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Thread: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

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  1. #51
    Diana M's Avatar

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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    Quote Originally Posted by cloudydays View Post
    I always thought a contract between had to be fair on both sides or have i got that completely wrong i just want to get rid of rooftopcould we take them to court re the terms and being charged 6% above base rate or charges on charges they put on when we did fall into arrears

    Rooftop mortgages were linked to Libor rate which fluctuated around 6% in 2006 so you would have been charged at 12% (if the loan was 6% over Libor).

    At the start you may have been on a low two year fixed rate and then that would have changed to Rooftop's own Standard Variable Rate which wasn't necessarily linked to anything.

    The loans were sold on the basis of the low introductory rate and most borrowers didn't take a lot of notice at the massive hike around the corner because the broker would always say you could remortgage with another lender on another low rate at the end of the fix. That option went belly-up when the Credit Crunch arrived and lenders stopped lending.

    But I do remember Rooftop offered an "internal remortgage" whereby you could remortage with them on a low fixed rate after the two years.

    There's a difference between a contract being unfair and a contract being fair but expensive.

    They would argue that at the time their rates were higher than high street lenders to reflect the higher risk they were taking. Rooftop's customer base was largely borrowers with impaired credit, or people buying properties that other lenders wouldn't finance such as ex-local authority or non-standard construction. They offered 'self-certified' mortgages where no proof of income was requested.

    However, if there was something in the contract that put you in a disadvantaged financial position (caused your arrears) then that could be looked at. There's a lot to scrutinize before you start your negotiations with them.

    What was the basis of your complaint to them?

    Di
    I am a Litigation Executive at Joanna Connolly Solicitors a firm which specializes in consumer credit.

    This forumís site rules donít allow me to give advice by PM but if you need to contact me please email di@joannaconnollysolicitors.co.uk . Our initial advice is always free.

    Any posts I make on LegalBeagles are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

  2. #52
    cloudydays's Avatar

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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    Hello
    thank you to those who helped re the sar
    we thought we would give an update
    we have decided to sell our house as we can no longer afford to stay
    its a shame we never got to take on the mortgage company
    but thank you
    cloudy days

  3. #53
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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    That is such a shame cloudy, but understandable, it would be a really tough, stressful battle to get things sorted back to the 15 years you thought you signed up for originally, with no guarantees of success bastards.

    Will the house sale give you enough to get rooftop off your backs and still enable you to start over?
    ďWe may not win by protesting, but if we donít protest we will lose. If we stand up to them, there is always a chance we will win.Ē Hetty Bower

    Any advice I provide is given without liability, if you are unsure please seek professional legal guidance.

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  4. #54
    cloudydays's Avatar

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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    hello
    and thank you we will have to rent which is dead money but (cheaper) better than having a mortgage till we are past 70
    its a shame as we did so want to get or try to get some of what they have overcharged us for
    cloudydays

  5. #55
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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    will this nightmare ever end with rooftop
    on friday we gave them notice that we wanted to sell as our agreement states we have to
    they have said they want 1.5 percent of whats left on the mortage as we are ending early also they are also stating that we now also owe them 7569 pounds on top of that from when they took us to court but when in court the judge said no fees could be added as they where allready added and paid when we paid off arrears but rooftop have said in writing that they dont care what the judge has said they can charge extra fees on top which they are adding interest on its a never ending nightmare

  6. #56
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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    hi

    do you have any of the paperwork from them thatdetails costs and charges,
    crazy council ( as in local council,NELC ) as a member of the public, i don't get mad, i get even

  7. #57
    cloudydays's Avatar

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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    hello
    yes we have the original ones when we took out the mortgage

  8. #58
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    Default help

    hello
    we have just had a letter today stating that rooftop mortgages have sold us to a company called lakehouse mortgages limited
    the letter states that they will be setting all new terms and conditions and interest rates how can they do this
    please help us

