PPI FAQs discussion thread

May_2015

Hi I work for a bank and was informed by a visiting financial advisor that PPI should always be part of a loan especially for staff as it could affect our jobs if we were unable to pay due to sickness ect, therefore I applied for a loan on the website and PPI and have been advised I am unable to claim for missold PPI as I applied for it myself so it was my choice?:(

dunstonh

May_2015 wrote: »

Hi I work for a bank and was informed by a visiting financial advisor that PPI should always be part of a loan especially for staff as it could affect our jobs if we were unable to pay due to sickness ect, therefore I applied for a loan on the website and PPI and have been advised I am unable to claim for missold PPI as I applied for it myself so it was my choice?:(

Correct. Financial advice is documented and recorded. By not using the adviser, the advice basically never happened (no record of it). Going DIY doesnt prevent you from complaining but you get a lower level of consumer protection. You cant complain you were told something and there is a lower level of disclosure. it is still possible to succeed in a complaint but you need a better reason of complaint than an unprovable allegation against a third party that was never documented. Effectively you would be relying on a failure on the internet site (rare but possible).

optimus622

Hi all, i have been pursuing PPI claims since oct 2014 with varying success, however i have hit a brick wall. The problem ive got is i have written to Beneficial Bank and they have not replied and i know HFC own part so i have written to them and still no reply, i also read that HSBC had taken on Beneficial, but again no reply. I cant seem to find any real answers, i have used the addresses from the forums but again no reply's, so the question is what to do next? do i complain to the ombudsman? or is there any other addresses or telephone numbers i should try?

(i do like to use letters as they seem to get a more positive response than getting fobbed off on the phone)

Regards

Nasqueron

optimus622 wrote: »

Hi all, i have been pursuing PPI claims since oct 2014 with varying success, however i have hit a brick wall. The problem ive got is i have written to Beneficial Bank and they have not replied and i know HFC own part so i have written to them and still no reply, i also read that HSBC had taken on Beneficial, but again no reply. I cant seem to find any real answers, i have used the addresses from the forums but again no reply's, so the question is what to do next? do i complain to the ombudsman? or is there any other addresses or telephone numbers i should try?

(i do like to use letters as they seem to get a more positive response than getting fobbed off on the phone)

Regards

You can't go to the FOS unless the firm has rejected your complaint or they accepted it but did not respond within 8 weeks.

What exactly did you ask the banks? Just if you had PPI or trying to find out the accounts?

Beneficial Bank gets routed to HFC as per the below but they refer onto HSBC:

http://www.hfcbank.co.uk/html/payment_insurance.html

Ring HFC first and see if they have any details of you and you can then initiate a complaint and get a reference and then send in your complaint by post - try 0345 6023793

Do you have any records of your own left?

Kawasakikat

I've read the PPI claims section. Does any one know if the claim will apply to the Devolper who when I purchased my property in 1999 I was told that I could not take out a mortgage with a certain bank who they had a promontional deal with if I did not take out the banks insurance. As I was naive about mortgages I took the insurance as well as the mortgage. Would a PPI claim still apply to my situation?

Nasqueron

Kawasakikat wrote: »

I've read the PPI claims section. Does any one know if the claim will apply to the Devolper who when I purchased my property in 1999 I was told that I could not take out a mortgage with a certain bank who they had a promontional deal with if I did not take out the banks insurance. As I was naive about mortgages I took the insurance as well as the mortgage. Would a PPI claim still apply to my situation?

You'd do better making a new post on this listing:

The mortgage provider
The developer
How you bought your mortgage etc

Too little info in the above to tell you one way or another

Insider101

Kawasakikat wrote: »

I've read the PPI claims section. Does any one know if the claim will apply to the Devolper who when I purchased my property in 1999 I was told that I could not take out a mortgage with a certain bank who they had a promontional deal with if I did not take out the banks insurance. As I was naive about mortgages I took the insurance as well as the mortgage. Would a PPI claim still apply to my situation?

They might have been right. At that point, the bank might have insisted the mortgage was covered by insurance. Or, more likely, they may have had a deal where you get a preferential rate on the mortgage if you also take out insurance through the bank. That was allowed.

dunstonh

I've read the PPI claims section. Does any one know if the claim will apply to the Devolper who when I purchased my property in 1999 I was told that I could not take out a mortgage with a certain bank who they had a promontional deal with if I did not take out the banks insurance

Many lenders had promotional deals in the 90s that required a cross subsidy insurance purchase. That model is allowed and is not a mis-sale reason.

As I was naive about mortgages I took the insurance as well as the mortgage. Would a PPI claim still apply to my situation?

Based on what you have said, no you do not have a complaint if the reason is correct. However, the insurance sold has to be suitable still.

paulsyorks

A company dealing with the claims said that my claim where the policy started around 1998 is too old because there was no legislation at that time.
Is that correct?

amersall

They are correct, up to a point, do you have any paperwork for this? when was it paid off and what was it, a CC or a loan?.