If you were sold PPI by MBNA a new ruling means you may still be able to claim compensation, despite the deadline passing. Different MBNA PPI Plevin claims against the firm mean you may be entitled to thousands in compensation. Find out if you are eligible to claim today.

Banks and lenders paid out an incredible £36billion in the wake of the PPI scandal. It became the biggest mis-selling financial saga in the world. Now, a recent Supreme Court ruling means that the payouts are not over, despite the deadline passing.

UK residents are able to bring forward an MBNA PPI claim if they have missed the deadline due to a recent ruling called Plevin. Below, our experts detail what Plevin is, how it could affect you if you were an MBNA PPI customer, and how you are still able to claim compensation.

Our panel of MBNA PPI solicitors are able to assist you in your claim, and work on a No Win, No Fee basis. If you believe you are eligible, use our form below to get in touch.

Who are MBNA?

Founded in America in 1982, MBNA originally stood for Maryland Bank National Association. The band has been in the UK since 1993, and is based in Chester. MBNA joined Lloyds Banking Group in 2017, and now trades under a trading style. They offer a number of financial products including credit cards.

MBNA and Lloyds were massive players in the PPI scandal. In the final year alone, Lloyds paid £2.5billion in PPI compensation claims, taking their total paid out over the mis-selling saga to £21.9 billion, the largest of any financial company.

What is an MBNA Plevin PPI Claim?

A MBNA PPI Plevin claim refers to a November 2014 ruling that saw Mrs Plevin win a court case against her lender. She was sold a PPI policy to cover her secured loan from Paragon Personal Finance. Mrs Plevin poured through the small print of this policy and found that a massive 71.8% of this payment was commission that had been concealed in the terms and conditions.

This commission was payment to the lender, and she alleged this was unfair. In November 2014, the Supreme Court agreed, due to:

• Non-disclosure of the commission payment; and
• The percentage of the PPI premium that was paid as commission.

This then set precedent for future MBNA PPI cases, with the FCA saying that anyone who wishes to bring forward a separate Plevin PPI claim should do so. The main part of the claim is centred around the hidden commission part of the policy.

Are Plevin cases different to mis-sold PPI cases?

Yes, the original PPI mis-selling claim and a Plevin PPI claim are actually different types of claims. An MBNA PPI claim is based around the mis-selling of the policy, whereas Plevin doesn’t take in account whether or not the policy was suitable for the customer or not.

Instead, it focuses on whether there was any hidden or undisclosed commission on the policy. If this commission was higher than 50% of the policy, then it has been mis-sold.

This distinction actually means that if it was originally determined you were not mis-sold your PPI policy by MBNA, you may still be able to claim compensation.

Am I eligible to claim MBNA PPI Compensation?

If the below applies to you, you may be eligible to claim:

• Your PPI policy was sold before 6 April 2007 and open after 6 April 2008; or
• Your PPI policy was sold after 6 April 2007 (whether or not it was still open after 6 April 2008);
• You have not previously complained about Mis-sold PPI;
• You have had a PPI Claim rejected; or
• You had a refund for the “Plevin only” part of your PPI (also known as a “tipping point offer”)

Because Plevin also applies to those who have been turned down historic PPI claims, there could be an additional 1.2 million individuals affected. If you believe you have an MBNA Plevin claim, get in touch with our panel of experts today.

How much can I claim for MBNA Plevin PPI cases?

How much you are owed from an MBNA PPI Plevin will depend on a few factors. If the commission paid was over 50%, the FCA has ruled that claimants can received a refund for the difference back in compensation. For example, typically, a £20,000 loan over five years could see £1,000 compensation for a Plevin PPI case.

Our expert panel of MBNA Plevin PPI solicitors will be able to inform you how much you could look to recover in compensation.

How can ClaimExperts.co.uk help?

At ClaimExperts.co.uk we have compiled an expert panel of MBNA PPI solicitors. They can assist you with your MBNA Plevin PPI claim on a No Win, No Fee basis. To start your free, no-obligation review of your claim, fill out our below enquiry form.

Important Information

Fairweather Group Ltd t/a ClaimExperts.co.uk do not give legal advice. You do not need to use a claims management company to make a claim. You have the right to use the relevant Ombudsman to seek redress for free. More information on your particular Ombudsman can be found on our Terms & Conditions. You can also seek legal advice elsewhere.

The No Win No Fee Success Fee is based on which expert panel member we refer you to and is payable to them. Our panel currently consists of a number of law firms, which can also be found on our Terms & Conditions.

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