Mis-sold mortage

Hbaby

I currenty have a mortgage on a house which I got through the Halifax, I was just in the process of selling it after accepting an offer. I have just been told that due to the nature of the build (crude skarnes) that you can no longer get a mortgage against it.
I would not have purchased the house if I had known this, I also contacted the Halifax to see if they still offer mortgages against this type of build and was informed they may buy not guaranteed unless it had a BRE report on it and that the rules for mortgages on these changed on the 1st of Nov..
Had I been informed about this I would have sold it before these changes took place..
Question is have I been mis-sold this property? Why wouldn't I be informed of such changes in the rules .. Now I'm left with a property that you can't get a mortgage on and would require a cash buyer. Who is responsible for this?

Johnnytwostep

Hbaby wrote: »

I currenty have a mortgage on a house which I got through the Halifax, I was just in the process of selling it after accepting an offer. I have just been told that due to the nature of the build (crude skarnes) that you can no longer get a mortgage against it.
I would not have purchased the house if I had known this, I also contacted the Halifax to see if they still offer mortgages against this type of build and was informed they may buy not guaranteed unless it had a BRE report on it and that the rules for mortgages on these changed on the 1st of Nov..
Had I been informed about this I would have sold it before these changes took place..
Question is have I been mis-sold this property? Why wouldn't I be informed of such changes in the rules .. Now I'm left with a property that you can't get a mortgage on and would require a cash buyer. Who is responsible for this?

No you were not missold.....next.

foxy-stoat

Hbaby wrote: »

Who is responsible for this?

You are responsible for your property.

I googled "crude skarnes" and nothing came up.

Maybe your solicitor should of looked into their crystal ball and advised you accordingly of the implending rule changes.

You can still live in the property all is not lost.

Goldiegirl

How would anybody know that lending rules would change at some point in the future, unless they had a time machine?

amnblog

The decision to buy is not the Lender's responsibility.

If your property is not standard construction a survey report before purchase would have identified this and helped you to make an informed decision.

tomtontom

Can anyone explain what crude skarnes is please?!

Got it!

The "Skarne" industrialised building system demonstrated in the example of a two-storey housing project at Peterlee, Co. Durham, showing the casting in moulds of the concrete panels and slabs near the site and their assembly on site. Intended for local housing authorities, architects and students.

Johnnytwostep

foxy-stoat wrote: »

You are responsible for your property.

I googled "crude skarnes" and nothing came up.

Maybe your solicitor should of looked into their crystal ball and advised you accordingly of the implending rule changes.

You can still live in the property all is not lost.

http://fields.eca.ac.uk/gis/?!!!!!skarne

not sure why above but where it is !!!!! should say 'ta g=' no spaces

just google skarne and you will see examples of this non standard construction.

amnblog

Goldiegirl wrote: »

How would anybody know that lending rules would change at some point in the future, unless they had a time machine?

Like Rod Taylor

Johnnytwostep

Doc Brown was much better

kingstreet

Should this be "Cruden Skarne?"

If so, my guide to defective property says these were built 1960 onward, are large-panel system built and the approach;-

"Unacceptable - But special cases of high merit can be
considered. These will be generally high value
properties with proven demand. Properties that are
accepted locally by other major high street lenders may
also be considered, even if values are lower than
traditionally built properties; however, there must be a
proven demand for the properties."

My guide is approximately ten years old, so you seem to be discovering something which has been common knowledge for years.

If you had a mortgage report and valuation carried out at the time of purchase, it would have pointed out potential future re-sale issues to the lender. To you too if you were given a copy.

If not, your survey should have told you the same. You did have your own survey didn't you?

magpiecottage

I am afraid, like the others, I do not think this is a case of the mortgage being missold.

The OP made a purchase of a property using a loan from Halifax which was secured on that property.

It was an exercise of legitimate commercial judgement on the part of the Halifax to accept that property as security. It has now decided it will no longer accept that property (or similar properties) as security. Again, this is an exercise of legitimate commercial judgement.

In terms of who is responsible, not the lender, for the reasons I have given.

Nor is it any mortgage broker - for similar reasons.

The original solicitor MIGHT be if there was evidence already available such that he ought to have know of the potential problem. I think, though, that is unlikely.

A surveyor ought, perhaps, to have identified that the property was of a construction which made it a higher risk of a problem down the line but if the OP only paid for him to tell the lender what the property was worth for mortgage purposes, that is unlikely to help.

If it was a full survey which was paid for direct to the surveyor, then there may be a valid claim.

If it was a homebuyer's report, which is a sort of in between and arranged by the lender, then there may be a valid claim that the surveyor acted as the lender's agent and so a complaint to the lender, and if necessary to FOS might succeed.