Look, if you’ve got old bank statements gathering dust or a nagging feeling about that payment protection insurance (PPI) you were sold back in the day, you’re not alone. PPI was massive – banks flogged it on loans, credit cards, mortgages like it was going out of fashion, often without telling folks it was useless or overpriced. The reclaim frenzy peaked years ago, but in 2026, with some twists still bubbling, is there cash to be had? We’ll unpack the deadline drama, exceptions, scams to dodge, and if it’s worth your time. Grab a brew – this could put money back in your pocket.
The Big PPI Deadline: What Actually Happened?
Back in 2019, the Financial Conduct Authority (FCA) slammed the door shut on most PPI claims. The cutoff was midnight on 29 August – you had to complain to your lender by then. Why? Billions already paid out (£38bn+ by some counts), and they wanted to draw a line. Miss it, and banks/Financial Ombudsman Service (FOS) usually say “too late.”
Fast-forward to 2026: That deadline’s ancient history, but not everything’s black and white. If you complained on time, payouts might still trickle (delays happen). New claims? Tough, unless you’ve got a rock-solid excuse. Everyday folk saying “I didn’t know” won’t cut it – FCA’s clear on that.
Can You Still Claim in 2026? The Exceptions That Matter
Straight up: For standard mis-sold PPI (pushed on loans/credit where you didn’t need it, single premium upfront, or no disclosure), no dice if you missed 2019. But here’s where hope flickers:
- Exceptional circumstances: Seriously ill, in prison, or something wild around deadline time? Document it, and FOS might peek. Rare as hen’s teeth, though.
- Plevin cases (hidden commissions): Supreme Court 2014 Plevin ruling opened doors for undisclosed high commissions (over 50%). No strict deadline here – group actions ongoing into 2026. If your PPI had dodgy commissions, solicitors are chasing banks hard.
- Pure protection policies: Sold as standalone insurance post-2019? Or claims handling issues? Those aren’t deadline-bound.
- Failed firms: FSCS covers PPI from bust lenders (post-2005 advice) – no deadline.
- Tax reclaim on old payouts: Got PPI cash pre-2021? HMRC lets you claw back basic rate tax (20%) via R40 form, up to 4 tax years back. Hundreds of quid easy if forgotten.
Group legal claims (like the 2024 Birmingham one) could net £1,000s – no join deadline yet, but hurry as limitation periods (6 years from knowing about issue) loom.
PPI vs. Other Claims: Don’t Mix ‘Em Up
PPI’s dead(ish), but car finance mis-selling (hidden commissions, DDEs) is hot – FCA deadline now 31 May 2026 for complaints. £17bn potential pot. If your “PPI” was on a car loan, pivot there.
Table: PPI Status vs. Similar Claims (2026)
| Claim Type | Deadline Passed? | Still Claimable? | Avg Payout | How to Start |
| Standard PPI | Yes (Aug 2019) | Rare exceptions | £2,500 | FOS/exception proof |
| Plevin PPI | No strict one | Yes, via court | £1,500+ | Solicitor/group claim |
| Car Finance | May 2026 | Yes! | £1,000-£5k | Lender complaint |
| PPI Tax Reclaim | 4 tax years | If pre-2021 | £500 avg | HMRC R40 form |
| Failed Firm PPI | None | Yes post-2005 | Varies | FSCS online |
This shows PPI’s mostly shut, but doors ajar.x
Step-by-Step: Check If You’re Owed
- Dig for evidence: Bank statements, policy docs. Old emails? Gold.
- Free tools: MSE reclaim letter template (even post-deadline for exceptions). Check credit reports for old policies.
- Complain anyway?: Send to lender – if exceptional, they might bite.
- FOS route: Lender rejects? Escalate if valid reason.
- Legal/group: For Plevin, firms like CRS or MSE-linked actions. No-win-no-fee, but 20-40% cut.
- Tax grab: R40 to HMRC if taxed payout.
Took my mate 20 mins to find £1,200 tax back – worth it.
Scam Alerts: PPI’s Dark Side in 2026
Cold calls promising “secret loopholes”? Bin ’em. FCA warns CMCs/lawyers touting post-deadline miracles – many scams. Check FCA register. Upfront fees? Illegal. Real claims firms take % of win.
2026 twist: Car finance scammers piggybacking PPI hype. Verify everything.
Real Stories: Wins and Woe
Win: Lisa missed 2019 (cancer treatment), proved exceptional – FOS upheld £3k claim.
Loss: Mike “forgot” – rejected flat.
Plevin hero: Group of 10,000+ eyeing millions; hearing Oct 2024 set path.
Tax tale: £10k payout taxed £2k – reclaimed easy.
Costs and Risks of Chasing Now
Free to complain direct/FOS. Legal? No-win-no-fee, but if lose, maybe court fees (£500+). Time: 6-18 months for groups.
Worth it? If £5k+ potential, yes. Pennies? Skip.
2026 Rules Roundup: What’s New?
- No new standard deadline extensions.
- Courts flexible on limitation for late discoveries (e.g., commission reveal).
- FCA monitoring scams.
- Car finance steals spotlight – check that first.
Maximise Your Chances
- Document everything: Dates, health proof.
- Join groups early (MSE updates).
- Free advice: Citizens Advice, MSE forums.
- Track via Pension Dashboard? Wait, that’s pensions – for PPI, bank portals.
If PPI’s a No-Go: Other Reclaims
- Mortgage PPI? Same rules.
- Single premium on loans? Check Plevin.
- Pensions mis-sale? Separate.
- Unearned holiday insurance? Worth a punt.
Read More: Will Writing Services 2026: UK Solicitor Costs & DIY Kits – What’s Best for Your Legacy?
Quick Calculator: Your Potential
Old loan £10k with £2k PPI? Mis-sold: 8% + interest (~£3k total). Tax: 20% back.
Table for estimates:
| Loan Size | PPI Premium | Total Reclaim (est.) |
| £5,000 | £800 | £1,200 |
| £20,000 | £3,200 | £5,000 |
| £50,000 | £8,000 | £12,500 |
Add 8% simple interest from sale date.x
Final Nudge: Act Smart
PPI’s mostly over, but exceptions/Plevin/tax mean check now – 2026 could be last gasp for some. Don’t pay scammers; DIY first