MissSold Mortgage

Legacy_user

I have been looking at my current mortgage and it ticks quite a lot of boxes of it being missold. Has anyone used any firms to try and solve similar problem and if so were they any use. Any info would be appreciated,

kingstreet

What are these issues you've identified?

Was this an advised sale? When was the advice given?

dunstonh

I have been looking at my current mortgage and it ticks quite a lot of boxes of it being missold.

Let me guess. You have had a cold call from a company that knows nothing about you giving you a list of reasons why you were mis-sold. (most, if not all, will be complete and utter rubbish).

Has anyone used any firms to try and solve similar problem and if so were they any use. Any info would be appreciated,

The very small number of claims companies active in this area and the FOS themselves saying they see very few problems with mortgages and the only real area they have concern with is where someone went sub-prime when the could have gone prime is a good indicator of whether something is widespread or not.

The few claims companies that are active in this area make spurious claims, such as you shouldnt have your fees added to the mortgage, which is allowed. They typically follow up at some point telling you to pay a fee in advance. Not always immediately. The worse advance fee fraud cases tend to do it in multiple steps. Initially taking nothing (or a couple of hundred pounds) then come back to you later telling you that you were missold but you need to pay more money for their solicitors (who dont actually exist) to put in the claim.

Bottom line is that you are being scammed. Maybe you should tell us some of these reasons you have been mis-sold.

roonaldo

It's probably unlikely it was mis-sold. Why do you feel it was?
Don't fall for what a CMC tells you. They will tell you anything.

System

OK, here are a few 'boxes' that it ticked.
Distance selling, didn't see the broker, documents came with post it notes on pages to be signed and they wanted a reply quickly. Self Cert mortgage without even asking for proof if I could afford it, at that time I had no idea what a self cert was, no mention of how to repay the mortgage, no key facts sent with the documentation, etc, etc. I did some research and called a company and they do charge a fee but if nothing can be done they say it will be refunded.


At that time I was in a serious financial trouble and almost had the house repossessed and now I am very worried that I will not be able to afford to repay it.

GMS

Ignorance is no defence.

Be careful as to what you now claim. Declaring the income by self cert when you knew it to be untrue is fraud and may end up with you being investigated and put on the naughty list meaning future credit will be dfficult to obtain.

amnblog

If this was self cert it was over five probably sevenyears ago.


Why is this suddenly a problem today?


If you signed the application form confirming the income stated and it was incorrect - you are at fault.

shortchanged_2

Haverp wrote: »

OK, here are a few 'boxes' that it ticked.
Distance selling, didn't see the broker, documents came with post it notes on pages to be signed and they wanted a reply quickly. Self Cert mortgage without even asking for proof if I could afford it, at that time I had no idea what a self cert was, no mention of how to repay the mortgage, no key facts sent with the documentation, etc, etc. I did some research and called a company and they do charge a fee but if nothing can be done they say it will be refunded.


At that time I was in a serious financial trouble and almost had the house repossessed and now I am very worried that I will not be able to afford to repay it.

Were you physically forced to sign for the mortgage?

Was it one of those mortgages sold by the Kray twins?

TrickyDicky101

Haverp wrote: »

OK, here are a few 'boxes' that it ticked.
Distance selling, didn't see the broker, documents came with post it notes on pages to be signed and they wanted a reply quickly. Self Cert mortgage without even asking for proof if I could afford it, at that time I had no idea what a self cert was, no mention of how to repay the mortgage, no key facts sent with the documentation, etc, etc. I did some research and called a company and they do charge a fee but if nothing can be done they say it will be refunded.


At that time I was in a serious financial trouble and almost had the house repossessed and now I am very worried that I will not be able to afford to repay it.

Ah, so you engaged - willingly - in mortgage fraud?

Pay this company their fee - you won't see the money again whatever they claim.

dunstonh

Distance selling, didn't see the broker, documents came with post it notes on pages to be signed and they wanted a reply quickly.

Nothing wrong with that. How do you think all the internet and phone based distribution channels work?

Self Cert mortgage without even asking for proof if I could afford it, at that time I had no idea what a self cert was, no mention of how to repay the mortgage, no key facts sent with the documentation, etc, etc.

Having self cert does not mean you had a worse mortgage. There is also a risk in putting in a complaint on this basis as it takes two to tango. You applied for self cert. You made certain disclosures. Are you now saying those disclosures were wrong? if so, the lender may consider that you have committed mortgage fraud and blacklist you (there is a register for this).

Key facts are normally sent multiple times. The offer letter you sign contains the key facts. So, how can you say you didnt get it?

With regards of how to repay the mortgage, how do you think a mortgage gets repaid?

and they do charge a fee but if nothing can be done they say it will be refunded.

And there is the advance fee in advance fee fraud. Dont believe the refund bit. These companies typically go on to fail (on purpose) and enter administration with no assets and no way to refund the money. There are plenty of examples of this. Some very high profile.

tomtontom

Have you read the terms and conditions for this new company? No? I see a pattern forming ...