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DownsizingDiva

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About DownsizingDiva

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  1. DownsizingDiva

    Mis-Sold Mortgage?

    I had a letter from the Nationwide complaints dept. saying basically they would give me £50 as a "gesture of goodwill". I wrote back and said "No thanks, I'd like the £1035 please". Heard nothing since, so have written a final letter to the department the complaints department (bear with me) said I could contact if I wasn't happy with their offer. I have advised them that if I don't receive the refund within 14 days I'll go via the Financial Ombudsman. I'm not giving up on this one yet!
  2. DownsizingDiva

    Mis-Sold Mortgage?

    Thanks! I shall update when I have some news.
  3. DownsizingDiva

    Mis-Sold Mortgage?

    Thanks for the advice - you seem to be very clued-up on these matters - have you been through the process yourself?
  4. DownsizingDiva

    Mis-Sold Mortgage?

    quick update: Wrote to their Complaints Department a month ago. Haven't had a reply. Have taken legal advice, and now going to write to the CEO, giving them 14 days to reply. If I still don't get a reply I will be taking it further via the Financial Ombudsman.
  5. DownsizingDiva

    Mis-Sold Mortgage?

    Thanks Tim - I'm going to contact their Head Office tomorrow.
  6. DownsizingDiva

    Mis-Sold Mortgage?

    Yes! Thanks for the advice. I shall take it further!
  7. Hope someone on here can give me a little advice. Late last year, I took out a mortgage with the Nationwide. During the initial interview with their "Mortgage Consultant" I was told that "If you choose this product, we pay your legal fees." I then asked "what exactly does that cover then?" and he replied "All you have to pay is the Stamp Duty and the extra cost of having a Homebuyers Survey as opposed to a basic mortgage valuation" I had to use their nominated Solicitors in order to get the deal, and the Solicitors asked for a £300 up front payment, which I duly paid, thinking Nationwide would reimburse me. Unfortunately, my first purchase fell through, and a few weeks later, I found another property and went back to the Nationwide and was assured I could still have their "free legal fees" mortgage. The purchase went through, and I paid their Solicitors another £735. To cut a very long story short, four months on, I have still not received any of this back. (The only costs Nationwide paid were £168 for conveyancing which they paid direct to the Solicitors). I have a very long trail of emails backwards and forwards between myself and the "Mortgage Consultant", in which he replies several times to assure me that he would chase the refund for me. However, after I sent him a very strongly worded email last week, he replied, referring me to the terms and conditions of the mortgage (which we went through very briefly during the initial discussion) which state that they will only pay for the conveyancing. (He categorically stated I would only have to pay the SDLT and extra survey fee as we went through this document). Had I known that I would have to pay the £1,035, I would have gone to another lender who was offering a better rate of interest at the time. I feel I've been mis-sold this mortgage and wondered if anyone on this forum has any advice on how I can take it further to try and get the £1035 back? Thanks in advance!
  8. DownsizingDiva

    How Will Qe Affect House Prices?

    The A**e hasn't fallen out of the bottom end of the market where I am - prices are holding very steady, unfortunately. It is the old "supply and demand" economics at play - very few folks are putting houses up for sale in a desirable area (i.e. commutable to London, good schools, nice coast/countryside, good jobs still available) so those that do go on the market are very sought-after and are commanding prices way in excess of 2007 prices. Sad, but VERY true.
  9. DownsizingDiva

    I Give Up

    Many economists are now suggesting that there will be no significant rise in interest rates until 2014 at the earliest. When I sold up in 2008 (through circumstance, not choice), I wasn't too worried about renting for a while. Had a sizeable chunk of equity (over £150K) to invest. I figured that the interest on that would more than cover rental payments, whilst I waited for property prices to fall to a more realistic level. Having "sat it out" now for nearly 3 years, and having paid out a HUGE amount in rental payments, and seen my equity eroded by savings rates of around 3-4% (albeit tax free in ISAs/Index Linked stuff), and living in a part of the south east where demand still outstrips supply on the desirable housing front thus keeping prices at around the 2006 level, I give up. I shall buy a house shortly. It does not make economical sense to remain in rented accommodation and wait any longer. I just wondered how many others are thinking the same? Who could have imagined that the feckless government and MPC could have gone to such lengths to bail out the over-indebted? Having never owed anything in my life (apart from a £35K mortgage on our first property nearly 20 years ago), and never lived beyond my means, it really does sicken me that it seems the only way to beat them is to join them.
  10. Just tuned in for a bit of Corrie - and heard the conversation between two characters (you'll have to forgive me here, not a regular viewer): Female character: (whose landlord has offered her first refusal to buy house she's renting): "I just don't think I can afford it" Male character: something along the lines of "well, don't get too despondent - house prices are coming down y'know".... Must be a few million viewers of this programme - obviously the Producer hasn't got a BTL empire!
  11. DownsizingDiva

    Estate Agents Putting Pressure On Sellers

    You are right, of course. Shame really. If only everyone could put a sensible value on their home and advertise it in the right place, AND be reasonable enough to deal with directly. So there remains a place in society for Estate Agents. Depressing, isn't it?
  12. DownsizingDiva

    Estate Agents Putting Pressure On Sellers

    I do hope so. It is about time that Rightmove dropped it's restrictive practice of only allowing EAs to advertise on there. Let the general public place adverts for their homes. Placing a value on a property is not rocket science. A house next door to my aunt (200 miles away) has just come onto the market. She asked me to guess what the asking price was. After giving me full details of the internal spec., I did a bit of research on the internet (took about half an hour) and came up with £225,000. Turns out the EA asking price is £220,000. I rest my case.
  13. DownsizingDiva

    Estate Agents Putting Pressure On Sellers

    Er... don't they already do that? Surely that's how they make their money???
  14. DownsizingDiva

    Estate Agents Putting Pressure On Sellers

    Don't know where you are, but in my area (Winchester area) any offer less than 10% of asking gets laughed at. (And properties being snapped up at full asking - so frustrating!)
  15. Unfortunately I do not think we are "entering the crash stage". So many on here have been predicting it for so long, but it just hasn't happened. It won't happen. Why? Because TPTB have too much invested in property. That's why. Also:- Interest rates won't rise this side of Christmas. Rates can't rise significantly for 2-3 years (the result of a major hike would be catastrophic) Supply (in the "desirable" areas) is being held back because folks are reluctant to gamble on moving. Where demand is greater than supply, prices will hold up The MSM are so heavily on the side of "House price rises = good, falls = bad"
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