Was sold a mortgage many years ago and wanted some advice?

Hi and thank you for taking time to read my thread.

Basically, i was sold a mortgage many years ago, roughly around 7 years ago by a company called Mortgage Matters, what i thought was a good deal which turned out to cost me more than i expected. I signed into a mortgage deal which cost me around £2000+ to set up, payed all my insurance in a one lump sum and then away we went.

Was happy paying this mortgage until it came to switching after my 2 year deal had run out only to find i did not need to pay out the £2000+ and insurance to do so, i managed to get a new mortgage that cost me £250 instead. When i managed to sort this deal out i thought why did it cost me so much my last mortgage, basically, i got ripped off.

As the years have gone by, i shredded my old Mortgage Matters documents thinking i did not need them only to find out about these reclaiming ppi's and mortgage costs etc and thought i would love to try that out with my Mortgage Matters mortgage but can i actually do it with no paperwork? I am gutted as i keep my records but decided to shred these as i had them for so long, as soon as i did, a couple of weeks later i noticed these reclaim places, doh!!!!!!!

Again, many thanks for your time and hope someone can help in my query.

Phil.

Replies

  • magpiecottagemagpiecottage
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    No enough information to say.

    According to the FSA Register, there are, or have been 63 firms that used that name in one form or another.

    We would need to know which one it was and when the advice was given.

    It is also not clear that this was a PPI premium rather than, say, a Mortgage Indemnity Guarantee.
  • dunstonhdunstonh Forumite
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    People generally buy mortgages rather than being sold them. i.e. you have to want to have a mortgage.
    As the years have gone by, i shredded my old Mortgage Matters documents thinking i did not need them only to find out about these reclaiming ppi's and mortgage costs etc a

    There is nothing on reclaiming mortgage costs. So, forget that one.

    The issues on PPI relate mainly to single premium MPPI or where you are not eligible for the policy or have no financial need. If you are paying monthly premiums to MPPI then it has a much lower complaint success than loan/credit card PPI. If it was single premium MPPI and added to mortgage then that is a mis-sale.

    You put your complaint to mortgage matters about the PPI. Its too late to complain about fees as you agreed to them when you took the mortgage out. yes they charged a lot but its no different to getting say three quotes in from builders and one is £5000, one is £8000 and another £18,000. If you go with the one that charges £18000 you cant complain that you didnt pick the £8000 later.

    You dont need paperwork. The broker has to sort it.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Many thanks for that information,

    Wish i could tell you more about the company, going to try and look for some more information tonight but atleast i know i can not reclaim my money to set up the mortgage but maybe able to claim for the ppi that i had to get with them. Something to think about and many thanks.
  • banks4ubanks4u Forumite
    526 Posts
    Yes complain. You will win
  • magpiecottagemagpiecottage
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    banks4u wrote: »
    Yes complain. You will win
    On what do you base that assertion?
  • sounds a bit like "build it and they will come" :-)
  • banks4u wrote: »
    Yes complain. You will win

    Wow, what an informative post.
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