Which? response to Lloyds setting aside a further £700 million for PPI claims

Gareth Shaw, Which? money expert, said:

“With a deadline now set for the victims of this mis-selling PPI scandal to make a claim, it’s only right that some of the UK’s biggest banks and building societies are setting aside more money for claims.

“We’re urging consumers to use our free PPI claim tool rather than claims management companies, who can charge up to a third of the compensation offered. We’re also calling for other banks to sign up to the tool and for the regulator to make free-to-use tools a more central part of its communications campaign.”

Notes to editors:

  • This week, Which? relaunched its free PPI tool, to view and use at: www.which.co.uk/ppi
  • The Which? PPI tool is a simple online form that guides people through the information they need to make a PPI claim and sends the claim directly to their PPI provider, regardless of whether they have any of the paperwork or not. Major banks and building societies now signed up to the tool include Barclays, Santander, HSBC (M&S Bank, First Direct, John Lewis, HSBC), RBS (Natwest, Ulster Bank), Lloyds Banking Group (Halifax, Bank of Scotland) and Nationwide.