With just six months to go before the PPI deadline on August 29th, millions of potential claims remain to be made with banks setting aside billions of pounds to cover potential pay-outs.
Blog Category: mis-sold PPI
The PPI claims deadline is now just six months away and if you are one of the millions of people with a PPI policy and you haven’t made a claim for possible mis-selling, your time is running out.
2018 monthly PPI payout averages over £⅓ billion
Figures just published by the Financial Conduct Authority (FCA) show that Britain’s banks paid a monthly average of £354.1 million in 2018 and a total of £4.2 billion for the year.
The on-going cost of compensation for mis-selling PPI policies has helped keep the Co-op Bank in the red, according to its annual report.
Linda Dawber had no idea whether or not she had ever taken out PPI because her husband dealt with all the couple’s financial matters.
When the alarm bells first started ringing about mis-sold PPI experts believed the episode would be very short-lived and end up costing around £4 billion.
With just over six months to go to the PPI claims deadline concern is being expressed that some of Britain’s banks are delaying claims by weeks or even months.
HSBC is the latest bank to release its annual figures which have revealed it has £429 million still available to pay future successful PPI claims before the PPI claims deadline in August.
Now in her 80s Brenda Oliver wasn’t sure whether or not she had PPI, but thought that she may have taken it on some time in the past.
Royal Bank Of Scotland (RBS) still has £600 million available to pay future successful PPI claims, according to figures published in their annual report.