joint loan, one person covered on ppi

laurence_p

hi my case against hsbc is now with the foc, i knew my wife was the only one covered by the ppi but didnt realise there was nothing wrong with this. i was made redundant over 2 yrs ago. i mentioned this to the foc last week and the lady on the phone said that didnt sound right. does this make my case stronger against the bank. thanks laurence

amersall

Hi there, i hope i read you post right.
with ppi on a joint loan the first named borrower is covered for death, accident and unemployment, and the second borrower just for life.You could make the bank aware of the fact you thought you were covered, but if you thought you were, then you would have put a claim in. If you have a good case for mis sell then i dont think adding the fact you were not covered will help much to be honest.Good luck, and i hope you win.

laurence_p

thanks for the reply , they told us we couldnt have the loan without the ppi. so thats our main complaint.

di3004

Hi there, it should have been optional, and the ppi should not have been made to have been accepted for the loan, so you could also bring this up on your complaint as well.

Read this below of Martin's as well in regards of just the first applicant being covered and not the other.

Do you have a joint loan but the insurance is only in one name?
If you’ve checked your paper work and have found that all names responsible for paying back the loan are not covered under the insurance, which is unfair in itself as either could be chased for money if you get behind with payments, and were told or thought that all names were covered, go to the how to reclaim section.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance