Another £44.1 million set aside for PPI claims against Northern Rock and Bradford & Bingley

In the wake of the 2008 financial crash, the government set up UK Asset Resolution (UKAR) to manage the toxic assets of both Northern Rock and Bradford & Bingley

A surge in new claims prompted by the FCA’s consumer awareness campaign about the PPI claims deadline has forced the bank to raise the amount available to pay the new claims expected before the August 29th 2019 deadline.

UKAR has now set aside another £44.1 million to pay out future successful PPI claims.