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Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10409
Experience:  Barrister 17 years experience
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I was told by my bank my mortgage was ending in 2016 2 years

Resolved Question:

I was told by my bank my mortgage was ending in 2016 2 years ago I disputed this they insisted I have since sold my property to pay off mortgage now renting , and have found mortgage documents stating mortgage ends 2023 where do I stand legally. I have lost my home , profit in house, it has made my husband I'll through loosing home .
Submitted: 1 year ago.
Category: Law
Expert:  Nicola-mod replied 1 year ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Customer: replied 1 year ago.
I would like to wait for a answer but do not want to be tied into a contract each month . If you can assure me I can just pay a one off payment for one month of questions I will wait . If I cannot do it for one month I will cancel now
Best regards
Christine
Expert:  Buachaill replied 1 year ago.
1. Dear *****tine, can you better explain the situation. Was the mortgage an interest only mortgage or was it a repayment mortgage? How many years was the mortgage for at the outset? When did it start? How long did you make repayments for? Did you sell the property or did the bank force a sale? Whose names were on the mortgage? How much was owing on the mortgage when the bank forced a sale?
Customer: replied 1 year ago.
Good morning,
The mortgage was a offset mortgage for £46.000.00 pounds taken out 24th May 2004. To finish 1st June 2023. We had a additional £16.000.00 agreed on the same day. I paid 500.00 per month , and when needed could top up to the £46.000.00 at any time. The mortgage is in my name Christine ***** ***** and my husband Michael Miles Davis. each time I topped up the amount I asked if we still on line to finish the mortgage and was advised yes.
Then approximately 2-3 years ago I started getting annual statements to say must be repaid by 2015 I cannot find this statement . I queried this and spoke to a gentleman called Martin he advised mortgage was due to end 3/9/2016 I have a letter stating this . I disputed this saying mortgage finished when I retired but was advised no this is what was set up .
As I couldn't find any paperwork and the bank being so adamant I took this to be correct. I looked at remortgaging but could only do in my name due to my husbands age . He was approximately 63 then . My only option was to sell to repay the morgage as all the stress of maybe loosing our home because we couldn't settle was making my husband Ill with the stress and eventually last September he became very ill with stress. , this has I am sure contributed to him now having early onset Alzheimer's and a heart condition . He was fine before .We now live in rented accomodation paying more in rent than we did for the mortgage.
I have had to give up work to become his carer when we moved to Devon to be nearer our children so I can get some help.
Our Property was worth approximately £130.000.00 we sold for £112.000.000 we had a 3 bedroom detached and are now in a 2 bedroom terrace.. I took the option to respond by text as don't really want to discuss on the phone as my husband is always here with me and do not want to distress him.
I have a copy of the mortgage papers showing ending 2023and a statement showing mortgage to finish 2016
Please advise what legal steps I can take .
Best regards
***** *****
Customer: replied 1 year ago.
The outstanding mortgage paid in full was £47454.26
Regards ***** *****
Expert:  Buachaill replied 1 year ago.
2. Dear *****tine, I would advise you to speak to a solicitor and get legal proceedings issued to sue the bank for the loss suffered as a result of the mortgage being called in early. This is the most direct route. Additionally, or If you don't have the money to issue legal proceedings, you should make a claim to the Financial Ombudsman and seek redress for the mortgage being removed early. Go to www.financial-ombudsman.org.uk and make a complaint. YOu will have to send supporting documentation in connection with your claim. The financial ombudsman can direct compensation for your loss of mortgage. This is the most cost effective method of dealing with the issue.
3. Please RATE the Answer as unless you RATE the answer, your Expert receives none of the money you have paid this website so there is no incentive to answer any further questions.
Buachaill, Barrister
Category: Law
Satisfied Customers: 10409
Experience: Barrister 17 years experience
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