PPI FAQs discussion thread

LondonCouple

1999 - 2001 HSBC

Hi,

I wanted an overdraft with HSBC but the small business advisor insisted he could only give me commercial cards. These were then transferred at the banks request to a personal loan with PPI included. Remember being horrified when the small business advisor did this against my wishes. I don't have any paperwork but do remember the small business advisors name, the branch and obviously my details.

Is there any way I can make a claim? I always felt so cheated when they did this and essentially left HSBC soon after as a result. Would love to get back what was owed to me.

Any advice?

Thanks

[Deleted User]

I'm certain you could complain about the PPI, but what other losses did you actually incur?

I doubt a personal loan would be more expensive than a credit card or ongoing overdraft...

You don't need to name any individual in your complaint, you only have a "hearsay" accusation against him regardless.

Just give them your account details and the reasons you want to complain. HSBC has eight weeks to respond to your concerns.

jowesch1

Hi, I'm contacting you on behalf of a family member who took out a credit agreement for Motor Financing with First National Motor Finance. I believe that there is PPI associated to this based upon the interest rate charged, however First National Finance is no longer in business.


Do you have the name of the Bank that took them over and are they still liable for this claim?


Thank you for your help.

dunstonh

jowesch1 wrote: »

Hi, I'm contacting you on behalf of a family member who took out a credit agreement for Motor Financing with First National Motor Finance. I believe that there is PPI associated to this based upon the interest rate charged, however First National Finance is no longer in business.


Do you have the name of the Bank that took them over and are they still liable for this claim?


Thank you for your help.

The seller of the loan has the liability for the sale. So, the complaint would go to the car dealer.

jowesch1

Thank you. Would I send the standard form which I can download from this website to them?

curl_girl

I took out a mortgage in 1992 with the Halifax and was made to take MPPI, being told it was compulsory?
Initially it was with Standard Life, later being transferred to St Andrews?
Is this the type of insurance that people like me were being miss sold. I keep hearing about claiming money back and wondered if I qualified?
Advice would be most welcome please, tia.

dunstonh

curl_girl wrote: »

I took out a mortgage in 1992 with the Halifax and was made to take MPPI, being told it was compulsory?
Initially it was with Standard Life, later being transferred to St Andrews?
Is this the type of insurance that people like me were being miss sold. I keep hearing about claiming money back and wondered if I qualified?
Advice would be most welcome please, tia.

Probably life assurance with the Std Live involvement.

Why do you think you were mis-sold? (statistically, most mortgage insurance isnt)

curl_girl

dunstonh wrote: »

Probably life assurance with the Std Live involvement.

Why do you think you were mis-sold? (statistically, most mortgage insurance isnt)

Thanks for your reply.

We were not given the option to choose the insurer ourselves, were made to take their only option, SL.

Then again in1998 when we moved house, were told it was compulsory, is it? Again had to take MPPI with them, plus less than 3 months into the policy, I was made redundant and remained unemployed throughout the term of the policy, continuing to pay the monthly premiums.

Any advice appreciated, thanks.

[Deleted User]

curl_girl wrote: »

We were not given the option to choose the insurer ourselves, were made to take their only option, SL.

This is not a valid mis-selling reason. They would only ever recommend their own insurance. I doubt very highly you would have been prevented from using an alternative insurance had you persisted.

curl_girl wrote: »

Then again in1998 when we moved house, were told it was compulsory, is it?

Very likely WAS compulsory back then.

Do you know what this insurance actually covered? If it was indeed life assurance bering made redundant was, of course, not covered.

dunstonh

We were not given the option to choose the insurer ourselves, were made to take their only option, SL.

That is not a mis-sale reason.

Then again in1998 when we moved house, were told it was compulsory, is it?

life assurance was compulsory with many lenders until the mid to late 90s with a few going into the early 2000s. Life assurance is not PPI.

If you have evidence showing that you were told it was compulsory when it was not then you have a strong complaint. Without evidence it is very weak.

Again had to take MPPI with them, plus less than 3 months into the policy, I was made redundant and remained unemployed throughout the term of the policy, continuing to pay the monthly premiums.

Did you have MPPI? Did it cover you or your partner or a combination?