Mis Sold interest only self certify mortgage

TrickyDicky101

minimike2 wrote: »

Of course they knew. They are lying because it didn't work out for them.

^^^ this. This exactly. "Interest-only" - it isn't tricky to understand is it? Every time one of these "mis-sold" IO borrowers claim "we intended to pay it off by downsizing" they are explicitly confirming they understood it was interest only and none of the capital would be paid off in the interim.

csgohan4

I'm glad the bank didn't budge , but surprised they gave them the time they had already before repo

dunstonh

They were not missold. They made a decision for a reason. The article confirms it. It just didnt pay off for them. The risk warnings on a mortgage (which have been set by the regulator since 2004 - before they borrowed) are there for good reason. Risk events are not there for fun.

They could also have protected themselves in the event of illness. Choices and consequences do not mean missale.

csgohan4

dunstonh wrote: »

They were not missold. They made a decision for a reason. The article confirms it. It just didnt pay off for them. The risk warnings on a mortgage (which have been set by the regulator since 2004 - before they borrowed) are there for good reason. Risk events are not there for fun.

They could also have protected themselves in the event of illness. Choices and consequences do not mean missale.

sadly how many I/O mortgage Missold threads have we seen over the year?

dunstonh

csgohan4 wrote: »

sadly how many I/O mortgage Missold threads have we seen over the year?

It just reflects the reality that some people spend more time researching and learning about their mobile phone than they do with their biggest or second biggest purchase in their life (pension being the other and that gets similar treatment).