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PPI Updates

lse:lloy

#1

Does anyone know when July is likely to be updates?

https://www.fca.org.uk/news/ppi-monthly-refunds-compensation


#2

No, but looking at the link you posted in may be as late as early September. The last update was made on August 8th, probably to include the June data, so it seems to be 4-5 weeks after the relevant period, hence ~8th September.


#3

and only 12 months to go

Hallelujah to the good Lord


#4

Several months further on from the original post on this thread. I noticed there were separate threads for the July and August updates from the FCA, but I have not seen one for September. The link shown in the @Swamp_Cat post shown above takes one to the latest data.

We hit a peak in May 2018 and the monthly payments have fallen for each of the past four months, such that they are now 23.4% lower than the May peak. The September payment figure is 10% lower than the previous month, and this is the largest drop (in absolute as well as percentage terms) of the previous four months.

This appears to show that, despite the advertising campaigns and pressure on the financial institutions to increase their payments, the claims are being less successful in getting payouts.

My calculations show that the proportion of the total payouts attributable to LLOY has been falling as time passes (indicating that LLOY was more at the front of the payment list initially) and it is entirely possible that the current level of provisions may be adequate, especially if the monthly payouts continue to drop. In fact the provisions might turn out to be too high, so some write-back might occur in about 18 months time; would not that be nice!


#5

September update just released by the FCA - £309m paid industry wide a reduction of £33.3m on the previous month and the fourth consecutive month of decline.

Get a Brexit deal across the line and there will be every reason to be optimistic about the SP. The politicians need to calm down and appreciate that every deal is a compromise. The fact that so many MPs have no commercial experience of deal making at any level is now directly exposed. Their commercial naivety is quite awful to behold and could cost the country dear. They really should start thinking about the good of the country rather than partisan political advantage or indoctrinated beliefs that they espouse with almost religious fervour. They don’t seem to notice that the vast majority of the country just want Brexit finished.


#6

Thanks its certainly is declining

Little cheer from the regardless household :slight_smile:


#7

Thanks Regardless

I am cautiously optimistic that when “push comes to shove” the Conservative rebels won’t like the alternatives and, with great reticence, will vote Mrs May’s plan through. Simply to get Brexit across the line. Once a deal is done all kinds of positive stuff will happen not least the release of investment funds into the economy. I read recently that UK companies are sitting on a cash pile which is at its highest for 25 years.


#8

Mrs May is getting a lot of respect from the general public … sadly the most politicians are self serving and we all getting a little tied of this circus


#9

If that was ever the case then there wouldn’t have been a Referendum in 2016.


#10

For those with an interest in the PPI figures from the FCA. November 18 just released at £306.7m and October revised downwards to £328.3m.

https://www.fca.org.uk/data/monthly-ppi-refunds-and-compensation

Excellent news for shareholders - looks like we may have reached a peak in terms of payment levels. There could of course be a late burst of activity but these figures are encouraging.


#11

Thanks beyondthesea

folks only 7 months left :slight_smile: Antonio will have a spring in his step again feather in the cap

Its now flying by


#12

December figures should be out soon. With November having been the first fall in payouts for the same month 2017, it will be interesting to see if December also declines from December 2017.


#13

I reckon a last minute rush on PPI

My Facebook live feed has been inundated advertising overtime campaign with PPI claims companies

It’s been nearly 9 years now

Anyone claiming I recommend you claim direct most are fraudsters wanting your bank details IMHO