Information about PPI
The Financial Conduct Authority (FCA) has published a leaflet which provides information to help you decide whether you should make a Payment Protection Insurance (PPI) complaint. The leaflet is available here.
The FCA regulate the financial sector and protect consumers. The FCA provides information about PPI and can help you understand it, but can't give you advice about your individual circumstances or complaint.
The deadline for submitting a complaint about the sale of a PPI policy is 29 August 2019. You won't be able to complain after this date.
Making an enquiry or complaint about PPI
You can make an enquiry or complaint in writing (by post or e-mail), by phone, or in branch by contacting us as follows:
- Write to us at: The Compliance Department, 6 High Street, Loughborough LE11 2QB
- By e-mail: Contact us at: firstname.lastname@example.org - It would be helpful if you could indicate in the subject box that your e-mail relates to a PPI enquiry or complaint (as appropriate).
- By phone: Contact us on: 01509 610707
- In branch: You can go into your local branch and explain that you want to make a PPI complaint.
We'd like to assure you that checking whether you had PPI or complaining about PPI won't affect your relationship with the Loughborough Building Society (the Society) nor will your credit score be negatively affected.
How we'll handle your PPI complaint
We’ll write to you to acknowledge receipt of your complaint within three working days and aim to provide our final written response within one month. However, on occasion matters may need more detailed investigation and in such circumstances we’ll ensure that we keep you informed of progress.
In the event that your complaint is not resolved within eight weeks we’ll write to you explaining the reasons for the further delay and indicate when we expect to be able to provide a final response.
What information do I need to provide when I make a PPI complaint?
To help us investigate your PPI complaint please provide us with as much information as possible about your policy and the sale of your policy. You should try to include the following when you complain:
- Your full name
- Your date of birth
- Your address
- Your phone number - this is useful if we need to contact you to ask for more information
- Your PPI policy number - this is not essential but is useful if you know it
- When you bought your PPI policy
- When you took out the loan or credit product that the PPI covered
- Your circumstances at the time you bought PPI, such as employment status and the company or organisation you worked for
- The reason for your complaint
The Society takes protection of its customers' personal information very seriously and as such we may need to request identification to enable us to verify your identity before we can respond to your complaint. For joint policies and accounts we'll require signed written authority from all account holders.
What if I'm not happy with the outcome of my complaint?
If you’re unhappy with the outcome of your complaint then please contact us again using the details on the letter we’ve sent you. If you have any additional information which is relevant to your complaint then please let us know. Any new information will be considered and your complaint will be reopened to take this information into account.
If you remain dissatisfied with our response, or we haven’t issued our response within eight weeks of the date you first raised your complaint, then you may be entitled to refer your complaint to the Financial Ombudsman Service. The Financial Ombudsman Service is an independent service for resolving complaints or disputes with financial firms.
Further information on the Financial Ombudsman Service can be obtained from their website: www.financial-ombudsman.org.uk. Alternatively you can ask us for a copy of the Ombudsman’s explanatory leaflet ‘Your Complaint and the Ombudsman’.
You can contact the Financial Ombudsman Service at:
The Financial Ombudsman Service, Exchange Tower, London
Phone: 0845 080 1800