Advice on possible mis-sold Remortgage ?

helen0378

Hi

Could anyone possibly tell me the best place to get advice on a remortgage that led to negative equity once complete and possible wrong doings on original consolidation loan that led to remortgage in first place. Please be aware this was a 2005 issue that as just resurfaced again in the form of a debt chasing company

thankyou in advance

Helen

_Andy_

In what way was it 'mis-sold'?

dunstonh

It must be Monday. Another mis-sale thread.

Could anyone possibly tell me the best place to get advice on a remortgage that led to negative equity once complete and possible wrong doings on original consolidation loan that led to remortgage in first place. Please be aware this was a 2005 issue that as just resurfaced again in the form of a debt chasing company

Ending up in negative equity is not grounds for complaint. Debt consolidation from expensive debt like unsecured loans and credit cards onto cheaper mortgage rates is not grounds for complaint. People do that every day.

Do you have a complaint reason or is it a spam/scam company trying to generate a complaint to see if they can earn out of it?

helen0378

I think it may have been mis-sold because at the time, a loan we had charged on the property un beknown to us was half secured and half unsecured on the property ( one loan payment with no idea of the split) the remortgage paid off the half unsecured and then 2 weeks after completion put a charge onto new mortgage for the original secured part of the loan meaning we were worse off than when we started. We need financial advice from a independent advisor that can point us in the right direction. Hope this makes sense

Helen

betmunch

Can you give us figures to show exactly what you mean as I am having trouble getting my head round this.

Also, can you quantify the financial loss you have suffered due to this situation.

Cheers

kingstreet

Helen,

Would it be possible for you to tell us exactly what you had, with whom and when.

Then, further explain what was changed and what was the objective in making the mortgage alterations you undertook. Did you seek out "advice and recommendation" from an adviser?

Finally, set out what paperwork you have from the alteration - factfind, copy application, initial disclosure document, key facts illustration, suitability letter?

TBH you aren't going to find anyone to take this on with what you've said so far. A claims scammer might screw you out of an upfront fee, telling you you'll get your mortgage paid-off in full, which won't be the truth of course.

If you can coherently set out your case, you may need only to obtain documentation from your adviser and frame a complaint to them, then the Financial Ombudsman Service (FOS) if you are unhappy with the adviser's response.