Mortgage mis-selling: How to start a claim?

edited 30 November -1 at 1:00AM in Reclaiming Mortgage Fees, Council Tax, etc
6 replies 906 views
bob_dobbob_dob Forumite
432 Posts
Hi,
I recently read an article about Mortgage miselling (one 's' or two?) and i remember there were three main criteria that would make it possible to claim.
I can not remember two of them but one was if the mortgage provider hadn't checked your income. Well, rightly or wrongly, 30 years ago my father was struggling to find a home for his young family so vastly exaggerated his income on a mortgage application to get a house. This worked and, as expected, he struggled very much for most of the last 28 years.

Please could someone point me in the right direction to check out the possibility of starting a claim? And maybe let me know if anyone else has been successful in making a claim?

Thank you in advance.

Replies

  • edited 19 September 2011 at 12:01PM
    dunstonhdunstonh Forumite
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    edited 19 September 2011 at 12:01PM
    I can not remember two of them but one was if the mortgage provider hadn't checked your income.

    That isnt grounds for mis-selling. If he used self certification, then the lender didnt have to check income. That was the whole point of it. It relied on honesty of the applicant as well as the application stacking up in criteria elsewhere (such as loan to valuation/deposit etc)
    Well, rightly or wrongly, 30 years ago my father was struggling to find a home for his young family so vastly exaggerated his income on a mortgage application to get a house. This worked and, as expected, he struggled very much for most of the last 28 years.

    So, that would put it around 26 years before mortgage regulation and if courts used, then it would fall outside the 15 year time bar.

    Your father would also have to admit committing fraud. Not something that is generally advisable.
    Please could someone point me in the right direction to check out the possibility of starting a claim? And maybe let me know if anyone else has been successful in making a claim?

    No chance of success here.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Dunstonh, as ever you give excellent, if blunt advice. Thank you.
  • roonaldoroonaldo Forumite
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    It's just to the point. Its straight direct advice and VERY accurate.
  • ~Brock~~Brock~ Forumite
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    If it was 30 years ago am I safe to assume that the mortgage is now paid off?

    Just out of interest, what would the claim be for exactly - to be put back in the position he was at the start i.e. homeless?

    Would he be claiming for stress and inconvenience of having to pay a mortgage each month - I think most of us have been there at some point.....it's called LIFE!

    Good grief.
  • McKneffMcKneff Forumite
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    Just move on ................
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • bob_dob wrote: »
    i remember there were three main criteria that would make it possible to claim.
    I can not remember two of them but one was if the mortgage provider hadn't checked your income. Well, rightly or wrongly, 30 years ago my father was struggling to find a home for his young family so vastly exaggerated his income on a mortgage application to get a house.

    It is wrongly, it is called FRAUD. Nowadays we have a bespoke Fraud Act but it only brings what was already a CRIMINAL OFFENCE into one piece of legislation.

    So you seem to be saying that the victims of the crime should be required to compensate the criminal for not preventing him from committing the offence against them.

    That is one of the most daft arguments I have heard in a very long time!
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