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TSB Mortgage - Shared ownership trap!
pashboy01
Posts: 8 Forumite
Hi,
so I’ve been devastated to learn that my remortgage to a 100% share has been declined at the final hurdle due to ‘ID checks’. We had a mortgage in principle approved up to £170k.
we wanted to borrow £140k to buy out the remaining share. I currently have a mortgage with tsb @ £68k for the 60% share. HOW CAN THEY DECLINE FOR ID CHECKS WHEN I HAVE A MORTGAGE WITH THEM!
I sent everything they needed. I’m remortgaging with my fiancé who has her own house. However this was all fine during the mortgage in principle & arranging the survey etc! I complained but they won’t tell me anything. So I’m going to the FCA! I had to pay for survey based on there mortgage in principle... which cost me £300. This was for the housing association. I had to do this to proceed formally! Why wouldn’t they do an if check with the mortgage in principle... it’s beggars belief! Please anyone do you have any advice!
so I’ve been devastated to learn that my remortgage to a 100% share has been declined at the final hurdle due to ‘ID checks’. We had a mortgage in principle approved up to £170k.
we wanted to borrow £140k to buy out the remaining share. I currently have a mortgage with tsb @ £68k for the 60% share. HOW CAN THEY DECLINE FOR ID CHECKS WHEN I HAVE A MORTGAGE WITH THEM!
I sent everything they needed. I’m remortgaging with my fiancé who has her own house. However this was all fine during the mortgage in principle & arranging the survey etc! I complained but they won’t tell me anything. So I’m going to the FCA! I had to pay for survey based on there mortgage in principle... which cost me £300. This was for the housing association. I had to do this to proceed formally! Why wouldn’t they do an if check with the mortgage in principle... it’s beggars belief! Please anyone do you have any advice!
0
Comments
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Exhaust the lender's complaints process then you can escalate to the FOS. The FCA doesn't handle consumer complaints.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.1
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Why have you failed ID checks?
Are you adding your partner to the mortgage?0 -
Rather than having a tantrum it would make sense to ascertain why you failed their ID checks first.0
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But I don’t understand how you can fail ID checks when I already have a mortgage with them. I have tried... And TSB won’t tell me anything... if it was me or my fiancé! Completely unhelpful. I assume it’s me because they only asked me for additional bank statements. Then declined right after. @penners324 yes they said I could escalate. Which I Will.0
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What is fiancee doing with her house ? Letting it out and you are both moving into the shared ownership house ?
Do you think TSB are suspicious over this ? Seems very bizarre not to get answers out of them.
Did you use a broker ? Im guessing not as you are already with them. Presuming you have early repayments and tied in ?If you get no joy from complaining - then perhaps remortgage the whole lot to a new lender but definitely go through a broker.0
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