PPI payouts edge closer to £30 billion

ew FCA figures

Latest figures released by the Financial Conduct Authority (FCA) shows the amount paid by Britain’s banks fore mis-sold PPI is now £29.6 billion.

PPI claims compensation has become one of the biggest financial scandals ever seen in the UK and pressure is growing from some commentators for the regulator to put back the claims deadline scheduled for August next year.Read More

Should the PPI deadline be extended?

Is the FCA campaign raising enough awareness?

There are calls for the PPI claims deadline of August 2019 to be extended after a survey of more than  2,000 people revealed that half of them didn’t even know the deadline existed.

Despite the Financial Conduct Authority (FCA) launching a £42 million nationwide multi-media consumer awareness campaign six months ago, four out of five of those surveyed couldn’t correctly identify the correct date of August 29th 2019.Read More

Barclays PPI claims 16% up in 2017

More PPI

Claims for mis-sold PPI against Barclays Bank soared by 16% in 2017.

Total claims received have now topped 2.1 million – 300,000 up on the previous year – and the bank has paid out a total of £7.6 billion in compensation for successful PPI claims.Read More

£840 million for HSBC PPI in 2017

HSBC PPI provision

HSBC added an extra £840 million to its PPI compensation pot in 2017 in anticipation of a flood of new claims following the announcement of the PPI claims deadline.

The bank is the first of the big four high street lenders to reveal its annual figures and the new cash brought its overall provision to £3.65 billion, of which £2.79 billion has already been spent.Read More

Another £450 million for Lloyds PPI

More money for PPI

As Britain’s high street banks start to gear up for the publication of their annual figures, analysts have started to speculate that millions of pounds will have to be added to be added to their PPI compensation pots.

February is the month when the big four banks – Lloyds, Barclays, Royal Bank Of Scotland (RBS) and HSBC reveal how their forward planning for dealing with future PPI claims has worked.Read More

SUCCESS STORY – “I can’t thank you enough”

shaw success story

Damian Shaw had seen the Gladstone Brookes advert on TV many time but never did anything about making his own PPI claim until in 2016 a friend suggested he make the call.

He was unsure how much PPI he may have had attached to agreements in the past and was surprised when his enquiry uncovered it was attached to four loans from Halifax. Following an investigation, the lender agreed he had been mis-sold the policies and paid him £5,334 in compensation.Read More

PPI monthly payout continues to grow

Mongthy PPI payouts continue to grow

The rate of payouts for successful PPI claims is continuing to rise following the announcement of a final deadline in 2019.

Official figures from the Financial Conduct Authority (FCA) reveal that Britain’s lenders paid out £298.8 million in September – the latest month that figures are available for – bringing the overall figure paid out since January 2011 to £28.5 billion.Read More


Buying a house

There can be few bigger milestones in a person’s life than buying their own home.

In this day and age it is getting more difficult than ever with the lack of affordable housing nationwide and the difficulty in raising enough cash for a large enough deposit to get a mortgage.Read More

Level of PPI payouts jumps by £21 million in a month

Level of PPI payouts jumps by £21 million in a month

The level of PPI payouts has jumped by £21 million in a single month according to official figures just released.

The Financial Conduct Authority (FCA) revealed the total payout for August was £271.5 million – the highest monthly payout in more than a year.Read More

CYBG adds £403 million for PPI as claims soar

CYBG adds £403 million for PPI as claims soar

CYBG – the former Clydesdale and Yorkshire Banks – have added another £403 million to their PPI provision as the number of new PPI claims soared across the financial sector.

The announcement was made by National Australia Bank (NAB) – CYBG’s former owner.  Under an agreement signed when the two split in February last year, NAB will pay 90% of the increase, leaving CYBG to fund £39 million.Read More