council right to buy mortgage

redjamie

hi guys
can anyone tell me if it is true you can claim against a right to buy mortgage from the council was contacted last week regarding this but was unsure if it was true anyone know anythng about this
i am not asking about ppi this is a right to buy mortgage
thanks for any help :money:

dunstonh

can anyone tell me if it is true you can claim against a right to buy mortgage from the council

If everything was done correctly then no. If you have identified any wrong doing then you can make a complaint on post October 2004 mortgages (not pre 2004) against the person that advised you. Assuming you were advised and did not DIY.

was contacted last week regarding this

There are some dodgy cold calling companies operating on this front giving spurious reasons for complaint. They say things like broker fees added to mortgage as being wrong (it is not wrong and is allowed).

Like any area of business, a minority of cases can be done wrong but its pretty easy to see where they are done wrong. In the credit boom days where lending was easy to obtain, there was a fair bit of wrong doing but a lot of it occurred prior to regulation (the 2004 date I mentioned) and a lot of the wrong doing was done by the borrower (such as increasing their income on the application or telling outright lies about employment details etc. When the borrower has told lies it would be daft for them to complain as lenders have a blacklist they share and you dont want to be added to that.

Most of the claims companies that operate in this field appear to come back with an upfront fee either straight away or a month or two later saying they need a fee to proceed. That is where they make most of their money. Not in the minority of cases where redress is payable.

Do you have any reason to think your right to buy mortgage was mis-sold?

_Andy_

redjamie wrote: »

hi guys
can anyone tell me if it is true you can claim against a right to buy mortgage from the council was contacted last week regarding this but was unsure if it was true anyone know anythng about this
i am not asking about ppi this is a right to buy mortgage
thanks for any help :money:

'Claim' for what exactly??

Credit-Crunched

You get a house for massively under market value and you are still looking for more money

ive303422

hi i have seen this around about claiming fees back from brokers when you did your right to buy from the council ....is this true and if so how do you go about doing it or do you need to use a firm as one has emailed me called tandem law says no fees they take free from the other party involed ...:j

ILW

You do have to give the discount back though,

McKneff

ILW wrote: »

You do have to give the discount back though,

Well said:T:T:T

McKneff

ive303422 wrote: »

hi i have seen this around about claiming fees back from brokers when you did your right to buy from the council ....is this true and if so how do you go about doing it or do you need to use a firm as one has emailed me called tandem law says no fees they take free from the other party involed ...:j[/QU

Have you actually google 'Tandem Law'

Ignore cold callers to your phone, they are usually after your money up front anyway and pray on stupid people who they convince easily that they can get them some money.
Dont fall for it.