank may contact you by telephone at this point to clarify points on the letter and completed complaint form, we should advise that if you are unhappy to answer their questions, advise the Bank that we are dealing with the complaint for you and if they require further information to contact us direct.

We will act as an intermediary between you and your Pension Provider, including responding and managing all correspondence relating to your claim.

Ensure that once a decision has been reached and your claim is successful, that any compensation offered has been correctly calculated and incorporates all aspects of your complaint.

Consider any rejection of your complaint alongside the evidence provided by your Pension Provider to determine whether or not their rejection is justified. If we believe that the rejection is unjust we will appeal against their decision directly, stating our reasons for doing so.

Take your complaint to the Financial Ombudsman Service if necessary. There is no extra charge for doing so. If the Financial Ombudsman Service does not uphold your complaint our agreement would come to an end and you will not owe us a penny.

If your claim is upheld we will take a percentage of your compensation. If you shop around you will find that our fee is the industry standard amount of 35% plus VAT (currently 42% inclusive of VAT) of any compensation won. If your claim comes to an unsuccessful conclusion you will not be charged for the work we have carried out on your behalf.

No. If we are allowed to progress your claim to a conclusion you will either pay nothing if we are unsuccessful or a percentage of the money we claim back for you. Other charges may be payable in exceptional circumstances such as cancelling our contract. These are clearly set out in Conditions 5.1, 7.4, 7.5, 10.2, 10.5 and 15 of the Terms and Conditions.

It IS Your Money are regulated by the Ministry of Justice in respect of regulated claims management activities. We save you the time, effort and stress of dealing with the complaint alone.

  • It IS Your Money has vast experience with Pension Mortgage mis selling claims, and as a result we have a comprehensive knowledge of the regulations that should have been adhered to when selling them.
  • It IS Your Money have the expertise to pinpoint all the reasons for a mis-sold policy and will be able to establish exactly the level of compensation you are entitled to. It IS Your Money will continue working on your behalf until you receive a suitable offer of compensation.
  • It IS Your Money will endeavour to make sure that the company you’re claiming against follows all guidelines and time limits within the industry.
  • It IS Your Money will breakdown the terminology that companies use to complicate the claiming process, which tends to discourage consumers pursuing the case further.

Yes, if you were wrongly advised to start the original Pension Mortgage you may still be eligible for compensation. The precise calculation may vary depending on your circumstances, however It IS Your Money will work with you to ensure that you reclaim what is rightfully yours

No. The Financial Conduct Authority (FCA) does not allow any company to disadvantage a customer because they’ve made a complaint.

All we need are the key details shown in your Claim Pack. Once we initiate your complaint we can obtain directly from your Pension provider any further information we may need in order to build the strongest possible case.

Due to the nature of Pension Mortgage complaints, the length of time taken to complete a complaint can vary. However, most claims are resolved within 8 to 12 weeks.

At It IS Your Money, customer relations are something that we strive to maintain and improve. Any complaint received is taken very seriously and is dealt with professionally and courteously in accordance with our internal complaints procedure, which is designed to quickly and efficiently resolve our clients’ concerns. A copy of this can be provided by contacting The Customer Relations Manager, It IS Your Money, Quay House, Lansdown Lane, Torquay, TQ2 5BS.