miss sold mortgage interest only

dunstonh

The more stand out issue to me is the broker putting you with a sub prime lender when you claim not to have adverse credit rating.

It was also self cert (so income may have something to do with it).

andyfromotley

I'm guessing (and given the OP posts there is little else to do!!) that the current Mortgage provider have reviewed the old paperwork in some sort of compliance review and found it not quite in order. They have informed the OP and he has thought Kerrrrrrrrching, i can get out of this crappy mortgage I'm in and fund my retirement at the same time.

Given his point blank refusal to state in what way any of this has financially disadvantaged him i'm guessing that he has run the numbers and found out that it hasn't. In fact i suspect that he may have discovered that any change may have been in his favour. So i'm guessing he has worked out his best bet is to play dumb and SCREAM that they never got me to sign the right paperwork!!! Its bang out of order........ wheres my suitcase full of money?

connor08

betmunch wrote: »

So you were going for interest only from the start?

We need to know the difference between the illustration for what you thought you were getting and what you actually got.

Once that is out in the open we might be able to get somewhere with what you should get back. Hi it was a re mortgage from a capital and repayment mortgage to an interest only.he said I'd we went on interest only it would be cheaper and didn't give any offer of capital and repayment figured we're not given prices for capital and repayment they moved us to a sub prime lender. Whare the mortgage was cell certified even though I could have provided income and expenditure details. There made me consolidate more than I need to they.had it was to free up income and then they said so I was they made me pay off a first charge second charge and consolidate my windows too when I only needed to re mortgage. The company came out and did this all at my home

connor08

To Andy from outley I'm a she not a he and all I want is a fair hearing about my.complaint. I'm not in the least interested how it works it self out as long as I've been given the justice my case deserves to be heard and in no way going to get suitcases full of cash. Any sooner than I'm going to win tonight's lottery but if the company has done wrong then this is why the fscs is here to put things right thatsvwhy martins site is here to tell people don't be afraid to complain to people for justice. If you don't believe in fair justice then why are you on this site.

connor08

connor08 wrote: »

To Andy from outley I'm a she not a he and all I want is a fair hearing about my.complaint. I'm not in the least interested how it works it self out as long as I've been given the justice my case deserves to be heard and in no way going to get suitcases full of cash. Any sooner than I'm going to win tonight's lottery but if the company has done wrong then this is why the fscs is here to put things right thatsvwhy martins site is here to tell people don't be afraid to complain to people for justice. If you don't believe in fair justice then why are you on this site.

It's not about cash it's about justice to stop miss selling to stop things like ppi miss selling these people think they own us because you have signed a document I've still got my house if I felt at a loss I could still sell it believe you me but it's the principle of complaining but I might come away like a total !!! but I've at least tried and that's what people in this country are afraid to do

shortchanged_2

connor08 wrote: »

It's not about cash it's about justice to stop miss selling to stop things like ppi miss selling these people think they own us because you have signed a document I've still got my house if I felt at a loss I could still sell it believe you me but it's the principle of complaining but I might come away like a total !!! but I've at least tried and that's what people in this country are afraid to do

Personally I see this compensation culture we have now as a blight on this country.

Yes there are genuine cases of mis-selling but there are also thousands of cases where people should take responsibility for their own actions.

It's blatantly obvious that interest only mortgages are going to be the next raft of mis-selling claims but as far as I am concerned they have no case.

People took out IO mortgages to reduce their monthly payments and for many that has backfired and the chicken has come home to roost. But now these people are looking for anyone to blame but themselves even though they signed and agreed to them.

ViolaLass

OP, so now you're saying that you wanted a repayment mortgage for a lower amount but were given an interest-only mortgage for a higher amount?

Your story has changed again.

GMS

I am guessing along the lines of:

OP had a mortgage and a second charge which had been taken to consolidate debt. They also had replacement windows from Safe Style or similar on buy now pay in 12 months.

When the time to pay arrived they were struggling with all payments so decided to consolidate into one mortgage. Interest only looked attractive as it freed up cash each month. Income was short o they decided to self cert.

All was well until the payments couldn't be maintained due to racking up futher debt. Repossession threatened and now OP has been contacted by a dodgy firm claiming they can get mortgage written off for a fee and have some magic beans thrown in for free.

Apologies to OP if this is way off the mark but the thread is far too complicated to follow.

Nearlyold

Connor08


With the greatest respect can I suggest that, when you put in your formal complaint, you slow down a bit, try to be calm and stick to one point at a time and not fire off in all directions, to be honest even though I was a mortgage adviser in the dim and distant past I am finding it very difficult to work out what the problem actually is.

andyfromotley

connor08 wrote: »

To Andy from outley I'm a she not a he and all I want is a fair hearing about my.complaint. I'm not in the least interested how it works it self out as long as I've been given the justice my case deserves to be heard and in no way going to get suitcases full of cash. Any sooner than I'm going to win tonight's lottery but if the company has done wrong then this is why the fscs is here to put things right thatsvwhy martins site is here to tell people don't be afraid to complain to people for justice. If you don't believe in fair justice then why are you on this site.

Why oh why won't you tell us HOW WERE YOU DISADVANTAGED???

I call bluff on you. I think that you weren't. I think you may well have been BETTER OFF by this change. Post the numbers connor. From your post i think that you do see this as a way to get free money. Thats what this "justice" is all about. If you were i disadvantaged i will support you every step of the way.

HOW.....WERE.....YOU....DISADVANTAGED??