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PPI Missold

Although PPI missold to consumers is an ever growing scandal, not all PPI is missold which means that not everyone is eligible for a PPI refund. For this reason it is vitally important to understand the difference between correctly sold payment protection insurance policies and those PPI missold policies that are at the centre of all the controversy of late.

What Constitutes PPI Missold Cover?

There are a few questions which could be asked when trying to determine whether or not a lender missold PPI. The first question is simply in regards to whether or not the borrower knew that the policy was being added to the loan. Next, it is important to determine whether or not the lender knew that the loan applicant was considered 'excluded' for such things as pre-existing medical conditions or perhaps job status. Only full time employees are eligible and they must not be working in a self-employed capacity. Furthermore, only individuals under the age of 65 are insurable under most payment protection cover. The details of the policy, including conditions and exclusions, must be fully disclosed prior to selling the insurance, unless the borrower agrees otherwise.If you can answer yes to any of these questions or determining factors then there is a good chance you are the victim of the PPI missold scandel which automatically makes borrowers eligible for PPI refunds.

PPI Missold Refund Process

If you believe your policy was mis-sold you have the right to make a complaint and you could be awarded compensation. The amount of compensation you may receive will depend on the age and type of PPI policy you have. Loan PPI for example, is usually calculated as a percentage of the overal amount and added at the beginning of the loan while card PPI is calculated on a monthly basis and is usually worked out at a rate of approximately 79p per £100 outstanding. Any refund awarded will be directly related to the amount paid in, but it is important to note you can make a claim even if you have already repaid your loan in full or no longer use your card.

Belmont Thornton, Ltd. / Belmont Thornton has a team on hand to answer any questions you may have in regards to missold payment protection insurance and/or whether or not you meet the criteria to file for a refund. Contact the claims team on 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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