|
Mortgage bill complaints rising says ombudsman |
Many homeowners are facing an unexpected outstanding mortgage balance owing to mistakes in monthly payments.Advice: For help with Mis Sold Mortgages and Sub Prime Mortgage Compensation please call 0800 043 1683. Many homeowners are facing an unexpected outstanding mortgage balance owing to mistakes in monthly payments. The Financial Ombudsman Service said it was receiving a rising number of complaints over how these disputes have been resolved. The ombudsman deals with numerous disputes each year when homeowners are hit with a large balance after paying the amount quoted by their lender. Complaints The issue is known as mortgage underfunding, and the financial ombudsman said that its approach to compensation had been unchanged for 10 years. The service said that mortgage lenders could tell homeowners to make monthly mortgage payments that were too low for a number of reasons. These included quoting interest-only payments in error, calculating payments over a longer term than planned, lengthening a mortgage term incorrectly, or even just making a typing error. |
|
Read more...
|
|
Negative equity will last until 2014 |
Tens of thousands of people who bought a home at the peak of the market will remain trapped in negative equity until 2014, a devastating report warns today. Official figures show around 1.3million bought a property in England in 2007 when prices reached an all-time high. Their home is worth less than they paid for it and will remain so for another four years, according to the report from the National Housing Federation.
Trapped; Those who bought a home at the peak of the market in 2007 will remain in negative equity until 2014, according to a new report. It says a significant minority are in negative equity, with a mortgage bigger than the value of their property, giving them problems if they have to sell. The report warns that Britain is 'in the midst of the worst housing crisis for generations' and that house prices will fall again next year. |
|
Read more...
|
|
Millions facing lowest returns on investments since records began |
Millions approaching retirement could be devastated by the worst pension payouts since records began. Despite saving the same amount of money into their pensions, they face the dire prospect of getting about half the income they would have received 15 years ago, research reveals today. It comes on top of the collapse in final salary pension schemes, with millions locked out of the best type of retirement provision. Experts said employees who want to retire are facing a nightmare which no previous generation has had to cope with. The plunge in pension payouts is because annuity rates have nose-dived. Annuities offer a guaranteed monthly income to those who have saved into a pension pot. |
|
Read more...
|
|
|
<< Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>
|
|
Page 6 of 47 |
£1,431.76 from Citi Financial