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Barclays Bank PPI

Since 2006 1.5 million unhappy customers have made complaints regarding the sale of payment protection insurance. The figure is significant and gives a small indication of the size of the PPI mis-selling issue and the number of customers affected. If you have not registered your claim recent developments mean there is now no better time to do so.

In May 2011 The High Court ruled against the British Banking Association making way for new FSA rules regarding the sale of PPI. Following the news major banks including Barclays, HSBC and Lloyds announced the allocation of funds to compensate victims of mis-selling and, most recently, Barclays announced it would settle all Barclays Bank PPI claims made before 20th of April on a ‘no-quibble’ Basis.

These developments are all excellent news for victims of mis-selling seeking ppi refunds as they show a marked change in the attitude of banks to PPI claims. In the past many lenders have been accused of refusing to acknowledge failings connected with PPI mis-selling and rejecting claims without thorough investigation. It is thought that lenders will now attempt to settle more claims internally, though, in order to avoid the fines associated with claims being referred to the Financial Ombudsman Service.

If you are unsure whether you can make a Barclays Bank PPI claim the information below should help. If any of these circumstances applies to you, you could make a payment protection claim.

You could make a claim if...

The full cost of your policy was not fully explained to you. Loan PPI can cost between 13%-56% of the core loan value. On a £5,000 loan this is an additional £650-£2,800 plus interest. Credit Card PPI is usually calculated on a monthly basis and charged at approximately 79p per £100 outstanding on the balance. On a £5,000 balance this equates to £39.50 per month or £474.00 per year.

You could also make a Barclays Bank PPI claim if....

Your circumstances made you unsuitable for payment protection cover. Many PPI policies have a high number of exemptions meaning not everyone can be covered. Common exemptions include pre-existing medical conditions and people over the age of 65.

Or...

You had cover in place elsewhere or were entitled to sick pay from your employer. As part of your evaluation your lender should have assessed whether you needed PPI. If you had cover in place or were entitled to sick pay from your employer you may not have required the cover.

Or...

The policy was added without your knowledge or consent. During their investigations into the mis-sale of payment protection insurance the FSA found some instances where PPI was added without the customer’s knowledge. You should check your original loan agreement or a recent statement to ensure this did not happen to you.

Or...

You were led to believe that taking out the PPI would secure the loan. Sales staff were often given large rates of commission on PPI sales. This, in some cases, led to the use of high-pressure sales techniques and unfair practices including giving customers the wrong information. Taking out PPI would not affect your credit rating or your suitability for the loan and would not improve your chances of your application being granted.

If you would like to make a Barclays Bank PPI claim, or a claim against any other lender, call us today on 0207 471 2000.


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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.

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* 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.

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