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Homestead Finance
Faisal
Posts: 3 Newbie
I had a certain situation which I need help with. Firstly I wanted to know if you could help and secondly what your charges would be if you could.
Back in 1989 ish my father took out a re-mortgage. He was never fully advised and, long story short, we feel he was ripped off. The loan he took was about £15k. Now, after having paid in excess of £37k back, they claim he owes around £90k!
We really need to fight this. I have absolutely all the information required including the original documentation. He was never given financial advice. Can you help? It was originally with homestead finance but has been passed around about 5 times and has recently gone to West Brom Society.
Back in 1989 ish my father took out a re-mortgage. He was never fully advised and, long story short, we feel he was ripped off. The loan he took was about £15k. Now, after having paid in excess of £37k back, they claim he owes around £90k!
We really need to fight this. I have absolutely all the information required including the original documentation. He was never given financial advice. Can you help? It was originally with homestead finance but has been passed around about 5 times and has recently gone to West Brom Society.
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Comments
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Charges?
Did you mean to post this in here?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Faisal, you misunderstand what this forum is about. It's people discussing topics. It's not a service !
Second, I'm going to go out on a limb here and guess that your father did not remortgage but he instead took out an equity release loan which is something very different.
check the paperwork.
Finally when you say "he was never really advised" what do you mean by that? Because if no one gave him advice there would seem to be no one to blame but him unless I'm misunderstanding things.0 -
PS check this
http://www.thisismoney.co.uk/money/cardsloans/article-1592833/pound9000-bill-for-two-missed-payments.html
Also if you google the company name you get more PPI hits than anything else. So there could be a return to come from that. Nowhere near enough to cover this debt though.
I'm guessing there is a massive interest rate still tied to this policy and your father has never done anything about checking on progress of the loan or mortgage or whatever it is ?
You are probably best off posting in the debt free board it's not really a mortgage question.0 -
I wondered if he had sent a PM to someone then C&Ped the message in here for some reason.AnotherJoe wrote: »Faisal, you misunderstand what this forum is about. It's people discussing topics. It's not a service !I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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