PPI: IFA, MORTGAGE BROKER AND INTRODUCER REVENUE STREAM LAUNCHED BY TOTAL-RECLAIM.

TOTAL-RECLAIM

PRESS RELEASE

January 28, 2010.

PPI: IFA, MORTGAGE BROKER AND INTRODUCER REVENUE STREAM LAUNCHED BY TOTAL-RECLAIM.

PPI reclaim specialist Total-Reclaim (www.total-reclaim.net) has created a revenue-generation stream for mortgage brokers and IFAs who believe their clients have been mis-sold payment protection insurance (PPI), but don’t have the resource to drive clients’ claims through.

Introducers who hand potential PPI claims over to Total-Reclaim will receive between 25% and 40% of the amount Total-Reclaim receives from a successful claim.

“Generalist financial advisers who have focused on mainstream products, services and advice to their clients will have certainly seen a dramatic fall-off in revenues from key areas of lending in the past 12 months, but there is a way to recover some of that lost income ground,” said Daryl Vickers of Total-Reclaim.

"There’s a clear benefit from the loan boom years, because while the loan and credit card frenzy has clearly slowed, there is a massive legacy: banks mis-sold millions of PPI policies attached to those finance deals.

“We pay between 25% and 40% of the commission we receive back to the introducer on completion of a successful claim. We also pay a £50 advance of commission upon receipt of a claim from certain lenders - Halifax, Bank of Scotland, RBS, NatWest, Abbey, Alliance & Leicester & HSBC. We are so confident of success we will not ask for the £50 back even if we are not successful with the claim.

“But as well as the commission they receive from us, the introducer has the opportunity to advise customers on how best to use the reclaimed lump sum they receive from the lender and how best to use the monthly saving that comes from having the policy cancelled with the existing lender.

“For example, we’ve saved customers up to £270 a month. Our model also offers an ideal opportunity to receive new referrals from their client base. Once a customer receives a lump sum back from their lender they will tell everyone – it’s human nature.

“As we do not charge up-front fees, the introducer can also have total peace-of-mind that we will not put their integrity at risk by disappearing with their customers’ money. We have to have results to earn any commission.

“Every IFA will have clients who fell victim to mis-selling, and every one of them is a potential income generator through PPI reclaim.”

Total-Reclaim is fully approved and authorised by The Ministry of Justice to handle legal reclaims on PPI debt refund.

Ends

Further information:

Iain Macauley/Megan Codling
im@pressrelations.co.uk/mc@pressrelations.co.uk
07788 978800/07795 848586
http://www.total-reclaim.net/