Diamond Lifestyle mis-selling mortgages ?

Konamb212

Has anyone heard of diamond Lifestyle mis-selling mortgages ?

I had a call just now from a local company, basically telling me that Diamond had acted inappropriately in selling me my mortgage.
Basically I bought my council house through Diamond, using Prefferred mortgages, then after the fixed term moved on to igroup, also through Diamond. He was able to tell me this.
The chap I was talking to has arranged to come see me tomorrow, and didnt want to know too much detail, but has basically said that I may have "two claims" against Diamond/FSA for mis-selling of the mortgages.

I'm aware this could be some sort of scam to get me to re-mortgage through this company, but was just checking if anyone else had heard of this before.
I know Diamond are now defunct

ILW

He will prbably tell you that if you give him £500 he will get your mortgage written off. Keep us posted.

Wutang_2

Konamb212 wrote: »

Has anyone heard of diamond Lifestyle mis-selling mortgages ?

I had a call just now from a local company, basically telling me that Diamond had acted inappropriately in selling me my mortgage.
Basically I bought my council house through Diamond, using Prefferred mortgages, then after the fixed term moved on to igroup, also through Diamond. He was able to tell me this.
The chap I was talking to has arranged to come see me tomorrow, and didnt want to know too much detail, but has basically said that I may have "two claims" against Diamond/FSA for mis-selling of the mortgages.

I'm aware this could be some sort of scam to get me to re-mortgage through this company, but was just checking if anyone else had heard of this before.
I know Diamond are now defunct

If you had any bad credit and wanted shared ownership then Preferred would have been your only real option!

Who are the company and why are you letting these unknown cold-callers round to your house without knowing what they want?

Konamb212

ha ha, he hasnt a chance of getting 500p out of me never mind £500. Will let you know what happened

Konamb212

Wutang wrote: »

If you had any bad credit and wanted shared ownership then Preferred would have been your only real option!

Who are the company and why are you letting these unknown cold-callers round to your house without knowing what they want?

Dont have shared ownership, and yes its probably foolish, but it costs nothing to hear what they've got to say

dunstonh

Claims companies phone round telling you that you have been mis-sold even when you havent. A lot of these calls are scams. You can usually spot them as they want money up front to put the claim in.

There is also the issue of a data protection breach as this sort of data is not in the public domain.

Konamb212

Well, asexpected they did call.
Went through some usual checking of a few bits and pieces, basically they reckon Diamond mis-sold me a mortgage using preferred mortgages, then mis-sold agin by re-mortgaging me through GEmoney. By their rough calculations they reckon I could be entitled to possibly £11k !!:money::rotfl:

And the great thing is that all they want is £380 for processing it and then 20% of any compensation!:eek: I should have it within 6months!

Anyway, they showed me some bits of paper, and I find that if I go onto the FSA website I can dowload these forms myself - at no cost.

So I guess I'll just complete a form from the FSA myself and just see if there is any compensation on offer, somehow I doubt it!
they were also so kind as to offer to let me pay £95 today then the rest within 6 weeks. They could take cash,cheque,Visa,Electron, how helpful they were to releive me of any money!

I sent them on their merry way, and they got nowt, and will get nowt. But judging by their books they have quite a few appointments in this area alone, even if they only got 3 people to part with money today thats over a grand for a days work!

ILW

ILW wrote: »

He will prbably tell you that if you give him £500 he will get your mortgage written off. Keep us posted.

Blimey, I must be physic.

Elbow1

Your posts are very interesting.

I was also sold a mortgage by Diamond Lifestyle along with two of my neighbours/friends. I have just had someone knock on my door saying that I have been missold? Surely that cannot be the case as I read through the paperwork provided by the Solicitors who acted on my behalf and everything seems fine and it was what I had arranged. It cost me nearly £3,000.00 but I was happy with the service. What could I have possibly been missold? Can anyone help? Now being a single mother I really do not want to entertain some door knocker at my home? Surely if I have been missold there are companies out there that can help rather than door knockers?

Your comments please?

dunstonh

I have just had someone knock on my door saying that I have been missold?

Ask them to provide the documentary evidence to show that. if they do supply it then make a complaint yourself and then report this firm for having data about you that is not in the public domain. Plus, cold calling is not allowed by claims companies.

Claims companies are notorious for putting in opportunistic complaints which have little or no chance of success. Indeed, that is almost certainly why the uphold rate on PPI complaints with the FOS has dropped from 92% to 68% as try it on complaints start to increase over genuine complaints.

Tell us why you were told you were mis-sold and we can give you some opinion here.

Conrad

Elbow1 wrote: »

What could I have possibly been missold? QUOTE]


I suspect this;

Someone used to work for Diamond has now seen a new way to make money by misselling claims.

Even the name 'Diamond Lifestyle' just reeks of misselling, I can smell it a mile off.

I suspect the actual misselling will be that they could have used other lenders such as Nationwide or Halifax that offered perfectly decent right to buy schemes, but they went to Preferred and other SUBPRIME lenders as the commisions were high and they could slip in a fat fee more easily as customers didn;t tend to check up on such things in the way they might have done if the application was with the good old lofcal Nationwide / Halifax et al.

I bet Diamond also flogged terrible and costly insurance and often 'captialised' (added years worth of premiums to the mortgage) them.

So often I come accross these salesy type outfits that fleeced people woth costly mortgages on high rates.

I wish people would get better bullsh117 detectors - dont deal with salesy / roughish type people.