Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
PPI refunds could reach £2.7bn

UK lenders could issue around £2.7 billion in payment protection insurance (PPI) refunds, it has been revealed.

The Financial Services Authority (FSA) recently announced new guidelines which will force financial institutions to process 550,000 complaints a year for the next five years.

This will mean nearly three million British consumers could be awarded between £900 and £1,800 in compensation, depending on the type of policy they purchased.

Around 100,000 complaints have already been sent to the regulatory body, which overturns around 80 per cent of cases in favour of the consumer.

The FSA told the BBC: "These trends suggest that there is an even greater extent of mis-selling and potential consumer detriment than we had assumed in [2009] and that makes the need and case for an effective approach to addressing such detriment stronger, not weaker."

The estimated amount of total compensation is based on an assumption that certain firms will contact customers who may have been mis-sold PPI but not issued a formal complaint.

Posted by Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt ADNFCR-2776-ID-800023739-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

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 B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN 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.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide