Payment Protection Insurance
Payment Protection Insurance may be sold to you when you have any kind of finance (Mortgages, Loans, Credit Cards & Hire Purchase Agreements). It is a protection insurance sold to cover your monthly payments in case you have an accident, become sick or unemployed.

A single premium, also known as loan funded means that you pay the full amount of the insurance up front. This is normally added to the debt, which means you would pay interest on it for the term of the loan. For example, if you took a loan of £5000 the insurance cost of £1500 would be added meaning the total amount borrowed is £6500 and this would be the amount you pay interest on. Most policies have a term of 5 years or less. However, if the term of the loan is longer, there may be a possibility you will still be paying interest even when the policy is no longer covering you.

Payment Protection Insurance has many different names including:
• Accident Sickness and Unemployment Insurance (ASU)
• Loan Protection
• Card Protection
• Gold, Silver or Bronze Cover (normally provided with Northern Rock and HBOS loans)
• Loan Care
• Repayment Protection Insurance also known as RPI (normally provided with Egg loans)

Why should I use Ashley Howard Limited when I can do this myself?
• Ashley Howard saves you the time and effort of dealing with the complaint alone, however this is something that you can do yourself at no cost via the Citizens Advice Bureau or the Financial Ombudsman Service
• Ashley Howard can identify PPI through various processes we have in place with the lenders.
• Ashley Howard will endeavour to make sure that the company you're claiming against follows the FCA guidelines and time limits within the industry.

What could you claim back for me?
If your claim is upheld then the redress will include all PPI premiums actually paid plus statutory interest (currently 8 %), which in some cases can significantly increase your redress.

Will this claim affect my relationship with my lender?
No. The Financial Services Authority does not allow any company to disadvantage a customer because they’ve made a complaint.

What information do I need to provide you with?
All we need from you are the key details that the Claim Pack requires, it is very straight forward to complete. Once we receive your claim pack we can obtain any further information we may need to progress your case should we need to.

Can I still complain about the mis-sale even if I’ve made a successful claim on the insurance?
Yes. We will assess your case on its own merit once the pack is returned. Please provide a summary of the claim and any payout that you have received.

Can I claim compensation even if my loan is paid off?
Yes. If you have had previous loans that you wish to claim on please call us for further application forms on 01625 524 187.

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  • Average PPI Claim¹£2,228.63
  • Average PBA Claim²£2,037.63