Mis-Sold Bond Compensation Solicitors - Mis-Selling Claims

SOLICITORS HELPLINE: ☎ 0344 414 0017

Our mis-sold bond compensation claim solicitors offer no win no fee advice on the mis-selling of financial products. Thousands of consumers purchased investment bonds totalling over 5 Billion and under the guise of Guaranteed Income Bonds, Precipice and With-Profits Bonds, many now face withdrawal penalties in excess of 50% of their original investment value.

    FACT - 1,000,000+ consumers purchased these products

    FACT - Only a fraction of them have made a claim

    FACT - Unless you act quickly, your claim may be time-barred

These bonds were sold as an alternative to bank and building society deposit accounts by independent financial advisers, direct sales forces and bank salesmen. Not so well known however is the fact that single premium investment business is much more profitable to the banks and investment houses yet exposes the consumers (often pensioners) to an extremely high risk market.

In The News

A damning report, published by the Actuarial Profession's with-profit bond working party, was a point-by-point indictment of the practices that have since left so many savers' dreams in ruins. With advisers often pocketing in excess of 7% sales commission it is no wonder that these products have brought so much misery. The victims of this scandal should take specialist advice on mis-selling from a mis-sold bond compensation claim solicitor without delay.

Many consumers were told their money was tied up for only five years during which time they could expect an income in the form of annual bonuses. Although some consumers can withdraw up to 7.5% a year penalty-free as income, this income is produced only by eroding the capital investment value.

Since the report was published, with-profit funds have gone into meltdown as a result of stock market turmoil and in many cases bonus rates have been slashed to nil with many funds being closed to new business.

The report warned: 'There is a risk that purchasers may think that they are buying a very safe bond when in fact their encashment value is to a large extent in the hands of the company. This needs to be made very clear in the pre-sales literature, as does the company's policy in respect of the application of MVRs.'

Mis-Sold Bonds

Market Value Reduction Factors or MVR's, designed to cushion the effects of a drastic market fall can reduce as much as a quarter of the value of the consumer's funds if they try to escape the clutches of the bond companies.

Although you cannot complain about the poor market fund performance, you can complain If :-

    The true nature of the underlying risk was not fully explained and documented; or

    The adviser failed to explain the effect of the MVR on your investment

The majority of consumers neither understood the effect, nor the consequences of these outcomes because they believed the products were guaranteed to be free from any element of risk.

Specialist Litigation Solicitors

Our mis-sold bond compensation solicitors offer a no win no fee claim service for mis-sold bonds. If you are one of these unfortunate people who were mis-sold, you may be entitled to compensation and you should contact us now. You only have one opportunity to make a claim. If you get it wrong you may lose your chance for compensation.

Why not get expert support to greatly improve your chances of securing the maximum compensation you deserve using our no win no fee service? We call upon experienced lawyers, accountants and actuaries to assist our claims team and can advise at an early stage on the prospects of recovery of compensation. If you would like free advice on our no win no fee compensation scheme just call the helpline or email our offices and an experienced financial claims adviser will discuss your potential claim at no cost and with no further obligation.

SOLICITORS HELPLINE: ☎ 0344 414 0017