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PPI Welcome

If you were mis-sold a payment protection policy with Welcome you may be unsure how to proceed with making a payment protection claim. As of March 2011, Welcome has been in default. ‘Default’ is a term used when a business regulated by the Financial Services Authority (FSA) is unable to financially settle claims made against it. In these instances the claims are investigated, and compensation paid as appropriate, by the Financial Services Compensation Scheme.

The announcement that Welcome was in default came after several turbulent years for the company. In 2008 the company announced pre-tax losses of £745 and by 2009 their debts exceeded their assets by more than £1.1 billion.

For many years, Welcome Finance specialised in providing loans to customers with poor credit histories. The company derived its profits from the high rate of APR attached to its loans as well as from the sale of payment protection insurance. After the FSA exposed the widespread mis-selling of PPI, sales of the insurance fell and complaints rose. In 2010 Welcome was the fourth most complained about insurance company. Of all the cases reviewed The Financial Ombudsman Service found in favour of the customer in 93%.

If you are unsure whether your PPI Welcome policy was mis-sold, the list below should help. If you answer ‘yes’ to any of these questions it is likely your policy was mis-sold and you could make a claim.

  • Was the policy added without your consent?
  • Were you told you had to have the policy or it would improve your chances of being given the loan?
  • Were you sold the policy without the full costs or terms and conditions being explained?
  • Were you suffering from a pre-existing medical condition?
  • Were you self-employed, unemployed, retired or in full time education?
  • Did you have an existing policy elsewhere?
  • Were you out under undue pressure to take out the cover?

To started your PPI Welcome claim for mis-selling call our 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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* 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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