PPI Claims: Could You Still Be Owed Money From Mis-Sold Payment Protection Insurance?
Published 19th of March 2013·Updated 6 April 2026
Reviewed by: Reviewed for accuracy April 2026
The PPI deadline for new claims passed in August 2019, so you can no longer submit a fresh complaint to your lender or the Financial Ombudsman Service. However, if you already submitted a claim before that deadline and it was rejected or is still unresolved, you may still have options. The total amount paid out in PPI compensation across the UK exceeded £38 billion, according to the Financial Conduct Authority.
Short Summary
Payment protection insurance (PPI) was added to millions of credit cards and personal loans, often without customers' knowledge or proper consent. Banks were required to refund premiums plus 8 per cent statutory interest where mis-selling was proven.
The FCA's deadline for new PPI complaints was 29 August 2019. Claims submitted before that date can still be pursued through the Financial Ombudsman Service if your lender rejected them.
If your claim is unresolved, contact the Financial Ombudsman Service on 0800 023 4567. This service is free and independent.
Be cautious of claims management companies that charge fees of up to 25 per cent plus VAT of any payout. You can claim yourself for free directly through the Ombudsman.
What was PPI and why was it mis-sold?
PPI was an insurance product sold alongside credit cards, personal loans, mortgages and car finance agreements. It was designed to cover your monthly repayments if you lost your job, fell ill or became unable to work.
The product itself was not inherently harmful. The problem was how banks and lenders sold it. Many customers were not told PPI was optional; some had it added to their agreements without being asked. Others were sold policies they could never claim on, for example because they were self-employed or had a pre-existing medical condition that the policy excluded.
Barclays, HSBC, Lloyds, NatWest and Halifax were among the major lenders ordered to pay compensation. According to the FCA, over 64 million PPI policies were sold in the UK between 1990 and 2010.
Could you still pursue a PPI claim?
New complaints are no longer accepted since the August 2019 deadline. However, three situations may still apply to you:
| Situation | What you can do |
|---|---|
| Complaint submitted before August 2019, lender rejected it | Refer to the Financial Ombudsman Service |
| Complaint submitted before August 2019, no response received | Contact the Ombudsman if more than 8 weeks have passed |
| Received a payout but think it was too low | Request a breakdown from your lender and challenge if incorrect |
If none of the above apply, your right to claim has unfortunately lapsed.
How to contact the Financial Ombudsman Service
The Financial Ombudsman Service (FOS) is a free, independent body that handles disputes between consumers and financial firms. You do not need a solicitor or a claims management company to use it.
You can reach the FOS at 0800 023 4567 (freephone from landlines) or 0300 123 9 123 (from mobile phones). Lines are open 8am to 5pm Monday to Friday. You can also submit your case online at financial-ombudsman.org.uk.
Complaints handled directly tend to be resolved faster than those submitted through third-party firms. The FOS aims to resolve straightforward cases within 90 days, though complex cases can take longer.
Should I use a claims management company?
Claims management companies (CMCs) advertise heavily and promise to handle your PPI claim on your behalf. The key drawback is cost: CMCs are permitted to charge up to 24 per cent plus VAT of any compensation you receive, according to the FCA's fee cap rules.
On a £2,000 payout, that could mean paying over £576 in fees for a service you could obtain for free through the Financial Ombudsman Service. If your claim is straightforward, there is no advantage to using a CMC. If your case is genuinely complex, a regulated firm may help, but always verify that any firm is authorised by the FCA before proceeding.
What information do you need for a PPI dispute?
To pursue an unresolved complaint, gather as much of the following as possible:
- Your original credit agreement or loan documents
- Monthly statements showing PPI charges
- Any previous correspondence with your lender about PPI
- Your complaint reference number if you have one
If you no longer have these documents, your lender is required to retain records and can provide copies. Contact them directly and request your account history in writing.
Frequently Asked Questions
Can I still make a new PPI claim in 2026?
No. The FCA's deadline for new PPI complaints was 29 August 2019. Any complaint submitted after that date will not be accepted by lenders or the Financial Ombudsman Service. Only complaints submitted before the deadline can still be pursued.
What happens if my PPI complaint was rejected by my bank?
You can escalate the complaint to the Financial Ombudsman Service, provided you submitted your original complaint before 29 August 2019. The FOS will review the lender's decision independently and at no cost to you.
How much compensation could I receive from a PPI claim?
The average PPI payout was around £1,700, according to the FCA, though individual amounts varied significantly. Compensation typically includes the premiums you paid plus 8 per cent statutory interest per year.
Do I need a solicitor to pursue a PPI complaint?
No. The Financial Ombudsman Service is free and you do not need legal representation. Providing clear documentation and a straightforward account of what happened is usually sufficient.
What if I paid PPI on a credit card I no longer have?
Your former lender still holds records of the account and is obliged to provide documentation on request. If you are unsure which bank held your account, check old credit reports from Experian, Equifax or TransUnion, which may show historic accounts.
Were all PPI policies mis-sold?
No. Some PPI policies were sold correctly and some customers made successful claims on them. The issue was specifically with policies sold without proper disclosure, sold to people who were ineligible to claim, or added to accounts without the customer's consent.