Declined 😞

Mr_Mower

I have just been told by Hsbc that my claim has been declined as I received a brochure and literature explaining all about my PPI at the time in 1998,I know I had it and told them that but felt I was mis sold as I was told I HAD to take it out,it was my first house and I just assumed what they told me was correct,is it worth trying the ombudsman?

dunstonh

t,it was my first house and I just assumed what they told me was correct,is it worth trying the ombudsman?

You can try the FOS if you disagree. However, MPPI has the lowest success rate of any type of PPI. Indeed, it is only one of two types of PPI that you can still buy today.

The FOS reject most MPPI complaints. Yours maybe one that gets overturned but you havent told us your complaint reasons or the rejection reasons specific to your complaint reasons. So, its hard for us to comment beyond that.

Mr_Mower

Thanks for the reply,I took out my first and only mortgage in 1998,at the time the lady said I had to have an insurance to cover sickness/accident etc or my house could be repossessed, I wasn't happy at the time but if I have to have it I suppose I have to have it,5 years ago I wrote to Hsbc to say I believe I was mis sold the PPI, they said they didn't need to keep records after 6 years and that was that, this year they wrote apologising saying I had had PPI but they missed it and gave me the details/policy number etc,I put in the claim but was declined as they said I was given brochures and literature explaining what PPI is and they are only allowed to sell their own PPI,they said plain doesn't apply to me and that's that (I do still bank with them too)

dunstonh

I took out my first and only mortgage in 1998,at the time the lady said I had to have an insurance to cover sickness/accident etc or my house could be repossessed,

Nothing wrong with that statement. So, no wrongdoing there.
They are required to make you aware of the consequences and ways to avoid it.

and they are only allowed to sell their own PPI

That is a strange response unless you made you used the "not told about others" (or similar worded) complaint reason. If you did then that is not a valid complaint reason. Its a myth taken out of context.

they said plain doesn't apply to me and that's that

If the mortgage ended with them before 2008 or was arranged under MCOB rather than the CCA then plevin will not apply.