Mortgage debacle - where to stop??

ACG

£450 does seem on the low side. A bank "lost" my bank account from online banking - I could only access it in branch. They gave me £500 as a goodwill gesture whilst they investigated it. 

I would maybe work out what the extra costs were incurred because of the extra interest/fees paid, at least then you can say this is how much out of pocket you are. Add on some money for the time dealing with all of this and then go back with that figure. To be honest, I would have expected a grand or 2, but without knowing all of the details it is difficult to say. 

When I worked in complaints for a bank, I always preferred it if someones complaint explained the problem, and told us what they wanted to rectify it. If I was thinking £500 in my head and they said £750, I would normally just go with it. By the time you consider the time spent going back and forth, the negative outlook on the bank (and in turn lost business), it was not worth arguing. If I was thinking £500 and they said £5,000 then there is obviously a big gap there. 

Thrugelmir

987turbo said:

.  We had a lot on balance transfer cards after building an extension and i ran out of juggle room. Was offered £1200 credit limit instead of the usual £20k.  Tried to go to a loan instead but offered 11.5% APR... Naivety bites!

There's no such thing as a usual £20k facility. The greater the amount of existing credit facilities the less you are likely to be offered. Lenders can see BT's and identify those that are juggling. 

987turbo

getmore4less said:

I am a little confused here

987turbo said:

Hi Guys,

First post - I knew we'd get here one day!  

I am looking for some advice, as I just don't know where to stop!

I will try to keep it as short as possible:

Four years ago, a flagship high street bank in the UK took me and my wifes names from our joint mortgage application, combined them by giving me her middle name, then deleted all record of my wife.

They then proceeded to set me up with a Sole Mortgage  some 11 x my net income and proceeded with their open banking obligations with the inevitable impact on my ability to refinance debt from that point.

I noticed this in December and have been seeking advice.  Solicitors (over the phone) said FOS route for contract breach and ICO for GDPR.  FOS were sent a pack yesterday after the standard complaint  process completed.  ICO will follow.

My niggle is though - then when I spoke to the FOS helpline, the chap on the phone said they probably won't seek to void the contract, only to put me back to where I was before the mistakes.  He mentioned court for breach of contract.

I guess my view is that trying to undo (and calculate) the impact this has had in four years (it's a lot) may be impossible, whereas IF it were a breach of contract, that would be more cut and dry?

Do I stop for now and let the FOS do their thing, or am I missing something important at this point?🤔

No one I ask has ever heard of anything like this so I thought of Moneysavingexpert.

(Hope this in the right place too)

🙏 Thanks guys,

JR

Was this a new application that you approved after they had messed up the names.
or
was the change made after you had accepted, during set up, then you just did not notice when the final paperwork came through or for 4 more years?

The Application was for a joint Mortgage for Mr and Mrs Joe Bloggs.  They started out writing to Mr J Bloggs and Mrs J Bloggs, The contract we signed had both our names on.

Then at some point in 2017, they started writing to Mr J Bloggs only.  I just didn't pick up on the fact that it didn't have two names on and connect the dots - i.e. that my mortgage company had decided to change my mortgage to a Sole Mortgage somehow - Guess I just wasn't looking for such a thing. It's not something I would have expected to be fair.
The other weird thing now that I think it through - is the Mortgage has never appeared on the wife's Credit Report - which means it was never set up correctly I think...  It also means she has no claim over our house I imagine!?
This really really should not happen!!

987turbo

Thrugelmir said:

987turbo said:

.  We had a lot on balance transfer cards after building an extension and i ran out of juggle room. Was offered £1200 credit limit instead of the usual £20k.  Tried to go to a loan instead but offered 11.5% APR... Naivety bites!

There's no such thing as a usual £20k facility. The greater the amount of existing credit facilities the less you are likely to be offered. Lenders can see BT's and identify those that are juggling. 

 "Lenders can see BT's" - not to mention ten x salary mortgages no doubt...

987turbo

ACG said:

£450 does seem on the low side. A bank "lost" my bank account from online banking - I could only access it in branch. They gave me £500 as a goodwill gesture whilst they investigated it. 

I would maybe work out what the extra costs were incurred because of the extra interest/fees paid, at least then you can say this is how much out of pocket you are. Add on some money for the time dealing with all of this and then go back with that figure. To be honest, I would have expected a grand or 2, but without knowing all of the details it is difficult to say. 

When I worked in complaints for a bank, I always preferred it if someones complaint explained the problem, and told us what they wanted to rectify it. If I was thinking £500 in my head and they said £750, I would normally just go with it. By the time you consider the time spent going back and forth, the negative outlook on the bank (and in turn lost business), it was not worth arguing. If I was thinking £500 and they said £5,000 then there is obviously a big gap there. 

