Where do I stand with this ?
05 July 2007, 06:05 PM
#1
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Where do I stand with this ?
I had a mortgage with HSBC which was canceled in April 05 (moved house and moved to Halifax)
I had payment protection on the repayments through HSBC - £14.85 per month.
Call me stupid, but every month since April 05 £14.85 has been taken out of my account, despite closing the mortgage account. I thought it was part of my life insurance but today I checked & no.
So, in one camp, my fault for not canceling it or seeing it sooner.
In another camp their fault for not canceling it when my mortgage was settled and moved to the Halifax.
Where do you think I stand on trying to claim back £14.85 x 26 odd months ?
My move to Halifax mortgage was handled by an IFA.
I had payment protection on the repayments through HSBC - £14.85 per month.
Call me stupid, but every month since April 05 £14.85 has been taken out of my account, despite closing the mortgage account. I thought it was part of my life insurance but today I checked & no.
So, in one camp, my fault for not canceling it or seeing it sooner.
In another camp their fault for not canceling it when my mortgage was settled and moved to the Halifax.
Where do you think I stand on trying to claim back £14.85 x 26 odd months ?
My move to Halifax mortgage was handled by an IFA.
05 July 2007, 06:30 PM
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Right, the premium was for mortgage protection. You no longer had a mortgage with the HSBC so no longer should have been paying the premium.
Your IFA should have informed you about the premium and cancelling it, but then again you should have known anyway.
The bank continued to take out money from a direct debit that you had set up and not cancelled. So they aren't really at fault for their actions as one department wouldn't have a clue what the next is doing.
The fact HSBC received the payments for technically nothing does help your case and shouldn't be diffiicult to get back though.
A phone call explaining the situation should be all it takes for a full refund no matter who's at fault.
Your IFA should have informed you about the premium and cancelling it, but then again you should have known anyway.
The bank continued to take out money from a direct debit that you had set up and not cancelled. So they aren't really at fault for their actions as one department wouldn't have a clue what the next is doing.
The fact HSBC received the payments for technically nothing does help your case and shouldn't be diffiicult to get back though.
A phone call explaining the situation should be all it takes for a full refund no matter who's at fault.
05 July 2007, 06:33 PM
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Mortgage protection is an insurance premium, a mortgage is a mortgage.
They were taking payments for an insurance premium that you did not cancel.
I am sure you will get a refund.
They were taking payments for an insurance premium that you did not cancel.
I am sure you will get a refund.
05 July 2007, 06:53 PM
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I am still paying my previous mortgage company redundancy protection and it covers my new mortgage, so you HAVE been covered during that time.
I'd still give it a go with the refund though!
Steve
I'd still give it a go with the refund though!
Steve
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