"CEL already had three incredibly strong practice areas, so to be adding to the mix and heading up a new arm of the business is exciting and signals a new chapter for the team"
Liverpool-headquartered CEL Solicitors has expanded its board of directors as it launches a new practice area to tackle the growing number of financial mis-selling claims from consumers.
Headed up by financial litigation expert Elaine Walker, the new department is dedicated to supporting and assisting those who have experienced ‘financial mis-selling’, most commonly experienced among those who have been given unsuitable advice relating to mortgages and pensions.
Financial mis-selling cases, or Plevin claims, are when a lender was paid what is deemed an unfair amount of commission for a PPI claim without the consumer’s knowledge.
Elaine, who has more than 18 years’ experience in the industry, joins the firm’s 30-strong team at CEL, which also specialises in housing disrepair, data breach and Japanese Knotweed claims.
Her role will include growing the new practice area’s team, developing processes and building contacts, primarily focusing on Plevin claims to begin with.
Related to the high level of commission earned by a lender or broker for recommending a particular product, Plevin claims arise when the consumer is not aware of this process and has this commission added to the cost of their PPI. This means that many PPI mis-selling cases which were originally rejected can now be reconsidered.
Elaine said: “I’m extremely honoured to be joining such a dynamic team here at CEL Solicitors. Helping raise awareness of Plevin to mitigate the impact of financial mis-selling is something I’m extremely passionate about. It is widely accepted that the PPI deadline had passed, and while this is true for the claims themselves, it is still possible to claim against the high levels of commission alone.
“In some cases, this can be up to 67% of the PPI claim, so it’s an issue that is gathering momentum as more people begin to understand it.”
Elaine added: “CEL already had three incredibly strong practice areas, so to be adding to the mix and heading up a new arm of the business is exciting and signals a new chapter for the team.
“I can’t wait to hit the ground running and look forward to building a team of financial mis-selling experts.”
To be eligible for a Plevin claim, claimants would not have had the risks associated with the financial product explained to them, or given full information upon purchasing.
Following Elaine’s appointment, CEL is now looking to grow its wider team further, with the data breach department looking to increase in size.
Jessica Hampson, owner and director at CEL Solicitors, said: “We’re absolutely thrilled to announce our new department, expanding our core practice areas and driving recruitment across the business.
“We remain incredibly passionate about maintaining our ‘people before profits’ ethos, and we’re confident Elaine will align perfectly with what we stand for. We are always on the lookout for new talented people to join the team across all practice areas, and we look forward to being able to welcome more new faces and help an increasing number of clients receive the outcomes they deserve."