PPI Claim Letter

PPI Reclaim Letter

PPI Claim Template

PPI Template Letters

There are many PPI Template letters available.

Here is just one which you can send to you lender.

[Your name and address] [Date]

[Name and address of company providing payment protection insurance]

Dear Sir or Madam,

Re: Account number: [Your account number] – Letter of complaint

I am writing in relation to the above payment protection (PPI) policy which I believe was mis-sold to me. I believe you have not treated me fairly for the following reasons;

[Delete the reasons that do not apply to you]
• The payment protection insurance (PPI) was added without my knowledge.

• The sales person selling the insurance was pushy and strongly advised me to take the insurance.

• I was [select from – told I had to take the insurance/told I could not get my [loan/credit card/credit card etc] without the PPI/only provided with a quote for the cost of the [loan/ credit card etc] with PPI attached].

• I [select from - was/knew I was soon to be] [select from - unemployed/self-employed/retired/over the age limit] when I took out the policy and [select from – made your staff aware of this/was not asked about this].

• I was not [select from - asked about any pre-existing medical conditions I suffered from/warned that pre-existing medical conditions could affect my insurance].

• I [select from - was not informed that stress and back problems were excluded from the insurance/informed staff about (your medical condition) but was not warned that this would affect the insurance].

• I was not asked whether I already had any existing insurance or employer benefits that would cover my repayments.

• You have been punished by the Financial Services Authority for failing to treat customers fairly and I do not believe that the PPI I bought was sold in my best interest.

• I was sold a single premium policy that was not fully explained to me as [select one or more from – the whole cost of the insurance was not made clear to me/it was not explained what would be refunded if I cancelled the insurance or if I repaid the loan early].

• It was not explained that the PPI would not run for the full term of my loan.

• When I tried to cancel my insurance [select from - the refund I was offered did not represent a fair refund as is required under FSA guidelines for PPI providers /I was told I could not cancel the PPI without taking out a new credit agreement].

Unless you can prove that the policy was fair and reasonable and that I was treated fairly when I was sold the insurance, I demand a full refund of all premiums, and subsequent interest on these payments, that I have paid in relation to this policy. I also expect 8% interest to be added to each payment I have made as this is the statutory amount a court would pay.

I look forward to your full and prompt response to this letter.

If this matter is not settled within eight weeks of this letter I shall be contacting the Financial Ombudsman to investigate my complaint.

Yours faithfully,

[Your signature]

[Your name]

See Our PPI Mis selling checklist

Another Free PPI Claim Letter which might suit your claim.

The Complaints Department
[Lender’s address]
[Date]

Dear Sir/Madam,

Ref – policy number

I believe I have been mis-sold a payment protection insurance policy and would like to request a full refund of my premiums, plus interest paid.

I took out a £xxx loan/credit card at your [branch name] branch on [date] and also bought a payment protection policy which would cost me an extra £xxx over the life of the loan. [The name of the salesperson who sold me the policy is …] The total amount of my premiums plus interest is £ xxxx.

When I took out the loan, I was told that my application would be refused if I did not also buy a PPI policy. The Financial Services Authority’s advice to consumers is that, while it does not breach FSA guidelines, a borrower should not be refused a loan if they choose not to buy an insurance policy.

Possible additional paragraphs – include any which apply to you ( See Mis-seling checklist)

[I also told your salesperson that I had adequate insurance cover through a separate income protection policy.]

[I said I did not need the PPI as my employer provides a generous illness and redundancy package.]

[You are not allowed to make PPI a condition of taking out the loan unless you include the costs of PPI in the quoted interest rate, which you did not do.]

[In forcing me to buy this policy, you have also breached paragraph 8.6 of the Banking Code, to which you are a signatory.]

I do not believe being forced to buy this policy as part of the loan was a fair and reasonable obligation as I did not need this insurance and said at the time of taking the loan that I did not want it.

I am requesting a full refund of all my insurance payments, plus interest, which total [£ xxx].

If I do not receive a favourable response from you I will pursue this claim through the Financial Ombudsman.

Yours faithfully,

(Your signature)

Free PPI Claim Template Letters To Claim Back PPI Yourself

FREE *  PPI Claim Back Tempate Letters

Send this Letter to your lender;  They have 40 days to reply then send a reminder. Send a cheque for £10.00 so they will send you the information.

Date

Lender Address                                                                              Your Address

Dear Sir or Madam

Re; Account Number

Customer Name;

We/I purchased a payment protection insurance policy from you in ——————–

The account number is stated above. We/I have recently become aware that we/I were mis-sold the insurance policy for the following reasons:-

1. We/I did not request the ppi policy and felt pressured into buying it.
2. We/I were lead to believe that the ppi policy had to be provided by you in order for us to get the loan and that it was compulsory
3. We/I were not informed we/I could buy the insurance elsewhere and that we/I could potentially find it cheaper.
4. We/I did not have the separate costs of the PPI policy and the loan explained to us.
5. We/I did not have the exclusions and restrictions on the policy fully explained to us.
6. The terms and conditions of the ppi and there importance were not fully explained
7. We/I were not told the sale would generate a sales commission.
8. We/I were not asked if we/I already had insurance to cover the repayments and finally,

ADD YOUR OWN REASONS HERE IF APPLICABLE

Unless you can justify to us that the policy sale was fair and reasonable we are requesting a full refund of all premiums paid and the subsequent interest on these payments.

We expect that 8% statutory interest, the amount a court would award in such a situation, to be added to each payment awarded to us a total of £……………………….

We look forward to a full and prompt response and for the matter to be concluded in eight weeks or we shall contact the Financial Ombudsman and request we/I investigate the complaint further.