The large number of payment protection insurance (PPI) claims expected to be settled this year will provide many Britons with a financial reprieve. This is the view of UK economist at the National Institute for Economic and Social Research Simon Kirby, who told the Financial Times that the compensation will have a similar impact to a tax cut in the UK. Indeed, he added that many of the people who fell foul of mis-sold PPI are, by definition, reliant on credit and many will be in debt. Banks are expected to part with as much as £10 billion to cover PPI cases over the next few years and Mr Kirby believes this comes at a good time for consumers who are continuing to struggle in the current economic climate. "It is a boost to income", he told the news provider, adding: "It's temporary, it's timely and it is to some extent targeted." The same publication reported last week that consumer group Which? was the latest organisation to call for bank bosses to reclaim the bonuses paid to staff who were directly involved in the mis-selling of PPI. Charles BakerCharles is a reputed financial analyst with decades of experience under his belt.
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.
Please note that calls may be recorded and email traffic monitored for the purposes of security and 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.