www.iva.co.uk

Hi,
I am about to complete my IVA and there is a mis sold mortgage claim to be proceed. After the initial investigation, the company said there is an indication that the claim might be successful and they need from us letters of authority to proceed with it. Those have been e-mail to us. We signed them and sent them back. The NTF told us, that is enough to complete. The claim process will run even after the completion, so they will proceed with the completion. However today we have revived more paper work to sign (from Pure Legal, company appointed to investigate the claim) and there were some examples of claims and they were very high in values. My questions are: are they going to claim up to the value of our mortgage, which is £231000? Claim in that case (going back to IVA/CLIENT) would be about £120000. Is that possible? How that will effect my current mortgage (i am with the provider at the moment)? Will he make us remortgage with some extremely high interest rate? If yes, what should we do?

Sally.k wrote:

Hi,
I am about to complete my IVA and there is a mis sold mortgage claim to be proceed. After the initial investigation, the company said there is an indication that the claim might be successful and they need from us letters of authority to proceed with it. Those have been e-mail to us. We signed them and sent them back. The NTF told us, that is enough to complete. The claim process will run even after the completion, so they will proceed with the completion. However today we have revived more paper work to sign (from Pure Legal, company appointed to investigate the claim) and there were some examples of claims and they were very high in values. My questions are: are they going to claim up to the value of our mortgage, which is £231000? Claim in that case (going back to IVA/CLIENT) would be about £120000. Is that possible? How that will effect my current mortgage (i am with the provider at the moment)? Will he make us remortgage with some extremely high interest rate? If yes, what should we do?

Mis-sold mortgage claims are a relatively new thing and, as when PPI hit the fan, the whys and wherefors are largely unknown and the outcomes undecided. I would direct these questions at the claims company, copying in the IP and mention that any untoward ramifications will be put right by them, leaving you in no worse a position than you are now in, in all respects and that pursuing such a claim signifies their agreement to such.