Banks are using payment protection insurance (PPI) charges as a way of subsidising low interest rates despite low claim rates, the Daily Herald reports.Despite the recent Supreme Court ruling in favour of banks over charges, finance providers have been required to reopen more than 185,000 consumer complaints over PPI claims.PPI is often sold with loans, although in many cases the policy-holders have been prevented from claiming because of loopholes or were unable to claim in the first place because the policy was mis-sold to them.The news provider also revealed that banks have been able to take advantage of low interest rates by trebling their profit margins on mortgage lending.With many consumers turning against PPI, some banks are looking to recoup their losses by squeezing mortgage customers harder.Recently, the Independent reported the story of an elderly consumer who was driven into A consumer was driven into debt by payment protection insurance (PPI) on his credit card without being fully covered by the policy.Belmont Thornton can help you make a PPI claim – Payment Protection Insurance Claim, or a credit card charges claim. For free PPI Claim advice call 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim pack or credit card charges claim pack.
Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk number 18273
Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.
Belmont Thornton Ltd is registered with the Information Commissioners Office to ensure compliance with the Data Protection Act 1998 registration number Z1728023 and holds a Credit Consumer License issued by the Office of Fair Trading license number 634655.
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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.