I am not quite sure which section to post this in so admin can move it if it should belong somewhere else. I own a residential property with a small mortgage on it of around 18k. Myself and my partner wish to buy a new home for us to live in and let out the existing property. I have one default on my credit file which I am currently fighting to have removed (legal proceedings issued). After receiving a rejection from an online mortgage provider due to "adverse credit" I went to my local bank who I have banked with for over 20 years to explain the situation, I need two mortgage products, a buy-to-let for my existing property of around 25k to release 7k to go towards a deposit on the new home, a joint residential mortgage for my partner and I. The bank phoned me today and said that it was not possible for me to release equity from an existing property to be used as a deposit on a new home. I queried this saying that I never heard anything like this and asked if I could release equity for a deposit on another buy-to-let and they said YES. I really do not understand their stance and I would welcome advise from CAG members - is this standard practise or is someone at my bank clueless? I really do not see why they would allow equity release to go towards a BTL but not a new home. Also, because my mortgage on the existing home is so low at 18k, I NEED to take some equity out for a re-mortgage as most providers will not provide a mortgage for under 25k. I feel stuck at present - any advice most welcome.

Hi All, I am having a nightmare with my previous LL. We have completed all of our contractual requirements. Inventories were carried out at the start and end of the tenancy by an estate agent. (The estate agent were not managing the property but were hired by the LL to find nd vet new tenants). The exit inventory states no issues with property and this has been passed to LL. The LL is refusing to authorise release of our deposit he has failed to give me a legal reason why. First of all he tried saying that we had 2 kids so there must have been some damage at the property (this is a joke as we have only just had our first child and he has just turned 3 months when we left) and wants £150 deduction from the deposit. He is now saying that he had to pay for an entry inventory and fees we need to pay for exit and other fees. The Estate agent did the exit FOC and I have had no other invoices. As he i seeing unreasonable and the deposit is protected with TDS I raised a dispute and submitted all my evidence. The LL then refused for TDS to adjudicate so they are now holding my deposit awaiting court action. I have served him with a notice before action letter and I am now preparing to go to court. My question is: I was going to submit my claim via the "Money claim online" website as this is cheaper but at the start it states not to be used if reclaiming a deposit that has been protected? Where do I go from here? can I continue the submission or do have to go another route? Many thanks in advance

Hello All I have a suggestion to ask about a sitaution I am in just now. i worked through an agency on a end client contract, the daily rate fixed had a content of retainer where a part of daily rate was to be retained by agency and would be invoiced on a pre agreed date. Now the problem is the contract wording, On the contract it is written 'XYZ% of the day rate will be held as a retainer which can be invoiced for in six monthly intervals, XYZ October 2012 and then........'' (actual contract wording) I have left (rather forced to leave) the contract in September 2012 and now when i invoiced the agency for retainer they came back to me saying that I would have been on contract for six months to qualify for retainer, where as no where on teh contract it is written as a criteria for claiming the retainer. I m in a fix as to what should i do to get my money back !!! the lady i was dealing with kept changing her defence for non payment in every other email first she said its is clearly mentioned in contract, when i asked where in particular teh clause is she couldnt tell (as it is not in contarct anywyas) then i asked her to give me the details of director as i want to conact them she said 'contractually the agency is not laible to pay me my retainer' with no proof and reference to any contract terms what so ever Questions 1) Does any one knows where to complaint against the agencies? like who regulates them and who is there ombudsman body? 2) Does the contract wording suggests anything like a qualifying criteria at all? 3) what legal action could be taken against employment agency under contracts law or any simialr law Thanls