more mortgage woes...

[davido140]

Futher to my last mortgage thread, also turns out I was mis-sold my bloody mortgage,

I was told that the £9000 early repayment fees only apply for the 3 year fixed period. Was told this clear as day by the broker that sold it to me.

Now turns out its for the full 20 year period, so if I do manage to get a remortgage elsewhere I'll have to shell out 9k for changing!!!!!

Where do I start complaining? the FSA ?? Mortgage company dont want to know, they have pretty much said "tough"

Cheers

[emicen]

davido140 said:

Futher to my last mortgage thread, also turns out I was mis-sold my bloody mortgage,

I was told that the £9000 early repayment fees only apply for the 3 year fixed period. Was told this clear as day by the broker that sold it to me.

Now turns out its for the full 20 year period, so if I do manage to get a remortgage elsewhere I'll have to shell out 9k for changing!!!!!

Where do I start complaining? the FSA ?? Mortgage company dont want to know, they have pretty much said "tough"

Cheers

Verbal contract isnt worth the paper it's written on. What does the key facts illustration say?

[Welshbeef]

davido140 said:

Futher to my last mortgage thread, also turns out I was mis-sold my bloody mortgage,

I was told that the £9000 early repayment fees only apply for the 3 year fixed period. Was told this clear as day by the broker that sold it to me.

Now turns out its for the full 20 year period, so if I do manage to get a remortgage elsewhere I'll have to shell out 9k for changing!!!!!

Where do I start complaining? the FSA ?? Mortgage company dont want to know, they have pretty much said "tough"

Cheers

Do you have it in the original paper work or did they just "tell you"/from their POV you thought they said that to you.

You need to think very hard about what to do - also is it a portable mortgage if so then its not restrictive if you want to more.

[davido140]

emicen said:

davido140 said:

Futher to my last mortgage thread, also turns out I was mis-sold my bloody mortgage,

I was told that the £9000 early repayment fees only apply for the 3 year fixed period. Was told this clear as day by the broker that sold it to me.

Now turns out its for the full 20 year period, so if I do manage to get a remortgage elsewhere I'll have to shell out 9k for changing!!!!!

Where do I start complaining? the FSA ?? Mortgage company dont want to know, they have pretty much said "tough"

Cheers

Verbal contract isnt worth the paper it's written on. What does the key facts illustration say?

Will dig out all the documents this evening and have a look.

I thought lieing salesmen selling financial products had been wiped out years ago by the FSA, apparently not.

[davido140]

Welshbeef said:

davido140 said:

Futher to my last mortgage thread, also turns out I was mis-sold my bloody mortgage,

I was told that the £9000 early repayment fees only apply for the 3 year fixed period. Was told this clear as day by the broker that sold it to me.

Now turns out its for the full 20 year period, so if I do manage to get a remortgage elsewhere I'll have to shell out 9k for changing!!!!!

Where do I start complaining? the FSA ?? Mortgage company dont want to know, they have pretty much said "tough"

Cheers

Do you have it in the original paper work or did they just "tell you"/from their POV you thought they said that to you.

You need to think very hard about what to do - also is it a portable mortgage if so then its not restrictive if you want to more.

defo not portable, they made that quite clear at the time too. I was fine with this as I just expected to remortgage in 3-4 years time when I wanted to move.

Even more annoying, just found out the broker that sold me the mortgage has gone bust!

grrrreat!

[emicen]

davido140 said:

emicen said:

davido140 said:

Futher to my last mortgage thread, also turns out I was mis-sold my bloody mortgage,

I was told that the £9000 early repayment fees only apply for the 3 year fixed period. Was told this clear as day by the broker that sold it to me.

Now turns out its for the full 20 year period, so if I do manage to get a remortgage elsewhere I'll have to shell out 9k for changing!!!!!

Where do I start complaining? the FSA ?? Mortgage company dont want to know, they have pretty much said "tough"

Cheers

Verbal contract isnt worth the paper it's written on. What does the key facts illustration say?

Will dig out all the documents this evening and have a look.

