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How Much PPI Compensation Am I Owed?

Many are asking the question “How Much PPI Could I Win?” and similar questions such as: “If I win a claim how much will I be refunded?” and similar questions.

When it comes to missold ppi, as long as you have a valid claim andyou’re eligible to claim PPI compensation you could be owed £1000s, here we will give you a vague idea of what you could be owed if you successfully reclaim your PPI with us.

Some Clients Experiences

There have been successful claims that have completed and have awarded people in excess of £60,000 in compensation, this is not a typical figure for an average PPI claim, however it is possible for people to claim vast sums of money if they have it due in compensation.

PPI Claims – Average Claims Values

The average value of a PPI claim is considered to be somewhere in the region of £2,750, however many people have more than 1 PPI claim, and not only this, the sum of money owed for each claim can be much higher (like the example above), the sum of money can also be lower, but there may also be multiple claims, usually for each person who makes contact with us there is more than one claim, and the amount of compensation from one claim to the next can vary considerably, here at PPIClaimsService.co.uk claims management we have seen claims range from the several hundreds through to the several tens’ of £10,0000s..

It may be misleading to give you an exact figure on the amount of money you may be owed, so instead we choose to give you detail and some elaboration around what you could be owed, but it’s probably more accurate to get in touch with us so we can investigate on your behalf, this way you maximise our expertise, and all work on your potential claim is done on a no win no fee basis (should you decide to use a claims management company), if you choose not to use a claim company, you may wish to pursue your own claim with the financial ombudsman.

Individual Differences In Claims

Each PPI case from one person to the next will differ on a case by case basis so it is not accurate to make too much of an assumption as to how much compensation you could stand to win, you can get a better idea of this by contacting our expert PPI claims solicitors (we are not only a claim company but also claims solicitors), they can not only investigate your claim on your behalf on a no win no fee basis, but they may also be able to give you an overview of the amount of compensation you could be owed as a PPI refund.

We Claim PPI Payments Plus Interest

We also claim charges and the statutory rate of interest, (this is the rate of 8%) so you would not only be due compensation for your contributions to the miss sold PPI policy, but interest added on top of that figure.

Types Of PPI Policy And The Impact On The Refund Amount

Generally mortgage PPI claims tend to be larger sums of money due to the insurance contributions being larger and the loan length generally being more long term than other types of PPI claim, however with this being said, other types of PPI claim can often complete faster, so each type of claim has its’ own unique characteristics.
It is worth claiming whichever type of claim you are pursuing. We have also seen large amounts of money reclaimed for both loan arrangements and credit cards etc.

Am I Due PPI Compensation?

This is a matter for the PPI check, you’ll realistically only know for sure if you’re due PPI compensation once the investigation and check are underway and we look into that for you properly.

How Much PPI Could I Win On A £60,000 Mortgage?

If you have a valid claim on a £60,000 mortgage here is an assumption for you (the value given here does not necessarily constitute exact figures of a successful PPI claim, it is put here for illustrative rather than instructive purposes).

Assumptions On A Successful PPI Refund on a £60,000 Mortgage:
If you had a mortgage of £60,000 from 8 years ago with an interest rate of 1.99%, your estimated PPI refund would be in the region of £14,063.00

If you had a mortgage of £60,000 from 5 years ago with an interest rate of 2.50% your estimated PPI refund would be approx: £13,620.00, you#ll get the cost of ppi plus the statutory rate of interest and charges over time, however reclaiming PPI often involves a lot more than just sending a letter, if there is plenty of work to keep a claims company active then that should tell you all you need to know!

If you had a mortgage of £60k from 10 years ago with an interest rate of 2.00% your estimated PPI reimbursement would be approx: £14,592.00

As you can see, PPI claims can be a substantial sum of money and we would recommend you make use of expert assistance from us to help you in your claim.

If you would like to reclaim your miss sold PPI compensation, get in touch with us now using the form at the top of the page, all claims are no win no fee, we have expert solicitors ready and able to help you.

When reclaiming PPI remember if you missplace your paperwork (whether it be loan ppi, credit card ppi, mortgage PPI, or another form) don’t panic, we can help you make a successful claim for compensation anyway.

Simply get in touch with us for more information on our claims management services.