Have you ever invested in a financial product or service and used from an intermediary or broker to help you find the most suitable one? If they didn’t tell you about the commissions they earnt from your provider for their services, you might be able to claim compensation.
This could apply to any unsecured loan or a mortgage taken out prior to 31st October 2004. In many cases, consumers have paid back the commissions of their broker within their loan value without any knowledge.
This leads to the intentions of the intermediary being called into question, as someone with a duty to act in the customer’s best interests is being personally rewarded by certain commission structures.
Where these undisclosed commissions have been added to the loans, there is a clear case to claim compensation.