Missold a mortgage

starlitegaize

Hi fellow MSE-ers
Back in 2003, I remortgaged my flat and was offered a Birmingham Midshires mortgage product. I think I had adverse credit, ie a CCJ. The important thing was that it was portable.When I came to sell the flat, about 6 months later, it appeared that BM had made a "mistake"and as such, I wasn't eligible for "that" product. I was naturally penalised the full early redemption penalty. I raised a complaint with Birmingham Midshires and wasn't happy with their decision, so took it to the Financial Ombudsman who upheld my complaint.
I would have thought that if the FO upheld my complaint: that the Mortgage supplier would have to reimburse me. I've tried again, and I still am met with a brick wall.
I was told when they looked at the original application, and when I came to sell, they had two screens open, which made it look as though I'd got 2 CCJs so I shouldn't have been offered the product in the first place.
Any suggestions?
Thanks in advance

Sparx

Sorry just to clarify as your post isn't clear the current timeline of events. You took out a mortgage in 2003 - are you saying 6 months later you sold up and had this issue? As in it's now been about 14 years and you're trying to get the redemption money back still?

Or have you just recently come to sell the flat (i.e. last 6-12 months) now, and been told you had to pay the redemption penalty? So you've gone to the FO and they upheld your complaint? What happened after this?

What written correspondence did you get from BM and FO on this complaint that was upheld? I also don't understand how the mortgage went ahead, what rate/product was you setup with by BM when you bought the flat? What paperwork did you receive on this?

Thrugelmir

You raised the same question in 2013.

https://forums.moneysavingexpert.com/discussion/4774616

Did you follow up on Kingstreets comment:-

Mortgage advice didn't become regulated until October 2004, so this is well before then.

Prior to that, there was a voluntary mortgage code and in the first instance you should have complained to the firm which provided the advice which caused you to apply for the mortgage concerned.

starlitegaize

No, as I wasn't aware I'd received a reply.

dunstonh

You will likely be timebarred now anyway as I suspect you signed a letter accepting the redress as final settlement.

[Deleted User]

If the FOS found in your favour and it went to a final decision by an Ombudsman this would be legally binding and the bank should have paid the amount awarded at the time. I am not sure if they could now argue that it is time barred as you have left it so long....

What was the award made by the FOS?