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In 2005 the Citizens Advice Bureau (CAB) lodged a super complaint against the PPI industry with the Office of Fair Trading and the Financial Services Authority. In response, the OFT, FSA and even the Financial Ombudsman Service (FOS) released multiple reports in the following years the revealed the extent and nature of PPI mis-selling in the United Kingdom. This negative attention resulted in tens of thousands of payment protection insurance claims being filed against lenders, brokers, financial institutions, and credit card companies that mis-sold payment protection insurance policies.

Loan Claims That Are Denied Due to Ineligibility

Borrowers are in a position to file loan claims that are related to payment protection refunds if their lender did not completely discuss the policy eligibility terms and exclusions for the PPI policy, or didn't adequately alert you of the policy premium. Though repayment assistance scenarios that are eligible for coverage can vary depending on the policy fine print, the majority of policyholders applicants will have their PPI claims denied caused by alleged coverage ineligibility.

Loan Claims That Are Caused by PPI Mis-Selling

To put the cost of a PPI policy into perspective - a £5,000 personal loan can carry a PPI policy that costs as much as £2,500. Being able to reclaim this amount within a matter of eight weeks could provide considerable repayment assistance for borrowers that are successful in claiming PPI insurance back. When the claims ratio of PPI policies is compared to that of other types of insurance (motor insurance has a claim ratio of 74%) it is not surprising that the FSA has been investigating and scrutinizing these policies for the past six years. The cost of a PPI policy can be as much as 13% to 56% (and sometimes even more!) of the total loan amount. In addition, the claims ratio for PPI policies is only 20%, meaning that for every pound spent on a PPI premium, payment protection insurance companies pay out only £0.20!

How to File Loan Claims That Can Provide a Full PPI Refund

Getting started with the PPI reclaim process is as simple as completing a claim form and taking part in a useful PPI reclaim consultation. Belmont Thornton has the skills needed to make contact with the necessary authorities and begin facilitating a Payment protection insurance refund with your lender. While most borrowers that file a claim against their PPI policy will be denied assistance, regardless of whether they've already paid a significant amount towards the policy, those that utilise the professional assistance of Belmont Thornton you can begin claiming back payment protection on credit cards, and avoid becoming yet another negative PPI statistic.


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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.

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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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