Thursday 25 July 2024
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The New PPI: Cavity Wall Insulation (Mis-selling/Faulty installation)

The New PPI: Cavity Wall Insulation (Mis-selling/Faulty installation)

Have you had a cavity wall insulation installed on your property?

This is a question that many people up and down the United Kingdom will be asked during the course of the next few years, this is because there are millions of households in and around the UK that have been affected by issues with this building practice, both the mis selling and also faulty installation, (both of these have resulted in cavity wall insulation claims).

People in Britain are used to hearing about the payment protection insurance claims issue, with millions of cold calls going out to British residents each year.

The issues with cavity walls:

Firstly there is the issue of faulty cavity wall insulation: this is where building work has been carried out that is defective and has caused long term damage to the property, the costs to fix the issue can be heavy and the long term effects (if left unfixed) can be severe, the work required to fix the problem can be extensive and time consuming, the cost to remove the material in a cavity wall can be approximately £22 per metre squared.

Next there is the issue of miss sold cavity wall insulation, and whilst the two aren’t mutually exclusive these are two seperate issues in their own right.

Cavity wall insulation has been miss sold repeatedly for years in England and Wales, with millions of people hiring building contractors to carry out work that was unneccesary and often defective.

Both of these issues can lead to compensation.

There reason this emerging market is rumoured to be the “New PPI Scandal” is because of how widespread the problem is with the amount of people who have suffered issues of some type with cavity wall insulation.

It is estimated that 13.4 million homes have received a cavity wall insulation, the amount of homes which have been subjected to poor quality worksmanship, not to mention miss sold insulation.

How much compensation can the claimants win?

Typical compensation amounts range between £10,000-£23,000 for successful claims, some people have won payouts that have exceeded this amounts in excess of £25,000.

With the PPI claims epidemic reaching it’s conclusion on the 29th August 2019, the cavity wall claims issue emerges and promises to be another huge claims epidemic, which could yield compensation totals extending into the billions.

The sheer volume of complaints will increase the need for staff to handle the processing of the cases, which will cause an increase in demand for people with call centre and legal/financial services experience, and it’s likely there will be rulings which will pave the way for an influx of cavity wall insulation claims.

How long do cavity wall claims take to pay out?

Current expected times from the beginning to end are estimated at this point to be in the region of 12-18 months from beginning to end, meaning it could be a wait of up to 18 months for clients to receive their compensation.

Are there any fees payable by the client to make a cavity wall installation claim?

No fees will be payable by the client, the compensation will include the claims management companies fees which will be part of the total sum instead of the client paying out of their compensation.