How Housing Rights helped Patrick and Mary

Patrick and Mary are 76 and 72 respectively. They had taken out their mortgage just before the property crash and their home was in negative equity. They had secured their mortgage through a broker whom they had told what their income was and what they could afford. 

The case was passed to our legal team as we suspected that their mortgage had been mis-sold.   We requested a copy of the mortgage application from the lender.  On reviewing the documents, it became apparent that false information had been included without Patrick and Mary’s knowledge.  Their mortgage had been offered on the basis of a false income and the assumption that the couple would not retire until they were 90. Patrick and Mary were adamant that they hadn’t provided this information and at no point had the lender contacted the couple to verify any information.

Our legal team based their arguments around several key pieces of legislation: Financial Conduct Authority Guidance, the Mortgage Conduct of Business Rules; the Administration of Justice Act 1970; the European Convention on Human Rights and the Human Rights Act.  Following protracted negotiations, a settlement agreement was reached.

Our work meant that Patrick and Mary had an extra 6 months to live in their home and to try to sell it.  We also ensured that the couple would not be liable if the house sold for less than the mortgage owed. Our assistance prevented the couple from being made homeless and improved their financial situation. 

“They helped to ease the stress and worry for us at our age, 72 and 76. We felt really ashamed to be in this position at our age....Took away feeling of depression and gave reassurance, helped us to understand they could help us - not on our own. We have a lot of health problems and having someone on our side eased the pressure.”