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Lloyds PPI Claims

Why You Can Make A PPI Claim Against Lloyds

  • Did Lloyds explain the full cost of the PPI when you took out the loan?
  • Did you specifically ask Lloyds for PPI?
  • Did Lloyds make clear that PPI was optional?
  • Did Lloyds ask you about your medical history?
  • Did Lloyds ask you about any existing payment cover?
  • Did you know that Lloyds added a PPI policy to your loan?
  • Do you think Lloyds treated you fairly?
  • Did Lloyds ask if you have any existing medical conditions?
  • Did Lloyds ask if you were entitled to sick pay from your employer?


In December 2010 The British Banking Association (BBA) requested a high court review of new Financial Services Authority (FSA) guidelines regarding the sale of payment protection insurance. The new guidelines were introduced by The FSA in an attempt to prevent a repeat of the mis-selling scandal that has dogged the financial world for several years. The BBA was unhappy with the new guidelines; however, claiming The FSA was trying to force them to apply new rules retrospectively. The FSA dismissed this notion, though, stating "These principles have been in place for a very long time and are nothing new."

In April 2011 the High Court returned its verdict finding in favour of The FSA and the consumer. As The BBA mulled over whether or not to challenge the ruling, Lloyds made the decision to break ties with the BBA regarding the matter. In a statement their chief executive, Antonio Horta-Osorio, said: "We will no longer be participating in the BBA's judicial review." With this loss of support, the BBA was placed in an untenable position. Other banks quickly followed suit and an announcement that there would be no legal challenge quickly followed.

As the first to break away from the BBA, Lloyds had already made headlines, but it quickly followed its decision with the announcement it would be allocating £3.2 billion in funds to deal with Payment protection Insurance crisis. The figure includes the cost of staffing and administrating the process as well as compensation for those who are found to have been the victim of mis-selling.

Including policies sold through Halifax and Bank of Scotland, Lloyds is estimated to have sold between 3.5 and 4 million Payment Protection Insurance policies. The cover was sold on mortgages, loans and credit cards provided by the company in branch as well as over the telephone. It is difficult to estimate how many of these policies have been mis-sold, but in the second half of 2010 The Financial Ombudsman Service received 89,811 complaints regarding Lloyds many relating to PPI sales. This figure ranks the bank third overall in terms of payment protection complaints for this period. It has been a difficult year for the lender after it reported a 9% fall in profits in the first quarter of the year. With the allocation of such a significant amount of money, though, it seems Lloyds is keen to draw a line under the PPI fiasco.

If you believe you have been mis sold ppi you can start your claim today by call us on 0207 471 2000. If you are still not sure whether your policy was mis-sold, take a look at our PPI mis-selling summary below:

What is PPI?

PPI stands for payment protection insurance. It is a type of insurance cover sold with loans, mortgages and credit cards. The insurance is meant to cover debt repayments if the policyholder cannot work due to accident, sickness or redundancy. The policy has become controversial, though, as it has been frequently mis-sold. If your policy was mis-sold it means you may be paying for cover that is of little or no use to you and we you may never actually be able to use.

How was PPI mis-sold?

There were many ways in which PPI was mis-sold some of the most common include customers being given the wrong information or being given inaccurate information regarding the costs and terms of the cover. This was often due to a lack of staff training and understanding of the product, but, in some cases, the lure of high commission did lead staff to use underhanded or high pressure sales techniques.

Unfortunately, again due to a lack of training and a pressure to sell policies, many customers were also sold payment protection cover that was unsuitable for them. Most PPI policies have a high number of exclusions. This means, there is frequently no provision for pre-existing medical conditions and many policies do not cover people over the age of 65.

Remember you can claim PPI refunds even if your loan or card has been paid off and it will not affect your credit status. Many customers receive a welcome lump sum of money while others see a significant reduction in their outstanding debts. Our average customer claim is £2,500 and we have already recovered over £50 million for our customers. If you have any questions regarding Payment Protection, with Lloyds or any other bank, or you’d like to know more about the reclaim process call our team on 0207 471 2000.

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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.

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