Miss-sold Mortgages Help

Leon_W

It really does come to something when there are more complaints about the people who are supposed to be managing YOUR complaint.

http://badbiz.co.uk/tag/gladstone-brookes-complaints/


You really just have to ask yourself where they get all the money from for the very expensive daytime telly adverts.

opinions4u

Perhaps the FOS should automatically reject all complaints that arrive from a complaints handling firm.

mensrea01

Thanks Meeper,

I am not totally gullible like my partner who thinks its a good idea to go with them. I pay the mortgage, I know we can never get behind, I have only just heard about the mis-sold industry.

In my experience if is sounds good there is something wrong. I just have to wait it out until I finish uni and then change. I have decided to take a property module, I think having knowledge can be a very useful thing.

holly_hobby

Hi Mensrea01,

Everyone who contributes to the OPS post, whether giving advice that is welcome or sometimes hard cold facts, should always be thanked .. after all their time and value of experience is given willingly and without the desire for gain .. unlike cliams cos, but I can understand that you feel a little bamboozled with the comments raised. So I, if ok with you, will on your behalf say thanks to all whom commented ... both in anger at the approach of Gladstone (justified and agreed with), or to say that you should always read and understand any arrangement you enter into.

Having said that I can understand why the general public, when being contacted by such firms, believe there may be a source of compensation .. again rightly or wrongly thats todays society ... and I wouldn't hold that against you.

Moving on, thanks for clarifiying that your previous mortgage was on a repayment basis - one would assume that when you effected that mortgage the adviser discussed and explained the difference between interest only and capital and interest, with you choosing (the generally on a monthly basis more costly) repayment method, due no doubt to the underlying factor that the capital borrowed is eroded over the duration of the mortgage term.

The fact that this mortgage was effected on the alternate interest only basis, after your return to work after maternity leave, primarily suggestes to me that there were affordability issues, and that interest only was chosen for the lower monthly payments compared to a C&I mortgage. Which is I would guess, the basis of why you also elected not to effect a repayment vehicle at that time. (or you may just have forgotten to arrange one, memory can be a funny old thing !). But each annual mortgage statment would clearly show the basis of repyament, and contain a health warning urging you to consider how you will repay the mortgage at the end of the term.

You not being present at the meeting, yet signing the forms, well I am not sure this would present any coherent argument - as it is diffuicult to retrospectively prove such details (unless noted in the POS docs), or quantify signing legal documents without reading (or understanding) them.

I do have to say, that when I was advising, I wanted to see all applicants in person, to ensure in the first place, I could test their understanding of what they were entering into, and to ensure that I was protected against any future fallout and policy cancellations (aka dreaded commission clawback and naff persistency rates !).

From my own review of the comments you have posted, I don't believe there is any cause of blame or realistic chance of a succesful complaint being lodged - and I certainly don't believe that FOS would uphold either.

I think your decision to make endeavours to actively sort out the situation and look to move lender - may well be the most sensible option.

I wish you well ... and next time .... read what you blinkin' sign !

Holly x

dunstonh

ahhh, Gladstone Brooks. That explains it all now.

I know a mortgage adviser that has had fake complaint generated by them. Virtually everything in the template letter they sent was complete BS. It was an easy rejection of the complaint but it still doesnt take away that the adviser took it personally and was traumatised by it.

holly_hobby

Thats the issue Duns. the individuals whom are manning Gladstone (and FS claims cos in general) and inciting complaints, aren't professionally qualified or knowledgeable, so wouldn't recognise good or indeed poor advice if hit in the face with that and a wet kipper ... :doh:!!

H x

kingstreet

As far as I'm concerned, only the customer should get to complain free.

If the likes of GB and others want to try to make a living out of it they should pay the same £500 case fee as the "recipient", or they should be precluded from making complaints if more than a certain percentage fail to be upheld.

Until they face a penalty for their fishing trips, nothing is going to change.

mensrea01

Thanks Holly Hobby,

I did not know i had to thank everyone, sorry and thankyou. I was very suspicious of the whole situation, as i said in my first post they leave me along in general because I do not owe and don't get problems with them. So could not rely on breach of terms and conditions. With regards to the actually mortgage I made the right nosies and chatted to other half but - don't shout we did it online and over the phone, never met anyone. The broker was Adamson Walker. I am concerned that we are not in a position where we have to play catch up. How ever quick fix like the one offered are not the solution. I really cant coment on other halfs dealing as I was busy with a four month old and went back to work early so I could sell my property to buy one with my partner who has never owned property.

I was working for same firm to it was a continuation of service, but I don't know why we ended up with them. Because I have just started an LLB course and not up with the complications of mortgages this is why I needed advice. I don't see how they can force a defence under the mis rep act as it does not fit the criteria when telling the truth. If somebody wants to lie then I can see how it could work. I have only come to this conclusion in the last few hours. My other half has been dazzled by the offer of £50,000 compo . Will not listen to sense, he has got himself into £30,000 worth of debt with credit cards and a loan. God knows how and what on but thats nothing to do with my original post. He seem to think that he will get compo and pay off his debt (not mine I am debt free) then we can remortgage. I do think that there is a wider picture to who if any is to blame and what impact that has. I do thinks they are quick to jump on the PPI and lehmans brothers companies by what the posts have been saying.

Its the long hard slog of getting sorted then re-mortaging the right way for me. Or study really hard know my subject area qualify and have clients that pay me enough to pay my mortgage off. Ha ha ha if only life was that simple.
thanks again, nice chatting to you

Thrugelmir

mensrea01 wrote: »

he has got himself into £30,000 worth of debt with credit cards and a loan.

So appears that the broker may well have offered only one mortgage option for good reason at the time. Without being critical in anyway. Your inability to repay the mortgage now is in no way the fault of either the broker or the lender. At a point there has to be a degree of personal responsibility taken, as there's no one else to pass the buck to.

Suggest that you visit the Debt Free Wannabe board for some support and advice.

holly_hobby

It was just with you saying you didn't whether to thank people or not - re some blunt comments - but I know that you are thankful for all help and comments.

Blimey your other half is a card isn't he .. how to complicate a situation and some !!

Thruls has given some excellent advice to visit the debt free board, we need to get those debts down urgently, and he needs to make positive plans, instead of "get rich" quick schemes (forgive me if that sounds harsh).

I think we have bottomed out the mortgage query now - so will sign off saying that we all wish you well, and are always happy to provide you with any help and assistance you need - just give us a shout, theres always someone here to help !

Good luck with your studies ...

Holly