PPI complaints

PPI is insurance that pays out a sum of money to help cover your monthly repayments on your loan, credit card and/or mortgage in certain events, which could include unemployment, accident or sickness, hospitalisation or death. This type of cover may also be called loan protection, credit insurance, loan repayment insurance, ASU (accident, sickness and unemployment) insurance, account cover or payment cover.

An easy way to check if you have taken out PPI, is to check your product statements for evidence of premiums paid. Also, you may have policy booklets and loan or credit agreements that show information on PPI. Some of our product names for this type of insurance include Mortgage sure, Payment Protection plus, card or loan protection.

Firstly, please check any available documentation as outlined in question 1 to obtain details of your PPI policy. This will help in progressing your complaint.

The easiest way to raise a query about a PPI policy is to complete a FOS PPI Questionnaire. By filling out the FOS (Financial Ombudsman Service) PPI Questionnaire we will have all of the information we need to assess your complaint.

Once you have completed the form please send it directly to us at:

Lloyds TSB

PPI Customer Services

BX1 1 LT

If you have a Blackhorse agreement, please visit the Blackhorse PPI complaints website.

We encourage our customers to talk to us about PPI:

• We are best placed to deal with any queries our customers have about their PPI policy.
• Rather than talk to a Claims Management Company (CMC), you can find all the information you need about raising a complaint about how your PPI policy was sold on this page. Your complaint will be assessed in exactly the same way if you come to us directly, but you will avoid having to share any potential compensation payments with a Claims Management Company (CMC). Further information on CMCs can be found in a joint note from the CMC Regulators (Ministry of Justice), the FSA, the FOS and the FSCS.

If you have any further query about the way your PPI was sold you can ring a dedicated telephone line for PPI customers 0845 601 2683.

We will investigate any complaint received properly and fairly. Please be aware that if your policy was cancelled over 6 years ago it is unlikely we will have any documentation about the circumstances of your sale, so any information you are able to provide would help us to complete a full investigation of your case.

Yes, even if you can’t find your paperwork we will investigate your complaint properly and fairly. Please be aware that if your policy was cancelled over 6 years ago it is unlikely that we will have any documentation about the circumstances of your sale, so any information you are able to provide would help us to complete a full investigation of your case.

We will send you an acknowledgement letter within 5 days of receiving your complaint.

We will provide a full response as soon as possible and aim to do this within eight weeks of receiving your complaint. If we are unable to resolve your complaint within the initial eight weeks, we will write to you at this stage explaining why we are not able to make a decision and tell you when you will receive a final response from us.

We are committed to giving your complaint the attention it deserves and will send you our full written response as soon as our investigations are complete. The volume of complaints received by banks remains extremely high and we have expanded our team, and will continue to do so where needed, in response to the demand. Based on current numbers, we will send you our full written response as soon as possible and certainly no later than 16 weeks after receiving your initial complaint.

If we received your complaint more than eight weeks ago, we will have explained that you can forward your complaint to the Financial Ombudsman Service. This is a free, independent service for settling disputes between financial services firms and their customers. You may wish to contact the Financial Ombudsman Service first before deciding on what action to take or review the frequently asked questions on its website. In all cases where redress is owed, you will not be disadvantaged by any delay as any interest due will be calculated right up until the date of payment.

We take all complaints very seriously and are committed to handling them on a fair and consistent basis. In line with our complaint-handling policy we will assess your PPI complaint and will provide compensation, including the backdating of interest and payments, where appropriate.

We are committed to ensuring customers receive payment within 28 days of our decision letter. However we have experienced a large volume of new cases over recent months. This has created some complications for us that we are putting right. As a result we are aware that in certain cases, there could be a delay in customers receiving their payment. We apologise if you have not received your payment within 28 days of our decision letter and thank you for your patience. If you are still waiting for your payment and it is more than 28 days since you received our decision letter, please call our helpline on 0845 601 2683. We'll usually be able to make payment to you within 10 working days. If your case is complex it may take us longer and we will keep you regularly updated.

In all cases any interest due will be adjusted right up until the date of payment.

As a general rule, your refund will include a reimbursement of all insurance premiums paid, interest on those premiums and where applicable, interest calculated at 8%.

Where the only failing identified with the PPI sale relates to the specific attributes of a single premium PPI policy (paid for in one payment by additional borrowing on a loan which would incur interest throughout the life of the loan) and in the absence of evidence to the contrary, we may presume that a regular premium payment protection policy (paid for each month with no additional borrowing to the loan) would have been bought instead.

Our offer, in line with the guidelines set out by the Financial Services Authority, would therefore represent the difference between what was actually paid for the single premium PPI policy, inclusive of interest and what would have been paid for a regular premium PPI policy. Additional interest at 8% would also be added to the refund.

If you would like the details on the final decision letter explained to you, please call us on 0845 601 2683.

Her Majesty’s Revenue & Customs (HMRC) regard any statutory interest paid at 8% to be taxable benefit and as such you are required to declare this as part of your tax return.

We are not reopening complaints that have already been closed. When responding to complaints, we always tell customers that they have 6 months to raise any concerns over our decision to the Financial Ombudsman Service (FOS).  If you have new or different concerns, then we’ll be happy to review those as part of any new complaint you raise with us. We are also reviewing certain Payment Protection Insurance sales processes dating from 2005.  If we find the need for a further assessment of the sale of your PPI policy we will write to you. At the moment, you do not need to do anything.

No. We will stand by any offer to settle a complaint that has already been made to you or a third party acting on your behalf.

We will work with the FOS and provide them with all of the relevant case notes to allow them to complete their investigation. We will also liaise directly with the FOS to deal with complaints as quickly as we can.

No. In July 2010 we announced that we would no longer sell our range of PPI to personal and business customers.

Yes. You can still make a complaint about how your PPI Policy was sold even if you have since cancelled the policy. Details of how to complain are provided above. It’s easy for you to complain to us directly so you don’t need to use a Claims Management Company. Your complaint will be assessed in exactly the same way if you come to us directly but you will avoid having to share any compensation payment with a Claims Management Company.

In October 2010 the British Bankers’ Association (BBA) asked the Courts to review the recently published rules made by the Financial Services Authority (FSA) in relation to PPI sales-related complaints. The BBA also asked for a review of the guidance published by the Financial Ombudsman Service (FOS) on the handling of PPI complaints. In May 2011 we announced that we would no longer be participating in the BBA’s Judicial Review. The BBA subsequently decided that it would not be appealing the Court’s decision that the FSA’s rules should be implemented in full.

The following bodies have information relating to PPI complaints and /or advice on making a complaint:

Financial Ombudsman Service

Financial Services Authority

Citizens Advice Bureau

Which?

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