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29th Aug 2019

PPI Claims on Personal Loans

Mis-sold PPI on loans

Banks and lenders sold PPI alongside loans to more than 20 million people during the last few decades, earning billions of pounds in profit.

However, lots of these insurance policies were mis-sold. It was often done quite easily compared to credit cards and other products, due to the large size and length of most loans; they typically last as long as ten years, making it more likely that a customer would not be in work at some point during the loan.

Because customers were supposedly at a greater risk of being without work and therefore missing their repayments, they were frequently pressured into taking out PPI with their loans.

How was it mis-sold on Loans?

PPI was mis-sold on a very wide basis, with the Citizens Advice Bureau finding that only 15 to 20 per cent of people with a PPI policy managed to successfully make a claim, significantly lower than motor insurance claims (74 per cent) and household claims (55 per cent.

It was also common for loan applications to require you to opt-out of purchasing PPI, without mentioning it in the application, leading to many people purchasing it with no knowledge of this. Even if this didn’t occur with your first loan, it may have happened on a new loan you took out later on, again without you even requesting to have it.

There are a number of other ways in which PPI may have been mis-sold, aside from if you simply had no knowledge of having PPI attached to your loan:

  • You may have felt pressured into getting PPI, with the sales person effectively forcing the deal onto you. If you didn’t need the policy, then you may have been mis-sold.
  • If you were under the impression PPI was required in order to be successful in your attempts to secure a loan, then you may have been mis-sold. PPI has no bearing on the likelihood of a lender deciding whether to grant you a loan, and it is an optional product.
  • Did you have the costs explained to you in detail? The seller should have provided you with a clear breakdown of the separate PPI costs, rather than including them within the loan costs. Failing to make clear the PPI was a separate cost could mean you were mis-sold.
  • Were you made aware of all the exclusions and terms of the policy? If you did not realise that having a pre-existing medical condition, for example, could result in you not receiving a payout, you may have been mis-sold.
  • Did the seller discuss your employment status with you beforehand? If you were a student, a part-time worker or unemployed at the time you took out the loan, you may not have been able to make a claim anyway, so you could have been mis-sold.

How much can I reclaim?

The amount you can reclaim varies from person to person, but you may be able to claim back hundreds of pounds as a result of being mis-sold PPI on a loan.

Be aware that it doesn’t matter if you have reclaimed PPI on other products (such as credit cards and mortgages) before, because each claim is separate. To start your claims process, complete our online enquiry form.

Loan Providers who are facing mis-sold PPI Enquiries

The following is a list of loan providers who are known to have sold PPI. Please note this is not an exhaustive list.

118 118 Money Loan PPI Claim

1Plus1 Loans PPI Claim

1st Stop Personal Loans PPI Claim

AA Loan PPI Claim

Amigo Loan PPI Claim

AvantCredit Loan PPI Claim

Bank of Ireland Loan PPI Claim

Bank of Scotland Loan PPI Claim

Barclays Bank Loan PPI Claim

BeSavvi Loans PPI Claim

BumbleBee Loans PPI Claim

Cahoot Loan PPI Claim

Clydesdale Bank Loan PPI Claim

Consollo Loan PPI Claim

Creation Loan PPI Claim

Creditplus Loan PPI Claim

Danske Bank Loan PPI Claim

Derbyshire Building Society Loan PPI Claim

First Direct Loan PPI Claim

Fluent Loans PPI Claim

George Banco Loan PPI Claim

Glo Loan PPI Claim

GuarantorUs Loans PPI Claim

HSBC Loan PPI Claim

Halifax Loan PPI Claim

Hitachi Capital (UK) Plc Loan PPI Claim

Lending Works Loan PPI Claim

LendFair Loan PPI Claim

Lloyds Bank Loan PPI Claim

M&S Bank Loan PPI Claim

Madiston LendLoanInvest Loan PPI Claim

Metro Bank Loan PPI Claim

Moneyway Loan PPI Claim

My Car Credit Loan PPI Claim

Nationwide Loan PPI Claim

NatWest Loan PPI Claim

Ocean Finance Loan PPI Claim

Pareto Loans PPI Claim

Post Office Loan PPI Claim

Quid Cycle Loan PPI Claim

RateSetter Loan PPI Claim

Royal Bank of Scotland Loan PPI Claim

Santander Loan PPI Claim

Sainsbury’s Bank Loan PPI Claim

Smile Loan PPI Claim

SUCO Guarantor Loans PPI Claim

TFS Loans PPI Claim

TSB Loan PPI Claim

Tesco Bank Loan PPI Claim

The Co-operative Bank Loan PPI Claim

TrustTwo Loan PPI Claim

UK Credit Loan PPI Claim

UK Trust Loans Loan PPI Claim

Ulster Bank Loan PPI Claim

Yorkshire Bank Loan PPI Claim

Zopa Loan PPI Claim

Zuto Loan PPI Claim

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PPI Claims for Deceased Persons

Deceased Persons

If a PPI policyholder is deceased, any money owed to them becomes part of their estate, so whoever inherits the estate is entitled to make a PPI reclaim. This can be done by an executor or the person appointed to carry out their wishes after death. We automatically assume that reclaiming mis-sold Payment Protection Insurance (PPI) for deceased parents and grandparents may not be possible due to the passage of time.

However, the truth of the matter is it is quite straight forward to make a successful claim for mis-sold PPI for someone who is deceased.

To reclaim mis-sold PPI start with a FREE PPI check** with us today.


Have you had any Catalogue Accounts between 1988 - 2014?

PPI was sold with many Catalogue Accounts

If you have ever had a catalogue account you may have been Mis Sold PPI and you could be due back thousands of £££'s.

Let Us Find Out if You've were also sold PPI with our FREE PPI Check** service

£Billions still unclaimed It Won't Cost You a Penny if There's No PPI! Member of the PFCA

Don't delay - Start your PPI check and Claim Today !

To Find Out Complete Our Form!


Armed Forces Personnel & PPI

Armed Forces PPI

Armed forces personnel have cover for sickness, accident & unemployment built into their salaries. This protection means that if a member of the armed forces was unable to work due to one of these reasons, they would still be able to meet any mortgage, loan or credit card repayments they had. So any PPI insurance policies would NOT have been appropriate. To find out if you can reclaim for mis-sold PPI, start a FREE PPI check** with us today.

UK Expats & Non-British Nationals

Expat PPI Claim

Did you have a loan, credit card or mortgage in the UK between 1988 and 2014? As a British Expat or Non-UK National who has lived in the UK for a long period, it is likely that finances were arranged while you were a resident in Britain. This may include loans, mortgages or credit cards and, even though you are no longer living in the country you can still claim mis-sold PPI. You could be eligible to claim for mis-sold PPI!

Public Sector Workers PPI Claim

Public Sector PPI

For many public sector workers, the Payment Protection Insurance (PPI) they were sold was useless. However, for some of these workers it would not have been useless, depending on the policy type and cover it provided them with.

If you had PPI and it provided you with extra cover that hadn’t been included in your employment contract, then it may have been useful for you.

Business PPI Check and Claims

Business PPI Claims - Mis-sold Payment Protection Insurance

Business PPI - Like most consumer PPI policies, business PPI also know as commercial PPI was sold alongside secured and unsecured loans, overdrafts, credit cards and mortgages. Business Loan Repayment Insurance is a type of insurance policy sold alongside commercial loans, including Fixed Rate Loans, Variable Rate Loans and Treasury Loans. If you had a commercial or business loan between 1988 and 2014 you may be eligible for a PPI refund. Start a Free Business PPI Check and find out if you have mis-sold PPI to reclaim.