There are 2 reasons that you may be able to reclaim PPI payments.
1 PPI was mis-sold to you
2 The provider earned a high level of commission but didn’t tell you.
Claim for mis-sold PPI
its likely that you were mis-sold PPI if any of the items below apply to you. The list is not comprehensive and there may be more!
you were pressured into buying PPI or told you must have PPI
you were promised a cheaper rate if you bought PPI
you were told your loan or credit application was more likely to be accepted if you bought PPI
PPI was added without telling you
you were advised to buy PPI that did not suit your circumstances or needs
you were self-employed, unemployed or retired but advised to buy PPI
you had a pre-existing medical condition at the time of buying PPI, which may have affected your ability to make an insurance claim
you were advised that a pre-existing medical condition was included in your PPI policy (or advised that it wasn’t included)
it was not made clear that you would pay interest on the PPI if it was added to your loan
it was not made clear that the PPI would end before the loan or credit was repaid
Complain about commission earned by a provider
A provider was usually paid ‘commission’ by the insurer, as a reward for the sale of PPI. If you had PPI, the money for this commission would come out of the payments you made for the policy.
A ‘high level of commission’ typically means it was more than half of what you’ve paid for your PPI policy.
You may be eligible to get back some money if your PPI policy covered repayments on a credit agreement – like a credit card or loan – and you:
took it out before 6 April 2007, but it was still open on or after 6 April 2008 (even if you had stopped using it)
took it out on or after 6 April 2007 (whether or not it was still open on or after 6 April 2008)
If your PPI policy covered a mortgage, you may also be eligible to get back some money in certain circumstances, and you should contact our office on 01942 619911 for more information.
Rejected PPI claims
If you have previously had a PPI claim rejected you can still complain about the interest earned by the bank or provider. The deadline of the 29th of August is fast approaching so don’t delay! Call today on 01942 61911 and speak to one of our advisers.
Have you been involved in an RTA and are not sure what to do? Contact CompiClaims today on 01942 619911 and speak to one of our advisors.
We can recover your vehicle for you and take it to one of our Insurance approved repair centers for a quotation for your insurance company.
If you need a courtesy car we can arrange one of an equivalent type for you and if you or one of your passengers have suffered an injury we can advise you on the action to take.
CompiClaims is here to help and advise you through your traumatic experience, and as we operate on a ‘no win no fee’ basis there is no upfront charge to pay and we strive to make the claims process as simple and painless as possible!
As we are regulated by the FCA (Financial Conduct Authority) you can be certain that we have the best interests of our clients at heart at all times.
Time is running out to claim your mis-sold PPI¬ The deadline is the 29th of August 2019 and it is expected that the banks will be inundated with last minute claims!
Don’t worry if you have already been told by your bank that you do not have a claim, contact us today on 01942 619911 and speak to one of our advisors as we may still be able to reclaim some compensation for you.
Below are figures from the Financial Ombudsman Service (FOS) showing claims they received and upheld for some of the main high street banks.
Lloyds TSB was the subject of 45,727 complaints to the ombudsman, 42,195 about PPI, of which 86% were upheld; Bank of Scotland attracted 34,434 PPI complaints, of which 81% were upheld; while another Lloyds Group business, Black Horse Limited, accounted for a further 5,888 complaints about PPI, of which 97% were ruled in the customer’s favour by the ombudsman.
If you have had any loans, credit cards or a mortgage then it is worth your while enquiring to find out if you had PPI and if so if you can reclaim it on the grounds that it was mis-sold
In a lot of cases when people took out a loan, PPI was added without the knowledge of the customer. From personal experience when I took out my first loan I was advised that it would only be approved if I took the PPI option!
Have you been persuaded to take out a
packaged bank account which you either didn’t need or couldn’t use?
Millions of customers were signed up to
packaged accounts at the start of the century as banks looked for new ways to
At the peak of the boom, they cost up to
£17.50 a month. Halifax charged £15 a month for the Ultimate Reward account;
Lloyds had Silver, Gold, Platinum and Premier accounts, from £7.95 to £25 a
month; and HSBC charged up to £15 a month for its Advance account.
Some pensioners found they weren’t covered by the travel insurance
offered with the accounts as they were too old.
Households without a car were paying for a breakdown policy they didn’t
need. Other account holders had cover elsewhere — so were effectively paying
twice for the same insurance.
For accounts opened since March 31, 2013,
banks have had to ensure that customers are eligible to claim on the package
Bank staff must point out if there are
features you won’t need or use. There is a time limit of 6 years from taking
out the package to registering your complaint so if you think that you have
been mis-sold such an account contact us today on 01942 619911 to discuss your
You might be eligible for a complete refund
so don’t delay!