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Claim Back Loan Insurance

Claiming Back PPI

If you have ever taken out a loan, mortgage, credit card, store card or hire purchase agreement it is very likely you were offered a Payment Protection Insurance (PPI) policy and, if you took at this cover, there is a significant chance that it may have been mis-sold to you. For a policy to be considered mis-sold it must be shown that you were sold cover that was not suitable for your needs, you were sold a policy without being made fully aware of the details of the cover or that you were mislead with regard to some aspect of the cover.

Following investigations by The Office and Fair Trading and The Financial Services Authority it was discovered many leaders had mis-sold the insurance and, as a result, many customers have begun claiming back PPI.

If you are unsure whether your policy was mis-sold the list below should help. If you answer 'yes' to any of these questions you may be entitled to make a claim for compensation.

  • Were you told you had to have payment protection cover?
  • Were you told taking out the payment protection insurance would improve your chances of being given the loan?
  • Were you sold the cover without the full terms and conditions being explained?
  • Were you sold the cover without being made fully aware of the costs involved?
  • Were you sold a single-premium policy that did not cover the whole length of your loan?
  • Were you pressured into taking out the cover?
  • Were you unemployed, self-employed, retired or in full time education?
  • Did you have a pre-existing medical condition?
  • Did you have cover in place elsewhere?
  • Were you a civil servant or a serving member of the armed forces?
  • Were you entitled to full sick pay from your employer?
  • Was the payment protection policy added without your knowledge?

If you answered 'yes' to any of these questions then you could start claiming back PPI today by calling 0207 471 2000.

The amount of compensation you may be entitled to claim will depend upon the size and age of your payment protection policy. Examples of how two different types of PPI are applied are given below.

Credit card PPI is applied on a monthly basis depending on your outstanding account balance. Most credit card PPI policies cost approximately 79p per £100 outstanding. For example, if you owe £10,000 on your credit card you may pay around £79.00 per month for the cover.

Loan PPI is usually added at the beginning of a loan with the cost being added to the total debt. The cost of the policies can vary considerably, but are ordinarily between 13% and 25% of the loan value. On a £10,000 loan, therefore, you are likely to pay between £1,300 and £2,500 for payment protection cover plus interest.

If you feel the full cost of your PPI cover was not explained to you or that your policy was mis-sold to you in any other way, you can start claiming back PPI today by calling 0207 471 2000


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Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit 16, Elysium Gate, 126 New Kings Road, London, SW6 4LZ and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* 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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