Re-mortgage application forms query?

[di30]

Re: Re-mortgage application forms query?

Received a phone call from customer care C/G Lloyds, she was very nice, they said that the mortgage adviser had forwarded details of the income, as he was baffled about it, could not understand or come to a solution himself and he sent all relevent details of the mortgage application etc to the dept to get it looked into.

The lady said, they are looking into this as it maybe possibly incorrect details and if that is the case, they may decide to reduce the mortgage debt. The adviser did also confirm he told us at the meeting at the time of the application that we did not have to provide details of the income because of already being bank customers where they already have details of the income.

Before this I thought nothing of it and matter was closed, and it appears that they have opened this case between them, so shall see what happens now.

Oh and its the same lady who is dealing with the Term assurance matter as well lol.

[di30]

Re: Re-mortgage application forms query?

A letter in the post arrived this morning........




Mortgage Acc number ************

Dear Mr & Mrs

Thank you for contacting the branch (the mortgage adviser done that)
and for us bringing your concerns to our attention.
We want to hear from you if you have a complaint as it helps us understand what our customers are concerned about and how thy feel we can put things right.

Customer Services takes customer complaints seriously and we will contact you no later than six weeks from 20 March (that must have been the day the mortgage adviser passed on details).
We may need this long to carry out a thorough investigation, but we will make every effort to reply sooner.

I enclose our complaint leaflet which gives you details of our Internals Complaints Procedure and tells you how to handle your complaint.

We will deal with your concerns for as quickly as possible, but if you need to speak to us in the meantime, please telephone XXXXX XXXXXX or contact us at the above address.


Your sincerely

Customer Services Mortgages.

[di30]

Re: Re-mortgage application forms query?

Received a PPI questionnaire for this, I got in touch to inform them to close down the ref number because I have since heard from the correct dept dealing with the matter the mortgage adviser sent info to, or should have sent to lol.

[di30]

Re: Re-mortgage application forms query?

Letter update came through this morning.
They are still currently looking into this and it may be another 4 weeks before they come to a conclusion.

[di30]

Re: Re-mortgage application forms query?

Received letter this morning,

It appears that they are concerned of the sale of the mortgage and want to look into this further, this is in regards of the income matter at the time.

Apart from that, they now want us to complete a expenditure form to send with uptodate details of our current incomings and outgoings.

[mgfboy]

Re: Re-mortgage application forms query?

Received letter this morning,

It appears that they are concerned of the sale of the mortgage and want to look into this further, this is in regards of the income matter at the time.

Apart from that, they now want us to complete a expenditure form to send with uptodate details of our current incomings and outgoings.

This all sounds a bit strange are they now suggestiong that they shouldn't have granted the mortgage and on what basis are they asking for a new expenditure form???

[di30]

Re: Re-mortgage application forms query?

This all sounds a bit strange are they now suggestiong that they shouldn't have granted the mortgage and on what basis are they asking for a new expenditure form???

Here are some of the wordings from the letter......(to give you a bit more of an idea).



"Details have been passed to me to investigate and we pride ourselves on offering customer service of the highest standard and it is always disappointing when we fail to achieve this.
I note this matter was raised in earlier years of the mortgage, and I have completed my investigation and I do have some concerns regarding the application.

With a face to face meeting the mortgage arranger would discuss the lending and complete the mortgage application with the customer present.
The questions on the application form would be put to the customer and then completed by the arranger via computer and once done, this would be printed off and provided to the customer to read and check that the information noted is accurate.

The application form allows the seller to note that you are employed for example a office worker with an income, however the system does not allow them to note who your employer is and therefore you will find that for certain areas of the application form, there will be written elements.

Looking at the application form dated 21 May 2007, under the income section, your employment is noted as employed, skilled trades and this would have been noted on the system, and be entered by the arranger.
However, the name & address of your employer is then hand written and this can be done either by yourself or the arranger can ask you for the specific and hand write this on for you.

In regards of a new application form for new amount, we would not ask that you complete a new mortgage application form to reflect the lower lending amount, as this would just be noted as a change to your current request. The arranger would have discussed this with you and just and just confirms to us whether you are happy to proceed with the lower amount, and in this instance the arranger confirmed that the lending was to continue.

Turning to the income issues, and what you signed for, I note that the income was to be verified by the seller using the banking information held with Lloyds TSB. When your details and lending request are entered onto our systems, our lending policy is already built in and the system will tell the arranger whether we can agree on the lending or not and if further information is required to support the application.

In this instance, no income verification was required and therefore we would have no reason to review your bank accounts to check your income was correct.

