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Lloyds PPI charge soars again
Today the much troubled Lloyds Banking Group, still part owned by the UK taxpayer released it’s latest set of figures.
The Lloyds Banking Group includes the likes of Halifax, Bank of Scotland, Blackhorse and of course Lloyds.
As has become part of the norm these days it includes another addition set aside to compensate customers for the PPI mis-selling scandal.
This latest announcement confirmed a further Lloyds PPI charge of £2.1bn, taking the groups total to £16.7bn.
With Santander and RBS already setting aside an additional £950m in their latest figures, the overall bill to all UK banks and lenders now stands at £34.6bn, edging ever closer to our anticipated final bill of £42.5bn.
The bank also set aside £837m for mis-sold packaged bank accounts, another scandal that is starting to gather more media attention.
Misleading investors
Ever since the PPI scandal broke, UK banks have consistently claimed when setting aside further compensation that they expect it to draw a line under the saga.
Inevitably though, three months down the line we generally hear news of more compensation having to be added to the pot, and another announcement that ‘this should be the end’.
PPI deadline
It is widely expected that the toothless regulator will bow to pressure from UK banks and introduce an unfair PPI deadline, probably to be set in 2018.
Why is this unfair?
Simple really, PPI was added without the knowledge of potentially millions of UK consumers thus meaning a complaint cannot be considered as ‘time-barred’ under the regulators own rules.
There is a potential legal challenge to the deadline and we’ll keep you updated along the way.
A new hope
Have you already made a PPI claim previously and had your claim rejected by the lender or even by the Financial Ombudsman?
If yes, there is potential new hope for you to be compensated following a recent Supreme Court ruling.
Your Money Claim can build and submit a new claim on your behalf using technical arguments from the court ruling.
Have you had PPI?
PPI was sold on all forms of credit, such as mortgages, loans, car finance, hire purchase agreements, credit cards and store cards.
Not sure whether you’ve been sold PPI?
Our fast and comprehensive checking systems that have been set up with almost all banks allows us to find out whether you’ve been one of the millions who have had PPI.
Not sure whether you qualify? Check here to see whether you may.
Our average successful customer award is £3,332**!
Want to know how much you may be owed? Why not try our PPI calculator.
Making a PPI Claim
Option #1: Fill in the ‘Start Your Claim’ form on this page. We’ll send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we provide, we’ll make a start on your PPI claim.
Option #2: Click the ‘Download Claim Pack’ button. Simply print out the form, complete it and send it back to us. Our address and email address can be found here.
Our experts are on hand to answer any questions you have via telephone, email or our live chat facility.
Lloyds PPI charge
