Helping You Make a Claim

What is mis-sold PPI?

The cost of PPI can be high. What is PPI used for and what is PPI covering? PPI was not always mis-sold and through the PPI claims process it will be determined if your PPI was in fact mis-sold.

Not all of the PPI policies are mis-sold. You can make a complaint about any PPI sold to you in the past. If you are a consumer with queries on mis-sold PPI policies or PPI claims please refer to the OFT warns of PPI compensation scam consumer alert You should seek advice from the Financial Ombudsman Service on PPI claims and mis-sold PPI policies rather than the OFT.

A PPI claim, or a PPI complaint, is the process for reclaiming from lenders or insurers the premium and interest you have paid on a PPI policy when you believe the policy has been mis-sold to you. The thing with ppi is that the larger the screen, the lower the ppi. The majority of PPI mis-selling came from face to face and telephone sales, where advisors didn’t outline to borrowers whether they really needed PPI , how much PPI would cost them or what level of PPI they needed.

PPI stands for Payment Protection Insurance. PPI stands for payment protection insurance. You are able to use the services of a PPI Claims Company to get you your PPI refund amount, or you can pursue the claim on your own.

This does NOT mean that you cannot claim for mis-sold PPI. Many PPI policies have been mis-sold, but not all of them. You may have heard that PPI wasn’t always sold well by banks.

You will first need to check whether or not you have a valid PPI policy. If you were told at the point of sale that PPI was compulsory then you were mis-sold as PPI has never been compulsory. The easiest way to raise a query about a PPI policy is to complete a FOS PPI Questionnaire By filling out the FOS (Financial Ombudsman Service) PPI Questionnaire we will have all the information we need to assess your complaint.

PPI premiums may be charged on a monthly basis or the full PPI premium may be added to the loan up-front to cover the cost of the policy. Most PPI policies include unemployment cover. These are just a few of the reasons why PPI was mis-sold.

This is just an example of the sums of money involved in the PPI mis-selling scandal and if you have ever bought Payment Protection Insurance make sure you claim your PPI refund now if you were mis-sold. Your first steps to finding out is you can reclaim PPI on your mortgage is to find out if you are actually paying mortgage PPI. Yes, anyone can make a personal PPI claim.

Before PPI was issued the arranger (e.g. the bank or financial institution) should have told you that you need not include PPI as part of your monthly payment plan.

Which banks and financial institutions were involved in the PPI mis-selling scandal?

Almost all the major British Banks and building societies were in one way or another involved in the mis-selling of private protection insurance or PPI to millions of consumers. All these banks are represented by the umbrella British Bankers’ Association or BBA. All the biggest players in the banking industry including Barclays Bank, HSBC, Royal Bank of Scotland, Lloyds and other respected financial institutions in the UK were all involved. In total, there were some 20 British Banks involved in the mis-selling of the PPI to their customers.

The main culprits in the PPI scandal

With PPI compensation claims hitting 2.2 million this year, it’s clear that this was a scandal on a huge scale.  So which financial institutions were the major beneficiaries or culprits in the PPI scandal? Based on the volume of PPI compensation claims filed by the various financial institutions, it is clear the main financial institutions involved in the PPI mis-selling were Barclays, Lloyds and the Royal Bank of Scotland according to the data released by the FSA earlier in the year.

For example, Lloyds was the most complained about Bank with over 391,000 complaints being made against it in the first half of the year. This was followed by the Royal Bank of Scotland which received over 290,000 PPI compensation claims over the same period.  Within the same timeframe Barclays Bank received over 280,000 complaints making these three the most complained about financial institutions.

Other banks involved in the PPI scandal

Apart from the big three, there were other financial institutions that were involved on the PPI scandal. These included major banks like HSBC which has also received a massive amount of PPI compensation claims in the first half of the year. Santander Bank had one of the highest rates of PPI issues that are specific to a particular bank with over 140,000 complaints filed.   How far back can you claim PPI? from these banks also needs to be discussed.

The following banks were also involved in the PPI scandal: Clydesdale, Co-op, Halifax, Nationwide and NatWest-RBS. For additional information on the various banks that were involved in the PPI mis-selling, you can check out the FSA website at It is important to note that there were other financial involved in the mis-selling of the PPI apart from the banks and these included many building societies and even insurance brokers.