Payment Protection Insurance Terms and Conditions

MG Financial Limited



1. Our Service

1.1. We are MG Financial which is a trading name of MG Financial Limited registered in England and Wales with registered number 06547196, Registered Office Address: Orchard House Halsall Business Bark Summerwood Lane Halsall Lancashire L39 8RG. MG Financial Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities. CRM14650.

1.2. MG Financial Limited provide mis-sold payment protection insurance claims services. We can examine your credit agreements to see if they contain payment protection insurance and where it was mis-sold to you we will make a claim for compensation on your behalf. In summary:

1.2.1. Once we have received your completed documentation we will investigate your claim by obtaining copies of any documentation from your loan provider, insurance company or bank (unless you can provide these to us). This documentation may include: Bank Statements PPI questionnaire

1.2.2. If we discover that you have payment protection insurance we will send you a questionnaire to complete to enable us to assess whether it was mis-sold to you.

1.2.3. If we think the payment protection insurance was mis-sold we will submit a claim to your lender. They have 8 weeks in which to respond to this although it may take longer.

1.2.4. Where your claim is rejected by your lender we may submit it to the Financial Ombudsman Service for consideration. We will tell you before we do this.

1.2.5. If your lender no longer exists we will submit your claim to the Financial Services Compensation Scheme.

1.2.6. If your claim is successful and you receive compensation we will charge you our Success Fee as shown in clause 3.1 of this agreement.

1.2.7. If you decline an offer of compensation which we advise you to accept and which is consistent with the Financial Ombudsman guidelines, our service under this agreement will be complete and we will charge you our Success Fee as shown in clause 3.1 of this agreement.

2. Your obligations

2.1. You appoint us as your agent so that we can liaise with your Creditors.

2.2. You must ensure that you always supply truthful and accurate information.

2.3. You must forward any correspondence which you receive regarding your claim to us.

2.4. You must promptly reply to any request for further information and documents we make.

2.5. You must pay our fees within 14 days of receiving an invoice from us. You should consider how you will pay our fee if compensation is awarded to you in the form of a reduction in an outstanding balance or arrears, or if you decide to decline an offer of compensation which we recommend that you accept.

3. Our Fees

3.1. We will charge you either (i) a Success Fee of 25% + VAT of any compensation which you receive or if you decline an offer of compensation which we recommend that you accept and which is consistent with the Financial Conduct Authority and Financial Ombudsman guidelines, we will charge you (ii) a Success Fee equal to 25% + VAT of the compensation which was offered to you and which we recommended that you accept. For example:

3.1.1. if you receive £2000 in compensation we will charge you £500 + VAT leaving you with £1400.

3.1.2. If your lender deducts £1000 from your outstanding balance we will charge you £250 + VAT of the offer amount.

3.1.3. If you receive £1000 in compensation and £2000 deducted from your outstanding balance we will charge you £750 + VAT of the offer amount.

3.1.4. If you were to decline any offer of compensation which is consistent with the Financial Ombudsman guidelines, and which we recommend to accept, we would charge you 25% + VAT of the offer amount.

3.2. You should be aware that compensation means benefit which you receive as a result of our service and as shown in the examples there may be situations where the compensation is deducted from your existing balance and you will still have to pay our fee.

4. Cancellation

4.1. If you decide that you do not want to proceed with our services you can cancel your contract by writing to us at anytime.

4.2. If you cancel during the first 14 days after you sign this agreement you will not have to pay any fee

4.3. We can cancel this agreement if you materially breach any of your responsibilities and you fail to rectify your material breach within 21 days of Us telling You which We will attempt to do by both telephone and post.

4.4. If this agreement is cancelled after the fourteenth day, by either you or us (in accordance with clause 4.3), we will not charge you for any work that we have undertaken.

5. Complaints

5.1. Please contact Us if for any reason You are dissatisfied with Our service.

5.2. We are committed to resolving complaints as quickly as possible. In the event that You wish to make a complaint, please contact Us in writing, by email or by phone. We will acknowledge receipt of the complaint with 5 working days and provide a copy of Our full complaints handling procedure. We have a maximum of 8 weeks in which to respond to your complaint but We hope to resolve matters within 28 days.

5.3. If You are dissatisfied with the handling of your complaint, or if we don’t provide a full response within 8 weeks, You can refer the matter to the Claims Management Regulator.

5.4. The Claims Management Regulator can be contacted in writing at 57-60 High Street, Burton upon Trent, Staffordshire, DE14 1JS. Tel: 0333 200 0110 E-mail:

6. Other important information

6.1. You are entitled to seek further advice in relation to your claim and to consider what services might be most appropriate to your claim for compensation. In particular you have the right to shop around and you should be aware of the services provided by the Financial Ombudsman Service.

6.2. The provisions of the Contracts (Rights of Third Parties) Act 1999 are excluded from this agreement which means that only you and we have any rights under this contract. However if you ask us to liaise with anybody else on your behalf in relation to this contract we will do so provided that you give us your written permission.

6.3. Our service is personal to you and for this reason you are not able to assign this contract to any other person,

6.4. We can assign our rights and responsibilities in this contract provided that the person we assign it to agrees to provide the same services to you in accordance with this contract. We will write to you before any assignment is made to ensure that you are aware that it is happening. You have the option to cancel your contract without charge in these circumstances.

6.5. You should be aware that as with any claim there is a small risk that it may result in Court proceedings although in the highly unlikely event that this were to occur we would continue to provide our services and arrange for you to be represented by a solicitor. In order for the solicitor to represent you it will be necessary for you to enter into a contract with the solicitor for the provision of their services. If you do not wish to continue with your claim at this point you may cancel your contract and only pay the cancellation charges set out at clause 4.4

6.6. You should consider whether you have alternative mechanisms for pursuing a claim i.e. legal expenses insurance.



You should only sign this agreement if you have read it and understand it and agree to be bound by its terms







Right to cancel

You have the right to cancel this contract within 14 days without giving any reason.

The cancellation period will expire after 14 days from the day of the conclusion of the contract.

To exercise the right to cancel, you must inform us MG Financial Limited, 25 Orchard House, 17 Summerwood Lane, Halsall Business Park, Halsall, Lancs, L39 8RG,, (Tel: 01704 842860) of your decision to cancel this contract by a clear statement (e.g. a letter sent by post, fax or e-mail). You may use the attached model cancellation form, but it is not obligatory.

To meet the cancellation deadline, it is sufficient for you to send your communication concerning your exercise of the right to cancel before the cancellation period has expired.

Cancellation Notice

To: MG Financial Limited, 25 Orchard House, 17 Summerwood Lane, Halsall Business Park, Halsall, Lancs, L39 8RG,, (Tel: 01704 842860)

I/We [*] hereby give notice that I/We [*] cancel my/our [*] contract of sale of the following goods [*]/for the supply of the following service [*]

Ordered on [*]/ received on [*]

Name of consumers:


Address of consumers:


Signature of consumers (only if this form is notified on paper):



[*]Delete as appropriate