Whilst I do have concerns, I can see that you had been in arrears as Mr ***** was out of work for a period of time, and we then consolidated the amount to the mortgage.
It appears that the arrears were due to an unemployment situation. However, to move this matter forward I would like the opportunity to see if we can assist you with the mortgage as it stands. In order to do so however, I would require an up to date income and expenditure form from you so that I can fully understand your present financial position.

I enclose the above document along with a pre-paid envelope and would ask that you return this along with evidence of your current income.
Once received, I can review and confirm our position with you.

I also note that when we reviewed your concerns when this was raised earlier, whilst we did explain our implications of signing the document, our investigation did not consider the affect of the application changes as a whole and I am sorry for this. I will of course consider this when reviewing your income information regarding a resolution for this matter".

[mgfboy]

Re: Re-mortgage application forms query?

be careful in my experience when a lender offers to help you, somehow you always seem to come of worse!!!!

[di30]

Re: Re-mortgage application forms query?

be careful in my experience when a lender offers to help you, somehow you always seem to come of worse!!!!

Yes i know, probably the easiest option on the plate for them I think lol.

Will not be jumping into this, will see what they come back with, to be honest I am still trying to get my head around this lol.

Will let you know.

[di30]

Re: Re-mortgage application forms query?

When we remortgaged in 2007, at the meeting in the branch, I had details of the income onhand, this was details of a p60 and details of other, tax credits etc. But the arranger insisted there was no need because they hold the details on the system (being a customer for a number of years).

There was no way I was earning £11K of benefits and hubby was not earning 28K work income either. (This part of the form were not disclosed to us) it was only when we received the paperwork of this we noted the income pre inked in, which we questioned, but was then just told we signed that all was read and understood.

Now as this form was pre completed, the arranger just went through everything else, name of employer and details of the house, valuation etc, then passed on the back page to sign to accept etc.

Yes, I agree we were so stupid to have not have asked to read though the full application, and admit being so laid back then too.

We contacted the bank a few months on to question of any copies of paperwork of the mortgage as we were told they would come through the post.
Later on they came through with a letter of an apology for not receiving these details earlier (still have this letter).

So as said in an earlier post on here, it was the application form of the mortgage that we did not take out, but we did receive the correct mortgage agreement for the mortgage we did end up taking out August 2007.
The remortgage did not end up including any outstanding debt from personal loans, overdraft as originally arranged on the main first application, apart from a secured loan, so we were still left to deal with that, and from that the implications were not discussed of the affordability, but was told this was the only way around this mortgage.
(Yes we do wish we looked elsewhere for a quote, but told only your own bank would give the best one), we stupidily went along with it.

Unfortunately, where hubby worked, Steelplant, it went into liquidation days before Xmas in that same year, many hundred of them were left with no money, this was then dealt with by the receivers who taken over the plant, which taken weeks before receiving a part of the money.

Yes we did have insurance, and rightly made the claims, but we were still left in a debt with this and that, which eventually affected the mortgage once the insurance was fully claimed.

Long story here, and when hubby returned to new employment, arrangements were put into place to add the arrears to the mortgage.

Not totally blaming the bank, as we should have used our heads and realised what we were doing too, but as said, being laid back, we just went ahead, which is why over the previous years learnt our lesson............I think lol.

[di30]

Re: Re-mortgage application forms query?

In relation to this mortgage (as explained earlier in the thread), they have upheld the Term assurance, as shown on my thread below.

[di30]

Re: Re-mortgage application forms query?

Dealing with PPI, I'm fine with but mortgage matters I'm not lol, now this from "WHICH" in regards of irresponsible lending is what I came across, but is dated 2010.

https://docs.google.com/viewer?a=v&q...qa5BV9Ak82sYNw

[mgfboy]

Re: Re-mortgage application forms query?

Di what are you trying to get out of LLoyds??

If it's just the docs, I dont think I would keep poking them, but again it depends what you want.

[di30]

Re: Re-mortgage application forms query?

We thought it was the end of it, it was only when we had a contact from lloyds (as said in one of the above posts) that they said they were forwarding info to C&G, due to some issues and concerns in regards of the mortgage and how it was dealt with in so many words.

So with that as requested, they sent a expenditure form to complete as you are aware, which we have done and see what they come back with there, but they are yet to come back on another matter they said they missed which they are reviewing once they receive our expenditure.

We didn't take the paperwork/docs matter any further

[di30]

Re: Re-mortgage application forms query?

A letter update received today, dated 21 May 2012.


Dear Mr & Mrs *****

Mortgage Account ************

I am sorry that it is taking so long to provide you with our position regarding the mortgage. I am hoping we will be able to respond regarding this within the next 10 days.

If you have any questions, I will be very pleased if you could call me personally on Tel ***** ******

Yours sincerely

Executive Team.