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PPI Deadline

PPI insurance is usually sold at the time a form of credit is approved for a borrower. This can be loans in the form of mortgages, personal loans, credit cards and others. Unfortunately, many situations give rise to mis sold PPI. One of the common situations is where the borrower unknowingly purchases PPI. Unbeknownst to them, the entire cost of the insurance is added to the loan amount being requested and therefore the monthly instalments to the lender, with interest, are inclusive of payment protection insurance.

Expensive and Optional Cover

PPI can be very expensive and it is an optional cover the borrower has a right to know about. The borrower also has the right to refuse coverage. As a result of so many cases of mis sold PPI, The Financial Services Authority, The Office of Fair Trading and The Citizens Advice Bureau have launched investigations. Based on what they found, fines have been dealt out to some lenders regarding mis sold payment protection. Individuals affected by this miselling have the right to reclaim PPI, however very often individuals involved in these situations ask the question "Is there a PPI deadline?" or make the statement "I believe my claim has gone past the PPI deadline."

Financial Services Authority Review of PPI Scam

The Financial Services Authority conducted a detailed review on payment protection insurance in 2006 and from 2007 onwards institutions were fined for exposing borrowers to a high level of risk under the terms and conditions within which PPI was sold. Whilst the year 2006 is not a PPI deadline it has set some guidelines for the submission of mis sold payment protection claims. Borrowers within the last six years, whether the loan is ongoing or paid in full, can submit a PPI claim if necessary to the lender. Borrowers with loans in excess of six years but still ongoing or discontinued within the last six years may also qualify for a PPI claim.

Age of the Loan Can Affect PPI Deadline

Loans taken out alongside PPI and discontinued prior to the last six years can qualify for a reclaim, however advice should be sought from a professional who can establish if a PPI deadline is applicable to the situation at hand. It is important that claimants understand the further back a PPI claim is taken, the more difficult it becomes to recall the facts and to obtain the original document as it pertains to the form of credit obtained at the time. This is an indication that the age of the loan can set a PPI deadline.

Belmont Thornton Limited - Belmont Thornton is committed to handling PPI claims as far back as the last six years but in some cases may take mis sold PPI cases as old as ten years. The company will work along with individuals to firstly confirm that a claim for PPI exists and thereafter begins the process to reclaim the payment protection insurance from the lender. With a proven track record claims can be settled in as little as eight weeks. Contact the qualified team at Belmont Thornton today at 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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