One of the most frequently asked questions about claiming back mis-sold Payment Protection Insurance is ‘How much can I claim back?’. Most people like to know this information so they can decide if proceeding with a claim is worthwhile. Although this is a tricky question to answer exactly, there are ways of estimating how much your refund may be. Many websites offer a PPI Calculator which will tell you approximately how much you can expect claims to be. The calculation isn’t that difficult to work out as long as you know the interest rate, amount and period of your loan or mortgage.
Below you will find a basic PPI claims calculator that will give an approximate amount that you can expect to achieve. For a more accurate estimate you need to find out the exact details of your insurance and use the formula.
PPI Calculator video on Youtube
Martin Lewis PPI page.