Refunds For PPI

PPI Reclaims, learn more

Payment Protection Insurance is an insurance product which has been created to help people keep up with their loan, mortgage and credit card repayments when they are unexpectedly unable to work due to unemployment, sickness, and injury caused by accidents which prevent them from working. PPI can also apply to store cards and hire purchase agreements. The policy is not viable if someone is unemployed, redundant, self-employed or has a pre-existing medical conditions because the policy will not cover these conditions. Claiming PPI refunds can be done when a PPI policy has been mis sold to the customer.

For over 10 years many banks and lenders have mis sold PPI to their customers. This led to a judicial review which the banks lost requiring banks to make PPI refunds to customers. As a result, banks set aside billions of pounds to refund customers who have valid claims. If PPI has been mis sold to you, you can claim substantial amounts ranging to thousands of pounds in PPI refunds. You are entitled to claim premiums paid up to date with interest and other compensation.

PPI Refunds depend on the type of policy bought and the amount of premiums paid. The insurance was traditionally added to the loan or mortgage as a lump sum at the beginning. Your bank or lender should reveal to you the cost of the cover at the start so you can choose to take it or not. If this was not done, then, there was failing on the part of the lender and you can claim PPI refunds and get your money back with interest and other compensation.