I thought lieing salesmen selling financial products had been wiped out years ago by the FSA, apparently not.

Well, from their view point it has been. You see, its all about "treating customers fairly"...

[as in, why put in place legislation when nice fuzzy terminology with no actual guidelines can be used]

In all seriousness, your mortgage advisor had to provide you with a key facts illustration which I believe should have such info on it. Failing that, the actual mortgage offer/contract will have the info in it. Mine certainly does.

Edited by emicen on Wednesday 17th September 11:10

[wargriff]

Sorry to be rude or sound grumpy, but do people not read anything before they sign it ?

If your entering into what is probably the largest commitment in your life, why did you not read the paperwork, and small print etc ?

I know I do...

[Vesuvius 996]

davido140 said:

Futher to my last mortgage thread, also turns out I was mis-sold my bloody mortgage,

I was told that the £9000 early repayment fees only apply for the 3 year fixed period. Was told this clear as day by the broker that sold it to me.

Now turns out its for the full 20 year period, so if I do manage to get a remortgage elsewhere I'll have to shell out 9k for changing!!!!!

Where do I start complaining? the FSA ?? Mortgage company dont want to know, they have pretty much said "tough"

Cheers

Sorry, did you not read the contract before you signed it?

There is a clause in there called an "Entire Agreement" clause. Which means that anything you're told verbally is not worth anything.


You'll have to suck it up, I'm afraid. Lesson learned.

Edited by Vesuvius 996 on Wednesday 17th September 11:40

[wargriff]

I know we are a blame culture at present, but it annoys me that if someone doesnt read the contract properly, or check the facts before signing they automatically look for someone to blame..

The mortgage adviser would of given you a lot of paperwork to read through, and your solicitor would probably of asked if you were happy to sign etc...

If you just signed without reading then you are an idiot in my opinion...

[Vesuvius 996]

wargriff said:

I know we are a blame culture at present, but it annoys me that if someone doesnt read the contract properly, or check the facts before signing they automatically look for someone to blame..

The mortgage adviser would of given you a lot of paperwork to read through, and your solicitor would probably of asked if you were happy to sign etc...

If you just signed without reading then you are an idiot in my opinion...

I'm guessing he didn't want to pay a solicitor, so he didn't have one.

As I said, expensive lesson. He could go after the Broker who lied to him, but it's impossible to prove and he's gone bust anyway.

Suck it up time mate. Your contract is with the mortgage company, and if you didn't read it it's your funeral, sorry.

Edited by Vesuvius 996 on Wednesday 17th September 11:52

[wargriff]

Vesuvius 996 said:

wargriff said:

I know we are a blame culture at present, but it annoys me that if someone doesnt read the contract properly, or check the facts before signing they automatically look for someone to blame..

The mortgage adviser would of given you a lot of paperwork to read through, and your solicitor would probably of asked if you were happy to sign etc...

If you just signed without reading then you are an idiot in my opinion...

I'm guessing he didn't want to pay a solicitor, so he didn't have one.

As I said, expensive lesson. He could go after the Broker who lied to him, but it's impossible to prove and he's gone bust anyway.

Suck it up time mate. Your contract is with the mortgage company, and if you didn't read it it's your funeral, sorry.

Edited by Vesuvius 996 on Wednesday 17th September 11:52

Problem is he will now keep shouting about mis-selling...and it probably was not the case..
If you are given an offer letter you would normally look at the details on it..
Maybe its just me that looks at the small print...and then reads what i sign...

this blaming the salesman st pisses me off, selective memory most of the time.

[BoRED S2upid]

Thats rediculous. Did you use a lawyer for this mortgage? if so and they didn't point out the £9k early repayment then sue the pants off them! if you didn't use a solicitor then your an idiot.

[PeetBee]

wargriff said:

Problem is he will now keep shouting about mis-selling...and it probably was not the case..
If you are given an offer letter you would normally look at the details on it..
Maybe its just me that looks at the small print...and then reads what i sign...

this blaming the salesman st pisses me off, selective memory most of the time.

