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  • FIRST POST
    • lesjess
    • By lesjess 6th Feb 18, 1:35 PM
    • 1Posts
    • 0Thanks
    lesjess
    Mortgage help...
    • #1
    • 6th Feb 18, 1:35 PM
    Mortgage help... 6th Feb 18 at 1:35 PM
    Hi.. Looking for some advise in which direction to go. We took out a Endowment mortgage in 1994... In 2000 it was found in our favour that we had been mis-sold endowment because of my husband age. Not understanding what we should of done, we did nothing! Carried on paying Endowment & mortgage until 2005 when we got into financial difficulty. Couldn't afford to pay endowment so just left it sitting there & carried on with mortgage to keep a roof over our heads. 2017 we cashed in endowment to cover financial problems... In 14 months time we should of been paying off the interest only mortgage which is not going to happen. What i am trying to find out if we were mis-sold endowment does this not apply to the mortgage? Mis-sold mortgage which we have been paying for the last 24 years. We approached our mortgage lender a couple of years ago & was told they didn't arrange the mortgage which was done through a financial advisers in the estate agents where we were buying the property from. Help! do we now have to put our property on the market to cover the outstanding mortgage or look at re-mortgaging i'm nearly 65 my husband will be 67 this year. A lot will probably be thinking why have we left things so late... i ask myself that question everyday. Its called burying your head in the sand!!!!
Page 1
    • logan77
    • By logan77 6th Feb 18, 3:00 PM
    • 21 Posts
    • 6 Thanks
    logan77
    • #2
    • 6th Feb 18, 3:00 PM
    • #2
    • 6th Feb 18, 3:00 PM
    You are not the only one for this to happen to unfortunately. There is help and advice out there. A good starting point is a mortgage advisor to see if they can help remortgage in your current situation, that will depend on current work status and private pension. Next would be to ask citizens advice bureau about gaining any legal advice on your mis selling.

    The good thing is you have recognised the problem.
    I am a Mortgage and Life Insurance Advisor.

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
    • kingstreet
    • By kingstreet 6th Feb 18, 4:42 PM
    • 33,158 Posts
    • 17,900 Thanks
    kingstreet
    • #3
    • 6th Feb 18, 4:42 PM
    • #3
    • 6th Feb 18, 4:42 PM
    In 2000 it was found in our favour that we had been mis-sold endowment because of my husband age
    Originally posted by lesjess
    What was the outcome?

    Were you compensated?
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
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