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 reclaiming 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.