Repossession and standing outside bank!

[BornThisWay]

Just reading throught yur post quickly Mr P I think the bit about the mortgage not being regulated is nonsense.

 

 

You have every right to take your complaint to the Financial Ombudsman Service.

 

 

However it is hard to see how you could 'miss' the fact that the mortgage company had not taken your payment for six months, and also what happened to the dozens of letters you would have had from them threatening repossession?

 

 

If you genuinely received nothing then they are in breach of the rules but I know from my own experience that you are showered with paperwork when you are in arrears with your mortgage.

 

 

It costs nothing to take your complaint to the Ombudsman (HBOS will have to pay a fee to have the case investigated) go ahead and let them decide if it is a regulated product or not.

[BornThisWay]

Wow could anything be more complicated?

 

 

I have never heard of an advisor suggesting a BTL Self Cert mortgage to a first time buyer. It just sounds ludicrous.

 

 

Maybe your best course of action is mis-selling. BTL suggests a level of financial competence which, with respect, you clearly did not have at the time.

 

 

Since you had no intention of letting it out, and never checked for mail, I can see how the problem arose (although I would certainly notice if my mortgage payments were not going out of my bank account each month)!

 

 

Poking through all the chaos it seems to me that whoever sold you this loan led you down a path which has seen you make yourself unable to get another mortgage for years, if ever. It would certainly be worth making a complaint.

 

 

But as someone else said.........you hired a barrister to sort out an earlier problem, but represented yourself, without the paperwork at an eviction hearing? Sorry, but that is just madness!

[BornThisWay]

To be fair the mis-selling is not the fault of the bank. They simply provide a product which a customer uses, or not, as the case may be.

 

 

The mis-selling case would be against the broker who recommended the product (I think I read earlier that you used a broker?).

 

 

Can I ask why you bought the house in the first place if it was not to live in and not to rent out? Not many students are able to buy a house until years after their studies have finished and their income permits it. I think whoever advised you would have been doing you much more of a service if he had told you to go away and come back in a few years! But then he would not have earned a fat fee in that case!