PPI Calculator Assumptions

Loans

 

We assume you have made every payment in full, have not missed any payments until your end date and your loan was a standalone product (not re-financed) with a lump sum of PPI added to the initial amount borrowed. If you do not know the amount of PPI you paid, we estimate it.

Cost of PPI on loans varied depending on the duration of the loan. 

 

Mortgages

 

We assume you maintained the same monthly PPI payment for the life of your mortgage and did not miss any payments.

If you do not know the amount of PPI you paid, we estimate it by using 6% of your monthly payment.

 

Cards

 

We assume you maintained the average statement balance each month for the life of your card and you did not incur any fees for going over-limit or missing a payment and you did not use your card for cash withdrawals.

If you do not know your card  interest rate or cost of PPI, we estimate these at 20% pa and a typical £1 per £100 statement balance each month.