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JimLawyer
JimLawyer, Solicitor
Category: Property Law
Satisfied Customers: 16730
Experience:  Senior Associate Solicitor
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I have a problem with advice given on mortgage from

Customer Question

I have a problem with advice given on mortgage from repayment yo interest only which I have forwarded too the FCA ombudsman. They are saying that the matter is time barred. There are also untruths as to if I was present when the remortgage was discussed and arrange. I was not advised to take legal advice or given any of the correct documents as prescribed tby the FCA. Are you able to advise my position and are you able to discuss this with the ombudsman.
JA: Where are you? It matters because laws vary by location.
Customer: the uk
JA: What steps have you taken so far?
Customer: Just to the ombudsman, I contacted the bank who offered to pay me £200 and that the matter was time barred.
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: The re-mortgage was in 2010 and before that it was repayment with an end date of 2017Customer: Chat is completed
Submitted: 14 days ago.
Category: Property Law
Expert:  JimLawyer replied 14 days ago.

Hello, this is Jim and welcome to JustAnswer.

I am one of the legal experts on the site and I am a dual-qualified solicitor (UK & Republic of Ireland)

Thank you for the question, I am reviewing the details now and I will aim to resolve it as quickly as possible for you.

Expert:  JimLawyer replied 14 days ago.

Sorry to hear of the issue.

We can't speak to anyone for you i'm afraid as we are not a law firm. We are an internet forum and offer online Q&A information and guidance from a legal standpoint.

As for the matter being time-barred, a complaint by the mortgage provider would need to be referred to the Ombudsman within 6 months of the decision (https://www.financial-ombudsman.org.uk/consumers/expect/time-limits). Otherwise I would agree, access to the Ombudsman is time-barred.

However, you may be within time to pursue a claim for a mis-sold mortgage. The limitation period is either 6 years from the date fo the cause of action or 3 years from you date of knowledge. If you have missed the limitation period, you could still pursue it but if the bank raises limitation in their defence after being sued, you would have to apply to the court to extend the limitation period and it will only agree if there is a very good reason to do so.

For a claim, his would need to be through the courts unless you can agree terms wit the bank - which is not possible if they are only offering a token amount of £200.

They will know you have no lawyer hence the very low offer they have made to you.

I would recommend a law firm is instructed - preferably on a no win no fee agreement, so that you pay nothing up front.

Here are a few firms you could try :

1. https://www.quittance.co.uk/financial-mis-selling

2. https://www.clarkewillmott.com/legal-services/specialist-financial-mis-selling-solicitors/

3. https://edwardshoyle.co.uk/financial-mis-selling-claims

Expert:  JimLawyer replied 14 days ago.

I hope this helps

Expert:  JimLawyer replied 14 days ago.

It was a pleasure to assist you today and I hope this answers the question.

If you have any follow up questions or if you would like me to clarify anything I have said, please let me know and I will be happy to help.

Many thanks,

Jim


Expert:  JimLawyer replied 14 days ago.

Just a final note that if you would like to reconnect with me at a later date, simply add me as a favourite expert and you can then tag me in a question by typing @JimLawyer.

Thanks again,

Jim