Mis Sold Mortgage

[Angel58]

I've 3 secured loans on my property with my mortgage lender.

 

They are in arrears and I'm being charged 60 pound a month for this on each loan plus interest on this 60 pound and the interest on the loan.

 

Do I complain to my mortgage lender or go straight to the FSA?

 

or somewhere else?

 

I've been looking into my mortgage to see if it's been mis sold.

 

i was sold a remortgage prior to this I only had a secured loan on my property with my current mortgage lender.

 

They sent out a direct mail addressed to my husband and myself stating what this would be with figures if we moved the mortgage to them.

 

I did remortgage with them on a self certification mortgage there was monies released on the mortgage which covered some home improvements but they also said that I could pay off some loans so these were included too into the mortgage.

 

The illustrations states

 

'We recommend 'Having assessed your needs that you take out this mortgage.

They didn't discuss any other mortgages with me.

 

It was for 16yrs so it goes over retirement age mine to 64yrs and my husband 67 yrs.

 

It had an early redemption fee in the first 3 years.

 

The illustration on it states

'The terms of this Mortgage reflects past or present financial difficulties'

 

I did not or my husband have any financial difficulties back then.

 

I've been looking into this and seen that Mortgage lenders are not supposed to put people with unblemished credit files into the sub prime market.

 

I have been in touch with a solicitor because I was looking into suing them for professional negligence but the solicitor seemed to think it could of been mis sold.

 

I found a letter from The company they regonized that there was a possibiilty of this back in 2008/9.

 

I've been looking into my mortgage to see if it's been mis sold.

 

i was sold a remortgage

prior to this I only had a secured loan on my property with my current mortgage lender.

 

They sent out a direct mail addressed to my husband and myself stating what this would be with figures if we moved the mortgage to them

 

I'd bought my house on a right to buy from my council in 2004 but my mortgage was with someone else

.I remortgage with them on a self certification mortgage there was monies released on the mortgage which covered some home improvements but they also said that I could consolidate some loans so these were included too into the mortgage along with the completion/legal/other fees.

 

The illustrations states

'We recommend'Having assessed your needs that you take out this mortgage.

They didn't discuss any other mortgages with me.

It was for 16yrs so it goes over retirement age mine to 64yrs and my husband 67 yrs.

It had an early redemption fee in the first 3 years.

 

The illustration on it states

'The terms of this Mortgage reflects past or present financial difficulties

'I did not or my husband have any financial difficulties back then.

 

I've been looking into this and seen that Mortgage lenders are not supposed to put people with unblemished credit files into the sub prime market.

 

I have been in touch with a solicitor because I was looking into suing them for professional negligence but the solicitor seemed to think it could of been mis sold.

 

I found a letter from The company they regonised that there was a possibility of this back in 2008/9.

I 've requested all the info the company has on me some they say they don't have to give to me.

 

One piece of paper is the Analysis and Assessment of the person who sold it.

It's signed and dated by her but not counter signed by the company leader confirmation to state that it was appropriate.

 

The company also states that it alllows the person who sold the mortgage to self declare for myself and my husband the income.

 

I do not have a self certification certificate as I have for other secured loans with this company and I do not recall filling one in either.

 

The person who sold it just wanted bank statements

[steampowered]

You need to complain directly to the mortgage lender. When you have their final response, you can go to the Financial Ombudsman Service. If there are genuine grounds to bring a legal claim then you would be able to go to court but impossible to say without more details.

[bhall]

Hello Angel

 

As Steampowered has said, you need to complain to the lender first allowing them 8 weeks to respond or resolve your complaint. Once you have done that you can then complain to the FOS.

 

You have mentioned to the FSA, as these are secured loans - (2nd charge) and not a 1st charge mortgage, it is unlikely that they were regulated by the FSA. However, if there is a repayment agreement in place, you could refer to the FSA view that charges should not be applied whilst a repayment agreement is in place. The FOS should give it consideration on that basis.

[Angel58]

The mortgage lender told me that they wouldn't pursue me for these through the court as my property is with them and it would cost them more money.

[steampowered]

They won't pursue you for what?

 

If you want better advice then please give a lot more details about your situation.

[Angel58]

I've my mortgage with the same company which is in arrears the 3 secured loans are with the same company the loans have been in arrears for over 3 years.

 

They said that as the mortgage was with them if they took me to court they'd get the house and the loans would be paid if the house was sold

 

.I did go to court about the house but I'd complained about the handling of my mortgage account to the FSA so they couldn't go any further to get a possession order.

 

If I posted a copy of my secured loan agreement on here would anyone be able to see if anything is wrong with it.

 

Are you not allowed to do that?

 

I'd omit my name and mortgage lender.

[steampowered]

And what were the court proceedings about?

[Angel58]

They were for a possession order on the property.The Judge just said that it could be restored at a later date.I'm awaiting a final decision on my mortgage lenders approach to my mortgage account.It has got very complicated.

 

[ATTACH=CONFIG]43322[/ATTACH]

 

This is a secured loan agreement which I have with My Mortgage Lender.

Details state A:amount of credit £12.500.00 [email protected]% variable

A:interest Charges £26.158.20

B:Legal Fees £ 95.00

C:Broker Arrangement Fee £ 1.250.00

Total Charge for Credit A+B+C £27.503.20.interest [email protected]% variable

Is this correct?