How to claim back PPI premiums

If you have had a Payment Protection Insurance (PPI) policy at any time from 2005 onwards you need to show that the product was in some way mis-sold to you or was unsuitable for your particular circumstances.

In order to establish this you must consider the following:

Here is a list of the apparent "failings" that the regulator unearthed during their investigations surrounding the sale of PPI. If you consider that one of these failings occurred in relation to your policy, this may form the basis of a successful claim.

The failings include where your lender:

• Pressured you into purchasing the PPI
• Assumed that you would want PPI at the outset, for example, by automatically including it in the loan quotation;
• Led you to believe that the PPI was necessary or would increase your chances of being approved;
• Sold you the policy without your explicit agreement;
• Did not explain to you whether it was advising you on the sale or merely conducting it;
• Where selling on a 'non-advised basis', failed to make this clear or did, in fact, advise you to buy the policy;
• Where selling on an 'advised basis', failed to take care to ensure that the policy was suitable for your demands and needs;
• Did not explain the information to you properly, either orally or by giving you enough time to read the information;
• Did not provide you with the documents required under the rules (such as, for example, a policy summary, a statement of price, or a statement of demands and needs) or did not explain the importance of reading these documents;
• Did not explain any significant exclusions or limitations to you (such as, for example, those relating to students, self-employed people or people with an existing medical condition);
• Was aware that parts of the policy did not apply to you, but did not explain this to you;
• Recommended a single premium policy, without properly considering other options, especially where there was no pro-rata refund;
• Where no pro-rata refund was available, failed to explain this or failed to ask you about the chances of the loan being repaid early;
• Sold you a policy, the overall cost of which was higher than any benefits you may be able to claim;
• In relation to a single premium policy, did not tell you that this would be added to the loan and that interest would be paid on it, or failed to explain that the period of cover was shorter than the loan itself;

Many people have already been contacted by lenders to discuss the possibility that their PPI policy may have been mis-sold.

About your refund claim

Get help with your claim

If you do not want the stress and inconvenience of dealing with the matter yourself, or feel that you simply do not have the time to do so, we at Winston Solicitors LLP have an legal team able to assist in reclaiming PPI or mortgage PPI claims.

 

Claim back missold Lloyds PPI premiums or reclaim missold Barclays PPI.

Claiming personally

If you wish to deal with your PPI compensation claim yourself, you may do so directly with the lender or insurer. If you choose to represent yourself, it is important to be organised and to approach the matter in the correct way. We have provided a step by step guide to assist you, which you may find useful should you choose to take this route.

PLEASE BE AWARE:  Winston Solicitors LLP "no win no fee" PPI refund service is subject to a charge equal to 25% plus vat of the total amount of any sum that is repaid by a lender. This charge applies only if the complaint is upheld. There is no charge in the event of an unsuccessful complaint. Example: A refund of £2000 would result in a fee being charged of £600 inclusive of VAT leaving £1400 net being payable to the client.