Belmont Thornton Logo

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.

Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

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.

Please note that calls may be monitored for the purposes of staff training.

* 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.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide