Bank Issue

paula284

It turns out that I can’t complain to the financial ombudsman regarding my mortgage account unless all names on the mortgage sign the complaint. Even if it’s clear to them that there’s a valid complaint and it’s against the others interest to persue a complaint. Any ideas on how to progress?

chris85

I presume this is as the FSO will need consent to view financial information on account holders. It would be a data protection violation for FSO to be able to review account information on someone who has not provided their consent. More to this story so I would suggest sort this out with other account holder.

paula284

As I said, its not in the other mortgage holders interest to sort out anything. The other account holders info is not necessary. The complaint is in relation to the bank removing the property as security and treating the then, mortgage, as an unsecured loan.

daheff

paula284 wrote: »

As I said, its not in the other mortgage holders interest to sort out anything. The other account holders info is not necessary. The complaint is in relation to the bank removing the property as security and treating the then, mortgage, as an unsecured loan.

Wouldnt the bank need all parties (inc your)agreement to make this change? Sounds like a job for your solicitor rather than the regulator?

Hard to tell100% without more facts though.
But if its an unsecured loan at the same rates then how are you affected negatively?

NewbridgeIR

The bank released the security without the mortgage / loan being repaid?

paula284

Bingo!

hanaimai

Is it that the value of the house wasn't enough to clear the mortgage in full? If so you are still liable for the remaining debt.

NewbridgeIR

Have you exhausted the bank's internal complaints process?

daheff

NewbridgeIR wrote: »

The bank released the security without the mortgage / loan being repaid?

paula284 wrote: »

Bingo!

How is this a problem for you?