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Advice Please:
Josh1
Posts: 1 Newbie
late 2005 I accepted a mortgage offer from Rooftop Mortgages repayments £328. increasing over the next 3 yrs. on the day of completion 4.30pm they called my solcitor to advise that they had made a mistake with the offer and I had to agree to repayments of £909. incresing to £1300. over the next 3 years. I have made a complaint to the FSA who took six months to investigate - as Rooftop have kept within there terms and conditions (they can withdraw the offer at any time before completion) my complaint was not upheld. I get the feeling that they are able to get away with this becuase I don't have the knowledge or resources to effectivly challenge them - does anyone have any advice please.
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Comments
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Post on the mortgage board, where there are people used to dealing with the FSA.
If the FSA have ruled against you, I don't know where you could go with this.
As the difference is so great, I wonder if the defence would be that you must have realised the figures were wrong. It does seem wrong that lenders can pull the plug between exchange and completion.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
How can the amount possibly nearly triple overnight?
How much is your mortgage, what was the first interest rate & what did it increase to? Did you arrange the mortgage directly or through a broker?I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Although Rooftop made a mistake, was it not your choice to take up their offer?
You said that you "had to agree". What would've happened if you declined?Well life is harsh, hug me don't reject me.0
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