Can you claim for "Mis-sold Mortgage Equity"

[bluenose33]

Evening all,
Plese could anybody help....... My Grandad took out a mortgage equity deal when he was 65,he is now 87. It worked out he got roughly £60k which was roughly one third of the value of his home at the time,having looked at his paperwork recently he is being charged £800 per month,so will effectively come out of his house sale with nothing. He actually never knew the fees would be anything like
what has been stated,we feel he has been missold and the fees are way out of proportion. I believe the company involved is "mortgage express" possibly through Bradford & Bingley.
Any advice on this or people/companys who could help with this would be so appreciated.

[MIKE770]

Equity release? you mean???

[MIKE770]

Bradford & Bingley / Mortgage Express,
PO Box 629,
DURHAM,
DH1 9J

Making a Complaint


We recognise that we don't always get things right and we have a formal complaints procedure in place to try and resolve issues for you. We aim to deal with complaints as quickly as possible whilst making sure that we treat customers fairly.

You can register your complaint in the following ways:

For mortgage related complaints: Call us on 0330 159 2590* Lines are open between 8.30am and 6pm Monday-Friday For all other complaints: Call us on 0330 332 3009** or 0800 001 5262** Lines are open between 9am and 5pm Monday to Friday **Calls may be recorded for monitoring and training purposes. Charges for calling 03 numbers are the same as for calls made to standard UK landline phone numbers starting 01 or 02 and are also included in bundled minutes and unlimited call packages.

[MIKE770]

If writing send Recorded Delivery to the full address below not a POST OFFICE BOX Number:-

Bradford & Bingley plc and Mortgage Express. Registered office: Croft Road, Crossflatts, Bingley, West Yorkshire, BD16 2UA. Bradford & Bingley plc (Company No. 3938288) and Mortgage Express (Company No. 2405490) are both Registered in England and Wales and are authorised and regulated by the Financial Conduct Authority (FCA). Bradford & Bingley plc FCA Reg. No. 106126. Mortgage Express FCA Reg. No. 305572.

Bradford & Bingley plc and Mortgage Express are part of the UK Asset Resolution Limited group.

[MIKE770]

sure better qualified people will be along soon:-

[bluenose33]

Yes equity release scheme is what I meantbthanks!!

[MIKE770]

Amethyst

[Amethyst]

Is he actually paying £800 a month or is that what the bill is increasing by each month ? £800 a month seems excessive for, basically, a £60 k loan, particularly after 22 years.

Does he have the paperwork ?

First step really is to get hold of the paperwork - a SAR should get it. http://legalbeagles.info/library/gui...ccess-request/

[bluenose33]

He is going to be billed this either upon death, or when he moves into a care home which is about to happen. But it is £800 per month until the house now sells.
And yes I think I can get all the paperwork together this week

[MIKE770]

First step really is to get hold of the paperwork - a SAR should get it. http://legalbeagles.info/library/gui...ccess-request/ have you done this?? as Ame suggest