But it's not small print on the KFI, the FSA don't allow that anymore!
What with TCF and Plain English the only way you can get in this situation is to not read the paperwork. Sorry.

[SJobson]

Vesuvius 996 said:

Your contract is with the mortgage company

Disclosed agent (the broker), misrepresentation? I would query whether there is an entire agreement clause in it; clearly that would be blatantly contrary to the facts anyway, since you only get the agreement to sign well after you've had all the basic details from the broker, on which you made the decision to enter into the contract...

[scotal]

davido140 said:

Futher to my last mortgage thread, also turns out I was mis-sold my bloody mortgage,

I was told that the £9000 early repayment fees only apply for the 3 year fixed period. Was told this clear as day by the broker that sold it to me.

Now turns out its for the full 20 year period, so if I do manage to get a remortgage elsewhere I'll have to shell out 9k for changing!!!!!

Where do I start complaining? the FSA ?? Mortgage company dont want to know, they have pretty much said "tough"

Cheers

Who the blazes is your mortgage with?

[Vesuvius 996]

SJobson said:

Vesuvius 996 said:

Your contract is with the mortgage company

Disclosed agent (the broker), misrepresentation? I would query whether there is an entire agreement clause in it; clearly that would be blatantly contrary to the facts anyway, since you only get the agreement to sign well after you've had all the basic details from the broker, on which you made the decision to enter into the contract...

You don't have a contract until you sign the mortgage contract with the provider.

This will exclude all prior representations anyway.


Suck it up.

[Vesuvius 996]

scotal said:

davido140 said:

Futher to my last mortgage thread, also turns out I was mis-sold my bloody mortgage,

I was told that the £9000 early repayment fees only apply for the 3 year fixed period. Was told this clear as day by the broker that sold it to me.

Now turns out its for the full 20 year period, so if I do manage to get a remortgage elsewhere I'll have to shell out 9k for changing!!!!!

Where do I start complaining? the FSA ?? Mortgage company dont want to know, they have pretty much said "tough"

Cheers

Who the blazes is your mortgage with?

[wargriff]

PeetBee said:

wargriff said:

Problem is he will now keep shouting about mis-selling...and it probably was not the case..
If you are given an offer letter you would normally look at the details on it..
Maybe its just me that looks at the small print...and then reads what i sign...

this blaming the salesman st pisses me off, selective memory most of the time.

But it's not small print on the KFI, the FSA don't allow that anymore!
What with TCF and Plain English the only way you can get in this situation is to not read the paperwork. Sorry.

Sorry, I realise its not all small print and the KFI is easy to read, I was making the point that the original poster seems like the sort of person who is happy to shout mis-selling, when he obviously didnt read jack st..

and having been on the end of complaining customers, who dont read the paperwork before signing and then claim mis-sell it pisses me off.

[scotal]

Vesuvius 996 said:

SJobson said:

Vesuvius 996 said:

Your contract is with the mortgage company

Disclosed agent (the broker), misrepresentation? I would query whether there is an entire agreement clause in it; clearly that would be blatantly contrary to the facts anyway, since you only get the agreement to sign well after you've had all the basic details from the broker, on which you made the decision to enter into the contract...

You don't have a contract until you sign the mortgage contract with the provider.

This will exclude all prior representations anyway.


Suck it up.

The FSA take the view that "if it aint written down, it didn't happen". The OP really needs to take a look at his mortgage documentation before he considers his next move.

[Vesuvius 996]

scotal said:

Vesuvius 996 said:

SJobson said:

Vesuvius 996 said:

Your contract is with the mortgage company

Disclosed agent (the broker), misrepresentation? I would query whether there is an entire agreement clause in it; clearly that would be blatantly contrary to the facts anyway, since you only get the agreement to sign well after you've had all the basic details from the broker, on which you made the decision to enter into the contract...

You don't have a contract until you sign the mortgage contract with the provider.

This will exclude all prior representations anyway.


Suck it up.

The FSA take the view that "if it aint written down, it didn't happen". The OP really should have taken a look at his mortgage documentation before he made any move.

EFA.