Did HSBC mortgages have PPI?

HSBC (previously Midland Bank) stopped selling Payment Protection Insurance in its branches in December 2007 and throughout the rest of its business during 2008. Prior to that time, 5 main products had been sold: Personal Loan Protection Plan.

How far back can I claim PPI on a mortgage?

six years
Yet while you can go back as far as you like with normal PPI reclaiming, there is a statute of limitations of six years for court cases – in other words after that time you can’t claim.

Can I claim PPI from 30 years ago?

Although you can submit a PPI claim from any year, if you received a letter in the past few years from your bank about mis-sold PPI policies but did not respond, you might be time-barred. From the date of this letter, you have three years to reply to the bank.

Do loans still have PPI?

PPI can be taken out against almost any type of loan, but it’s usually bought to ensure credit card or mortgage repayments can continue. In some cases, people were mis-sold PPI and have tried to get a PPI refund.

What is the lowest PPI payout?

What’s the lowest payout we’ve seen? Back in March, we reported on a MoneySaver who received a cheque worth 34p for mis-sold PPI. This was the smallest reclaim we’d seen, though a Google search throws up a 2015 article in which a journalist writes about being paid just 3p.

Can I claim PPI from 20 years ago with no paperwork?

Yes, you can claim from 20 years ago. However, you might find it to be more difficult unless you have the old financial paperwork with evidence of the PPI policy. However, it’s not impossible. Older cases can often be more complex and a claim might take longer.

Can I claim PPI on mortgage 20 years ago?

What is the average PPI payout?

The amount you receive for a successful PPI claim will depend on the amount you’ve paid for the policy and the circumstances of your complaint. The average payment is around £1,700, but it can be much less for some people or much more for others.

How far back does PPI check go?

How Far Back Can I Claim PPI? An important figure to remember is six years. All financial institutions are required to keep documentation of their accounts for six years. So, if the bank does not have documentation of your account within this period, they are not meeting regulatory standards.

What did HSBC say about no PPI loans?

I am at my wits’ end trying to reclaim payment protection insurance (PPI) from HSBC. Initially, the bank wrote to say that none of my loans had PPI attached, but later confirmed that all three of my loans had PPI. On May 3, 2015, I completed a form to reclaim the money, but have had no reply.

When did HSBC stop selling payment protection insurance?

Payment Protection Insurance (PPI) is designed to cover the monthly repayments of your loan or credit card, if you are made unemployed, have an accident, become sick or die. HSBC (previously Midland Bank) stopped selling Payment Protection Insurance in its branches in December 2007 and throughout the rest of its business during 2008.

What’s the interest rate on an HSBC personal loan?

Credit card Monthly Payment and Interest Paid are based on equal payments for 3 years. For example, a $20,000 HSBC Personal Loan with a 3-year term and a 6.99% APR has a required monthly payment of $620, assuming on-time payments. The APR on your HSBC Personal Loan could be higher based on your credit history.

Are there any other banks that sell PPI?

Within the HSBC Group, PPI was also sold by M&S Bank, first direct, HFC Bank and John Lewis Financial Services. If you think you may have been sold PPI by one of these companies, visit their PPI page or see the HFC Bank Limited sections below;