PPI Claims

Payment Protection Insurance (PPI) is the UK’s largest financial scandal, one worth £25bn and counting

The wholesale mis-selling of PPI has cost the banks billions

The Citizens Advice Bureau estimated that as many as 1 in 5 people who bought PPI were mis-sold

Many customers weren’t even aware that they had PPI as many of the policies had an ‘opt out’ without it even being mentioned!

A deadline is likely to be set for Spring 2018 to make a claim so act now before it's too late!


IMPORTANT - PPI claims deadline

The FCA annouced in early October 2015 that they would seek to introduce a deadline to put an end to PPI claims

It has been confirmed that the package of proposals on PPI complaints laid out in 2015 should be taken forward and a new package will come into effect from the middle of 2017 

The package will include a deadline for new PPI complaints as well as a consumer communications campaign to raise awareness of the issue and the deadline

The deadline is expected to be a 2 year one lasting from June 2017 - June 2019

In part the deadline is in response to a court ruling which showed that the PPI bill could be even bigger as well as feedback received from the November 2015 consultation

Plevin vs Paragon Personal Finance centred on hidden PPI commission which could see the PPI bill rise

Read here for information on hidden commissions


Need to know

  • You are likely to have been sold PPI if you’ve ever bought anything on credit or if you have taken out a credit card, store card, loan or mortgage
  • Around 34 million PPI policies are thought to have been sold since 2001
  • PPI is supposed to cover your payments in the event you can’t work and want to pay for the extra security
  • There have been more than 14 million complaints to the banks since January 2011 alone, showing that the scandal isn’t slowing down any time soon
  • Banks have set aside billions to deal with expected future PPI claims
  • If you were sold PPI and were unemployed, retired or a student you were almost definitely mis-sold and should make a claim
  • As with Packaged Bank Account claims, many PPI claims have been rejected unfairly by banks, with the Financial Ombudsman Service estimating the number at 65% of claims referred to them
  • To find out if you have PPI check your original documents. If you no longer have these call the lender as they have to provide these details by law, although it may take them a couple of days

Claimed before? You could claim again

In August 2014 the Financial Conduct Authority (FCA) revealed that banks had agreed to review 2.5 million past cases which may have been ‘unfairly rejected or paid too little redress to

This has opened the door for past claimants to reclaim, even if they have previously been paid a settlement as it may have been too little

Remember, if proper PPI advice wasn’t given, the policy was mis-sold as suitability should have been taken into account at the point of sale


How to claim

To start the process of claiming your PPI you again have two options:

1. Call the lender (SEE BELOW). You should be prepared to state your account number, dates of your agreement, your PPI number (if you have it), how the PPI was sold to you (online, over the phone, face to face) and how you think it was missold.

2. Write to the lender, your PPI claims cover letter can be very brief just stating your name address and the PPI complaint you are making. You should also include a completed questionnaire from the Financial Ombudsman. If you need help completing the questionnaire you can call the Ombudsman 0300 123 6222. The questionnaire asks:

  • for the lender's details, your PPI details including policy number and dates and the details of how it was sold to you
  • whether your PPI is still running, if you've ever made a PPI claim and accompanying paperwork
  • why you wanted the PPI, what you were borrowing and if you ever missed payments
  • your personal circumstances and employment details at the time 
  • why you're choosing to issue a PPI claim 

The lender has 8 weeks to respond to your PPI Claim. If you haven't received a satisfactory response by then you should call the Financial Ombudsman with your complaint. The Ombudsman regulates the banks and has a a huge amount of PPI claims to go through so it may take a couple of years for your case to be resolved, but it will be worth the wait!

Financial Ombudsman

Why we like it:

  • telephone helpline 0300 123 9 123 is open Monday to Friday – 8am to 8pm, Saturday – 9am to 1pm and is GREAT really helpful
  • the Ombudsman have the questionnaire you can use to start your claim
  • they will help you with the questionnaire even if you are not sending it to them
  • they will take up your complaint if you are unhappy with the lender's response

Watch out:

  • a complaint can take up to two years to get a resolved

Lenders details


Bank of Scotland

Customer Relations, PO Box 816, Leeds LS1 1WU

0345 725 3519


Barclays PPI Dept, Leicester LE87 2BB

0800 282 390

Capital One

Executive Office, Capital One, PO Box 5281, Nottingham NG2 3HX



Complaints Handling Team, CitiFinancial Europe plc, Global Consumer Banking, PO Box 49944,   London SE5 7YG

0800 00 55 00


The Co-operative Bank, PPI Operations 5th Floor, 1 Balloon Street, Manchester M60 4EP

0844 826 7805


Customer Relations, PO Box 816, Leeds LS1 1WU

0800 151 0293


HSBC, PPI Complaints, PO Box 6177, Coventry CV3 9HPU

0800 881 155

Lloyds TSB 

Lloyds Bank, PPI Customer Services, BX1 1LT

0800 151 0292


The Customer Advocate Office -PPI, MBNA Limited, PO Box 1004,   Chester Business Park, Chester CH4 9WW



PPI Customer Concerns Team, Royal Bank of Scotland Group, 5th Floor, Hardman Boulevard, Manchester   M3 3AQ

0800 015 0319


PPI Complaints, PO Box 6197, Milton Keynes MK10 1UY

0845 600 6014


(TSB customers should continue to use the Lloyds TSB contact)


The inside track

  • It’s easier to claim if you were mis-sold PPI in the last six years, but not impossible otherwise
  • Statute of limitation means that the banks don’t have to keep your records for more than six years, but you can still claim as there is no official cut off point
  • If you were told payment protection insurance was compulsory, you were mis-sold. It isn’t and you have a strong case to get your money back
  • It will only take you 15 minutes to fill out the complaints questionnaire

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