Bank PPI on "dodgy" mortgage

Bubo

In 1996 I wanted to buy a property for myself and wife, agreed a price and was looking for a mortgage. Due to the nature of the property I was struggling to get a mortgage for the amount I needed and phoned the seller and told her. She told me she already had a mortgage on it for more than I was looking for, with Barclays Bank. I contacted Barclays, went through the application procedure and was told the same, they wouldn't mortgage it. I pointed out that they already had a mortgage on it for more than I wanted. They denied this.
I told them who had the mortgage with them, which caused a bit of an upset as it was a Barclays staff member. After a while they agreed they could "transfer" her mortgage to us, providing we took out insurance....

I was quite young at the time, this was my 2nd house purchase and I didn't question it as I had already sold my house stc and needed to move somewhere. Obviously I can claim for the PPI and will but, my question is, should I include the other information in my claim as an incentive to settle because I'm sure, in hindsight, that they acted illegally in what they did.

[Deleted User]

You're going to need to explain how they 'transferred' the mortgage.

Also, why do you think you can 'obviously claim for the PPI'?

dunstonh

After a while they agreed they could "transfer" her mortgage to us, providing we took out insurance....

Lenders are allowed to insist on insurance. So, no issues there.

Obviously I can claim for the PPI

Nothing you have said is obvious.
1 - is the insurance PPI? (it may be life assurance)
2 - if it was mandatory then it cannot be missold.

, should I include the other information in my claim as an incentive to settle because I'm sure, in hindsight, that they acted illegally in what they did.

As you have described it, there is nothing illegal in what they did. It is their money and they are free to decide who they want to lend it to.

GarthThomas

Banks are obviously allowed to give services to staff that they would not give to members of the public, there's nothing dodgy there.

-taff

So you're saying you tried to blackmail the bank into gving you a mortgage, which are not the actions of a naive person, who was buying their second house, and now want to make a complaint about the insurance they told you was mandatory.....

Good luck with that.

dunstonh

GarthThomas wrote: »

Banks are obviously allowed to give services to staff that they would not give to members of the public, there's nothing dodgy there.

Nope. Nothing dodgy there. Different lending criteria. Staff lending was handled at branch level by the manager. Retail mortgages used to be back in the day too but they moved to centralised processing with less discretion.

You and your blackmail threats on the other hand.....

[Deleted User]

dunstonh wrote: »

You and your blackmail threats on the other hand.....

You do realise that the quote you posted was not from the OP, right?

-taff

I think he's just reiterating the point....

[Deleted User]

-taff wrote: »

I think he's just reiterating the point....

I'd still like an explanation of how the Bank "transferred" the staff member's mortgage to the OP.

If anything, I'd say it's the staff member who has reason for complaint!

dunstonh

I'd still like an explanation of how the Bank "transferred" the staff member's mortgage to the OP.

It wouldnt have done. A new mortgage would have been set up to clear the old mortgage and the charge on the property changed as per every other mortgage that gets done. Its the OP just using the wrong terminology.

[Deleted User]

dunstonh wrote: »

It wouldnt have done. A new mortgage would have been set up to clear the old mortgage and the charge on the property changed as per every other mortgage that gets done. Its the OP just using the wrong terminology.

Obviously, but against the staff member's wishes?