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Some advice in a moment of crisis would be great
Comments
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My dad had some kind of investment vehicle to pay off his mortgage which under performed but he got advice on how to challenge it and got the company to pay much more than they originally intended (he contested it a few times until he was happy with the settlement). I expect this comes under the historic 'mis-selling' activities. So seek expert advice on this to see if your parents can get redress for the poor performance of their policy.0
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Some great advice there, thank you, I will pass this on to Dad.0
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>they owe £115k to the mortgage company<
Being realistic, how was 64yo taxi driver going to find that sort of money or get a remortgage?
Downsizing looks the best bet, then seek maximum income from DLA/carers etc.0 -
amcluesent wrote: »>they owe £115k to the mortgage company<
Being realistic, how was 64yo taxi driver going to find that sort of money or get a remortgage?
Downsizing looks the best bet, then seek maximum income from DLA/carers etc.
I interpreted that there was a 40k shortfall and assumed the rest was being paid off by the investment vehicle.
The OP should look at the Shelter website which has information to help struggling home owners, including information on the various schemes available to prevent repossession.0 -
My dad had some kind of investment vehicle to pay off his mortgage which under performed but he got advice on how to challenge it and got the company to pay much more than they originally intended (he contested it a few times until he was happy with the settlement). I expect this comes under the historic 'mis-selling' activities. So seek expert advice on this to see if your parents can get redress for the poor performance of their policy.
Do you mean endowment misselling? Its probably a bit late for that
http://www.moneysavingexpert.com/reclaim/endowments-miss-sold#affect0
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