Mis-sold Mortgage Advice

Thrugelmir

Now that you are a little wiser. Focus your attention and energy on what you can do. You still have six years until the current mortgage term ends. Start to make inroads into the debt as make as you can. 
Would extending the mortgage term be an option at a later date? 
If you still have debt issues visit the Debt Free Wannabe board. 

minimike2

By my maths the mortgage was taken out post regulation, meaning you had all the documents at the time you bought the mortgage which will have explicitly stated that you would need to make provision to repay the balance at the end of the term. It is quite worrying that someone who was a police officer has the lack of integrity to "mis-remember" things to the point they are finger pointing and laying blame elsewhere, especially making out on a post that something has come as a suprise which has clearly been known about and ignored for a significant amount of time.
Sorry OP, this is not a mis-sell. Don't get drawn into the ambulance chaser firms who will tell you otherwise as you will simply get ripped off. You have already had suitable advice on what to do from others.

csgohan4

What part of 'Interest only' do you not understand about? Perhaps would have been reasonable to ask or clarify what this meant from the lender? 

blue_max_3

You must have had a great life living in a place without paying for it. I don't think a police officer is poorly paid, so what did you do with all that money?

D.L

Other responses are right but moving on from the mis-selling aspect and what you could've or should've done in the past...

I see in the old post that has been linked that you were in negative equity in 2011 (£135k value vs £163k loan). Presumably the interest-only debt is still the same. How much is the property worth now?

Coral80

Could anyone please help me????I am hitting brick walls after the ombudsman did not uphold my complaint.  My mortgage advisor gave me terrible advice and It has cost me £28,000 + I am a nurse and not from a financial background and single parent and really cannot afford to loose such a massive amount of money.  The mortgage company has completely lied to the ombudsman and they seem to have simply taken their word.  Could ANYONE advise me of ANYTHING i could possibly do now? I feel so so terrible at loosing this money and as a result suffering such financial hardship.  Can anyone recommend any no win no fee solicitors who would be prepared to look at my case or have any advice for me?? 
I would be very grateful for any advice 

davidmcn

Coral80 said:

Could anyone please help me????I am hitting brick walls after the ombudsman did not uphold my complaint.  My mortgage advisor gave me terrible advice and It has cost me £28,000 + I am a nurse and not from a financial background and single parent and really cannot afford to loose such a massive amount of money.  The mortgage company has completely lied to the ombudsman and they seem to have simply taken their word.  Could ANYONE advise me of ANYTHING i could possibly do now? I feel so so terrible at loosing this money and as a result suffering such financial hardship.  Can anyone recommend any no win no fee solicitors who would be prepared to look at my case or have any advice for me?? 
I would be very grateful for any advice 

Nobody's going to be able to give you any advice unless you give us a clue what the complaint is about. It would also be less confusing if you started your own thread rather than tag onto an old one.

foxy-stoat

Yeah start your own thread, how did you managed to loose £28,000 and why you think your mortgage lender lost it.  You will get some advice either way.

amnblog

You need to be careful here Dean.

There will be Solicitors out there that will offer to help you on a no win no fee basis. When your claim fails, as is likely, will you will find you have missed the small print and now owe the Solicitors for their time. A typical ruse is to have you sign up for insurance to cover your legal costs. The insurance will not pay and you will be left holding the baby.