Reclaiming Santander PaymentCare

davecarr2000

If you look at the statement of demands and needs that will have what was recommended and why and if it doesn't meet the mortgage need, it will say way (such as not willing to pay the whole premium required)

We don't have the statement you mention, I assume I can request this?

However you mention not willing to pay the whole amount, but there would be no option to pay more even if she had wanted to, as she would then receive more than 50% of her salary as per their rules.

dunstonh

We don't have the statement you mention, I assume I can request this?

It would have been given at the time but yes, it can be requested.

However you mention not willing to pay the whole amount, but there would be no option to pay more even if she had wanted to, as she would then receive more than 50% of her salary as per their rules.

And if that is a product restriction then it will be mentioned. Tied agents can only retail what they have available to them. It is one of the reasons why you shouldnt see tied agents but use independents/whole of market advisers.

i have some concerns over this 50% figure. It is highly unusual for someone to spend over 50% of their net income on their mortgage (unless partner/spouse included). Was she really paying over half her income on the mortgage?

davecarr2000

Was she really paying over half her income on the mortgage?

Yes, Santander take into account working tax credit, child tax credit, and child benefits. Of course the working tax credits would stop if she wasn't working, and the child tax credit and benefit is irrelevant, as it is for the children, not to pay mortgage.

When out of work claiming the MPPI, santander can't expect money for children to be used for mortgage.

Also she already had a mortgage with them, which was in joint names, and was changing to her sole name. Maybe she wouldn't have got the mortgage if she was a new customer?

The MPPI only pays out on her Salary, and it is not enough.

haras_nosirrah

davecarr2000 wrote: »

Yes, Santander take into account working tax credit, child tax credit, and child benefits. Of course the working tax credits would stop if she wasn't working, and the child tax credit and benefit is irrelevant, as it is for the children, not to pay the mortgage.

And yet she was using child related benefits to afford the mortgage in the first place. Just saying that that kills that argument as I am guessing without using child tax and child benefit the lender would not have leant enough