Page 5 | To consider ‘going to the papers’

TatianaBis · 05/03/2022 11:34

Sorry that was to the OP not @Cwharf

Batinhernightdress · 05/03/2022 11:44

Now you've explained the story I'm really sorry but my first response is to struggle to feel sympathy (of course I do for the loss of your husband and understand that you didn't wish to be a LL and for you as a poster, but I wouldn't if I read this in the paper iyswim)
Many people will think that you were basically planning on making 30k a year out of misery. HMO have a dreadful rap where I am, either drugs, noise, extreme poverty, children living in dangerous and unsuitable conditions, poor state of repair etc. Please understand I'm not suggesting this is true for you at all, but would be what many thought if you, your problems and your details were published.

I think you can only go to one that uses initials as a pp said with no identifying details or your MP.

Original poster

Hellorhighwater · 05/03/2022 16:34

@batinhernightdress Believe me, I get it. The moment you mention buy to let, you’re an ogre. Even if the alternative would have been a big wedge of state benefits, instead of of taxes paid (well, not recently. But normally) I’m not defensive about it, I’d probably be the same. But it is what it is, and I need to deal with it. I most certainly wasn’t planning on any of this. All I wanted was to remortgage to a better rate and get on with my life.

They’re just student lets, nothing soap-opera worthy. They’re all well appointed and safe. I don’t let anything I wouldn’t be happy to see my own daughter in. But they are my livelihood, affected by a multimillion pound company’s repeated mistakes (this happened eight times, remember. It’s not a one off) and I am now a lone parent. This is effectively my husband posthumously supporting my daughter and I. I can’t just give up on them. Personally, I wish my DH had put his money into a proper pension, then I’d be living off that now instead and no one would bat an eyelid at me swanning around on it. I never really thought of a privacy thing, although it a valid concern. It was more I generally think it’s a shitty thing to do. There are proper channels and they should be used. But in letting it drag on (thinking I was being fair and not grabby. I never would have dreamt of asking for this sort of compensation until marker number 6), I’ve shot myself in the foot, and so I don’t think I have many options.

I think it couldn’t hurt to try the broadsheets. I just don't think anyone will care enough to get the bottom of it. I wouldn’t be interested, if it wasn’t my life.

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TatianaBis · 05/03/2022 16:40

I don’t know what is the overall equity in these properties, but you might be better off selling up and investing the money with a wealth management company. A typical yield, depending on the risk level, would be around 3%. Have you looked into that seriously?

Covid aside, being a LL is always a pia - there are always problems.

Original poster

Hellorhighwater · 05/03/2022 16:53

[quote TatianaBis]**@Cwharf

Having read your detailed narrative, I have to agree with @Cwharf that this deeply unfortunate situation is not one where it is possible to determine a fixed loss as a direct result of the mortgage company's negligence.

You should receive something as compensation for their errors, but the amount won't be anything commensurable with your aggregate losses.[/quote]
I agree. It’s not a simple cause and effect. But I don’t think its fair for them to say ‘its too hard for us to figure out what you should have, so tough’ either. I have never expected to get all of it, or even most of it.

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Original poster

Hellorhighwater · 05/03/2022 17:05

Thank you to everyone who has taken the time to read and comment. It’s been nice to get a fresh perspective, I think I’m very jaded by it. I’ll look at the house insurance, and reputable journalists, like money box live or one of the broadsheets.

I’ve checked the house insurance, and I don’t have legal cover. My landlords insurance, may though. I will check the law students and see how likely it is I can get some recourse through the courts. I have also had one or two other thoughts overnight about how I can earn more money, so I feel better about that today.

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Batinhernightdress · 05/03/2022 17:10

Thanks for taking that well, I wasn't meaning to add to your stress just wanted to show how I'd see it. However, call them student lets, University housing, whilst they do have their issues the general public would, I think, view them differently to HMO.

LadyRoughDiamond · 05/03/2022 17:24

Another vote for The Telegraph here. Kate Morley, their financial troubleshooter, is absolutely brilliant. She’s on mat leave at the moment but Sally Hamilton is v good and I’m sure would look at this for you. You can send in details at [email protected]

Original poster

Hellorhighwater · 05/03/2022 17:31

@Cwharf Yeah, its beyond ridiculous. Thanks for taking the time to help, I really appreciate it. I did have paid employment for a lot of the time, and I did try to mitigate my losses. For example, before I sold the motorhome, I suggested that they make a temporary payment, of the costs to date or a partial payment. I got several quotes, I checked if the fancy toys I’d got on it could be removed and sold separately (yes, but not for months) etc etc. I was very clear about what I was facing, but they declined to even negotiate. You’re right in that there isn’t a lot of proof, although it doesn’t take a financial whizz to deduct that I was on a very high interest rate, and that fictitious markers all over my credit rating for the best part of two years is going to affect my ability to change that, it’s just a question of how much.

This has always been something that has been ‘going to be’ sorted in a month or two. I never imagined it would go on this long, or I would have made different choices. I’m so cross I used all my savings waiting for the ombudsman. I should have got a solicitor instead.

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Original poster

Hellorhighwater · 05/03/2022 17:36

@Batinhernightdress

Thanks for taking that well, I wasn't meaning to add to your stress just wanted to show how I'd see it. However, call them student lets, University housing, whilst they do have their issues the general public would, I think, view them differently to HMO.

