was I mis-sold when taking out a mortgage and bank account

Bam74

Posting here as I think i put it in the wrong category and cant work out how to change it  eek)

Ever since the PPI scandal Ive been saying to my husband that we were mis-sold all the insurances we took out at the same time as our mortgage.
It was a LONG time ago in 2001 with Midland bank  ( who became HSBC)and I can really clearly remember the lady that we had the meeting with advising on the critical illness, life insurances etc ( I think we took about 4 different ones out) and I asked ' Do we need to take these out' and she said...'well if you want to be given the mortgage'
It was a 100pct mortgage at the time as we'd been student bankers with them and we didnt have much money as it was our first proper jobs and I was worried about all the payments.
So my question is- is it too late to complain ( I wanted to do it years ago but we are still with HSBC paying off the same mortgage and husband worried it will impact us someway)and do you think this counts as mis-selling?
Any thoughts.  

Bam74

the mortgage PPI was also in the list of things we took out

retiredbanker1

Are the policies still in place?

eskbanker

Bam74 said:

It was a 100pct mortgage at the time as we'd been student bankers with them and we didnt have much money as it was our first proper jobs and I was worried about all the payments.

So some sort of insurance protection would have been desirable and beneficial to you then?

Nasqueron

A mortgage can be sold with a required purchase of insurance e.g. for free advice from a broker or a requirement of the lender - there is nothing wrong here. PPI was considered miss-selling due to it often being implied it was required or that you would get a better deal, despite that not being true.

Regardless, you would be time barred from any complaint - you get 6 years from point of sale and 3 years from when you knew, or crucially, when you could reasonably have known, you had cause for complaint. The rules are legal terms, you can't just say you didn't realise today and start the 3 year rule, many things will trigger that, such as annual statements explaining what you were paying for and how to complain.