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Claims against PPI

Consumers filing claims against PPI on a policy they were coerced into buying are often dismayed to realise there is no cover available to them. Lenders and independent producers have been mis selling PPI for altogether too long and even though government has established rules and regulations for the selling of personal insurance products, the problem is still a huge concern.

FSA Establishes PPI Guidelines

You will hear that payment protection insurance is nothing but a huge scam and this could be true in many cases. It really depends on how it is sold and whether or not claims against PPI cover are explained before the policy is sold. In a letter to CEO's of large and medium sized firms, the FSA (Financial Services Authority) spelled out the guidelines for selling payment protection insurance but it appears as if many of those companies are still not getting the point.

Full Disclosure Required

In dealing with the public, those selling payment protection insurance are to advise consumers that PPI is optional. They should provide clear and complete information about any costs associated with payment protection insurance, including interest on amortised one-time premiums. Furthermore, there needs to be complete understanding in regards to cover and eligibility in terms of claims against PPI cover. Too many policyholders are not enlightened in terms of the conditions and exclusions that are part of the policy and as a result would not be eligible for benefits if they were to file a PPI claim against them.

Emphasis on Needs of the Consumer

Perhaps the regulations which are being ignored most are those which state that the consumer be given an option to purchase a policy that 'best meets their needs'. In an effort to make greater profits, lenders are selling a blanket policy to all borrowers instead of one that is tailored to the individual's needs. Claims against PPI policies of this nature are very rarely honoured. And finally, in this five point directive, lenders have been mandated to offer a 'fair refund' if the policyholder wants to cancel a policy. There have been a significant number of complaints that lenders are denying cancellations and/or refunds.

Since there are so many issues involved in dealing with lenders and insurance producers, many individuals are turning to professional claims companies to assist them in PPI cancellations of single premium policies and in filing claims against PPI which was mis sold or misrepresented. Although the directives have been circulated for several years now, complaints are still pouring in that lenders and insurance producers are not being compliant and this is where the assistance of claims specialists can be of great benefit. Belmont Thornton, Belmont Thornton, is registered with the Ministry of Justice and is duly licensed to assist you win filing claims against mis sold PPI. For further information on our no win no fee* services call the claims team 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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