PPI has been in the media spotlight a lot in recent years, because of concerns that some of these products may have been mis-sold when customers took out Loans, Credit Cards or Mortgages.
On 2 March 2017 the Financial Conduct Authority confirmed that the deadline for making a complaint about mis-sold PPI or unfair commission will be 29 August 2019.
Customer complaints will need to be received no later than 29 August 2019. This is the deadline even if we've invited you to complain previously.
The FCA regulate the financial sector and protect consumers. They offer information about PPI and can help you understand it, but they cannot give you advice about your individual circumstances or complaint.
You don't need to use a claims management company (CMC). Please contact us directly - we handle complaints in the same way, within the same timeframe and without charging any fees.
Making a complaint will not affect your relationship with first direct, and will have no impact on your credit history or your ability to get financial products from your provider in future.
What is PPI?
PPI is designed to cover the monthly repayments of your loan or credit card, if you are made unemployed, have an accident, become ill or die.
We stopped selling PPI in April 2008 - but before that we sold 4 main products:
- Personal Loan Protection Plan
- Balance Protector
- Flexiloan Repayment Protection
- Mortgage Repayment Protection.
How to complain about PPI
We're sorry if you think you were mis-sold PPI - we'll do our best to investigate your complaint as quickly as we can. In any event, we'll be in touch within eight weeks.
If you have already made a complaint, there's no need to do anything further, unless we advise you otherwise. We'll review your complaint and then write to you confirming the outcome of our investigation.
You can tell us about your complaint in the following ways:
Complete our PPI questionnaire and send it to us at:
40 Wakefield Road
Lines are open Mon to Fri 8am to 5.30pm
Using our online form:
Using our Online PPI form is an easy and convenient way to submit your PPI mis-sell or non-disclosure of unfair commission complaint to us.
The form takes up to 30 minutes to complete, however if you don't have all the information to hand, don't worry, you can still submit your complaint. You can't save your progress, so you'll need to make sure you have plenty of time to complete it.
You'll need information about your PPI, including the policy or account number.
When a bank, lender or other provider sold a PPI policy, the PPI provider would pay them 'commission' for arranging or making the sale. The money for this commission would come out of the payments you made for the PPI policy.
The FCA have introduced new rules that mean customers can complain that their lender earned a high level of commission from the sale of PPI but didn't make this clear when it was sold.
A 'high level of commission' typically means it was more than half of what you've paid for your PPI policy, but you do not need to know how much was earned from the sale of PPI.
The new rules on the sale of PPI mean you can:
- complain even if PPI was not mis-sold or you don't think it was mis-sold
- complain again if you have had a PPI complaint rejected
You can submit a complaint about non-disclosure of unfair commissions, even if you've had a PPI mis-sell complaint rejected previously, by using one of the methods in the How to complain about PPI section above.
If you've already complained about PPI and had a refund of some or all of the money you've paid for PPI, we will not consider a complaint about the commission we earned. This is because there is no remaining loss that you need to be compensated for, and you don't need to complain again.