If you had PPI and are unhappy with how it was sold, you can complain about it and claim back money you’ve paid. Find out about mis-selling of PPI and why you might be eligible to claim a refund.
If you had PPI there are 2 reasons you might be eligible to claim back money you’ve paid for the policy:
- PPI was mis-sold to you – as explained below
- the bank or other provider earned a high level of commission from the sale of PPI, but didn’t tell you this when you bought it – as explained on the next page
If you aren’t sure if you had PPI, you should find out more about PPI and how to check if you had a policy.
Claim for mis-sold PPI
We have found that PPI was often mis-sold.
It is likely you were mis-sold PPI if you experienced any of the following:
- you were pressured into buying PPI or told you must have PPI
- you were promised a cheaper rate if you bought PPI
- you were told your loan or credit application was more likely to be accepted if you bought PPI
- PPI was added without telling you
- you were advised to buy PPI that did not suit your circumstances or needs
- you were self-employed, unemployed or retired but advised to buy PPI
- you had a pre-existing medical condition at the time of buying PPI, which may have affected your ability to make an insurance claim
- you were advised that a pre-existing medical condition was included in your PPI policy (or advised that it wasn’t included)
- it was not made clear that you would pay interest on the PPI if it was added to your loan
- it was not made clear that the PPI would end before the loan or credit was repaid
There may be other reasons you were mis-sold PPI.
If you think you experienced one of the examples listed above or were mis-sold PPI in another way, it will make it quicker for your bank or other provider to review your complaint if you say why you think PPI was mis-sold.
If you still aren’t sure if PPI was mis-sold to you, you can contact us.
New reason to complain
We have introduced new rules, following a court case about commission earned by a provider (often called ‘Plevin’), that mean you can now also:
- complain even if PPI was not mis-sold or you don’t think it was mis-sold
- complain even if you had a previous complaint about mis-selling of PPI rejected
Find out more on the next page about complaints about commission earned by a provider.
I made an insurance claim on a PPI policy – can I still complain about mis-selling of PPI?
If you made a successful insurance claim on your PPI policy, such as if you were made redundant, you can still complain about mis-selling of PPI.
But any money you are owed for the mis-selling of PPI will be reduced by the amount you received from your successful insurance claim.
If you made an insurance claim on your PPI policy that was rejected by your insurer, you can still complain about mis-selling of PPI.
But if it has been more than 3 years since your insurance claim was rejected by the insurer, your complaint about the way PPI was sold may also be rejected.
Deadline for PPI complaints
We have set a deadline of 29 August 2019 to complain about PPI.
Your bank or other provider must receive your PPI complaint by 29 August 2019 – otherwise you lose your right to have your complaint considered.
You should act as soon as possible. Although 29 August 2019 is the general deadline for PPI complaints, you may have less time to complain about mis-selling, including if you:
- received a letter from your provider about the way PPI was sold to you – most of these letters were sent between 2012 and 2015
- made an insurance claim on your PPI policy that was rejected by the insurer
If you aren’t sure how long you have to complain, ask your provider for more information as soon as possible.