Are claims companies cashing in on PPI?
Claims management companies have earned an estimated £2 billion by lodging PPI mis-selling claims on behalf of customers, report Which?
Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in C:\inetpub\wwwroot\2025.financialreporter.co.uk\htdocs\templates\front-end\partials\article_blockquote.php on line 2
This means the average cost of using a CMC is in the region of £825.
The use of CMCs is controversial as the claims process is straightforward, and anyone who has been mis-sold, or suspects they have been mis-sold is able to seek redress without help from a third party firm.
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
Iress
Iress announces major upgrade to Xplan Mortgage platform
Mortgage Rates
Barclays relaunches sub-4% mortgage rate
Lloyds
Lloyds partners with Connells and LMS to launch fully digital homebuying journey
FCA
FCA sued over compensation scheme that 'significantly underestimates harm'
Mortgages
Mortgage affordability at tightest level since 2008: UK Finance
FCA
FCA announces changes to streamline senior managers regime
