Belmont Thornton Logo
Claim Back Loan Insurance

Reclaim PPI Insurance

Payment protection insurance is perhaps one of the most widely publicized insurance products of our time as there is so much scandal surrounding it. Lenders throughout the UK are misselling it to customers, often without their knowledge, and as a result millions of UK consumers are eligible for PPI refunds. When totaled, those refunds are in the billions of pounds. That's just one indication of how widespread the problem is. However, because the problem is so widespread there is a backlog of consumers waiting for responses to claims they have filed.

Updates in Legislation

In recent months the British Bankers Association filed an appeal with the High Court over legislation that mis sold PPI claims had no time limitations. It was their feeling that any claims which predated the Financial Services Authority's jurisdiction over the industry's handling of PPI and PPI claims could not fall under the same legislation. The High Court recently ruled on the issue and upheld legislation. As a result, there is no time limit on when a person can reclaim PPI insurance that was mis sold and can claim a PPI refund as far back as when the insurance first hit the market over a decade ago.

Backlog of PPI Claims

It has been reported that bankers across the UK held onto claims that were coming in during the appeals process because they apparently had hopes that the legislation would be overturned. As a result there is now a backlog of claims which will need attention immediately and the BBA has stated that British bankers are adding to the workforce by about 6,000 strong to help process those claims as quickly as possible. The claims departments at financial institutions now have their work cut out for them as consumers are waiting to reclaim PPI insurance.

Confusion Where to File Claims

To compound the problem, many consumers are confused over just where they should go to reclaim PPI insurance which is just causing further delays for them. Because it is an insurance product many people feel as though they are supposed to file for a refund with the actual insurance company. Unfortunately, it doesn't work that way in this case as the insurance company didn't mis sell the insurance and they are not the ones guilty of misrepresenting the cover or adding unbeknownst to borrower's loans. It is the lender who should be filed against for misselling PPI and the lender that is responsible to make restitution.

There is one alternative which many consumers have found to be of help and that is to contact a claims management company to file their PPI claims for them. Belmont Thornton has a team of professionals who are at hand to answer any questions you may have in regards to filing a claim. The initial consultation is free of charge and if you choose to file through them there will not be a fee assessed unless your claim is won. With a no win no fee service, you can be sure you are getting the best representation because they want you to win. If you win, they win. It's as simple as that.


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 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.

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