Mis-sold Mortgage Northern Rock Together Mortgage

~Brock~

With mortgage facilities very much a priveledge and not a right nowadays it is completely beyond me why anyone would want to sign up to seriously pi$$ off their current provider and send them on a complete wild goose chase.

With demand far outstripping supply, I would certainly consider excluding those in the future who have signed up with dodgy ambulance chasers to do nothing more than waste everyone's time.

dunstonh

they have said that the fee would be taken out of any settlement.

That assumes that any redress is actually paid to. In some cases the redress can be used within the product. So, for example, the lender may reduce the mortgage balance down by the amount of redress rather than pay it to you. You then have to pay the money out of your own pocket.

People in arrears or with debts written off will see the redress used to clear those rather than paid to them. Again, you have to pay the fees to the claims company out of your own pocket.

By what they have said (the letter of complaint went last week) they have said that the whole mortgage and paperwork that NR have supplied is a right mess and that also some extra money we had to put on the loan to move house they have not got any record of any signed documents etc. To be honest it is a right mess and is confusing the hell out of me now :-(

Did you use NR or a broker? if a broker, then NR will have very little paperwork and dont need to have much. The lender is allowed to lend you as much as they want. Its not a mis-sale if you ask to borrow more and they say yes.

jonnyd281

If the OP wins, can the mortgage lender then call in the loan, ie demand that the mortgage is repaid in full?

roonaldo

jonnyd281 wrote: »

If the OP wins, can the mortgage lender then call in the loan, ie demand that the mortgage is repaid in full?

the original post wont win.

jonnyd281

More a hypothetical question on my part, you heard of the banks closing peoples accounts when they reclaimed their bank charges, would they do the same with a mortgage?

roonaldo

fairylight wrote: »

Has anyone successfully claimed on a Northern Rock Together Mortgage. We are currently going through Gladstone Brookes to claim on our mortgage, wondered if anyone had been successful, how long it took and what sort of money they got back?

When was this mortgage taken out?

magpiecottage

fairylight wrote: »

Has anyone successfully claimed on a Northern Rock Together Mortgage. We are currently going through Gladstone Brookes to claim on our mortgage, wondered if anyone had been successful, how long it took and what sort of money they got back?

fairylight wrote: »

I was working as a PPI recovery person for a while and its a new thing that has come over from the states where it has become very successful. Main things to look for are whether you went through a broker to get your mortgage, lots of secret commissions etc being paid, especially if they referred you to a sub-prime lender. Its called mortgage auditing to see if there are any things that don't add up in the mortgage, and believe me there are lots of people now becoming aware that they could have been taken advantage of.

Think about this.

We have a new poster. They claim to be a "PPI recovery person".

They know about "mortgage auditing". They know about secret commissions.

They mention one specific ambulance chaser who they have apparently used despite the fact that they could clearly do this for themselves.

[TEXT DELETED BY FORUM TEAM]

antrobus

magpiecottage wrote: »

Think about this ....

From other threads and posts it appears that the OP purchased an ex-council non-standard construction Trusteel steel frame house in 2003, and obtained a mortgage from Northern Rock. It seems that this property could "potentially have major problems" and that the OP is "virtually in negative equity", and so appears to be looking to get either the council or Northern Rock to cough up some money.

However mortgage regulation only kicked off in October 2004, so there is no real prospect of making a succesful mis-selling claim for a mortgage taken out before that date.

dunstonh

antrobus wrote: »

From other threads and posts it appears that the OP purchased an ex-council non-standard construction Trusteel steel frame house in 2003, and obtained a mortgage from Northern Rock. It seems that this property could "potentially have major problems" and that the OP is "virtually in negative equity", and so appears to be looking to get either the council or Northern Rock to cough up some money.

However mortgage regulation only kicked off in October 2004, so there is no real prospect of making a succesful mis-selling claim for a mortgage taken out before that date.

Plus, none of those issues indicate a mis-sale. The OP could have paid to have a surveyor look at the property. By not doing so, they take on the risk of making the choice to buy without being fully informed.

roonaldo

so basically in layman's terms, they bought a s**t hole and they think its the lenders fault.