FSCS complaint miss sold mortgage

Sazzle74

I am currently waiting on a complaint with FSCS for miss sold mortgage in 2008, was advised to non certify income and wasn’t referred to debt management the ombudsman has passed it to FSCS now the business is now not trading. This was interest only mortgage too and I don’t have enough time and bad credit to re mortgage. Any advice or experience with succes of complaints? Thanks

Thrugelmir

Every complaint differs. I assume that yours is against a mortgage broker rather than the lender. Whatever you were advised to do, possibly you knowingly lied. As a consequence you would have been party to the fraud.

Bermonia

Honestly expect very little, self-cert incoming is in essence collusion - very hard to claim you didn’t know what you were doing or why.

Even if FSCS were to find in your favour, what is it you are expecting them to do...?

dunstonh

The success rate on so-called missold interest only complaints is tiny. Where there have been successes, the outcome has not really favoured the person as the outcome is to look at the position would be had you rented. For most people, that means their property price has gone up in value and that is taken into account and if you are better off, you get a technical uphold decision but no redress.

One recently upheld case had the outcome that there would only be redress if the property was sold at market prices in the next 12 months and a loss over the purchase price and mortgage set up fees was to happen. i.e. no redress unless property sold and at a lower price than what it was bought for. If the person didn't want to sell, then no redress at all.

Blackbeard_of_Perranporth

Sazzle74 wrote: »

Hi I am currently going through. Complaint with Ombusman regarding TMMP over non certified mortgage & high charges. TMMP have replied with there own letter head stating they have stopped trading in that name but the letter states it is from there insurance department. I will see what happens next.

I don't think anything has changed in the last year over self cert mortgages.

sazzle1974

Thanks, but no never knowingly lied, taken advantage of for to get a large fee for selling me the mortgage yes.

sazzle1974

Thanks, it’s the Fscs that has written to me to claim, as they think from the paperwork I should have been referred to debt management. We will see how it go’s.

TadleyBaggie

Why are you posting from two different (but closely related) accounts?

sazzle1974

Because I’m not used to posting, is this an axceptable answer for you ? And do you have any advice ? Or is your comment about this only ?

John_G_Jones

sazzle1974 wrote: »

Thanks, but no never knowingly lied, taken advantage of for to get a large fee for selling me the mortgage yes.

So if you put down your genuine wage and the bank accepted it, and you then borrowed the money, what is the nature of your complaint, and why mention the self-certified part?

If your wage was honestly stated then you have little reason to complain. If it was not you were party to a fraud.

diggingdude

How much do you want?