Am I eligible for mis sold mortgage compensation?

opinions4u

sarahjane88 wrote: »

There is absolutely no need to be so nasty sandrock.

I don't think the post is intended to be nasty. It's to the point, and possibly not what you want to hear, but I do think that it is reasonably accurate.

I got into that mortgage when I was 18 years old. I was young and foolish, had no idea about markets, followed VERY bad advice, and now paying for it dearly.

Perhaps. Is the lender to blame for that bad advice though? You asked for a mortgage - they gave you a mortgage.

I am trying to get on with my life and make things work, and if that means angling for compensation then I will.

Don't use a claims management company. Complain directly to Halifax if you are going to pursue it.

If, however, your complaint is:

"Your mortgage adviser fiddled with the figures until we got through the credit score, and I then signed the application form ..."

you are making an allegation of fraudulent behaviour against the adviser which could lose them their job, and you are admitting that you were also acting fraudulently by signing the declaration in your haste to gain mortgage funds.

The most likely outcome of any complaint is discipliniary action against the adviser and you being declined any compensation. It is actually possible (although exceptionally unlikely) for the police to investigate you, your friend and the mortgage adviser's actions.

If the lender does decline you, the option of pursuing it via the Ombudsman exists. I would be extremely surprised if this led to a ruling in your favour as you clearly know something "iffy" happened at the time of applying.

In other words, I think you will put yourself through a lot of stress and gain nothing.

I now have a baby and family to think about and this mortgage is shadowing my whole life. It must be wondrous to have gone through you're whole life without making mistakes and needing help!!

One lesson I have learned from life is only to fight battles where I can win, or have a reasonable chance of winning.

Another lesson I have learned is to take on board the statements of others, even if they are delivered bluntly. Blunt and accurate is so much more useful than fluffy sympathy or being told to puruse what you believe is a just course of action even though there is absolutely no chance of it succeeding.

sarahjane88

VIGILANT22 wrote: »

What gives you the right? We ask....
Why should you try and ruin (screw) someone's reputation because you have reduced hours and had a kid?.....I wish we had counter suing in this country and people like you would stop trying it on...

And I am not trying it on. I am not clued up in this area and I was asking what mis sold mortgages entailed. I don't have a great deal of knowledge about mortgages so how the hell am I supposed to know if I got scr*wed over?? Hence I posted in this forum to find out. Plenty of people kindly answered CIVILY and I am happy to know what I do now. I DON'T blame anyone else. YOU ASSUME I DO.

You can think what you like but I didn't ask to be attacked. So, if you were gonna be so unhelpful, you had no reason to post in here but take your diabolical attitude somewhere else.

sarahjane88

opinions4u wrote: »

I don't think the post is intended to be nasty. It's to the point, and possibly not what you want to hear, but I do think that it is reasonably accurate.

Perhaps. Is the lender to blame for that bad advice though? You asked for a mortgage - they gave you a mortgage.

Don't use a claims management company. Complain directly to Halifax if you are going to pursue it.

If, however, your complaint is:

"Your mortgage adviser fiddled with the figures until we got through the credit score, and I then signed the application form ..."

you are making an allegation of fraudulent behaviour against the adviser which could lose them their job, and you are admitting that you were also acting fraudulently by signing the declaration in your haste to gain mortgage funds.

The most likely outcome of any complaint is discipliniary action against the adviser and you being declined any compensation. It is actually possible (although exceptionally unlikely) for the police to investigate you, your friend and the mortgage adviser's actions.

If the lender does decline you, the option of pursuing it via the Ombudsman exists. I would be extremely surprised if this led to a ruling in your favour as you clearly know something "iffy" happened at the time of applying.

In other words, I think you will put yourself through a lot of stress and gain nothing.

One lesson I have learned from life is only to fight battles where I can win, or have a reasonable chance of winning.

Another lesson I have learned is to take on board the statements of others, even if they are delivered bluntly. Blunt and accurate is so much more useful than fluffy sympathy or being told to puruse what you believe is a just course of action even though there is absolutely no chance of it succeeding.

I completely appreciate that and I had my answer from about the first three replies. I just needed to ask, you know? Or I'd never know.

However, you are defending the statements of some people in this thread which are downright insulting and attacking me personally. And I quote "If in the middle of all this, you have dropped a kid then I won't need to say anymore about the kind of person you are." This is what you call blunt?

Pah, I'm not asking for "fluffy sympathy". Considering I'm earning a pitiful wage and half of it is going on the mortage, I'm doing pretty damn well considering what I've got. All I wanted was real solid advice and many others have done so without being judging and insulting.

opinions4u

sarahjane88 wrote: »

I completely appreciate that and I had my answer from about the first three replies. I just needed to ask, you know? Or I'd never know.

I buy this. That's fine. But you suddently got exceptionally defensive and there really was no need.

