Help?

77ems

Hi all, my husband took out a mortgage with hsbc in 1995, he was told at the time of getting this mortgage that the repayment protection insurance on this mortgage was compulsory and without it, it would not be approved. In 2005 he found himself unemployed and was told that this insurance would not cover him. We ended up getting into arrears with the mortgage and were forced to sell before the property was repossessed. We have been in rented accommodation since. Would we be able to claim back?

Many thanks in advance.

Hi, this was the post I posted in the forum, and I got redirected here. I would be grateful for any advice. Thanks

di3004

Dunstonh, MagpieCottage or anyone that can help on this one please, cheers guys.;)

roonaldo

Why would it not cover him in 2005? if it had unemployment cover, then he should have been covered, as so far this sounds like a claim issue.

dunstonh

he was told at the time of getting this mortgage that the repayment protection insurance on this mortgage was compulsory and without it, it would not be approved.

Which was quite possible and quite acceptable. It was normal in the 90s for insurance to be compulsory. That required didnt drop off until the early 2000s. Even then, some still required it to buy certain deals (And that is allowed).

In 2005 he found himself unemployed and was told that this insurance would not cover him.

what reason was given? This is the key thing. Forget any verbal accusation of being forced to have it over 15 years ago. You wont win that argument as you have no proof to back up your accusation. The only bit that may have legs is the reason why the claim was rejected.

Also, did he change job between 1995 and 2005?