Home Britain’s Banks have Braced for New Wave of PPI Claims

Britain’s Banks have Braced for New Wave of PPI Claims

Press Release: September 27, 2017

Northampton, England– 9/26/2017

UK banks have started bracing themselves for the rush of PPI claims that are likely to be flashed by a£42m TV ad campaign advising consumers to make a claim for mis-sold PPI policies.
The advertising campaign by Financial Conduct Authority (FCA) was launched on 29 August-which is precisely 2 years before the deadline for any brand new PPI claim-and is being paid by 18 of the largest players.
FCA has a hope that the deadline for making a claim would assist them in shutting down the scandal. This is UK’s most expensive mis-selling scandal forcing the banking sector to keep in excess of £43bn to manage and pay compensation to customers.
For PPI compensation the UK banks have kept aside over £40bn and the largest is set aside by Lloyds, witha provision of £18bn.
The Manager of PPI Refund, said, “For consumers, PPI deadline acts as an opportunity to get compensation on their claim. The previously refused 1.2m customers have been told that they might have other reasons to make a claim. This is merely due to the court ruling in the year 2014, which means consumers could make a claim for the commission paid by them when they were mis-sold PPI policy.”
PPI Refund has been imparting its services from 2007 and handled several successful claims. The offer and focus on acquiring compensation for the ones who have been mis-sold PPI.
PPI Refund has recovered millions of pounds for its consumers and also offers a free PPI check service. To know more about their services, visit http://ppirefund.co.uk/.

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