Santander Investment Mis-selling

Have you lost money on an investment made with Santander? Were you given unsatisfactory financial advice at the time of purchasing? If so, we may be able to claim compensation from Santander on your behalf.

We’re experts in making successful claims for mis-sold investments from major high street banks. If you’ve lost out financially as a result of investment mis-selling by Santander – if you felt pressured by an adviser to take out an investment product, for example – we can help. Speak to one of our team, and we can usually confirm via phone if a claim is possible.

Is there a time limit on Santander investment mis-selling claims?

There are certain rules relating to timescales within which you can claim. The good news is it depends on your circumstances, so even if your claim originates from a long time ago, you can contact us to discuss your situation and we can tell you if you’re eligible to make a claim. If we find that Santander may have mis-sold you an investment, we can then prepare a claim and begin the process to get your money back.

More about Santander investment mis-selling

In 2013, the FCA revealed the results of a ’mystery shopper’ test to check on financial advisers selling investments on behalf of Santander. Despite a pledge from the bank the year before to put its advisers through intensive retraining, the test found that Santander was “still making basic mistakes” in its advice to consumers.

Since then, Santander has been embroiled in a number of stories around investment mis-selling. In one case, a 71-year-old was advised to invest £35,000 in a six-year-term product, despite not being asked any qualifying health or income questions. In another, a customer was told she could not move her investment to a less risky product without consulting an adviser from Santander. When none were available, the delay cost her a loss on her investment.

In 2014, the FCA handed out a £12.5 million fine to Santander for serious failings in the way it sold investments to customers between 2010 and 2012. It was one of the biggest ever retail banking fines. Another £45 million has since been earmarked by Santander for further compensation claims. The sum was included in a list of provisions for the bank’s 2014 financial results.

Claim back from Santander

Have you been a victim of Santander investment mis-selling? You may be able to claim your money back if, at the time the investment was made, you can say:

• You feel you didn’t receive the most suitable investment advice
• Your adviser didn’t fully discuss the types of risk involved in your investment
• You think you received an unsuitable investment

If you’ve lost money as a result of poor financial advice, it’s likely you have a claim. We can find out more about the circumstances surrounding your investment mis-selling by Santander, confirm whether you can seek compensation, and submit a claim on your behalf.