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Tesco Loan Protection

Payment protection insurance has become increasingly controversial in recent years as the full scale of the PPI scandal has become apparent. The issue was first highlighted by the Citizens Advice Bureau in 2005 with formal investigations carried out by the Office of Fair Trading and the Financial Services Authority in 2006. The investigations found significant failings in relation to the sale of the insurance and several lenders were fined.

Although Tesco is a relative newcomer to the UK lending market it has not been able to escape the PPI scandal with a significant number of complaints being logged regarding Tesco loan protection. In fact it seems no lender, large or small, has avoided the scandal with the number of people making a PPI claim exceeding 1.5 million in just six years.

One of the reasons the number of complaints is so high is there are a good deal of failings that can amount to mis-selling. The list below outlines some of the most common.

  • Policies added without the customer’s knowledge or consent.
  • Customers given the wrong information regarding the policy e.g. that it was compulsory or would improve their chances of being given the loan.
  • Customer’s sold cover without receiving a full explanation regarding the costs involved.
  • Customer’s sold the cover without being made aware of the terms, conditions and exemptions.
  • Customer’s put under undue pressure to take up cover.
  • Customer’s sold cover unsuitable for their needs – e.g. customers who were retired or in full time education who had no need for loss of employment cover.
  • Customer’s sold cover they were ineligible to use – e.g. customers over the age of sixty-five who are not usually eligible for coverage.

If you think you were mis-sold a Tesco loan protection policy or payment protection cover by another lender, you can start your claim today by calling 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.

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