Mortgage Advice

GILL635

Hi All

I'm wondering if you could offer some advice for my uncle.

He has recently split up with his wife, and part of the settlement is that he is buying her out of the house they shared. He has sorted all this out and paid her from his pension (he cannot work due to ill health but had a pension and shares that he could pay her with)

Now, Nationwide (his current mortgage provider) said that they could not give him a new mortgage in just his name. His friend advised him that he would go on the mortgage with him to help him out, as my uncle is in his early 60's so moving isn't really an option.

Nationwide approved everything on a 1% mortgage. All the paperwork was completed in both names and it had all gone through fine.

My uncle called them yesterday to check something, but could only get through to a call centre in India who could not really understand him to answer his question.

However, the call centre agent has told him that he cannot have the mortgage anymore, as he and his friend are not related. When he told them that it didn't matter that they weren't related, as none relatives got mortgages together all the time, he was told that it was because his friend was not going to be living in the property with him.

He is going to fight it, as he thinks they are just trying to get him on a mortgage with a higher interest rate.

Up to now, no one can tell him why a mortgage that has been authorised, and all the paperwork has been completed on is now being revoked.

All anyone will say is ''you are not related'' or ''you will not be living together''. None of us can understand why either of these things would matter. I know of several people who are not related but have bought houses together as an investment.

I have already told him he will probably need to contact the financial ombudsmen, but I am wondering if anyone here would have any other ideas / insight for us ?


Thanks in Advance


Gill xx

Dave_Ham

Hi Gill,

This cannot be true and sounds shocking for a man in his 60's to try and deal with.

Bits do not stack up though and this is highly unusual.

I suggest you get to your Uncles (distance allowing) and go down the local Nationwide with him and sort this out.

Ask away any specific questions, although I feel some parts have been mis-communicated or mis-interpreted so far...

GILL635

Thanks for the advice Dave.

TBH we can't understand it either! Don't get me wrong, he is fully in charge of his faculties so he isn't getting confused - but we just don't get how the decision can change based on who is going on the mortgage when it is already signed off and in writing!

It is literally his friend and neighbour who has said that he will go on the mortgage with him. He will not be contributing financially at all, it is literally for the paperwork as far as my uncle is concerned.

They are not a couple, so will not be living together and they are not related just very good friends.

You could look at it as some kind of discrimination i'm presuming ?

Feel free to ask me any questions in case I have missed something out


Thanks Again

Gill xx

Dave_Ham

Has this physically been completed and your Uncles friend been added to the deeds, or just been offered and awaiting completion?

I appreciate you may not know this for sure and may need to check as this is crucially important

savageHK

GILL635 wrote: »

Hi All
Nationwide approved everything on a 1% mortgage. All the paperwork was completed in both names and it had all gone through fine.

My uncle called them yesterday to check something, but could only get through to a call centre in India who could not really understand him to answer his question.

I thought Nationwide's call centers were UK based? I'm busy getting a mortgage with them at the moment and seem to need to deal with Northampton, never India.