Carrington Carr Home Finance in administration

montytb4

Hi,
Thank you for the advise you have both given so far.
Now rather than winding each other up, if either of you have a template letter / paragraphs suitable for writing to an underwriter or know of another site which has something useful it would be greatly appreciated. if you haven't just please say.
After all, isn't this forum here to help people.
cheers

magpiecottage

You can submit this form to whoever you are making the complaint to. Do remember to keep a copy and also remember to get proof of posting (free of charge from the post office).

If you do not get a satisfactory answer within 8 weeks you can then ask FOS to intervene.

If you are going to the underwriter and nobody there puts up the arguments I have made then it will probably be accepted for investigation.

I will not make the arguments I have here on the underwriter's behalf unless they pay me to! However, that does not mean somebody else wouldn't and I have in the past used a similar argument between an Ombudsman's provisional and final decisions, turning the case over at the death. (Harsh on the consumer perhaps but on the other hand, you should not have to redress something for which you were not legally responsible).

My point is that unless and until you have the cash in your bank account, you should not spend it.

montytb4

Thanks Magpie, I've got that form & questionnaire.
I had read on another forum that a certain type of letter was required for the underwriter, so that they don't just return a "nothing to do with us" response. its that or the wording I'm after.
Which camp are you in on this, the consumers side or the banks?


thanks again

magpiecottage

I am a neutral on this.

I believe you were ripped off by Carrington Carr. However, I believe it was probably acting under its own Mortgage Code subscription rather than the underwriter's subscription to the GISC code.

A covering letter to the underwriter saying that you believe Carrington Carr were acting as their agents and therefore you look to them for to redress for the missale.

Again keep a copy.

montytb4

I spoke with someone at the FOS this morning, they advised that there is now a company acting as reps for CC Ltd & dealing with complaints re CC ltd, so I should send my complaint to them...interesting...


...Sorry bum steer! No connection with that company.
But there is a proven connection with Assurant for policies sold by CC Ltd in 2004.

NyseriA

I am probably a bit late to this (although it's an ongoing theme that AWD provided suspiciously poor advice). Is it best to ask here, PM, or move to another, new, thread?

Thanks!

dunstonh

NyseriA wrote: »

I am probably a bit late to this (although it's an ongoing theme that AWD provided suspiciously poor advice). Is it best to ask here, PM, or move to another, new, thread?

Thanks!

You shouldnt PM. That is not considered good form on a discussion board. Ask here if its related to the thread as this has turned in to a general discussion thread about them. Or ask on your own thread if you feel its not quite on topic for this thread.

NyseriA

In brief; acquired a re-mortgage in 2008 after advice from AWD moving from an offset tracker (6.9%) to a fixed rate (5.8%) after being told that the interest rate was certain to rise and we should opt for stability. I appreciate that predicting the future is not an exact science and accept that this might simply be bad luck, but the advice was given in May 2008, shortly after 3 consecutive decreases in base rate (and the rest is obviously history).

We were also required to use their solicitors for £500 and despite the advisor obviously knowing our professions (and therefore our death-in-service and redundancy protections) we were told to get additional L&G critical illness cover etc. This initially included a host of other protections (redundancy etc) but we declined as it simply appeared that the advisor was trying to take all our disposable income and spend it on products that may be a little overkill.

We were also advised to put the end of a loan onto the mortgage (£3800) with a couple of years to run as well as 2x 0% credit cards at £7000 each). These would have been interest free for while before incurring a 3% charge to transfer the balance.

We also ended up being convinced that we needed a will, which was neither here nor there, but the cost of the will, the solicitors, the mortgage fee and the AWD fee (which was around £1800) all were put on the mortgage. In the documentation which, I am sure you'll be rightly horrified to read was not thoroughly read by ourselves, it states that we *wanted* this to go on the mortgage but we don't recall being asked this. There also seems to be a bit that states some money was released for "home improvements" but again, we can't remember this being requested.

We have voiced our concerns to L&G and they have effectively said that we were given the opportunity to raise concerns with the advisor and that we didn't have to accept his advice and were provided with the necessary documentation to allow an informed decision to be made.

It seems they can't find the L&G cover we paid for a couple of years before realising it was a waste of money and therefore cancelling it, that might have to be a separate issue I suppose.

If L&G are going to make a decision based strictly on the written record, I suppose we might be a little stuck. It says there that the insurance etc was not a condition, but this was not how it was put forwards. In order to get the best rates, we needed to ensure proper levels of cover, was the phrase I seem to recall.

So there you are, might be nothing, might be something, but since we would normally employ the services of a financial advisor for such things, we're not sure what to do!

Two lessons were certainly learned; read all the documentation carefully and ask for explanations of things you're unsure of, rather than leaving it to trust and an advisor telling you it's as you discussed. Secondly, had a second financial advisor come around from Mortgage Matters and try to foist an exorbitant fee onto the mortgage and that was spotted and they were asked to leave. Once bitten, twice shy.

Thanks!

Nys

dunstonh

In brief; acquired a re-mortgage in 2008 after advice from AWD moving from an offset tracker (6.9%) to a fixed rate (5.8%) after being told that the interest rate was certain to rise and we should opt for stability. I appreciate that predicting the future is not an exact science and accept that this might simply be bad luck, but the advice was given in May 2008, shortly after 3 consecutive decreases in base rate (and the rest is obviously history).

Nothing wrong with any of that. You could have been attempting to lock in a fixed rate at nearly 2% below the long term average.

We were also advised to put the end of a loan onto the mortgage (£3800) with a couple of years to run as well as 2x 0% credit cards at £7000 each). These would have been interest free for while before incurring a 3% charge to transfer the balance.

Probably an affordability issue as £7k is a lot of credit card debt.

If L&G are going to make a decision based strictly on the written record, I suppose we might be a little stuck.

Paper is all that is what matters. Plus, on the whole there is nothing particularly wrong with it on paper.

pressure sale complaints can have some credibility in the months that follow a sale. 7 years later and there is no credibility. If you are going to see an insurance company sales agent then you will be sold.

NyseriA

Perhaps, although we were not aware that they were an insurance company sales agent, having been referred to them for mortgage advice.