The PPI Judicial Review Outcome is good news for consumers. Banks and lenders have to repay the mis-sold ppi premiums that they mis-sold. As a result of the PPI Judicial Review Outcome banks and lenders will now also have to look at past sales of payment protection insurance even if consumers have not complained.

It was expected that the British Bankers Association (BBA) would appeal against the PPI Judicial Review Outcome as they felt it was wrong to apply new guidelines to old cases. Once lenders such as Lloyds, Barclays and RBS reviewed the details of the PPI Judicial Review Outcome they decided it was not in their best interests to appeal the ruling and instead set aside billions of pounds in provisions to compensate victims of the ppi mis-selling.

It is expected that as a result of the PPI Judicial Review Outcome millions of mis-sold ppi policies will be processed. It has been widely documented that the PPI Judicial Review Outcome may result in lenders having to compensate consumers with as much as £12billion in compensation.

The PPI Judicial Review Outcome is fantastic news for consumers but let’s not forget this compensation is well deserved. Lenders ripped of consumers by mis-selling this costly insurance to people who did not need, want or would benefit from its cover. The PPI Judicial Review Outcome is certainly considered a victory for consumers but the process was a long, drawn out and tiresome one. People have been waiting a long time for this outcome and thankfully they have got the result they were hoping for.

What does the PPI Judicial Review Outcome mean for consumers?

During the PPI Judicial Review the majority of lenders, except for Santander put cases of mis-selling on hold. With lenders now confirming that they will not appeal against the PPI Judicial Review Outcome it means that lenders will once again start processing ppi claims and compensating consumers where necessary.

Before the PPI Judicial Review Outcome was announced cases of mis-selling were put on hold with most lenders. Now that the PPI Judicial Review Outcome has been announced lenders will once again start processing cases of mis-selling. The PPI Judicial Review Outcome also means that lenders will have to look at the sale of ppi policies even where no case of mis-selling has been processed. There are still a lot of consumers unaware that they have been ripped off and the PPI Judicial Review Outcome means that there cases will now also be reviewed by lenders to ensure that the sale of these policies followed correct guidelines. Lenders have finally accepted that mis-selling occurred in certain cases and steps have finally been taken to rectify the situation.

With such great news as a result of the PPI Judicial Review Outcome there has never been a better time to start your claim. Don’t let your lender keep onto money which is rightfully yours. Start your claim today…