Were You Mis-sold PPI

ppi claims claim back mis-sold ppi

The acronym PPI stands for Payment Protection Insurance. This product covers the repayments on any credit card or loan if a borrower is involved in an accident or becomes sick. Insurance will make all the required repayments for one year.


This insurance may have been purchased without the borrower knowing or sold improperly by a lender or other entity. The insurance is not a bad product, but it not really needed by most borrowers. This is a product a borrower can pay hundreds for and may not be needed. 

Policies were often sold improperly by sales staff to earn high commissions. If a borrower has a loan at a local bank, then they should see about canceling the insurance. Fines to financial companies began in 2006 and improvements were not seen until 2011.  There are very clear rules that banks, finance companies and advisers have to follow when selling Payment Protection Insurance (PPI). Even so, research shows that there are millions of people that have, or have had, a PPI policy they were would never have been able to make a claim on.

Do you have a PPI claim?

If you can answer “no” to one or more of these questions, you may be entitled to claim.

  • Were you advised of any exclusions under the policy? As an example, you would not be covered for any pre-existing medical conditions.
  • Were you clearly told that the insurance may have been optional?
  • When you took out your loan or finance agreement, was it made clear that the PPI policy would be paid up front, as a single payment?
  • If the PPI was paid as a single payment, were you advised that the cost of the Payment Protection Insurance would be added to the loan and incur interest?
  • The life of single premium PPI is usually only 5 years. If your loan or finance agreement was for longer than this, were you told that the PPI policy would run out before your loan or finance agreement had been paid off? Were you also advised that you would continue paying interest on the payment protection insurance policy, even though the PPI cover had expired?

The above checklist outlines some of the common reasons for reclaiming mis-sold PPI. However, any policy holder that feels they have suffered a financial loss is entitled to make a complaint. If you think your PPI may have been mis-sold start your claim today.