Hundreds Gather To Stop Cancer Patient Being Evicted From His Home

[alittlethyme]

www.itv.com/news/central/2015-01-23/hundreds-gather-to-stop-nottingham-man-being-evicted-from-home/

A nice heart warming story, man sounds to have been a victim of bank fraud aka mis selling.

It doesn't give any clue in the article why he thinks he's paid off a mortgage that the lender says stands at £43k.

Aren't there ombudsmen who look into cases like this?

I don't understand, why would there be such a discrepancy in what he owes on the mortgage. Surely it would be better to attempt to resolve it officially rather than organising this gathering?

I know the daughter of this guy - he has tried to resolve it through the courts, unsuccessfully. He has paid the bank over three times what the original value of the mortgage capital was, but when Bradford & Bingley's assets changed hands, first the bank told him they had no record of his endowment, then they told him it was all their mistake and apologised, now they're claiming he only paid off the interest and are repossessing.

The papers haven't given a lot of detail so for anyone wanting to find out more, there's a video

So he had an interest-only mortgage and an under-performing endowment that did not pay it off?

Presumably because it's all been throught the courts, any misselling compensation has already been dealt with too, but there is still the £43k shortfall.

Yes it does sounded as if he would have been better off with a repayment mortgage, but the warning letters about underperforming endowments have been seriously clear for the last decade or s,o in order to give people time to plan how to pay off the debt at term. That you pay 2-3 times original loan over life of mortgage is typical, so i wouldn't expect grounds for complaint there.

The angle here that I'm less sure about is his illness, as of course that might mean he cannot remortgage as he is now pretty much uninsurable. What a mess.