Sold Mortgage/credit card and bank account

FoggyHead

Hi I am new to this and was wondering if anybody knows if I have a case against Abbey National (Santander). I was naive and desperate for a mortgage and had been turned down by other lenders untill I walked into Abbey and sat down with there mortgage chap. To my surprize he said I could have a mortgage, ( I didnt realise this but he was tweaking my wage, I ended up with a mortgage about 6 times my income.) not only this but he said that I had to have a credit card (apparently it was part of the deal) and I also had to have a current account with them as well. ( this was because I could only pay my mortgage with one of there accounts) All this happened about 7 years ago. Since then I have been in bad debt and have even had to have an IVA, all through credit card debt. I admit I am not very good at handling credit cards. But I soon max out Abbeys credit card and they raised the credit levels a few times, I even took out a additional loan along side my mortgage but repayments where high and I reverted to credit cards again.

ILW

Sorry - no compo available for just being a fool.
You gat what you asked for and nobody forced to to run up a debt on the card.

dunstonh

I ended up with a mortgage about 6 times my income

Lenders did get silly with their lending decisions during the credit boom but they only gave you what you asked for.

I also had to have a current account with them as well. ( this was because I could only pay my mortgage with one of there accounts)

That used to be a very common requirement. Isnt nowadays but was in the past.

wondering if anybody knows if I have a case against Abbey National (Santander).

No. There is a thing called personal responsibility. Plus, as you went through an IVA you would probably have had some debts wiped out/reduced. So, trying to get compensation for your own failings does seem a bit of a cheek.

FoggyHead

Thankyou for your frank reply. To be honest I guest as much, just someone reckon I could claim. To anyone else out there in debt, don't be draft, don't be stupid and bury your head in the sand like ME! I have learnt a very very hard and very painfull lesson. DEAL WITH IT WHILE YOU CAN!!!!!!!