Belmont Thornton Logo
Claim Back Loan Insurance

Reclaiming PPI Letter Template

Many UK consumers have found that trying to reclaim mis sold PPI charges is even worse than pulling teeth because there are so many aspects of filing a claim and together they are just impossible to keep track of. For this reason, one of the most commonly searched for PPI claims products is what is referred to as a "Reclaiming PPI Letter Template". It stands to reason that they would think that all the information they would need in order to file a claim would be contained within, perhaps a few 'fill in the blanks', but this just isn't so. Each and every type of loan protection insurance is a bit different, even though similar in concept.

Variations in Loan Insurance

There are actually quite a few different ways in which payment protection insurance (PPI) is set up. Traditionally, it carries a onetime premium that is assessed at the time of the loan origination but there are certain types of PPI that are assessed monthly. One type of payment protection insurance that is based on monthly instalments would be overdraft protection on checking accounts. This PPI product can be mis sold in the very same way that loan insurance can be mis sold, the main difference being in how payments are established. For example, with overdraft protection a bank could tell the consumer that they would only qualify for a checking account if they carried this PPI product. In reality, it is illegal to base a bank account on an insurance product and this would constitute being mis sold. A reclaiming PPI letter template would need to be customized to detail specifics to overdraft protection whilst a reclaiming PPI letter template for a mortgage loan policy would pertain to specifics of those types of mis sold payments to be reclaimed.

Disadvantages of a Reclaiming PPI Letter

Of course that is just the beginning of the disadvantages of a reclaiming PPI letter. The main reason why it isn't good to base your claim on a letter is because that will not give the lender enough information to base a decision on. A reclaiming PPI letter should only be used as an introduction to what your purpose is to filing a claim. They are important in stating your reasons why you believe PPI was mis sold, but they would almost need to read like a doctoral dissertation to include all the material needed. For this reason it might be a good idea to consult with a professional claims management company. Most have developed a format for submitting PPI claims to lenders which includes having copies of all pertinent documents needed to substantiate the claim.

If you are looking to file a PPI claim against your lender or financial institution, Belmont Thornton has a staff of professional claims specialists on hand to answer any questions you may have. The initial consultation is provided free of charge and thereafter no fees will be assessed until they win your claim for you. With a no win, no fee contingency, Belmont Thornton is guaranteed to work diligently on your behalf.

Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
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 Financial Conduct Authority in respect of regulated claims management activities; FRN:838450

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