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PPI Re Claim

The rise in the number of PPI claims in the last six years has been shocking with more than 1.5 million complaints regarding the cover being submitted to the Financial Services Authority (FSA) since 2005. It is thought that thousands more people may be entitled to make a PPI reclaim and the figure is likely to continue to rise in the coming months.

Why Does It Take so Long to Get a PPI Re Claim?

Between December 2010 and April 2011 many claims were delayed pending a judicial review into new FSA guidelines regarding the sale of PPI. The British Banking Association had requested the review of the guidelines which it felt were unfair as they would potentially force lenders to examine old PPI sales against new guidelines. Whilst the review was pending many lenders placed claims on hold. After the High Court returned its verdict, finding in favour of the FSA, many lenders were left with significant backlogs to work through. This situation has meant that some customers awaiting a response have had to wait longer than the usual eight weeks for their lenders decision. The FSA has extended the usual eight week review period for some lenders and banks are working hard to clear the backlogs. It is expected that, moving forward, PPI re claim complaints, in light of the High Court decision, will be reviewed more quickly.

Registering your claim

If you believe you were mis-sold a payment protection insurance policy on your loan, mortgage or credit card you have the right to make a claim. You can even register a complaint if you no longer use your credit card account or have paid off your loan. There is also no limit to the number of claims you can make. To find out more about making a PPI reclaim or to start your claim today, complete our online claim form or speak to a member of our team by dialing 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.

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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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