The latest PPI payout figures have been released by the Financial Conduct Authority (FCA). In April £410.3m was refunded, making it the highest payout month of 2014 so far, beating January by a substantial £21.1m.

Seeing as April represents the 40th month that payout figures have been recorded by the FCA we thought it appropriate to have some Ruby anniversary celebrations! And by that we mean a blog post all about PPI claims compensation.

£12.5m refunded every day
The most common figure bandied about to do with PPI claims is the set-aside figure, currently £22bn, this is the total amount the banks have put to one side to cover PPI compensation. But what we hear less about is the amount that’s actually been refunded, currently £15.1bn since January 2011 or £12,592,592.59 every single day.

By using a magical PPI claims calculator we can work out that £15bn over 40 months puts the average monthly refund total at £375m, but some months have seen much more refunded with one returning over £735m to mis sold consumers. The figures are derived from compensation data released by 24 firms that made up 96% of complaints about the sale of PPI last year. Here’s the breakdown:

Monthly PPI payouts

Jan £389.2m
Feb £329.5m
Mar £349.8m
Apr £410.3m

Jan £439.3m
Feb £409m
Mar £375.9m
Apr £424m
May £422m
Jun £498m
Jul £528m
Aug £446m
Sep £444m
Oct £524m
Nov £425m
Dec £324m

Jan £405.4m
Feb £473.1m
Mar £501.6m
Apr £572m
May £735.3m
Jun £614.6m
Jul £512.3m
Aug £601.4m
Sep £516.4m
Oct £578.2m
Nov £410.8m
Dec £360.1m

Jan £36m
Feb £36.1m
Mar £32.4m
Apr £28.6m
May £39.8m
Jun £66.4m
Jul £103.2m
Aug £244.5m
Sep £225.3m
Oct £321.9m
Nov £464.4m
Dec £535.5m

PPI payout patterns
If you analyse the payout figures you can begin to see patterns. Payouts tend to peak in the middle of the year, possibly because people start the new year thinking about their finances and make a claim. Claims usually take anywhere from six to eighteen months which backs this up.

May 2012 saw the highest compensation bill, 12 months after the High Court case that kicked off wide-scale claiming – at the time there was a 12 month delay from claim to payout. Talking about the April 2011 court case, you can clearly see the impact on compensation payouts. January 2011 saw £36m refunded, by December over £535.5m was refunded, that’s over £500m more being refunded in the same time-period.

Justice, in the form of tens, twenties and fifty pound notes. If you’d like to find out how much of the compensation pot you can claim, use this free PPI calculator. Just enter a few details about your loan and repayments and you’ll receive a ballpark figure of what you’re owed, then if you’re happy – you can start your claim!

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Where to Invest in the UK Stock Market

by John on July 14, 2014

in Money

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When it comes to the UK stock market —and every other market right now— people are growing more and more concerned with a possible tech bubble burst. Investment experts, such as Tom Stevenson, believe that 2014 will be the year we relive the implosion of the dotcom bubble burst that brought the market to its knees, back in 2000. That being the case, maybe the best place to invest within the UK stock market is anywhere except the technology sector.

The following are some UK-based companies that may be both safe from the impending implosion, and offer long-term, continuous growth over the next several years. They are titans in their markets and have technical statistics that suggest prosperity for the organisations (and a return on investment that will leave shareholders happy).

easyJet is an airline carrier operating principally in Europe. easyJet operates approximately 600 routes, across more than 30 countries with its fleet of over 200 Airbus aircraft.

easyJet would have been an excellent investment anyway, however, it recently had its “buy” rating restated by Investec in a note issued to investors and the media. Investec’s price target would suggest a potential upside of 11.94%. Several other investors placed an “overweight” rating on easyJet stock in previous months; however, we may see many investor organisations giving easyJet the thumbs up in the weeks to come.

