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PPI Claims - About PPI

PPI Claim News - 28/3/2010

Mortgage PPI costs increasing

Homeowners with payment protection insurance on their mortgages who have lost their jobs as a result of the recession are facing dramatic rises in the cost of their PPI cover.

According to the Financial Times, a number of mortgage payment protection companies - including Cardif Pinnacle, Assurant and Paymentshield - have increased their premiums, often by more than 70 per cent since January.

Steep rises have come about as a result of more people making claims on their insurance in 2009 after being unable to find work.

However, the rise comes just six months after the Financial Services Authority forced insurers to pay millions of pounds worth of PPI refunds for providing inadequate, over-priced mortgage insurance cover.

The FT notes that some of the insurers are increasing the amount of time that must have passed with a person out of work before they can make a claim from 30 days to 60 days, and also notes those with health problems could find it harder to obtain cover.

Among the most recent fines imposed upon insurers found by the FSA to be mis-selling PPI, Alliance and Leicester was forced to pay its customers £7 million in claims.

For free advice on how to make a PPI ClaimPayment Protection Insurance claim or a credit card charges claim then call Belmont Thornton on 0845 526 0000 or fill in the Quick Claim form to be sent a free PPI Claim pack or credit card charges claim pack.

Jennifer Haines
Jennifer's speciality knowledge is credit card changes and balance transfers.ADNFCR-2776-ID-19692984-ADNFCR

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