Three Ways To Make Sure You Receive All The Refunds You Deserve From A PPI Claim

The Financial Conduct Authority has made it official in March that the PPI claims deadline would be on August 2019. UK consumers would only have two years to make their PPI claim successful and to do so, they would need to compile all their PPI billing statements, coordinate with their lender effectively and know the best avenues to ensure they could achieve success with their PPI complaints.

It is possible to keep all of consumers’ billing statements when repaying their loan, mortgage or credit card. But paperless transactions make it easier to procure all these statements. Unfortunately, banks have a six-year policy that bars access to account activity beyond six years. A data access request, which costs about £10, enables consumers to find all their billing statements in one place.

The UK’s Financial Ombudsman Service focuses on ensuring consumers resolve their issues with banks quick and effectively. If one perceives the bank to have rejected their complaints unfairly, consumers could pass their complaint to the Financial Ombudsman Service, who often gives banks a three out of 10 chance given the banks’ unfair evaluation method for PPI claims.

Lastly, even if the 2019 deadline pushes through, consumers could still reclaim their refunds for mis-sold PPI because consumers have the right to complain about fraudulent products and banks have the right to evaluate and declare the possible truth behind a consumer’s complaint through careful evaluation.

Food Industry Warns of Higher Prices After Brexit

Many leading food industry organisations have warned that prices could rise after Brexit. Farmers, retailers, and supplier businesses have joined together in urging Prime Minister Theresa May to prevent this by securing a new free trade arrangement with the European Union.

A joint letter was written by the National Farmers Union (NFU), the British Retail Consortium (BRC) an the Food and Drink Federation (FDF) calling for the government to secure a new deal ensuring free trade with the European Union after Brexit. Failure to do so, they said, would lead to rising prices on many everyday food and drink items as imports became more expensive.

Speaking to journalists, BRC director general Helen Dickinson said: “To keep prices low for consumers, it is particularly important that we don’t have any new tariffs and we maintain frictionless movement of goods and put consumers at the heart of this.” She also said that the EU was the UK’s biggest trading partner for food by some margin, meaning that the effects of higher tariffs on food prices could be far-reaching.

Food and drink prices have already begun to rise since the polls closed on the referendum and the decision to leave the EU was announced. This, however, has not been because of anything affecting the UK’s trade deal with the EU at this stage. Rather, it is a result of a rapid fall in the value of the pound, which has shifted exchange rates against UK businesses and made imports from other markets effectively more expensive even when the prices have been unchanged on paper.

Theresa May is expected to trigger Article 50, which will begin the process of the UK’s formal withdrawal from the EU, on Wednesday. The Prime Minister has previously threatened to walk away from the EU with no new deal at all if talks should turn sour.

A separate call to ensure that a new free trade agreement will be reached has been made by the EEF, an engineering group. The EEF’s chief executive Terry Scuoler described the EU as “our sector’s single biggest trading partner in a complex, tightly interwoven trading environment.”

Scuoler also voiced concerns about using World Trade Organisation (WTO) rules as a fallback, something the government has previously suggested as a possible solution. He said that there was a lot of variance in WTO rules between different sectors, and some industries would suffer badly as a result of such a move.