I get it, and I don’t disagree. The HMO thing is the type of mortgage product and licence you need, that’s all. It used to apply to tenancies of more than 5 unrelated individuals, but now they’ve cut it to 4. I appreciate that people may have a different impression.

Y’all have life insurance, right?

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Batinhernightdress · 05/03/2022 17:44

I get that it's technical, but HMO will bring out the pitch forks, student let meh.

Regards life insurance there was a rep at the Student Union telling us how cheap we could get a fixed life assurance with him and that we need to fix it whilst we are healthy. If we signed up we got a meal and a pint from the SU, admittedly planning to cancel. I never did and I am so grateful I'm so lazy. Whilst I'm not sure that was ethical I do think we need to talk about things like this more at school. Bereavement is dreadful for rich and poor, but Bereavement whilst you worry how to keep a rood over your head or food on the table is another level.

Sameoldgirl · 05/03/2022 17:45

The Telegraph's financial column is brilliant at this kind of thing and they don't go overboard, just set it out step by step and quite often don't publish until the situation has been resolved. It's in the financial/money supplement on a Saturday. I would definitely try that option. You don't have your real name or picture used and they actually try to sort it out.

Mummyofsquidge · 05/03/2022 17:46

Personally I would take the advise and get a solicitor involved and take a formal case. Going to the media may jeopardise that. All you will get paid by are the media company.

The only other route may be advise from Martin lewis, but if ombudsman is suggesting legal action, and the company have admitted liability then formal legal recourse is your best bet.

Unsure33 · 05/03/2022 17:48

Also if you just want a chat and another perspective I would join legal beagles forum

They helped me and I won a case against a bank . I also took tui to court and won ( small claims )

Mandyjack · 05/03/2022 17:50

@Hellorhighwater

Three years ago, after my husband died, a major financial institution really cocked up my life. They have (finally) admitted responsibility, but are fighting me over compensation. The ombudsman is involved, but has now said they don’t cover all ‘consequential losses’, and I may have to sue for some of them. I can’t face it. It’s been utterly awful. Obviously it’s complex, but I’m missing £60k in equity I should have realised and about £800 a month ongoing. The damages add up to about £70k, so it’s not inconsequential amounts they’ve cost me. I’m trying keep my shopping budget under £20 a week this month for me, DD and two dogs. I’m penniless and they make millions in profits. It feels like they have all the power here, and it feels deeply unfair.

I’ve always thought that taking to the media is a low blow, but I’m so exhausted by the whole process I don’t know what else to do. I can’t carry on like this. ) I thought the ombudsman would be the end of it (they’ve been dealing with it since August last year and everything takes forever) and I thought perhaps a bit of bad publicity might push them into being a bit more amenable. Not that I actually have any idea how to do it. Email ‘The Sun’? (I don’t even read the news!). What do people think?

Have you not got a no win no fee solicitor involved who would negotiate compensation?

Roxy69 · 05/03/2022 17:56

Your local MP should be a good start. I remember they always got to the top of things if they contacted us for any reason.

Celestine70 · 05/03/2022 18:02

I would suggest Martin Lewis first.

Blossomtoes · 05/03/2022 18:02

@FurbleSocks

You might want to try

Jill Insley Question of Money The Sunday Times
[email protected]

or

Anna Timms of the Observer - [email protected]

Or

Consumer champions at the Guardian -
[email protected]

This. None of them are after sensationalist stories. And they get results.

stylehelpneeded · 05/03/2022 18:07

I'm sorry you are in this position. I too would hate to go to the press. However I did used to work in PR for one of the top insurance companies and whenever we had a negative story we had an internal 24 hrs to get to the bottom the issue and it often ended up in the customers best interest, with a quick resolution - just in my experience.

Powerflower22 · 05/03/2022 18:10

Being a former press officer for a global bank my advice would be to tell them you are going to contact to contact the uk ‘s leading financial journalists and this is their last opportunity to come to a agreeable settlement. Once their media team are involved you have your best chance of success x

BlueMarigold · 05/03/2022 18:15

DD’s passport expired. Does anyone know if we have to send student finance her birth certificate in the post? It’s our only copy.

Boysgrownbutstillathome · 05/03/2022 18:15

Rip off Britain might take it up. Otherwise go ahead and sue them!

TatianaBis · 05/03/2022 18:20

Fwiw being involved in a case with the FOS atm - the delays due to Covid backlog and huge increase in claims are interminable.

I could have gone the media route and had a journalist ready to cover the case, but held off on legal advice that it could negatively impact it. If I had my time again I’d do the media route first, I think we would probably have ended at the same point in a much shorter time.

TheGreenLady · 05/03/2022 18:20

Hi OP, I’m a complaint handler for a building society so I’ll give you my take on this. You’ve said:

‘Financial Institution offers 2k compensation and about 6K difference between the mortgage I thought I could get, and the one I thought I could have had before they stomped all over my credit rating for the second time. But they won’t pay the 6k, only the 2k.’

Can you explain this please? Why won’t they pay the £6k if they offered it? Would the matter be resolved for you if they gave you £6K?

Have you set out exactly what you want and why you feel the financial institution is responsible for compensating you for that? E.g how much rental income have you lost and why are they responsible for you not being able to get tenants?

It seems a vey complicated issue so you need to be very clear on what you are asking for and WHY.

gonnabeok · 05/03/2022 18:23

Send the details to watchdog.Lots of people there have had companies do a round about turn to avoid bad publicity.