Can you claim PPI if you have no paperwork?
If you don’t know if you had PPI, who your lender was, are missing info or lack paperwork, don’t worry – it’s easy to find out. Lots of people are put off reclaiming PPI because they don’t have full details or can’t remember them, but don’t let this stop you – act now to get in before the dealine.
How can I calculate my PPI Refund?
Check from previous bank statements how much your PPI payments were each month. How many months were you making payments? Add the date that the mortgage, loan or credit card was taken out. Finally, click the “calculate PPI refund” button to see how much you could be owed.
How do I know if I was missold PPI?
Check if your PPI was mis-sold You were mis-sold PPI if the company you borrowed from didn’t tell you about it, or pressured you into it – for example if they said you’d get a better deal. Even if you were told about the PPI, it might still have been mis-sold if the company didn’t follow the right steps.
How much do you get for PPI claim?
PPI refund claims are averaging around £2,000 to £3,000. Every case is individual, so for instance in one case, we recovered over £34,000 on a Picture Loan PPI Claim. From our calculations, as a rough and ready guide, the PPI reclaim amount is about 15% to 30% of the loan valuation.
What is the average mortgage PPI payout?
Successful PPI claims – timescale and refunds The amount you receive for a successful PPI claim will depend on the amount you’ve paid for the policy and the circumstances of your complaint. The average payment is around £1,700, but it can be much less for some people or much more for others.
What percentage is PPI on a mortgage?
Statutory interest for all PPI claims The rate is currently 8% but, prior to April 1993, it was 15%. Assuming that the loan was after April 1993, the compensation is 8% a year on the combined PPI premium and interest from the time they were paid.
Do you accept first PPI offer?
Some providers won’t need you to accept the offer before they pay you back any money – if you aren’t sure what you need to do, contact them to ask. The amount you receive for a successful PPI claim will depend on the amount you’ve paid for the policy and the circumstances of your complaint.
What is the lowest PPI payout?
What’s the lowest payout we’ve seen? Back in March, we reported on a MoneySaver who received a cheque worth 34p for mis-sold PPI. This was the smallest reclaim we’d seen, though a Google search throws up a 2015 article in which a journalist writes about being paid just 3p.