mortgage application disclosure

potatoefeet66

My complaint was looked at by customer relations manager who concluded she was not able to provide final decision and said i had raised points that she was not made aware of by advisor who conducted the interview therefore she passed case to head office who intern passed it to specialist complaints who intern last week contacted me and refused to discuss at all my issues and have now closed case without a final response. problem is fraud and manipulation of process and btrach of fsa rules.

potatoefeet66

the soft search on record 3rd feb records the underwriter and branch advisor so the rate was the issue.

head office agreed why was i not given figure in line with assessed income which i agreed, they said it would be because i would be paying so much of the mortgage that i would lose the scheme anyway but she would check and get back to me guess what she's not got back because that was not an issue.

JimmyTheWig

kingstreet wrote: »

On the day the application was submitted, the system should simply have said "insufficient income for amount requested, maximum loan £X" and you given the opportunity to decline or accept that amount.

But I think from what the OP has said that this didn't happen. And I think (though I don't follow it all!) that the point of all the dates that the OP has given is to show that it took days into the application before it was rejected.

OP, I don't know what has happened, but I can be pretty sure that the bank would jump at the chance of you reducing your mortgage at that rate. I doubt they'd have refused you for that reason.
What do you think went wrong, OP?

potatoefeet66

GMS wrote: »

Porting is always sibject to meeting the lending criteria at the time. It involves a new application.

You do not meet criteria, seemingly. A non advised sale no doubt so nobody to complain about.

The 'adviser' has talked a load of nonsense and attempted to score some points.

No grounds for any complaint as you do not meet their lending criteria, if I am reading it correctly.

If so what is the income issue?

Yes you are right i new it was a application which i was reducing the balance, hey maybe its that all 1930's semi and detached property is now worth less and id just not been told.

JimmyTheWig

potatoefeet66 wrote: »

head office agreed why was i not given figure in line with assessed income which i agreed, they said it would be because i would be paying so much of the mortgage that i would lose the scheme anyway but she would check and get back to me guess what she's not for back because that was not an issue.

Ok, the FOS won't get involved in telling them to lend you money because that's a business decision.
But if they're not dealing with your complaint properly (e.g. not answering you when they said they would) then you can go to the FOS.

A suggestion: You've confused us all on here with all these dates. There are some bright people here, who know an awful lot about mortgages. (Not including myself in that bracket, but others who have replied are.) If they haven't understood you then you need to think about how to word your FOS complaint. What is the problem that you are complaining to the FOS about? [I think you need to complain to them that the bank isn't getting back to you.] Tell them that straight away.

potatoefeet66

JimmyTheWig wrote: »

But I think from what the OP has said that this didn't happen. And I think (though I don't follow it all!) that the point of all the dates that the OP has given is to show that it took days into the application before it was rejected.

OP, I don't know what has happened, but I can be pretty sure that the bank would jump at the chance of you reducing your mortgage at that rate. I doubt they'd have refused you for that reason.
What do you think went wrong, OP?

well at the interview the advisor said isn't it un fair how some do well out of the property maker and make lost of equity and that her daughter and son in law are in negative equity in their flat in ......

personal axe to grind i think but long and short is if i failed meeting criteria why manipulate process, its a tough one for me to swallow.

potatoefeet66

Ive been to fos who offered me compensation for their failure as the lost my case file and eventually admitted that they do not deal with fraud had they told me that i would not have wasted my time with them my case went through four teams was lost and ultimately fos admitted they had failed to deal with it. I have now informed the ICo who do deal with fraud and i have submitted a full complaint to the independent assessor but I'm only at level one with that. But i suspect a cover up over a rate claw back.

p.s.I rejected their compensation over poor service and failures.

GMS

What is the issue with your income? Could you please answer.

potatoefeet66

GMS wrote: »

What is the issue with your income? Could you please answer.

income was less than when my original advance of 150k was agreed in 2005 self certified, the income then met criteria. however, is there not a recession on and i explained and showed income had fallen but fluctuation are not uncommon in my profession, they agreed assessed that income was about 15k so at the worst i should have been offered multiple of that figure but that was not mentioned until many many months after the decline.

fact that they cannot produce a copy of the disclosure document means i could in effect claim they never gave me any chance to apply which would be a breach of my mortgage contract. furthermore what if an unsigned and undated application slipped through I could legally refuse to pay it back. this is an utter mess

potatoefeet66

GMS wrote: »

Porting is always sibject to meeting the lending criteria at the time. It involves a new application.

You do not meet criteria, seemingly. A non advised sale no doubt so nobody to complain about.

The 'adviser' has talked a load of nonsense and attempted to score some points.

No grounds for any complaint as you do not meet their lending criteria, if I am reading it correctly.

If so what is the income issue?

please see post i understand what you are saying and your not wrong, however the documented facts show that the process was manipulated outside of fsa rules. I did not realise this and never intended to point the finger at any individual. I guess I will have to wait for the ICO investigation on the data breach, yes lender can do what they like in their own systems as long as they adhere to fsa mcob rules which this advisor and underwriter failed to do. A full search cannot be done with euifax as is recorded on my file 5th feb unless disclosure application is signed and dated that is the law under the data protection act.

My income is an issue that cannot be ignored I've never disputed this with my mortgage provider i was looking to port 138k but why not allow or even consider the further 82k of equity i still had to offer which i was prepared to do. unfortunately it was a clear case of all or nothing as if they said we will accept x amount then this would be a breach of my contract so they manipulated the application to try and force me off product. why would a lender leave a decision months after initial contact and allow customer to proceed to point of exchange and pull rug from under feet. that s not fair or reasonable practice is it.