Unregulated pre 2004 current mortgage

kingstreet

Just to clarify for future readers, this wasn't an "unregulated mortgage." It's simply the case that mortgage regulation didn't start until October 2004 so prior to that all mortgages were unregulated. This is best thought of as a "pre-regulation" mortgage.

As the OP has stated it doesn't benefits from FOS/FSCS oversight as this was voluntary for lenders on pre-regulation mortgages when regulation was introduced.

connor08

I have an interest only mortgage i was with engage credit same thing happened to me . I was then transfered to engage credit - I am stuck with them on a high SVR - As engage credit dont provide products because yourwith a closed book lender . when we got transfered to engage we asked them for a capital and repayment mortgage but they declined . i took them to the ombudsman the ombudsman decided that kensington was in breach of MCOB rulles and they told engage that they had to re work . the account get interest rates back back dated to 2021. so the mortgage was put on a fixed rate dated back to 2001 with a lowered interest rate of 2.28 percent and put on a fixed rate backdated to 2021. but was only on there for 12 months it ended December 2025 since then they have got my interest rates wrong charged me high svrs and as i am on 100%benefits its not very affordable they have messed up my credit file putting wrong entries in an reporting data early . I have tried 2 times to move away i have had 3 mortgage offers with barclays and natwest and engage has stopped me moving away now i am trying to move away again now its difficult finsig lenders when they dont expect benefits 

silvercar

connor08 said:

I have an interest only mortgage i was with engage credit same thing happened to me . I was then transfered to engage credit - I am stuck with them on a high SVR - As engage credit dont provide products because yourwith a closed book lender . when we got transfered to engage we asked them for a capital and repayment mortgage but they declined . i took them to the ombudsman the ombudsman decided that kensington was in breach of MCOB rulles and they told engage that they had to re work . the account get interest rates back back dated to 2021. so the mortgage was put on a fixed rate dated back to 2001 with a lowered interest rate of 2.28 percent and put on a fixed rate backdated to 2021. but was only on there for 12 months it ended December 2025 since then they have got my interest rates wrong charged me high svrs and as i am on 100%benefits its not very affordable they have messed up my credit file putting wrong entries in an reporting data early . I have tried 2 times to move away i have had 3 mortgage offers with barclays and natwest and engage has stopped me moving away now i am trying to move away again now its difficult finsig lenders when they dont expect benefits 

Some of your dates are confusing. eg we haven't reached December 2025 yet.

What happened to the overpayment when they followed the ombudsman ruling? 

It would be worth finding out why engage are blocking you from moving, otherwise it will keep happening.

Are you claiming SMI? if you are on benefits you may be eligible and that would help.