Belmont Thornton Logo
Claim Back Loan Insurance

Claim Back Insurance on Loans

Reading through all of the terms and conditions within a loan contract can be a lengthy and challenging process, which is why many borrowers skip through the fine print and jump at any opportunity to receive approval for a loan. This is especially true for subprime borrowers that are in search of business or home loans, as these customers tend to be more desperate for financial assistance. Lenders and financial institutions are known for recognizing and exploiting the desperation of clients by charging unfair fees and exorbitant interest rates. In addition, many lenders are mis-selling PPI (payment protection insurance) policies to earn commissions and add to the overall loan amount.

Facts about PPI Claims

During the last quarter of 2009 alone there were nearly 30,000 PPI claims filed in the United Kingdom, and hundreds of thousands of citizens have successfully reclaimed funds spent on a PPI policy during the past six years. In 2006 a thorough investigation was conducted by several financial authorities which revealed the extent and nature of PPI mis-selling in the UK. This resulted in an influx of lawsuits against dishonest lenders, credit card companies, and banks that mis-sold PPI knowingly. As such, many attorneys have begun specializing in helping victimized borrowers claim back insurance on loans.

What Is Mis-Sold PPI?

Mis-sold payment protection insurance is classified as any policy that is sold to an individual who is ineligible for, or inadequately informed of, the policy and its terms, conditions, cost, or existence. A policy is also ruled as mis-sold if the borrower was convinced that the policy was mandatory or somehow necessary for loan approval, or that it would be beneficial in situations that are not covered by the policy. For example, if you miss work and you're over the age of 65, cannot work due to back problems, stress, emotional issues, or pre-existing medical conditions, or already had a policy similar to PPI with another insurance company, you'd be deemed ineligible for coverage and would have no choice but to file a PPI reclaim.

How Can I Claim Back Insurance on Loans?

To claim back insurance on loans you'll need to file a claim against the lender or bank that Mis-sold you the PPI policy, not the insurance company itself. One of the reasons why PPI companies are reluctant to approve a large percentage of policyholders for coverage is that many people attempt to submit frivolous claims and claim back insurance on loans fraudulently. Thus, a payment protection insurance company is obligated to ensure that assistance is only given to policyholders that are truly eligible. However, lenders are also obligated to ensure that the clients they sell policies to are truly eligible and fully informed of the policy terms and conditions. If a lender fails to comply with these guidelines, the borrower will be able to claim back insurance on loans that included a mis-sold PPI policy with the assistance of a PPI claim company.


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