Intelligent Finance - KFI (Key Facts Illustration)

obriens

Hi there,

I have my mortgage with Intelligent Finance and am disgusted to learn that they will no longer allow me to port my mortgage to another property. I feel this is another case where the banks are walking away from their commitments because it is not in their interest to carry on.

I would like to review whether I have grounds to put a complaint into the FSA/Ombusman but cannot locate the Key Facts Illustration (KFI) that came with my mortgage.

I took out a tracker mortgage with IF in March of 2001, does anyone have a copy of the KFI that I could review.

Thanks and fingers crossed

Thrugelmir

obriens wrote: »

Hi there,

I have my mortgage with Intelligent Finance and am disgusted to learn that they will no longer allow me to port my mortgage to another property. I feel this is another case where the banks are walking away from their commitments because it is not in their interest to carry on.

I would like to review whether I have grounds to put a complaint into the FSA/Ombusman but cannot locate the Key Facts Illustration (KFI) that came with my mortgage.

I took out a tracker mortgage with IF in March of 2001, does anyone have a copy of the KFI that I could review.

Thanks and fingers crossed

Read the terms of your mortgage contract not the KFI.

Unfortunately as disgusted as you are, you have no grounds for complaint to higher authorities.

opinions4u

obriens wrote: »

I have my mortgage with Intelligent Finance and am disgusted to learn that they will no longer allow me to port my mortgage to another property. I feel this is another case where the banks are walking away from their commitments because it is not in their interest to carry on.

Their commitment was to port your mortgage to a new property if you met their underwriting criteria.

If they aren't lending, you can't meet those criteria, therefore you cannot port. A portable mortgage has never been a guarantee of lending against a new property.

Their web site states that you have a period of time in which you can still port:

"What happens if I am planning to move home, can I take my Intelligent Finance mortgage with me?
Yes. You can take your Intelligent Finance mortgage with you if you apply before 8pm on the 1st April 2010 provided your loan amount is less or stays the same."

I would like to review whether I have grounds to put a complaint into the FSA/Ombusman but cannot locate the Key Facts Illustration (KFI) that came with my mortgage.

You have no grounds. They are not committed to lend to somebody that they don't want to lend to. At this point in time that covers the whole population of the planet (with the significant exception of some of those wish to port before 1st April 2010).