Claiming back PPI just got easier

Which? is once again leading the way in consumer redress by launching a new online PPI complaints tool, making it quicker and easier for people to claim back mis-sold PPI.

Claiming back mis-sold PPI policies can be a complicated process, so Which? have set up an online service to help.

All people need to do is go to which.co.uk/ppiclaim and select their provider from a drop down menu, fill in their contact and PPI details and answer some simple questions about why their policy was mis-sold. Our tool then creates an email that can then be sent directly to the provider or a letter that can be printed off and posted.

This process takes about 5 minutes and makes writing a complaint simple.

Information on PPI

PPI can be ridiculously expensive. For example, adding PPI to a £7,500 five-year loan could cost an additional £2000-£3000.

PPI only pays out for a limited amount of time, usually 12 months, although some policies offer a 24 month pay-out period.

Credit and store card PPI sometimes covers only the minimum amount that must be paid each month.

When sold alongside loans or finance agreements, PPI is currently sold as a ‘single premium policy', which means a lump sum covering the cost of the insurance is added to the amount you have borrowed, so you end up paying interest on both the insurance premium and the loan.

PPI policies last for just five years, so if your loan or finance agreement is for longer than this, you'll still be paying interest on a policy that has long since expired.

What Which? has done:

Since the late 1990s, Which? has been calling for changes to the PPI market. Over the years our research has shown that PPI is often mis-sold, which is why we've launched our campaign to help consumers gain the compensation they deserve. In July 2008 Which? gave evidence to the Competition Commission as part of their enquiry into the PPI market.