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    • Future Comms issues. Read more at https://www.consumeractiongroup.co.uk/topic/416504-future-comms-issues/
      • 3 replies
    • This is a bit of a lengthy one but I’ll summerise best as possible.
       
      THIS IS HOW THE PHONECALL WENT 
       
      I was contacted by future comms by phone, they stated that they could beat any phone contract I have , (I am a limited company but just myself that needs a business phone and I am the only worker) 
      I told future comms my deal, £110 per month with a phone and a virtual landline, they confirmed that they could beat that, £90 per month with a phone , virtual landline  they also confirmed they would pay Vodafone (previous provider) the termination fee. As I am in business, naturally I was open to making a deal. So we proceeded. 
      Future comms then revealed that the contract would be with PLAN.COM and the airtime would be provided by 02, I instantly told them that this would break the deal as I have poor 02 signal in the house where I live as my partner is on 02 and constantly complaining about bad signal
      the salesman assured me he would send a signal booster box out with the phone so I would have perfect signal.
      so far so good.....
      i then explained this is the only mobile phone I use for business and pleasure, so therefore I didn’t want any disconnection time in the slightest between the switchover from Vodafone to 02
      the salesman then confirmed that the existing phone would only be disconnected once the new phone was switched on.
      so far so good....
      • 14 replies
    • A shocking story of domestic and economic abuse compounded by @BarclaysUKHelp ‏ bank complicity – coming soon @A_Gentle_Woman. Read more at https://www.consumeractiongroup.co.uk/topic/415737-a-shocking-story-of-domestic-and-economic-abuse-compounded-by-barclaysukhelp-%E2%80%8F-bank-complicity-%E2%80%93-coming-soon-a_gentle_woman/
      • 0 replies
    • The FSA has announced large fines against DB UK Bank Limited (trading as DB Mortgages) - DeutscheBank and also against Redstone for their unfair treatment of their customers.
      Please see the links below for summaries and full details from the FSA website.
      It is now completely clear that any arrears charges which exceed actual administrative costs are unfair and therefore unlawful.
      Furthemore, irresponsible lending practices are also unfair and unlawful.
      Additionally there are other unfair practices including unarranged counsellor visits - even if they have been attempted.
      You are entitled to refuse counsellor visits and not incur any charges.
      Any charges for counsellor visits must not seek to make profits. The cost of the visits must be passed on to you at cost price.
      We are hearing stories of people being charged for counsellor visits for which there is no evidence that they were even attempted.
      It is clear that some mortgage lenders are trying to cheat you out of your money.
      You should ascertain how much has been taken from you and claim it back. The chances of winning are better than 90%. It is highly likely that the lender will attempt to avoid court action and offer you back your money.
      However, you should ensure that you receive a proper rate of interest and this means that you should be seeking at least restitutionary damages - which would be much higher than the statutory 8%.
      Furthermore, you should assess whether the paying of demands for unlawful excessive charges has also out you further into arrears and if this has caused you further penalties in terms of extra interest or any other prejudice. This should be claimed as well.
      If excessive unlawful charges have resulted in your credit file being affected, then you should take this into account also when working out exactly what you want by way of remedy from the lender.
      You should consult others on these forums when considering any offer.
      You must not make any complaint through the Ombudsman. your time will be wasted, you will wait up to 2 yrs and there will be a minimal 8% award of interest and no account will be taken of any other damage you have suffered.
      You must make your complaint through the County Court for a rapid and effective remedy.

      http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/120.shtml
      http://www.fsa.gov.uk/pubs/final/redstone.pdf
      http://www.fsa.gov.uk/pubs/final/db_uk.pdf
       
      http://www.fsa.gov.uk/pages/consumerinformation/firmnews/2011/db_mortgages.shtml
      Do you have a mortage arears claim to make? Then post your story on the forum here
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Hestia10

Interest Only Mortgage Ending - Can't repay capital - Anyone know what Nationwide will do

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Hi, Does anyone know what Nationwide is likely to do in our situation please?

 

Wife is 16 years older than me so we had a 10 year self cert mortgage taking her to age 65 originally through Derbyshire/Salt and now taken over with Nationwide.

 

About 12 months ago we rang Nationwide after receiving a standard letter re repaying the loan at the end of the mortgage term. The friendly but extremely unhelpful call center guide was only interested in referring us to an independent mortgage advisor when asking about options and whether we could extend the term as they couldn't give advice and there were NO options on Nationwide doing some sort of deal or changing the mortgage.

 

There wasn't much point in talking to a broker as my business went south in 2009 and we have wobbly credit, can't prove income to service the loan now although have no arrears or ever been in arrears.

 

Instead we have been trying to sell the property - £255000 mortgage and 2 local estate agents started us at £395,000 now down to £340,000 and only 3 viewings in a year!

 

I have been trying to understand 'Forebearance' but can't find any examples of any lenders being helpful to customers when they can't afford repayment.

 

All we want to do is to continue actively trying to sell it while paying interest only rather than have it repossessed and forced sold.

 

Does anyone know what is 'likely' to happen - particulalrly where Nationwide are involved? Any thoughts or advice would be really appreciated.

 

Wife was just going to leave today she is getting so upset.

 

We have until Feb for the mortgage term to end although haven't received any notices about the mortgage since last year.

 

Thanks

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Nationwide could foreclose and sell at Auction, leaving you liable for any difference,

or you could lower your asking price for a quick sale, it appears you have £90K buffer.

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Hi, Thanks for the reply.

 

Yes, I appreciate that they can foreclose and we have been dropping the price. We understand that ultimately something is better than nothing/a debt if they sell for less than the mortgage but it still hurts to hemorrhage the only bit of money we have and you always have to negotiate a sale anyway.

 

Does anyone have any experience of what they do in practice? Might they extend the term or allow a period longer to sell on the market? Even if we dropped to €250000 and invited bids it would take longer than we currently have!

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No point asking us, ASK a Nationwide Manager! Every case is different.

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Inevitably that will happen - just trying not to pre-empt action by them

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Try talking to an independent mortgage broker - the good ones usually know what the options might be


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My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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Thank you Ell-enn

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First have a read of the following

 

Nationwide will most certainly have to allow you a period to sell your property about 2 years would be seen as reasonable

 

Several banks including are introducing new mortgage schemes to help in your situation

 

https://www.fca.org.uk/news/press-releases/fca-publishes-findings-review-interest-only-mortgages-and-reaches-agreement

 

https://www.fca.org.uk/publication/finalised-guidance/fg13-07.pdf

Edited by Andyorch
Links corrected

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Any help I am able to give is from my own experience only. Should you have any doubt you should contact a qualified professional.

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Wow I didn't know that! That would be fantastic! Thank you so much - will read on!

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