Belmont Thornton Logo

HSBC mis sold PPI

It has been very difficult to avoid news regarding the payment protection insurance scandal in recent years. There have been several high profile investigations, thousands of customer complaints and, most recently, a High Court review.

The High Court review was requested by the British Banking Association (BBA) and came in response to the announcement of new Financial Service Authority (FSA) guidelines regarding the sale of the cover. The new guidelines were designed to offer customers heightened protection from the threat of mis-sale and to prevent a repeat of the mis-selling scandal. The BBA objected to the new guidelines as they felt they would force banks to apply new standards to old sales and potentially cost lenders millions. The FSA rejected this idea, though, and stated the guidelines were a clarification of existing rules only. While the judicial review was pending, HSBC mis sold PPI claims and claims against several other major lenders were placed on hold.

In May 2011, the High Court returned its verdict finding in favour of the FSA. After the decision was a revealed, several key UK lenders announced they would allocate funds to deal with the payment protection claim issue. HSBC was one of these lenders announcing it would allocate £269 million to investigate PPI claims and pay compensation as necessary.

If you are unsure whether you have HSBC mis sold PPI and whether you could be able to make a claim you should consider how your policy was sold to you. Were you given full information? Did any of the information later prove to be incorrect? Did you feel under undue pressure to take out a policy or were you told it would improve your chances of being given credit? Were you sold a policy that later proved to be unsuitable for your needs or that you were ineligible to use?

To find out more, call 0207 471 2000.


Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B16, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide