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PPI Claims - Mis Sold PPI

Claim Back PPI

It is feared millions of people have been mis-sold payment protection insurance on a loan, mortgage, hire purchase agreement, store or credit card. Have you been affected and could you be owed thousands of pounds in compensation? Keep reading to find out whether your policy was mis-sold, how to make a complaint and how to claim back ppi.

Payment protection insurance is designed to cover a debt if a borrower is unable to work for a period of time due to redundancy, sickness or accident. The cover is not suitable for everyone, though, and for many people cheaper, more comprehensive cover is available elsewhere. Unfortunately, the cover was widely mis-sold meaning many people have policies they don't want, don't need or cannot use.

Below is a list of the most common reasons people choose to claim back ppi.

  • The customer was pressured into taking out a policy by a pushy salesperson
    Many salespeople made huge rates of commission from selling ppi and this prompted some to use unfair practices or high-pressure sales techniques. This could include anything from being given the wrong information to being made to feel intimidated. If this happened to you, you can claim back ppi.
  • The customer was not made aware of the terms and conditions of the policy
    Most ppi policies have a high number of exemptions meaning they are not suitable for everyone. Most policies, for example, do not cover pre-existing health conditions. If you were not asked about your medical history or were, incorrectly, told your existing health condition would be covered you can claim back ppi.
  • The customer was not made aware of the full cost of the policy
    If you were not made fully aware of how much your policy would cost you were not given the necessary information to make an informed decision. Ppi can cost anywhere between 13% and more than 50% of the core loan value. As most policies only cover minimum payments for a maximum of one year many policyholders could never hope to recover anywhere near the amount of money they paid into the policy. If you were mis-sold a policy in this way you could claim back ppi.
  • The customer was sold a policy despite being unemployed, retired or in full time education
    Ppi is, primarily, designed to cover the borrower if they are unable to work for a short period of time due to sickness, accident or redundancy. If you were not in employment when sold the policy it could, clearly, be of little or no benefit to you. If your circumstances made you unsuitable for the cover, you can claim back ppi.
  • The customer was not told the policy was optional
    Many people were, incorrectly, told they had to have the cover. This is, quite simply, not true. PPI cover has always been an optional extra. If you were told you had to have the cover you can make a claim.

If you believe you have been mis-sold a policy you are urged to make a claim. You have a legal right to make a complaint and it will not affect your credit rating or your relationship with your bank. To get started simply complete our quick claim form.

If you are unsure whether you can claim back ppi, call our customer care team on 0207 471 2000.

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Belmont Thornton Limited is regulated by the Financial Conduct Authority in respect of regulated claims management activities; FRN:838450

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

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* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

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