Mortgage Contract

tightasaducksbackside

Can somebody please explain what officially makes a mortgage contract legally binding?

VIGILANT22

This is an "odd" question, can you not phrase what exactly the problem is.

You would have been issued a KFI which should state what your mortgage is...

SimbaSimon

tightasaducksbackside wrote: »

Can somebody please explain what officially makes a mortgage contract legally binding?

The key word is 'contract'

http://en.wikipedia.org/wiki/Contract

What are you trying to get out of?

Cannon_Fodder

You signed it...?

tightasaducksbackside

Thank you Cannon Fodder, that is exactly what we thought.
Have a problem with our mortgage lender at present, they have presented to us a copy of the mortgage agreement that we supposedly agreed to some time ago. Paperwork that we can honestly state have never seen before and does not bare any signatures. I enphasise that we are not trying to get out of anything but refuse to let them walk all over us.

JA1000

Do a SAR for £10 and see what delights it brings.

dunstonh

Paperwork that we can honestly state have never seen before and does not bare any signatures.

Does it matter? The recent court cases ruled that the lender does not need to supply a copy of the original but instead provide you with the terms that applied.

I enphasise that we are not trying to get out of anything but refuse to let them walk all over us.

So, how do you get past the signatures on the applications, solicitor forms and all the other documentation laying out the terms.

tightasaducksbackside

Applications were made via The Self Build Advisory Service (Broker) who acted on our behalf. This is a discounted related issue which does not conform to any paperwork we were given at the time. We have spoken to TSBAS (Build Store) who are not aware of any discounted rates offered at that particular time 10 yrs ago and have also tried to contact our solicitor to obtain our file only to find he has been disbarred.

dunstonh

Normally, the contract is sent to you directly from the lender and not via the broker. Although a copy is often sent to the broker.

In the past it was common for you to give the contract to the solicitor and you would sign it in front of them after the solicitor had gone through terms. That isnt very common nowdays but may have been the case back then.

kai666

tightasaducksbackside wrote: »

I enphasise that we are not trying to get out of anything but refuse to let them walk all over us.

What are they doing to walk all over you?

tightasaducksbackside

Thanks for that, the contract was definately not forwarded to ourselves otherwise we would have had a copy on file. The Build Store - we are awaiting their response and presently are trying to retrieve our Solicitors files from the archives. The information we received from the broker when the mortgage was first initiated states..."During the build interest is charged at SVR currently (6.85%) and then on completion of your property you have the option of taking one of their competitive product rates"..... We beleive that we are on a SVR repayment mortgage and not as the lender is stating a discounted rate. Since we completed the build we have been offered two discounted options by the lender, none of which were acted upon.