Was i missold this morgage??

JimmyTheWig

Well, I'm glad he got the advice he came here for.

jammie*dodger

I know it's cr*p but at the end of the day nobody held a gun to your head and forced this upon you. You are a grown up now and you are ultimatley responsible for your own decisions.

Can you get out of this by selling the house? Maybe clear everything and start again with a clean slate so to speak?

I suspect you should make a complaint against the Advisor just so that the authorities are aware of his participation in this. If there are other compalints at least he may end up being disciplined for what he has done. Ultrimately though you signed the docs.

Rob.

Conrad

Powell

The bottom line here is you were hungry for more credit thinking it would somehow ease your short term finances but then quickly got back into difficult financial territory.

When you come to remortgage you will again present a very difficult case in that you want to persuade a lender you are a good risk and part of that judgement will come down to affordability. You might yet again find yourself having to exagerate and embelish the facts in order to pursuade an underwriter to allow the remo to go through.

In any event lenders are much more cautious now and unlikely to agree to lend unless they meet the 'responsible lending' test.

Seems to me the bottom line here is you overspend considering your income level.

You know I meet people all the time earning lots of dosh who have serious debt problems and people on low incomes who have savings! Its not what you earn, its the way you spend that counts.

The best advice is downsize and get rid of debt but most people in your shoes will say its impossible for a whole variety of reasons, so you makes your choice and must face the consequences.
Where do you want to be in 87600 hours time? (thats 10 years btw, but somehow hours makes it more immediate)

real1314

powellmic3 wrote: »

Cos theres buyers out there like the one i am just to get ___ cash, from dodgy mortgage places, my credit rating without the mortgage is fine, i know it isnt now.
Id rather sell and make money than rather go to a broker.
Cased closed, thankyou all

my changes in bold / underscore

Leon_W

Thats quite correct Conrad

Some of the worst affordability cases I see are where you would consider the husband and wife (for example) as relatively well off. Earning say £35k a piece and still absolutely brassick. Tarquins school fees, the 3 foreign holidays, the 3 cars, the heating bills, council tax. It all adds up.

The bottom line is we either chose to live within our means or we don't.

Dan_Collins_2

Cant believe that dood!

I think that him and his broker should go to jail and must not pass jail!

He was a fool to go with that advice, and is it advice? This type of case is the reason why we are in this position!