Mis sold mortgage help!!

Walker1378

dunstonh wrote: »

You wont get that from a claims company. They tend to issue template letters of the like you get from the internet.

And obviously you were complicit in this fraud as you are aware of it. Whilst that doesnt let the broker off the hook, it does mean you have committed mortgage fraud and that could make it difficult to obtain mortgages in future when you declare this to future lenders. You could end up shooting yourself in the foot as well as shooting the broker.

How do you know? i.e. what evidence do you have to support your claim. Typically, the broker should have an audit trail showing why a prime lender wasnt used. Of course, that doesnt mean a bad one will but what do you have to show he didnt do the research?

Give us some figures and the brokers here can tell you if you would likely have been accepted on a prime mortgage.

What was the loan to valuation? (and amount borrowed and purchase price)

Amount borrowed £83500 Purchase price £92000

What was the (rough) date of default and amount?

Default £400 October 2004

What was your earnings at the time (both declared and correct figures)?

Joint income of £24000 (true income)
£48000 (declared)


Why did you do interest only and not repayment? It suggests affordability was an issue and that is typically a reason why a higher risk lender was used. So, what reason do you have to counter that?

The broker reccommended interest only to keep our payments lower.

Why did you do self cert?

The broker encouraged this, unfortunately we took his advice.

What are you looking to achieve from a complaint?

Im not sure, i have just seen alot in the press about mis solf mortages and the criteria given seem to fit my situation.

musicmaker29

OP - you need to explain yourself better, or I suspect no-one will be able to help you out.

chewback

So you don't actually think you've been missold, you think you may be able to get some compo? You think this because of some ads made by claims companies but don't want to pay their fees either? Is that correct?

betmunch

I dont see how anyone can see this as mis-selling of a mortgage.

It Fraud, plain and simple. The only question is whether the OP is as guilty as the broker? As far as I can see her only defence is that the broker used his knowledge to make an in-experienced person feel this is just the way things are done.

OP still wanted the money, if the mortgage does what it said on the KFI then surely theres no mis-selling.

The complaint lies with the broker that sold you the mortgage, but any complaint could lead to action being taken against the OP

opinions4u

If you signed up to the income declaration you are complicit to the lie.

Your broker is in the wrong and should be shot.

But you committed a criminal act in order to obtain money.

puppychick79

Hi,

Dont know about making claims but i would be extremely carefull cos you may have a mortgage that your not entitled too as yourselves and your broker claimed that you were earning more money then you actually were. I think you would be opening a whole can of worms for what seems like maybe very little finanical gain. Just my opinion but I would probably avoid people looking into my mortgage so closely if I was in the same position as you.

cardinalbiggles

[disbelief]

I'm sorry but if your income was £24k joint and you said it was £48k in order to get a mortgage then your an idiot. Simple as that.

How did you ever expect to be able to pay the mortgage back when interest rates increase if you had to double your real earnings in order to get it?

[/disbelief]

FraudBuster

The Fraud Act 2006.

http://www.legislation.gov.uk/ukpga/2006/35/contents

ess0two

Jemma1504 wrote: »

Most of the replies i received were unhelpful and some i found quite offensive.
I asked for advice not to be abused - very disappointed.

You need the template to claim for mis sold mortgage,upon completion the debt will be cleared and a handsome compensation package paid to boot.:rotfl:

_Andy_

Jemma1504 wrote: »

Most of the replies i received were unhelpful and some i found quite offensive.
I asked for advice not to be abused - very disappointed.

I find people committing fraud and trying to 'claim' for this quite offensive.