Have I got a case?

Mattpy

Hi. So, I've just sold my house after my debts became unmanageable. I repaid my mortgage and my 2nd mortgage and I am now living in rental accommodation.

My query! In 2013 I took out a £25,000 second mortgage which at the time sat on my £82,000 main mortgage. The full market value of my property was £133,000, the basis upon which my second loan was given. However I only own 75% of a property, a max return of £99,750.The second mortgage therefore took me over my maximum loan to value by nearly 10%. I have struggled to make the payments in the past year and as a result have incurred significant charges. Upon selling my property I have paid back both mortgages, (the second mortgage having actually increased to £26,000) but have paid over the years £27,000 in interest and charges on the second mortgage.

Do I have a case here? Morally, I don't feel bad as Inhave paid back the original capital...

TIA!

[Deleted User]

Not sure what this has to do with insurance ?

What "case" are you referring to?

You took out mortgages you ultimately could not afford, but paid off what you owed with the proceeds of a house sale..

So what are you asking on the PPI board?

-taff

Did you tell them you only owned 75%?