By the way, hitting the "thanks" button for those posts that gave you what you felt you needed is a traditional response!

However, you are defending the statements of some people in this thread which are downright insulting and attacking me personally. And I quote "If in the middle of all this, you have dropped a kid then I won't need to say anymore about the kind of person you are." This is what you call blunt?

My post clearly referenced a specific posting that you took objection to. If you think I was defending the statement you now refer to then you have chosen to misunderstand what I was saying.

Pah, I'm not asking for "fluffy sympathy".

I didn't say you were. I said that you were getting more useful information from a post you objected to than you ever could from one offering fluffy sympathy.

Considering I'm earning a pitiful wage and half of it is going on the mortage, I'm doing pretty damn well considering what I've got. All I wanted was real solid advice and many others have done so without being judging and insulting.

You over reacted to the Sandrock post I referred to. Let's put your inability to accept that down to your youth.

By the way, I do genuinely hope that your circumstances improve. Being burdened with property and debt that is difficult to afford is not easy.

Trollfever

At present neither of us are living in the flat and are struggling to get by day to day

Sell the flat and take the hit.


.

sarahjane88

By the way, hitting the "thanks" button for those posts that gave you what you felt you needed is a traditional response!

I'm new to the forum, and still getting used to all the features so a little bit of understanding on this would be nice. But I certainly will do so now that you have pointed this out.

My post clearly referenced a specific posting that you took objection to. If you think I was defending the statement you now refer to then you have chosen to misunderstand what I was saying.

Well, I wrongly assumed you were defending everybody, not just Sandrock.

You over reacted to the Sandrock post I referred to. Let's put your inability to accept that down to your youth.

And to comment on Sandrock's reply, there was still an element of judgement in his post. Things can still be said more objectively. People do not post on here to be judged by others and there are different ways of getting an opinion across.

To demonstrate I will use a completely made up example - let's say that there is a recommendation against painting your door green, but that painting your door purple is just about acceptable:

1 - I don't personally think green is a good colour for a door and would recommend purple. What does your decorator say?
2 - You know it really isn't recommended to paint your door green. I think most people go for purple. You really should stop with the green paint asap!
3 - Oh my god! You paint your door GREEN??!!!! I can't believe you would do that! It is stupid and tasteless!

Statement 1 - entirely non-offensive but getting the disagreement across.
Statement 2 - perhaps a little challenging, but still polite and expressing a valid view.
Statement 3 - likely to cause offence.

So lets not "put it down to my inability to accept" because of my youth. By the way, thats ageism. I'm not immature.

By the way, I do genuinely hope that your circumstances improve. Being burdened with property and debt that is difficult to afford is not easy.

I do appreciate that, really I do.

Lance

You bought at a time when house prices were rocketing in price and so took the risk and so did the bank because house prices only ever go up and everyone wanted to cash in. If the HPI had continued your flat would be worth 30% or more than it does now and you could wait for further profits or cash in and take the cash. If you had been refused a mortgage would you have complained and if still refused gone elsewhere until you got the money, perhaps even self-cert (liar loan) ?

Also in post above you mention 'ageism'........ yet part of your complaint is you were 'only 18' as if that makes you not as responsible as someone older... isn't that ageism? You also suggest the bank should have refused your mortgage application because of your age....... would that have been ageism? Would you have complained about their ageism? It would appear that like the various other 'isms' it only works one way.

You both moved out of the flat which can't have helped and left it vacant. Instead of looking for work you then decided to start a family elsewhere.

I do not wish to be judgemental I am merely stating facts in the face of your claims of being mis sold, ageism etc and too be blunt refusing to face responsabilty or your actions. You bought at the wrong time like millions of others around the world.

Dan_1976

As ever in this place, people judging getting defencive and the subject gets lost in petty spats! Can we stop being so bloody clever when we reply. The op's never seem to want a fluffy perfect answer but a lot of people in here seem to think they are above everybody else and so bloody clever!

OP: You need to get your head together with your friend and sort this out. You are both liable, jointly so you both need to be involved.

See your/a broker and see if they can help. If not you have to be honest with the lender and say either you help or we hand in the keys.

Repo will leave you both jointly liable, the only way out would be bankruptcy and that could cause even more problems.

Renting could be good, but you need money to keep up the property and if you have no tenant.

Good luck

WTTM

What lovely replies Sarah, just seeing them the now as been working all day

Learn from your mistakes and move on and don't repeat them in the future, these include....

Borrowing what you can't afford to pay back.

Dropping a kid at great expense when you can't even afford your mortgage.

Blaming others for your own actions.



MOMENT

Dan_1976

"Dropping a kid" What a nice way to talk about it!

Child birth would be grate if you could plan, but if you did plan it to fit in with your finances you would not have children!

MMA

(Moment my ar!e)