Good Energy
Good Energy Group Plc operates as a holding and management company for utilities. Good Energy profits from the purchase, generation and sale of electricity from renewable sources, and the sale of gas and services relating to micro-renewable generation. What makes Good Energy such a great buy is that it is a vertically integrated utility company. This means that it sources 100% of its electricity from renewable sources. It supplies approximately 34,000 domestic and commercial customers, and supplies gas to approximately 10,500 domestic customers.

In a market where everyone is attempting to excel in a renewable energy world, Good Energy does—while making its investors happy. The one-year return on investment for Good Energy…76%.

Breedon Aggregates
Breedon Aggregates Limited is a holding company involved in the quarrying, production and sale of aggregates and related activities. Breedon Aggregates operates quarries, asphalt plants and ready-mixed concrete and mortar plants, supplying the West Midlands, East Midlands and eastern England. Additionally, they offer contracting services that fulfil minor road-surfacing projects, as well as infrastructure contracts.

Breedon Aggregates has performed consistently (and impressively) over the last two years.

Optimal Payments
Optimal Payments Plc provides online payment solutions to Internet merchants and consumers worldwide. Optimal Payments provides services, much like PayPal, to businesses and individuals which allows them to process direct debit, electronic checks, and credit card payments.

Joel Leonoff, Optimal Payments’ CEO, was recently rewarded the 2014 UK Stock Market Award for CEO of the Year. This reward is based on “delivery of strong fiscal results, the highest level of financial controls and corporate governance and expert communication with the market but also the successful development and implementation of a company’s strategy.” For this reason, Optimal Payments could be a victor, even in the face of a technological bubble burst.

If none of these intrigue you, you might be better served with an ETF or binary options trading. There are many trading options companies that boast that they have the “strong reputation for paying out high ROIs.” Moreover, they can offer lower risk and higher rewards.

Whichever way you decide to invest, remember the number one rule of investing…diversification. Safety first!

Investments can go down as well as up, and any opinions expressed in this article are just that.

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What Affects Your Credit Rating Score?

July 11, 2014

A credit rating score is an assessment of your ability to fulfil your financial commitments, such as mortgages and credit card bills. The assessment is based on knowledge of any previous financial dealings you have had. A poor credit history will lead to a poor rating, meaning that lenders are more likely to turn down […]

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Why We Save

May 20, 2014

We live in a world where a lack of savings, can stop us doing the things we want with our friends and families. Savings are a safety net providing us peace of mind, should we come up against an unexpected expense. Lending is available from companies like MYJAR. Long term solutions however, are something that […]

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The New ISA [NISA]

March 31, 2014

Individual Savings Accounts or ISAs, are a well known UK savings product, which allow savers and investors to put an annual sum of money away from the taxman. Because this is a tax free product, the interest rate received is almost always higher than you would get in a current account. Any sum up to […]

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How to Properly Read Your Credit Report

February 11, 2014
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A credit report or credit file as it is sometimes known can be a scary prospect. What goes into your credit rating? Is there anything that might count against you? Is it possible to have it rectified if it’s inaccurate? Before you jump to conclusions, there is no need to panic. The key is to […]

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Energy Suppliers, Why Switch?

January 28, 2014

This Friday, thousands of households could be facing much higher energy bills, due to many tariffs from the UK’s biggest suppliers, coming to an end. If you are a customer of one of the big six energy providers, and your tariff is ending, you could be looking at, on average, a 13.7% increase in the […]

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PPI Claims Process

January 21, 2014

If you’ve heard about PPI claims and wondered if you could be owed money, this info-graphic will explain where to start.

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Five Great Places To Put Your Dosh

December 13, 2013

With Christmas nearly upon us and thoughts turning to the New Year, what better resolution than to get your money working harder for you and actually getting around to moving it into a better savings account or investment. With interest rates at an all-time low in the UK, finding the right place to put your […]

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Festivities And The Dreaded C-word

October 29, 2013
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If, like most people, you face the same cashflow issues every year. All those end of the year festivities and the dreaded c-word, (that’s right, it’s not even November and I’m already talking about Christmas) you know that come January, you’ll be stretching the weekly food budget by eating pasta pesto for the entire month. […]

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