Mis-sold Interest Only Mortgage

Wake_up_call

haras_nosirrah wrote: »

where in the country is housing worth less now than it was in 2006?

Northern Ireland.

haras_nosirrah

Wake_up_call wrote: »

Northern Ireland.

different country although part of the uk although I take your point that they were disastrously affected.

nissan25

Wake_up_call wrote: »

Northern Ireland.

Yes and that's exactly where we reside - NI

nissan25

ACG wrote: »

Home visits do not mean sharp sales tactics. I visit people in their homes, I prefer it - not because I earn more money or convert more but it is always nice to meet people you are working with. Some people bring their parents or a friend which is fine.

Was the mortgage (the one your mum took out) less/the same as the rent?

I can see your point, but I think you need to get the relevant paperwork and check. You being unable to get a Mortgage is irrelevant. It would be to do with how your mum got a mortgage she could not afford. If the mortgage was equal to or less than the rent then you are going to struggle to win any sort of argument I suspect.

In this particular case leaflets were distributed round the area and ads placed in local papers by the brokers. They then came to homes uninvited, if they knew you didn't own your home and persuaded you to pursue purchase - spouting property prices are reaching high levels, equity and investment opportunities etc. They would complete all the paperwork even recommending a specific solicitor etc.


Well mum was in receipt of full housing benefit so prior to mortgage was not actually paying housing costs.


In terms of winning the case - I suspect underhand tactics / fraud was committed by the broker because realistically how she got a mortgage (sub-prime) is anyone's guess. I am awaiting full mortgage application and file before pursuing.

dunstonh

That is interesting as cold calling on mortgages was banned at the time you say this mortgage was sold.

saverbuyer

I notice on your previous thread the details on the purchase are as follows

£65k valuation with £24k discount
41K purchase price

14k remortgage for home improvements

If the house is now worth 85k-90k what is the problem?

Looks like she has 30k-35k in equity. Did she remortgage up to 110k at some stage?

Again looking at previous posting history. Did your brother go on the mortgage in 2010 as planned and take the extra 30k as planned to pay off debts?

If he did, it looks like the house has been used as a cash machine and now try ti shout "mis-sold, mis-sold!!".

Amst

Game over, you won't get a reply from that surgical post!

Compensation culture personified.