Is it time to sue mortgages companies for mis-selling interest only mortgages?

[It's time]

march 2012 , DSD has no plans to inroduce MRS in northern Ireland . I'll keep looking into it tho , thanks Lea

[Lea_HTH]

I hadn't realised you were in NI. Sorry that's not available to you. You should see what else is available however, as mortgage miss-selling is extremely difficult to prove, and even if proved, the result is usually rescission, which means the money loaned originally has to be repaid.

 

Hope you are getting sufficient help to follow this through though - a good solicitor may be able to at least get an outcome that will allow you to stay in your home.

[It's time]

I've accepted ' its time ' to let go of the house, i have deprieved my children of a better / happier quality of life just to keep payments up on my mortgage every month , no joy for them to watch their mum struggle to buy food every week but if complaints & looking into a miss selling helps prevent this type of mess for others in the furture I have to see it thru .An issue is with 'intentionally homeless ' I need to tread careful if I am to get re housed with the local council . I would like to hand the keys over to Swift first & relieve the stress & worry but it's not as easy as that :-/

[Lea_HTH]

You'll almost certainly have to wait until the property is possessed if you want the local authority to rehouse you. I don't know what the housing situation is like in NI in relation to availability of properties, but you may find that even if you aren't found intentionally homeless, the lack of properties may mean they just assist you to find a private rental somewhere.

 

One way or the other because of the children you will receive help with rehousing, so try not to worry too much.

[rdm2006]

I've accepted ' its time ' to let go of the house' date=' i have deprieved my children of a better / happier quality of life just to keep payments up on my mortgage every month , no joy for them to watch their mum struggle to buy food every week but if complaints & looking into a miss selling helps prevent this type of mess for others in the furture I have to see it thru .An issue is with 'intentionally homeless ' I need to tread careful if I am to get re housed with the local council . I would like to hand the keys over to Swift first & relieve the stress & worry but it's not as easy as that :-/[/quote']

 

Have you gone back to the council that you purchased it from, they may be willing to buy it back and let you rent it again.

 

I was originally going to do this but the MRS came out and we had to go down that route instead but they were willing to do it that way up until then.

it is worth trying................

 

I have also seen somewhere that the FSA is clamping down on missold mortgages so complain to them they may be able to help.

 

Selling a mortgage to someone on benefits should not be hard to prove as misselling

Edited December 16, 2012 by rdm2006