There is speculation that there might soon be another massive round of PPI payouts – this time based on the commission consumers were paying on the policies sold to them.
Months after the final deadline for PPI complaints in August last year Gladstone Brookes is still recovering life-changing sums of money for its clients.
By Mike Birkett | Published 2020-04-21T17:07:24+0100 | Posted in News | 21st April 2020
Figures just released by the Financial Conduct Authority (FCA) show an 81% jump in the number of claims as consumers rushed to beat the PPI claims deadline in August last year.
Just a week after announcing a 26% drop in profits, Lloyds Banking Group (LBG) has announced it is shedding the equivalent of 780 full time jobs across its branch network.
The additional provision of £2.45 billion for PPI complaints in 2018 ‘significantly impacted’ the profits of Lloyds Banking Group (LBG) according to chairman Lord Blackwell.
Barclays is still only half way through processing the massive spike of PPI complaints received in the run-up to the claim’s deadline in August last year.
The Financial Ombudsman Service (FOS)has been receiving an average 3,500 new PPI complaints a week in the wake of the claims deadline of August last year.
You can do the claim directly yourself to the lender for no charge. You can also approach the Financial Ombudsman Service and Financial Services Compensation Scheme for free if you wish for them to review your case, if you have approached your lender first, and it falls within their remit.