Mortgage fiasco - what are my rights?

Rooster199

Hi there, just wondering what I can do about the following situation:

In August last year I decided to buy the last 25% share of the the flat I was renting. I looked at the mortgage best buy table and Alliiance and Leicester topped the list so off i scampered to my local A&L branch to get the mortgage.

Big mistake.

A&L have just been taken over by Santander. The mortgage arranger basically didn't have a clue what she was doing with the new systems. She had been trained but she was basically an incompetent person anyway. After an incredible amount of trouble, mistakes, back-tracking and confusion we agreed the mortgage and she gave me a list of solicitors from which I must choose to do the legal side, I was not allowed to use my own.

The short version is that it has taken SIX MONTHS to sort out this mortgage. During that time I have incurred expenses (I had to get three independent valuations as each was only valid for three months), sufferd a lot of stress which has affected my health and my work and now she tells me the mortgage offer has been withdrawn as this has been going on so long. She has now given me the choice of signing up to a more expensive mortgage product or walking away and wasting about £700 in solicitor's and valuation fees. This seems to me to be quite close to extortion. I have raised a complaint but I have to complete soon or lose my money (and six months of time). It's only luck that the price of the property hasn't risen in that time. What are my rights? I have done nothing wrong, the incredible length of time taken is purely down to Alliance and Leicester incompetence and their solicitors. The mortgage arranger basically can't arrange mortgages, she has done practically everything wrong and I dread speaking to her because every time I do it's more bad news and more apologies.

WTTM

Rooster199 wrote: »

Hi there, just wondering what I can do about the following situation:

In August last year I decided to buy the last 25% share of the the flat I was renting. I looked at the mortgage best buy table and Alliiance and Leicester topped the list so off i scampered to my local A&L branch to get the mortgage.

Big mistake.

A&L have just been taken over by Santander. The mortgage arranger basically didn't have a clue what she was doing with the new systems. She had been trained but she was basically an incompetent person anyway. After an incredible amount of trouble, mistakes, back-tracking and confusion we agreed the mortgage and she gave me a list of solicitors from which I must choose to do the legal side, I was not allowed to use my own.

The short version is that it has taken SIX MONTHS to sort out this mortgage. During that time I have incurred expenses (I had to get three independent valuations as each was only valid for three months), sufferd a lot of stress which has affected my health and my work and now she tells me the mortgage offer has been withdrawn as this has been going on so long. She has now given me the choice of signing up to a more expensive mortgage product or walking away and wasting about £700 in solicitor's and valuation fees. This seems to me to be quite close to extortion. I have raised a complaint but I have to complete soon or lose my money (and six months of time). It's only luck that the price of the property hasn't risen in that time. What are my rights? I have done nothing wrong, the incredible length of time taken is purely down to Alliance and Leicester incompetence and their solicitors. The mortgage arranger basically can't arrange mortgages, she has done practically everything wrong and I dread speaking to her because every time I do it's more bad news and more apologies.

Just get over it and move on. No point getting stressed out really.

Speak to the wife and see what she can do to help. After that, get the dinners sorted out and all should be a lot better.

Remember to always look on the bright side so don't ignore the rainbows.


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