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jim grim

Can I Get A Refund ?

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hi to everyone and thx for any help you can give me,

i tried to purchase a property last year but the mortgage company took so long in approving the mortgage and didnt do a valuation on the property i intended to buy even though they charged £495 for the valuation they say they needed to do.

To cut a long story short they took about 6-8 weeks to put through the paperwork on our application when they had initially told us it would only be about 2 weeks until mortgage approval.

we had told their agant that we needed the application approved quickly as the seller needed the mortgage money to top up the money he was putting towards his new house in Bristol as his kids started new schools in september 2005.

We first went applied for the mortgage in early june and by mid august the seller pulled the plug and the sale collapsed because we had had no word on the application even though we phoned repeatedly, all we were told id it was being processed.

The company Mortgage Matters Direct that we apparently had been directed to by the agent we saw in the estate agents refuse point blank to refund the £495 as they say theres a no refund bit on the paperwork we signed applying for the mortgage.

Do we stand a good chance of getting this reversed in county court under the unfair contracts acts??

They never did any valuation and never approved the mortgage either .

Any help or advise appreciated..

Thx Jim G.

ive attached a url link to my copy of the signed document.


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There are probably two steps to follow.

1. Ensure that all of the banks internal complaint procedures have been completed. If you have not already done so, you should complain in writing, explaining the precise nature of your complaint and how you think it should be resolved (and why). The bank should publish a leaflet or similar explaining their complaints procedures, get a copy of this and follow it to the letter.

2. I think there is an external financial ombudsman, who will investigate complaints if you are still not happy with the mortgage company's treatment of your complaint. The banks leaflet should also explain about this.

Ensure that everything is in writing, there is no point phoning the company. Keep copies of all letters sent and responses. You might wish to ask the company to give you a response within two weeks, to speed things up and stop them ignoring your complaint. Ultimately if they ignore you it will look very bad for them further into the process.

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Jim, consult a solicitor and sue the bastards. All mortgage intermediaries need indemnity insurance to cover financial complaints or wrong advice. Every complaint HAS to be investigated. Contact both the Financial Services Authority and The Council of Mortgage Lenders. I'm sure they will be very interested. Their contact details can easily be found on Google.

As Young Goat says keep all paperwork. Any post should be sent recorded delivery. If you speak to anyone on the phone confirm their name and position in the company.

Good luck!

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
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      • up 5%

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