Mortgage Complaint - Private recording, can I share transcript and/or audio with the FOS?

plays

read the last page, even the ombudsman couldn't disagree or answer why they didn't secure the rate for me...but instead insisted that I wanted to pay the product fee as part of the loan, bank statement showed @129k in the bank

I spotted the ombudsmans copying and pasting word for word a lot of things about having to pay for furniture, decorations etc..whole paragraph on that

ACG

plays said:

ulcerative colitis since 2017

removal of the bowel last year

yeah something doesn't feel right

I do a lot of compliance for vulnerable customers probably far more than most firms because of the type of business I do, I need to make sure my files are spot on. 

Appreciate in your situation you and the broker classed you as vulnerable which is "good" in the sense it means they should have been going the extra mile for you. But what I was saying was that your medical notes would never make it to the broker and the FOS notes would have been after your complaint was made. 

As I said, I am not defending the broker and I am not saying you are wrong. I am just saying that I believe your version is not the full version. If someone made a complaint to me and I had messed up I would not in a million years be forging information and doubling down with the FOS getting involved. They can stop you trading. Why would a firm risk that for £2,400? 

There is a saying, dont throw good money after bad. If you want to go to small claims, thats fine and your prerogative but just take a step back first and have a look at things with an open mind. I am saying that for your benefit. 

plays

broker didn't class me as vulnerable
I couldn't get covered for protection with L&G because of this which they knew about 
I have worked in finance since 2012, including compliance, I know a lot of the processes that must be adhered to, and the ombudsman skipped over clear FCA rules as well as MCOB rules



The ombudsman also emailed me in June when in hospital after my second major op, and since his name is on public record, you can see he was the lead spokesperson for the FOS at a major public event

plays

Emailed back in March informing the Ombudsman of impending surgery in June

No response. Had to chase up with them weeks later to ask what was going on and why my case wasn't being prioritised.

Managed to submit my case two weeks prior to surgery and primary contact method on the phone.

Recoering from major surgery and severe complications, emailing me a detrimental decision and expected me to read the SIX pages with tubes in me and appeal my case within two weeks.

This is the same person giving a speech in may regarding vulnerale customers nad consumer duty.

To say that the Ombudsman is a great service is something I would not say, to put it politely 


oh, forgot to mention when the broker blamed Nationwide, I originally took the complaint against them, and guess what happened when I was in hospital then...emailed a detrimental decision


Can't say the FOS didn't have opportunities to learn their lessons 

feynman33

Lifes too short man, move on 

plays

feynman33 said:

Lifes too short man, move on 

moving on with the court case next year

ACG

plays said:

feynman33 said:

Lifes too short man, move on 

moving on with the court case next year

Really? 
With no clear contract and the FOS outcome in their back pocket I dont see how you can possibly win that. 

Best of luck. 

Sarsibob1

Reading the decision I feel really sorry for the broker here

From reading the judgement - you emailed them giving them property details for an accepted purchase 9 minutes before a rate change deadline. 

You want them to pay the difference between the rate you could have had had a mortgage application been submitted within that 9 minute timescale and the new amount plus the extra deposit you decided to pay to bring the rate down to the lower ltv plus additional money for the stress of this meaning it has exacerbated a health problem meaning you can't work. The difference was £40 a month but you seem to want that £40 a month x 60 months, the extra deposit paid, extra for stress and not being able to work and the 1k fee plus interest over the entire term of the mortgage - I can see why they aren't backing down.

I honestly can't see court will go in your favour. 

kingstreet

Sarsibob1 said:

Reading the decision I feel really sorry for the broker here

From reading the judgement - you emailed them giving them property details for an accepted purchase 9 minutes before a rate change deadline. 

You want them to pay the difference between the rate you could have had had a mortgage application been submitted within that 9 minute timescale and the new amount plus the extra deposit you decided to pay to bring the rate down to the lower ltv plus additional money for the stress of this meaning it has exacerbated a health problem meaning you can't work. The difference was £40 a month but you seem to want that £40 a month x 60 months, the extra deposit paid, extra for stress and not being able to work and the 1k fee plus interest over the entire term of the mortgage - I can see why they aren't backing down.

I honestly can't see court will go in your favour. 

Once you have an agreement in principle you can reserve a Nationwide product without submitting a full application. You have three months to move from reservation through full application to formal mortgage offer.

Sarsibob1

I guess the risk is though that if the broker reserves the rate in say May, client finds in say July then the broker has to get a mortgage offer out within the remainder of the 90 days timescale which could only be 4 weeks or so. At the point of aip the client doesn't have a house - the time taken to find one is a bit of a 'how long is a piece of string' situation. If say there is a short timescale then if that isn't managed (as at the time of rate increases lenders are busy, queries on underwriting or need an employers reference or no valuers etc) the client could then be in a worse position than if they had just reserved the rate at the point of application - in this case it was still around 2% fixed for 5 years. - this was in 2022 when rates started going up sharply. Had the client not got his mortgage offer within 90 days from aip then that would have probably been a bigger complaint as suddenly the rates available are 3% plus