Average Payout: £2,755
Payment Protection Insurance (PPI) was commonly sold alongside loans and other financial agreements generating billions for banks. There is a strong chance that Payment Protection Insurance was added to your policy without you knowing or mis-sold because it would never provide the cover you needed.
Credit/Store Card PPI
Average Payout: £1,320
Payment Protection Insurance (PPI) was commonly added to Credit Cards and Store Cards. Thousands of people have been mis-sold policies by all the big lenders totalling millions of pounds.Many Store Card policies were also sold by shop staff with little or no training who routinely added PPI to boost profits.
Mis-sold Mortage PPI
Average Payout: £2,090
Mortgage Payment Protection Insurance (PPI) was sold alongside thousands of mortgages. Although it was designed to cover repayments should you be unable to work, thousands of policies were mis-sold by mortgage advisors who focused on their own financial gain, not what their customers needed.