Miss sold mortgage

Givememoney_3

Fair enough. Thanks all

dunstonh

I did not know any fraud was taking place.

Telling lies on an application is fraud. It doesnt matter if its a mortgage application, a job application or whatever.

With regards to the false income used, I was 19/20 years old, sat in a Santander office, being asked questions.

An adult in the eyes of the law and way past the age where you should know whether telling lies is wrong or not.

To the question, "what's your annual income" my reply was "at the moment it's '£x' but it will increase to about '£y' to which he replied "ok, I'll put in £z" I was unaware anything illegal was being done.

The problem for you is that you can make that allegation. The bank staff member will deny it (assuming they still work there) and the bank files will likely show nothing to support your allegation that you were told that. So, all you end up doing is getting yourself added to the fraud register.

Nothing to gain but pain.

Lots of people did things wrong during the credit boom years. A blind eye was turned a lot of the time. it doesnt make it right. It was wrong. However, you were complicit in this regardless of what you think. It will be you that suffers if you draw their attention to it.

mrginge

Givememoney wrote: »

I do not class myself as committing fraud.

Well you did. But feel free to put the complaint in and see where you end up.

And I don't have 18 years left on my mortgage, I still have the full 35 because its still interest only.

Erm... Are you quite sure about this?

Yorkie1

Givememoney wrote: »

And I don't have 18 years left on my mortgage, I still have the full 35 because its still interest only.

You are wrong. If the mortgage term was 35 years when you took it out 7 years ago, then you have 28 years left (the post you replied to, assumed you had the standard 25-year term rather than 35 years).

You therefore now have 28 years to plan for repaying the capital you owe. You don't have 35 years from now.

amnblog

If you want to start repaying your capital you should be able to overpay each month without penalty, just check with the lender first.

If your objective is to get some kind of compensation because the adviser at Santander did their job poorly - good luck and remember to consult a solicitor when the mortgage fraud phrase comes up.

Goldiegirl

Givememoney wrote: »

I did not know any fraud was taking place.

Not sure that is completely true, in your first post you said

I'm sure doing that was illegal

welshwizard1927

If this was an electronic mortgage application, in which the banks representative inserted the details, I'm not entirely convinced that its the OP who committed that initial 'fraud'.

The OP provided the details and the representative decided what to insert, thus the representative is the person making the false representation, and not the OP, and that is the test under criminal law.

HOWEVER, if the OP subsequently signed documents confirming all the information was accurate, then that's a slightly different situation, and one which the OP is better off keeping quiet about.

neverdespairgirl

Givememoney wrote: »

To the question, "what's your annual income" my reply was "at the moment it's '£x' but it will increase to about '£y' to which he replied "ok, I'll put in £z" I was unaware anything illegal was being done. I wasn't using a independent mortgage advisor, I was using a national bank so even though I can see and understand all your points, I do not class myself as committing fraud.
.

Doesn't matter if you don't class yourself as committing fraud, because everyone else will!

What is your actual aim here? What do you want to change about your current circumstances?

holly_hobby

welshwizard1927 wrote: »

If this was an electronic mortgage application, in which the banks representative inserted the details, I'm not entirely convinced that its the OP who committed that initial 'fraud'.

The OP provided the details and the representative decided what to insert, thus the representative is the person making the false representation, and not the OP, and that is the test under criminal law.

HOWEVER, if the OP subsequently signed documents confirming all the information was accurate, then that's a slightly different situation, and one which the OP is better off keeping quiet about.

Not really a valid defence, as the OP has already confirmed they knew both and permitted at the point of sale, the presentation of inaccurate salary figs for assessment by the lender.

Givememoney wrote: »

The problem was, at the time of getting the mortgage, my earnings were not great but i had the potential to earn more in the coming months/years. So because I told him this, he put a false figure into his computer so it then allowed me to be accepted for the mortgage. I agree it was my fault for allowing this

Even if this wasn't the case, the upshot re the iffy aspects of the mge application being revealled, won't result in the debt being either written off or they receiving compensation.

Aside from the lender considering the legal position, I would imagine that under responsible lending regs, and if they don't just ask for immediate redemption based on the fraudulent application - would be to act as if the app was a new submission, and conduct an affordbility assessment on the OPs current financial situ. To which if they fail any affordability assessment will leave them rather between a rock and a hard place.

The next argument to rear its head in defence, could be that the lender should have checked the income was correct, so its their own fault. BUT if this was either a self cert or fast track app (neither of which require the lender to verify the income), then the lenders protection is that the info provided by the applicant was presented as being wholly accurate, and accordingly accepted by the lender on this basis (indeed the declaration the OP signed or checkboxed on a E-submission clearly denotes this statement). - and therein lies the lenders defence for accepting an application without seeking payslips/p6o, etc ...

So baring in mind there is absolutely nothing to be gained here, but a whole heap of heartache and muck, I would strongly advise the OP to leave things as they are.

If the OP can no longer sustain the mge (which is where this enquiry has come from), then downscale/look at reducing outgoings, and ensure that their next mge application is completed by them and thoroughly checked as accurate, before being submitted as factual to the provider

Hope this helps

Holly