Belmont Thornton Logo
Claim Back Loan Insurance

Payment Protection Insurance Complaints

As a result of numerous payment protection insurance complaints leveled against lenders, they are now being forced to compensate borrowers for mis sold PPI cover. Loan insurance is not only expensive but it rarely provides cover for the people who need it the most. To compound the issue, a good percent of the people who were sold PPI didn't even know they were paying for it. In fact, they were never even offered the option to purchase it, it was simply attached to a loan on origination. Payment protection insurance complaints have continued to pour in and loan protection insurance complaints will probably still be doing so for years to come.

Weighing PPI Complaints against the Need for Loan Insurance

Although there are literally thousands of payment protection loan complaints that are continuing to mar the lending industry's already tarnished reputation, loan insurance in and of itself is not necessarily a bad thing. At least in principle it isn't! The concept of having cover that makes payments on loan when the borrower suddenly loses a job or becomes too ill to work is a good thing. However, Loan insurance can be very expensive and there are a high number of exemptions meaning many people, who believe they are, are not actually covered. The FSA had recently introduced tough new guidelines for the sale of loan insurance Which should, hopefully, see instances of mis-sale decrease considerably.

What Is Being Done about All Those Complaints?

Mis sold payment protection insurance has actually been a problem for at least the last decade but it wasn't until the Citizens Advice Bureau (CAB) took note of the sheer number of complaints submitted to them in 2005 that something was done about the problem. After having launched a major campaign against lenders who were propagating mis sold PPI, CAB went about raising public awareness. Now consumers are more aware of the problem which enables them to take steps to claim back mis sold PPI as well as providing with the knowledge to arm themselves against being mis sold in the future.

Whilst you may not know if you personally have been affected by mis sold loan protection insurance, there is a good possiblility that one or more of your loans or bank accounts within the past decade had a form of payment protection insurance attached to them. Belmont Thornton's claims team are always on hand to help consumers determine whether or not they have been mis sold payment protection insurance. If you have any questions or would like help filing a claim you can call the claims team at 0207 471 2000


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

Why Choose Us?

  • TickAbsolutely No Upfront Costs. No Win No Fee*
  • TickSpecialist Claims Team Always On Hand To Answer Your Questions
  • TickQuick, Easy And Simple Process
  • TickU.K. Based Call Center
  • TickGuaranteed To Start Your Claim In 24 Hours

Loan claim: Building societies warn of house price bubble

The Building Societies Association (BSA) is the latest to warn about the potential house price bubble that could arise f...

Bank claim: Lloyds raised concerns on Co-op finances

Lloyds Banking Group was aware that the financial position of the Co-Operative bank was unstable, said Lloyds chief exec...

Loan claim: first time buyers locked out for a decade

First time buyers will have to save up their deposit on a house for more than ten years, according to research from the ...

Bank charges: Commission tackles issue of RBS

The weak position of the Royal Bank of Scotland (RBS) is damaging to the UK economy, according to the Parliamentary Comm...

Bank charges: Report says customers and taxpayers were failed

Customers and taxpayers have been failed by the financial sector, according to the final report from the Parliamentary C...

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 B16, 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