Millions of Britons could be entitled to a second wave of lucrative payment protection insurance (PPI) compensation after a series of court rulings found the products were “unfair”.
It means anyone who was denied a payment, received only partial refunds or has never claimed can demand all their money back — regardless of whether the products were appropriate for them or not.
Banks have forked out £38bn in compensation for missold PPI, the largest consumer redress scheme in British history, but this amount could jump sharply.
PPI policies were commonly sold alongside loans, credit cards and mortgages to cover repayments if people could not do so, perhaps due to illness, disability or redundancy. However, they were routinely marketed to people who may not have been
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2020-08-08 23:01:00Z
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