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    The TMB, Challenor Investments and a Mis-sold Mortgage
    • #1
    • 8th Mar 09, 9:18 AM
    The TMB, Challenor Investments and a Mis-sold Mortgage 8th Mar 09 at 9:18 AM
    Bought a place through "challenor" in 2006 - they are now being investigated by the fraud squad thankfully - and I end up (via dodgy solicitors and mortgage brokers) with an 85% mortgage from the TMB.

    They used the "valuation" at the time as a purchase price and used the so called 15% discount I received as a "gifted deposit".

    No actual deposit was ever made. I got an apparent discount from 180,000 to 150,000 and the TMB lent me 150,000. SO - I have a 100% mortgage as they lent me 100% of the purchase price.

    Has anyone ever come accross these "gifted deposits" - "discounts" and dodgy "valuations" before?

    It's all in hand now as I've raised the complaint with the FOS and they are fully investigating it for me.

    There's more to it than that also - dodgy paperwork, no actual monies changing hands, AND the bank says that this was a re-mortgage application but they have no evidence of who actually owned it previous to my mortgage application.!!
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