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Lloyds PPI fund tops £12 BILLION

It has long been claimed by British banks and lenders, and so called city experts, that the final PPI bill would stand at around £25 BILLION.

We, on the other hand, have estimated a much higher bill, taking into account the millions who have yet to stake their claim.

Our estimations place the final bill at well over £30 BILLION.

It would be higher if banks had handled consumer complaints fairly, but would we really expect that to happen?

Bank reporting season

Now is the time of the year when UK banks and lenders report their figures to the city, and inevitably admit that they have to add more to the ever increasing PPI compensation fund.

Yesterday we had the RBS / Natwest group adding £650m, and today is the turn of the Lloyds Banking Group.

Lloyds Banking Group, which includes Halifax, Bank of Scotland and Blackhorse, have been by far the biggest culprit of PPI mis-selling, and today we learn that they’ve added a further £700m to the Lloyds PPI fund.

This takes their total bill alone past the £12 BILLION mark, and the overall bill to UK lenders close to £27 BILLION, an extraordinary figure.

There is more to come

With Barclays, Santander, HSBC and the numerous smaller lenders still to declare their figures could we potentially see the PPI bill hit the £30 BILLION barrier before the end of the year?

If I were a betting man I’d certainly be placing my money that it does.

Making a Lloyds PPI Claim

Not sure whether you’ve been sold PPI? Our fast and comprehensive checking systems that have been set up with almost all banks, including Lloyds, Halifax, Bank of Scotland and Blackhorse, allows you 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.

Want to know how much you may be owed? Why not try our PPI calculator.

If you have had a loan, mortgage, hire purchase agreement or credit card within the last 25 years there’s every chance you’ll have been paying for PPI.

We’ve made claiming easy, taking the stress out of you having to deal with the paperwork, the stress, and the tactics employed by the bank to try and wriggle out of paying.

So….how do you start your claim?

#1: The first option for you is to fill in the form which can be seen on every page. By doing so, we will send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we send you with your form, we can make a start on your PPI claim.

#2: The second option for you is to download our form, which again can be found on every page by clicking the ‘download pack’ button. Simply print it out, complete it and send it back to us, our address can be found here. Once we receive is back we’ll let you know and make a start.

Our team of experts are on hand to answer any questions you have via telephone, email or our live chat facility.

So….why wait, let’s get started!

Lloyds PPI fund passes £12bn

Lloyds PPI fund passes £12bn

About the author

Daniel Lee

Company Director

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