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PPI Repayments

Following a 2006 investigation by the Financial Service Authority regarding the sale of payment protection insurance. Thousands of UK banking customers have become aware they may be entitled to claim PPI repayments from their lender. PPI was sold for many years alongside credit cards, loans, hore purchase agreements and mortgages. The insurance was designed to protect the borrower in the event that they could not make payments as a result of sickness, accident or involuntary redundancy. For many people PPI was a invaluable cover, but it was not suitable for everyone and not everyone can be offered coverage. Following the revelations regarding the cover there has been a huge surge in the number of people making claims for mis sold payment protection insurance.

The Average Size of PPI Repayments

Many people want to know how much they can expect to get back in PPI repayments but there really is no pat answer to that question. Whilst it is common knowledge that the average refund is anywhere from £1,700 to £2,500, those are just averages which have no bearing on any one case. It depends on how long you have been paying, how much you have paid and often what type of policy you have (whether it was attached to a loan or credit card can make a significant difference). Also, you may want to see if you have more than one instance of mis sold payment protection insurance because there is no limit to the amount of claims you can make and each mis sold policy is eligible for PPI repayments!

How to File for Mis Sold PPI

Filing a mis sold payment protection claim is handled through the lender, not through the insurance company. Mis-sale is all about what happened at the point of sale and any failings that may have occured at that time. Common examples of mis-selling include where a customer is given incomplete, inaccurate or incorrect information, where a customer is pressured into taking our the cover or where a customer is sold a policy they do not need or cannot use.

Because of all the general misunderstanding surrounding the PPI claims process, many people choose to utilise the services of a professional claims management company. They will tell you whether or not they believe you can file a mis sold PPI claim against the lender and they will also have tools available to help you determine just how much PPI repayments will be. If you have any questions regarding the PPI claims procedure and just what to expect throughout, contact Belmont Thornton claims team at 0207 471 2000. One of the claims handlers will be happy to assist you and help you get your claim off the ground.

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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 number 18273

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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