Recourse on poor mortgage advice?

robatwork

1) What do you have in writing regarding this advice?

2) Is it possible she was asked: "Are you planning any home improvements or have any large expenses coming up?" and answered "yes"?

iammumtoone

Can I ask why you are perusing this now, the mortgage is paid off, your Mother doesn't appear to be in financial difficulties due to it, so what is the point of going through the stress of complaint, what are you hoping to achieve?


I appreciate a lot of people complain as they don't want it to happen to anyone else but it is highly unlikely this situation would occur these days due to the fact the industry has moved on a lot in how it handles these situations.

Thrugelmir

Karlos1544 wrote: »

i don't know exactly how they justified that advice.

None of your subsequent posts given any indication as to the conversation that was had at the time. After 15 years I would suggest that any recollections that your mother now has are hazy and far from complete. Most people struggle to precisely remember a conversation from a few weeks ago let lone years. More so if at the time they are suffering from emotional distress. The advice given at the time could have been simply not to rush things.

Was the mortgage at the time a fixed rate product with an ERC? As you refer to a "period". The advice given may well have saved her money.