Old mortgage mis-sold

steveyamy

I am trying to see if I can claim about being mis-sold a mortgage and/or anything else with the or on the mortgage.


We took our first mortgage out with Beacon home loans / Redstone mortgages 10 years ago, as first time buyers we were dealt a really bad mortgage but it got us on the property ladder, we never actually payed anything off our mortgage just paid interest, as soon as we could get out of it we did but really feeling like they mis-sold us the mortgage and god knows what they added onto the mortgage with out us knowing/being aware or even knowing what it was or if we needed it.


I would like to try and reclaim anything if I can, but I am sure they are no longer around and not sure who to contact to get this looked into. Has anyone used the same companies and made a successful claim ?


Any useful help and advice accepted

[Deleted User]

You'll need to come up with some kind of complaint reason why you feel it was mis sold.

There was nothing wrong with having an interest only mortgage.

What are these 'god knows what' bits you believe they added to the mortgage?

Bermonia

You also need to consider that the threshold for a ‘mis-sold’ mortgage is exceptionally higher, even when these cases are found in ones favour there is usually no redress payable as the only way to substantiate any potential loss would be to sell your home for a loss - please be very wary of the people on line or in the post that suggest you can get thousands back... they are the only ones that will be making money... from you.

AnotherJoe

You haven't mentioned what was bad about it. Specifically.
Strangely, you can't put "added god knows what" on a form and expect be treated seriously.
And they added "it" without your knowledge, do you actually know what "it" was now, which would enable you to know if you needed "it"?

dunstonh

we never actually payed anything off our mortgage just paid interest, as soon as we could get out of it we did but really feeling like they mis-sold us the mortgage and god knows what they added onto the mortgage with out us knowing/being aware or even knowing what it was or if we needed it.

You have 3 years to complain from being reasonably aware of an issue. That timebar clock can start ticking from when you repaid it.

You don't appear to have given any complaint reasons in your post. A bit of speculation but thats all.

Interest only pre-credit crunch is not normally a valid complaint reason unless you sold the house for less than you bought it for. Even then its not necessarily a complaint reason. However, if you didnt lose any money and gained on property value, then you are not worse off and you dont get a penny.

[Deleted User]

steveyamy wrote: »

we were dealt a really bad mortgage

That is hardly a valid "complaint" , you need to detail specifically what was wrong with it. The expense is not an issue.

steveyamy wrote: »

god knows what they added onto the mortgage w

If only "God knows" then you can hardly expect anyone else to know!
Good luck trying to progress this, but it sounds like you've fallen for Claim Company spiel.