Mis-Selling Claim Solicitors
You were told what the product would do — and it did not do it. Or you were sold something entirely unsuitable for your needs. Either way, mis-selling has a remedy.
Mis-selling arises when a consumer is sold a product or financial service on the basis of false, misleading, or incomplete information — or where the product was unsuitable for the consumer's needs and the seller knew or should have known this. PPI, investment products, endowment mortgages, insurance policies, and structured products have all been the subject of widespread mis-selling. A solicitor will assess the specific advice given, what should have been said, and what compensation you are entitled to recover.
Types of Mis-Selling Claim
Mis-selling — what the law requires and how the claim is established.
Mis-selling claims require evidence of what was said, what was omitted, and what the consumer's needs were. A solicitor will identify the advice given, the standard that should have been met, and the loss caused by the shortfall.
Financial product mis-selling — FCA regulatory framework
FCA-authorised firms must ensure that advice is suitable for the customer — based on the customer's financial circumstances, needs, and objectives. Where advice was given without adequate information-gathering, the product recommended did not match the customer's risk profile, or the risks were not adequately explained — the advice falls below the required standard and gives rise to a compensation claim. The Financial Ombudsman Service handles complaints against FCA-authorised firms up to £430,000; larger claims can be pursued in court. A solicitor will assess the advice against the FCA standard and advise on the appropriate route.
PPI mis-selling
Payment Protection Insurance was widely mis-sold alongside credit products — on the basis that it was compulsory, without checking eligibility (many customers were excluded from claiming due to employment status or pre-existing conditions), and without the customer being told the cost. The FCA deadline for PPI complaints was August 2019 — claims made after that date are generally time-barred. However, claims where there was secret commission (a "plevin" claim) — where the lender retained a commission from the PPI premium that was not disclosed — may still be available in some circumstances. A solicitor will assess whether any viable PPI route remains open.
Investment and pension mis-selling
High-risk investments — structured products, SIPP investments in unregulated schemes, mini-bonds, and peer-to-peer lending — have been mis-sold to retail investors who were unsuitable for them. Pension transfer advice that moved a consumer from a defined benefit scheme into a riskier product is another common form of mis-selling. A solicitor will identify the specific regulatory breach — failure to assess risk appetite, failure to explain the investment terms, or failure to understand the nature of the investment — and quantify the loss against what the investment would have been worth in a suitable product.
Endowment mortgage mis-selling
Endowment mortgages — where the mortgage is interest-only and the capital is expected to be repaid by an endowment policy — were widely mis-sold on the basis of projections that were not achievable, without adequate explanation of the risk that the endowment would not produce enough to repay the mortgage. Many policyholders have received complaint payouts from the insurer; others whose policies underperformed but who did not complain in time may still have routes available through the Financial Ombudsman or litigation if the complaint was not time-barred.
Insurance mis-selling
Insurance — home, vehicle, travel, pet — can be mis-sold where the policy was described as covering something it did not cover, where exclusions were not adequately explained, or where the consumer was unsuitable for the product. Where a consumer makes a claim under the policy and is refused on the basis of an exclusion that was not drawn to their attention, the insurer's conduct may constitute mis-selling. A solicitor will review the policy terms, what was said at the point of sale, and advise on whether the insurer's refusal to pay the claim is contestable on mis-selling grounds.
Consumer goods and service mis-selling
Mis-selling of non-financial products — a kitchen sold as solid wood that was MDF, a boiler installed as the model specified that was a different and cheaper model, a course sold as CPD-accredited that was not — is actionable under the Misrepresentation Act 1967 and the Consumer Protection from Unfair Trading Regulations 2008. A solicitor will identify the false statement, establish that it induced the consumer to enter the contract, and pursue rescission or damages for the loss caused by the misrepresentation.