PPI Reclaiming successes and failures

goonlord

I'm not sure if this is the right place to post but following Martin's campaign I tried to reclaim on two policies that I was mis-sold (in my opinion) when I took out my mortgage with HSBC. 1 was for level term cover and 1 was for PPI.

I told the guy arranging the mortgage that i did not want either policy (being single with no dependents and having family support should anything go wrong job-wise or health-wise etc.) but he knew I was desperate to get a mortgage arranged as another lender had messed up my offer and my flat purchase was about to fall through (I used to work with him so I know that he would do anything for a sale)...

Anyway, he made it perfectly clear that without taking out these policies my mortgage would not be arranged quickly. I was young, naive and very stressed at this point and felt I had no option.

Found out yesterday that my claim for the level term assurance has not been upheld since it is my word against his (even though another HSBC advisor has since told me that level term assurance is not appropriate for a single person with a repayment mortgage). Awaiting the outcome of the other but I'm not hopeful to be honest.

I feel totally gutted as I have always felt I was ripped off and had no power against a massive bank.

Not sure what to do now so any advice would be really welcome!

fairmorn308

i have sent my 1st letter off to welcome finance regarding getting PPi back.

Fingers crossed will hear from them soon enough

catinthehat1

goonlord wrote: »

I'm not sure if this is the right place to post but following Martin's campaign I tried to reclaim on two policies that I was mis-sold (in my opinion) when I took out my mortgage with HSBC. 1 was for level term cover and 1 was for PPI.

I told the guy arranging the mortgage that i did not want either policy (being single with no dependents and having family support should anything go wrong job-wise or health-wise etc.) but he knew I was desperate to get a mortgage arranged as another lender had messed up my offer and my flat purchase was about to fall through (I used to work with him so I know that he would do anything for a sale)...

Anyway, he made it perfectly clear that without taking out these policies my mortgage would not be arranged quickly. I was young, naive and very stressed at this point and felt I had no option.

Found out yesterday that my claim for the level term assurance has not been upheld since it is my word against his (even though another HSBC advisor has since told me that level term assurance is not appropriate for a single person with a repayment mortgage). Awaiting the outcome of the other but I'm not hopeful to be honest.

I feel totally gutted as I have always felt I was ripped off and had no power against a massive bank.

Not sure what to do now so any advice would be really welcome!

Can you put your post on the 'PPI discussion board' I'm sure there are people there who are REALLY helpful, they might be able to help you take it further:o

goonlord

Thanks catinthehat1 - will do!

Bluemoon

I have sent a letter to First Plus about mis-selling of insurance that went with loan i have told them i was never told it only lasts for 5 years. they have said i will have a reply by the 18th sept i will let you know what happens. Has any one been succsessfull with First plus?

dazman20032003

Hi everyone just a quick one i have recieved a letter back from tsb to say they have recieved my complaint and that they will look into it and will hopefully have a full response to it within the next 8 weeks , can anyone tell me if this is standard procedure and just wait the 8 weeks or do i do something else ?

pchads

What were you reclaiming: loanprotect gold premiums

Who was the provider: Northern rock

How much did you get back: £389.36 + £55.08 stat' interest

Did you get it back after a letter or did you go to the Financial Ombudsman:
one letter

took out the loan in 2005 and repaid early in 2007, sent a single letter (martins template) politely asking for the premiums that i had paid back. at the time the sales person on the telephone told me that i had to have the protection or i would not get the loan or the interest rate! sent one letter and got a first reply in 1 week acknowledging my complaint and then another 4 weeks later...it said ' i agree, on this occasion you were mis-sold the insurance and we have failed to deliver the high standard of service you have a right to expect...'

moo_cow

hi dazman, this is standard. I had the same thing. they came back with a big fat no so had to write again for final response. this also came back as no so have sent complaint to FOS. On the brightside though, lloyds were very very quick to say no so at least I was able to get to the FOS without delay. have now had a response from them and am basically just waiting. good luck with yours and hopefully they'll refund you without hassle.

di3004

dazman20032003 wrote: »

Hi everyone just a quick one i have recieved a letter back from tsb to say they have recieved my complaint and that they will look into it and will hopefully have a full response to it within the next 8 weeks , can anyone tell me if this is standard procedure and just wait the 8 weeks or do i do something else ?

Hi dazman

Yes this is standard procedure, and I hope you have some success with these hunni.;)

I have some complaints about Lloyds PPI in with the FOS at present, so if you get a letter frrom Lloyds which states:

You may have been eligible for life cover, job solutions, hospitalisation etc, this is also a standard response, please don't let that put you off, keep at them until they send you your final response.
I was a homemaker and mine was added automatically !

Do you think you could actually post this or furture posts over at the reclaiming discussion thread hunni, there we guide you your next step.;)
Hope you don't mind me saying, as much helpful all these forums are.;)

All the best, keep us posted, cheers.:D
Di.
x

catinthehat1

Bluemoon wrote: »

I have sent a letter to First Plus about mis-selling of insurance that went with loan i have told them i was never told it only lasts for 5 years. they have said i will have a reply by the 18th sept i will let you know what happens. Has any one been succsessfull with First plus?

Hi Bluemoon - could you put your above on the discussion board as there are a few of us trying to reclaim from FP and it would be good to share the experience!!!:o