MIS-SOLD LOAN??! 😡

robber2

so about a days work then ?

lordmountararat

That's not quite true we have just had a probate done and the total charge by the solicitor was less than £2300

It's even cheaper if you do it yourself. I have executed three probates now and with the government forms it is easy enough if you take your time and work through the forms logically. Of course you might need a solicitor if there are complications such as trusts or foreign property.

DebandTom

Thanks everyone. I am handling the estate myself...with 33 years experience as a Civil Servant why wouldn't I? 😁 Form filling is a breeze for me and I know a little about money.

There will be an estate worth around £150k after all debts are settled. I'm just so angry that she was allowed to borrow that much. It probably is not worth pursuing, as you say after so much time. It is good to know that as executor I could act on any claims on her behalf should they arise.

John_

DebandTom said:

Thanks everyone. I am handling the estate myself...with 33 years experience as a Civil Servant why wouldn't I? 😁 Form filling is a breeze for me and I know a little about money.

There will be an estate worth around £150k after all debts are settled. I'm just so angry that she was allowed to borrow that much. It probably is not worth pursuing, as you say after so much time. It is good to know that as executor I could act on any claims on her behalf should they arise.

Why are you angry? She got money to spend on what she wanted, and never had to pay it back; it was in effect a cheap equity release product.

foxy-stoat

If she defaulted on her mortgage 11 years ago (before she took out the loan) and she put down that her only income was benefits then the lender should have a quiet word with their underwriting department.

jonesMUFCforever

I don't think we have had even half the story here

dunstonh

Nothing said in post 1 even hints of missale.   It just looks like someone jumping to conclusions which are probably incorrect based on a very limited amount of information.  Unless the borrower was not of sound mind at the time of applying, any attempt 11 years after the event to complain about missale are likely to be futile.  

For example, what happened to the money from the loan?  The borrower may have used it to repay more expensive debts. They have used it to fund a lifestyle they could not afford (but made them happy for the remaining part of their life).  The only ones to lose out in that scenario are the potential beneficiaries of the estate by getting less than they thought they would get.  And that could be the driver here rather than a genuine missale.

So, in other words, there is insufficient information to say and until that information is known, nobody can say anything that is helpful.

On the PPI front, most banks had stopped retailing by the time this loan was purchased.  So, it is unlikely it exists even before the deadline for complaint is considered.