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Mortgage Missold?

Bala99 · 2019-10-15 21:44:20

Started out thinking that I might be able to look into a particular mortgage we had which we were sure wasn’t calculated correctly. We have a credit showing on the account after the mortgage was paid off. We have queried it a couple of times and was told it wasn’t really there. Then started reading about missold interest…

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SonOf Posts: 2,631 Forumite

19 October 2019 at 4:36PM

Lover_of_Lycra wrote: »

Really? I thought lenders were still quite happily dishing out I/O mortgages in 2007 which is why it all went tits up the following year.

Yes they were. However, that was mainly for new borrowing or remortgaging existing interest only. To go from repayment mortgage to interest-only is highly unusual unless it was for affordability reasons or a specific reason.

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