I am thinking the same.  I have four clear examples to work with from the six months following the mistakes I think so i've just sent an SAR to one and the other three I can talk to the Ombudsman about when the time comes.  If I am honest, I took umbrage when they didn't get in touch at all during the complaints process - and then sent the final letter two days before the deadline - having missed the main point of my complaint.
They upheld the complaint - yes, but they don't know how, why or when this happened.  I've worked in Bank systems and know what audit trails exist.  They either didn't look or don't want to divulge what they found - or have accepted this will go to the FOS already?  I am not sure to be honest.
They also failed to acknowledge the impact adding 5 x salary in loans against someone's credit file can have...
We'll see. Thanks again ACG! :-)    

getmore4less

987turbo said:

getmore4less said:

I am a little confused here

987turbo said:

Hi Guys,

First post - I knew we'd get here one day!  

I am looking for some advice, as I just don't know where to stop!

I will try to keep it as short as possible:

Four years ago, a flagship high street bank in the UK took me and my wifes names from our joint mortgage application, combined them by giving me her middle name, then deleted all record of my wife.

They then proceeded to set me up with a Sole Mortgage  some 11 x my net income and proceeded with their open banking obligations with the inevitable impact on my ability to refinance debt from that point.

I noticed this in December and have been seeking advice.  Solicitors (over the phone) said FOS route for contract breach and ICO for GDPR.  FOS were sent a pack yesterday after the standard complaint  process completed.  ICO will follow.

My niggle is though - then when I spoke to the FOS helpline, the chap on the phone said they probably won't seek to void the contract, only to put me back to where I was before the mistakes.  He mentioned court for breach of contract.

I guess my view is that trying to undo (and calculate) the impact this has had in four years (it's a lot) may be impossible, whereas IF it were a breach of contract, that would be more cut and dry?

Do I stop for now and let the FOS do their thing, or am I missing something important at this point?🤔

No one I ask has ever heard of anything like this so I thought of Moneysavingexpert.

(Hope this in the right place too)

🙏 Thanks guys,

JR

Was this a new application that you approved after they had messed up the names.
or
was the change made after you had accepted, during set up, then you just did not notice when the final paperwork came through or for 4 more years?

The Application was for a joint Mortgage for Mr and Mrs Joe Bloggs.  They started out writing to Mr J Bloggs and Mrs J Bloggs, The contract we signed had both our names on.

Then at some point in 2017, they started writing to Mr J Bloggs only.  I just didn't pick up on the fact that it didn't have two names on and connect the dots - i.e. that my mortgage company had decided to change my mortgage to a Sole Mortgage somehow - Guess I just wasn't looking for such a thing. It's not something I would have expected to be fair.
The other weird thing now that I think it through - is the Mortgage has never appeared on the wife's Credit Report - which means it was never set up correctly I think...  It also means she has no claim over our house I imagine!?
This really really should not happen!!

 I can see that you might not have noticed that but as soon as you got credit issues checking reports would have show it up.

Check the land registry for the names on legal title  solicitor should have sent you that if not  or you can't find it  £3.

Not sure if the solicitor should have picked up there was something wrong. 

MWT

987turbo said:

...  It also means she has no claim over our house I imagine!?

This really really should not happen!!

You are confusing several separate things there.

If the house was purchased in joint names then she will be on the deeds, you can check that yourself for £3 at the Land Registry.

The mortgage documents were signed in both names, so she will be jointly liable with you for the mortgage.

All that has happened is that at some point the account names and credit reports got messed up...

987turbo

I think the lesson I will take away is to be less trusting - or more attentive maybe - when it comes to banks.

[Deleted User]

Mistakes happen. This is just a pretty big one.   The mortgage is running as agreed, the house is owned as agreed.  Its just a big admin mess that has got some linked problems. 

They will sort the admin out and compensate you accordingly 

Thrugelmir

987turbo said:

Thrugelmir said:

987turbo said:

.  We had a lot on balance transfer cards after building an extension and i ran out of juggle room. Was offered £1200 credit limit instead of the usual £20k.  Tried to go to a loan instead but offered 11.5% APR... Naivety bites!

There's no such thing as a usual £20k facility. The greater the amount of existing credit facilities the less you are likely to be offered. Lenders can see BT's and identify those that are juggling. 

 "Lenders can see BT's" - not to mention ten x salary mortgages no doubt...

Algorithms can soon process 72 months of detailed data and ascertain whether you meet the lenders risk profile. All promotional rate balances are now marked as such. Lenders can identify those juggling their finances.