If you took out a loan, credit card or store card at the peak of PPI mis-selling you may be eligible to reclaim your premiums. Read our guide to reclaming PPI and then get started with our template letter below.
[Your name and address]
[Name and address of company who sold you PPI]
Dear Sir or Madam,
Re: Account number: [Your account number]
I am writing in relation to a payment protection (PPI) policy, associated with the above account, which I do not believe was sold to me correctly or fairly.
I believe you have not treated me fairly for the following reasons:
[Delete all that do not fit your circumstances
- I was unemployed/self-employed/retired (delete as applicable) when I took out the policy which included unemployment cover that I would not have been eligible for
- I had a medical condition at the time of taking out the policy that would have prevented me from claiming on the policy should I have needed it
- I was older than the upper age limit for the policy at the time of taking the policy out
- The term of my PPI cover was shorter than the term of my loan and it wasn’t made clear to me that I wouldn’t be protected towards the end of the term
- I was not told about the exclusions of the policy and it was not explained to me that I would be unable to claim in the event that [list specific exclusions here]
- The total cost of adding PPI to my loan was not clearly explained to me
- The quote I was given for the cost of the loan automatically had PPI added
- I was told that PPI was a compulsory purchase with my loan
- I was told that I had to protect the loan with PPI cover from your company
- I felt that I was being pressured into taking the cover and unable to say no
- I was not told how to go about cancelling my policy
- I already had cover in place that could have protected my repayments but wasn’t asked about this/ was told that I needed to take this cover out too (delete as applicable)
- I wasn’t asked if I wanted PPI cover, it was added without me giving consent.]
Unless you can provide proof that the policy was appropriate for my circumstances and that I was treated fairly when you sold me the insurance, I will expect a full refund of all premiums as well as the interest that I have incurred as a result of having the PPI cover.
I look forward to your prompt response to this letter.
If I have not had a satisfactory response from you within eight weeks of this letter I will contact the Financial Ombudsman Service to formally investigate my complaint.
Compare money deals - find a great money and finance deal in minutes Compare money deals