Payment protection insurance is usually designed to protect you in the event of unforeseen circumstances. These circumstances may involve you losing your job or becoming too sick to work. A good policy will cover you for lifes hardships, but unfortunately many of the policies sold by UK banks in the past decade provide little cover if any at all.
Millions Set Aside for PPI Claims Claim Your Share
Yorkshire Bank is just one UK bank that has set aside millions of pounds in preparation for the PPI claims coming its way. These claims could be worth thousands of pounds in many cases and the bank is obligated to refund all payments in full if a policy is found to have been missold.
That means if you were missold credit card insurance, mortgage insurance, or any other type of payment protection insurance you could be eligible to make a claim.
The problem with the cover sold by Yorkshire Bank and other lenders is that it can be costly to the policy holder and very often provides a low level of cover. The cost of PPI differs considerably and depends on the type of borrowing it is attached to.
How PPI is Calculated
Typically, the amount you pay is 25% of the core loan amount. If you took out a personal loan of £15,000 you could expect to pay around £3,750 over the course of the loan for PPI cover. Your payments may also attract interest if the PPI is added to the total cost of borrowing pushing up the total even more.
The good news is that we can identify any instances of missold PPI and claim your money back plus interest. All you need to do is call our number to speak to one of our friendly and knowledgeable claims advisors, or simply complete the online form.
Claim Your Money Back Now
We have years of experience when it comes to making claims against Yorkshire Bank and other lenders. By bringing your claim to us you can be sure that your claim will be dealt with professionally by experienced advisers.