mis sold mortgage

[Lawrence]

Has anyone had any experience with mis sold mortgages? I took out a 5 year interest only loan on my home to buy to enable me to buy another property. The loan on my property is coming to an end next year and I will have to leave it as I can't get another mortgage as I owe more on the property than it's current market value. Plus my credit rating has taken a nose dive during the past 2 years, so no chance of getting another mortgage.

When I took the mortgage the broker told me not to worry about it, as we could refinance again in a couple of years. Well...you know what happened to the mortgage products after 2008...they just disappeared never to return.

I am thinking that I could make a complaint to the Financial Ombudsman about the broker mis-selling me the mortgage. I am now 70 which mean, that taking the mortgage out in the first place was foolish, but then perhaps I was.

Any comments welcome.

[eggie]

who is your mortgage with, which bank?

[Lawrence]

who is your mortgage with, which bank?

The mortgage is with Halifax.

[Connor]

Hi

I have designed a mortgage audit process which will assess your mortgage for regulatory & statutory breaches by the Broker & Lender in your case. If you provide me with your contact details I will discuss the case with you. Based on the little information you have provided there are a number of issues which will require detailed examination.

[Lawrence]

Hi Connor, I sent you a PM with my contact details. Hope to hear from you soon.

[Lawrence]

Hi Connor, I sent you a PM with my contact details. Hope to hear from you soon.

Connor,

Still haven't had a reply!

Lawrence

[Lawrence]

Hi Connor, I sent you a PM with my contact details. Hope to hear from you soon.

Connor,

Still haven't had a reply!

Lawrence

Still no reply... Connor are you there?

[zarkie]

Has anyone had any experience with mis sold mortgages?

no, but the principle is the same as with any mortgage

question. will you have a roof over your head if you lose the 1st property ?

i.e do you have the 2nd property in your name?

it think the ideal scenario would be to make sure you have somewhere to live and call home.

n.b it is my view and experience through friends, relatives and myself that the ombudsman is a waste of time and only sucks the life and time out of oneself. mis-selling of PPI is being reclaimed because
1) the legal eagles are making a fortune
2) the banks agreed to return money if 'mis-sold' was used as a phrase rather than FRAUD and no bank would be sent to gaol.
3) i dont think you could describe what happened to yourself as 'mis-selling'

Your credit rating is shot?!?
well that means the banks hate you and are coming for everything

preparation is required fella.
forget the civil route ... the civil route will hand your ass on a plate to the banks

common law route, you have a fighting chance but you will need to check out

1215.org

[Lawrence]

Has anyone had any experience with mis sold mortgages?

no, but the principle is the same as with any mortgage

question. will you have a roof over your head if you lose the 1st property ?

i.e do you have the 2nd property in your name?

it think the ideal scenario would be to make sure you have somewhere to live and call home.

n.b it is my view and experience through friends, relatives and myself that the ombudsman is a waste of time and only sucks the life and time out of oneself. mis-selling of PPI is being reclaimed because
1) the legal eagles are making a fortune
2) the banks agreed to return money if 'mis-sold' was used as a phrase rather than FRAUD and no bank would be sent to gaol.
3) i dont think you could describe what happened to yourself as 'mis-selling'

Your credit rating is shot?!?
well that means the banks hate you and are coming for everything

preparation is required fella.
forget the civil route ... the civil route will hand your ass on a plate to the banks

common law route, you have a fighting chance but you will need to check out

1215.org

You may be right...

Common law (also known as case law or precedent) is law developed by judges through decisions of courts and similar tribunals (as opposed to statutes adopted through the legislative process or regulations issued by the executive branch).[1]

A "common law system" is a legal system that gives great precedential weight to common law,[2] on the principle that it is unfair to treat similar facts differently on different occasions.[3] The body of precedent is called "common law" and it binds future decisions. In cases where the parties disagree on what the law is, a common law court looks to past precedential decisions of relevant courts. If a similar dispute has been resolved in the past, the court is bound to follow the reasoning used in the prior decision (this principle is known as stare decisis). If, however, the court finds that the current dispute is
fundamentally distinct from all previous cases (called a "matter of first impression"), judges have the authority and duty to make law by creating precedent.[4] Thereafter, the new decision becomes precedent, and will bind future courts.

Looking for precedent...anyone know of any?

[zarkie]

right well thats something cut and pasted from the internet. Common Law is a bit more than that

1215.org

My immediate thought about all this mis-mortgage stuff you write is

you are 70
5 years ago you got re-mortgaged
were you working and if not how did you get passed to have a re-mortgage so close to your completion of mortgage?

i.e outstanding mortgage at 65??? re-mortgaged the outstanding mortgage??? job?

seems all wrong but thats civil rules and stuff/