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Getting Loan Protection Back

Any time something has been taken from you against your knowledge or against your will, the first thing you can think of is how to get it back, if at all possible. For so many years consumers have been mis-sold payment protection insurance and for several of those years at the very beginning it was all but impossible to claim back money that was taken from them. Getting loan protection back is now possible largely due to the efforts of the Citizens Advice Bureau, CAB, who launched a super campaign against lenders misselling payment protection in the year 2005. As a result of their campaign be Financial Services Authority, FSA, was given jurisdiction over the sales and administration of payment protection insurance and now consumers have the right to claim back money paid into mis sold cover.

Getting Loan Protection Back the Easy Way

Procedures are in place for filing a payment protection claim but even so this can be a time-consuming and frustrating endeavour. You must first determine what the grounds for your claim will be, meaning that you will need to be able to document how payment protection insurance was mis-sold to you by the lender. Next you will need to know how much you will claim when getting loan protection back. Depending on what kind of loan you are talking about, this can be a bit complicated. Whilst single premium PPI loans are pretty straightforward calculations if you know the percentage you were being charged, getting loan protection back from credit cards is usually a little more difficult to calculate. Because of this, a good many UK consumers choose to file PPI claims through third party claims management companies such as Belmont Thornton, Belmont Thornton.

How Much Can I Expect to Claim Back?

Once consumers know that getting loan protection back is possible by filing a claim, they want to know how much you can expect to claim back. This amount is different with every claim because, as mentioned above, payment protection insurance premiums are based on a percentage of the amount being borrowed. For example, if you were to take out a mortgage loan for £100,000 and you were charged a rate of 46% then quite obviously you would be paying £46,000 above and beyond the amount you had intended to borrow. The whole loan then is amortized over a set period of time on the amount of £146,000. Even if two people have the same amount they wouldn't necessarily have made the same number of repayments. So you can see how there is no way to tell you how much you can expect when getting loan protection back without knowing all the details. Even so, the average PPI refund is approximately £2,700.

If you are ready to claim back what is rightfully yours contact the claims team at Belmont Thornton on 0207 471 2000. We have been serving UK consumers in getting loan protection back and have successfully won back thousands of PPI claims. You can join their ranks and it is as easy as making a two-minute phone call and filling out an easy quick claim form.


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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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