Voildable Mortgage Paid Up ?

eclipse99

Hi There,

I'm new to this forum so I hope I am doing this right.

I had a Mortgage with West Brom B.S. taken out in 1996. I paid it off in 2001 when I took out a new mortgage. Having read various posts I am sure it is 'Voidable' Firstly, I am pretty sure a secret commision was paid. I did it through a broker and there is no mention of any commision in the paperwork, of which I have keep everything. Secondly, It was a condition of the mortgage offer that I had payment protection insurance. It was added to the mortgage as a lump sum in advance to begin with and then monthly. I protested at having to pay it and after a year or so they stopped it.

Does anyone think I may have a case for a claim and how would I go about it?

Thanks. eclipse99

Tiddler_2

I don't know about your mortgage being "voidable", but it was taken out before mortgages were regulated.

Voluntary Regulation of Mortgages under the Mortgage Code came into force in July 1997 - at that time brokers only had to advise a customer of the amount of the commission payment if it was over £250. If it was less than £250, then you would just be told that it is "under £250".

Prior to the regulation of mortgages by the FSA in Oct 2004, lenders often had deals which you could only obtain by taking out certain insurances.

In terms of complaining - it may be worth writing to West Brom - what have you got to lose?