Right to buy mortgage mis-sold

charm232

Advice given

Trying_to_be_good

What evidence does he have of being given the misleading information?

DevCoder

He said, she said, they said is by far the weakest of complaints, you cannot prove what was or was not said.

If it was in writing then its a better chance.

somethingcorporate

I am not sure a mortgage broker would be qualified to provide advice on the intricacies of the benefits system which changes on a very regular basis.

Would you really expect them to be able to? If that is the basis of your claim I think you will be on a hiding to nothing.

GMS

So it was expected the government give a discount on the purchase price and then pay benefits on order to make the mortgage payments?

Sounds like a great scheme. Can we all have one of these?

If mortgage rates had risen would you still be looking for a mis-sold claim?

_Andy_

"10 year fixed rate, completely wrong for his circumstances"

Why was it wrong, and if it was, why did he accept it?

holly_hobby

I have to be honest and say that he being told that he could charge the co-owner (his Mum - whom was the one entitled to the RTB discount) rent is highly debateable, and I don't believe would be accepted as fact if it got as far as FOS. I also don't believe that his knowledge of not being able to charge her rent, would have disuaded them from purchasing the property under the discounted scheme - so in my opinion this part of the complaint lacks merit and would not be upheld.

Turning to the advice to effect a 10 yr fixed rate - well advice is based on the circs at the point of sale (POS), and those KNOWN and divulged to be occuring in the future.

The selection (if recommended by the adviser and not requested by your partner) of a 10 yr fixed rate, suggests to me that there were budgeting issues, and that at POS, the individual wanted to know for certain what the mge commitment would be for as long as possible (given the max term of available deals at the time).

It would be intresting to have details of what the recommendation/reason why letter states regarding the selection of lender and mortgage product - but as I say, it is my guess, 10 yrs was requested by your partner OR was felt beneficial given budgetary constraints or requirements at the time.

Hope this helps

Holly

roonaldo

Nothing you have said sounds like a mis-sale (a phrase far too over used). Most of your issues seems to be over hearsay, also changed circumstances.

Your issues seem to be that you cannot afford it now, due to these £900 a month nursery charges. But the mortgage was taken out 6 years ago long long before the baby came around.

opinions4u

I did something a few years ago that doesn't suit me anymore.

Who can I blame?

Jimbo1976

Well whatever was said at the meeting, there would have been some documentation. The Key Facts Illustration (which shows the monthly payment, fees etc) would have disclosed the cost of the early redemption fee.

Your husband and his mother would also have seen the mortgage offer which would have disclosed these fees and costs again. They would have needed to sign these before the solicitor allowed the mortgage to complete.