  9. #59
    cloudydays's Avatar

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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    hello
    things seem to go from bad to worse we have not managed to finish the house ready to sell
    now we have a letter from rooftop stating that they have sold all mortgages to a company called lakehouse mortgages limited
    the letter states that they will take over on the 19th april 2017 and that the new company will be setting new rates and charges and terms and conditions
    what do we do know we just feel at wits end and are very worried
    please can anyone help us

  10. #60
    Diana M's Avatar

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    Default Re: help

    Quote Originally Posted by cloudydays View Post
    we have just had a letter today stating that rooftop mortgages have sold us to a company called lakehouse mortgages limited
    the letter states that they will be setting all new terms and conditions and interest rates how can they do this
    That's a good question since according to Companies House Lakehouse Mortgages Ltd is a non-trading/Dormant company.

    https://beta.companieshouse.gov.uk/company/08763016

    https://beta.companieshouse.gov.uk/c...filing-history

    Maybe they're about to spring back into life.

    Di
    I am a Litigation Executive at Joanna Connolly Solicitors a firm which specializes in consumer credit.

    This forumís site rules donít allow me to give advice by PM but if you need to contact me please email di@joannaconnollysolicitors.co.uk . Our initial advice is always free.

    Any posts I make on LegalBeagles are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

  11. #61
    Diana M's Avatar

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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    Quote Originally Posted by cloudydays View Post
    we have a letter from rooftop stating that they have sold all mortgages to a company called lakehouse mortgages limited
    the letter states that they will take over on the 19th april 2017 and that the new company will be setting new rates and charges and terms and conditions
    what do we do know we just feel at wits end and are very worried
    I've replied to this on your other thread.

    Wait until you hear from Lakeside to see what they have to say before you start to worry. They may be more pleasant and amenable than Rooftop to deal with.

    Are you paying by direct debit and does the Rooftop letter say this will continue showing Lakeside instead of them on your bank statement?

    Quote Originally Posted by Diana M View Post
    That's a good question since according to Companies House Lakehouse Mortgages Ltd is a non-trading/Dormant company.

    https://beta.companieshouse.gov.uk/company/08763016

    https://beta.companieshouse.gov.uk/c...filing-history

    Maybe they're about to spring back into life.
    Di
    I am a Litigation Executive at Joanna Connolly Solicitors a firm which specializes in consumer credit.

    This forumís site rules donít allow me to give advice by PM but if you need to contact me please email di@joannaconnollysolicitors.co.uk . Our initial advice is always free.

    Any posts I make on LegalBeagles are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

  12. #62
    Diana M's Avatar

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    Default Re: help

    I've posted on your other Rooftop thread so maybe @Kati would kindly merge the two to keep things all in one place.

    Your other thread is here > http://legalbeagles.info/forums/show...486#post716486

    Quote Originally Posted by Diana M View Post
    Wait until you hear from Lakeside to see what they have to say before you start to worry. They may be more pleasant and amenable than Rooftop to deal with.

    Are you paying by direct debit and does the Rooftop letter say this will continue showing Lakeside instead of them on your bank statement?
    Di
    I am a Litigation Executive at Joanna Connolly Solicitors a firm which specializes in consumer credit.

    This forumís site rules donít allow me to give advice by PM but if you need to contact me please email di@joannaconnollysolicitors.co.uk . Our initial advice is always free.

    Any posts I make on LegalBeagles are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

  13. #63
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    Default Re: help

    Quote Originally Posted by Diana M View Post
    I've posted on your other Rooftop thread so maybe @Kati would kindly merge the two to keep things all in one place.
    sorted x
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  14. #64
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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    hello
    thank you so much for linking the threads together
    they say the mortgage will be serviced by capita mortgage service limited on behalf of lakehouse
    re direct debit they say that's staying the same
    can they just sell us and can the new company and can they just set the mortgage interest rates to what they want
    trish

  15. #65
    cloudydays's Avatar

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    Default Re: help

    Di
    is this something your solicitors would take on for us
    Trish

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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    cloudydays

    Have you complained about the applied charges within the last six months ?

  17. #67
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    Default Re: help

    Quote Originally Posted by cloudydays View Post
    Di
    is this something your solicitors would take on for us
    Trish
    I've received your PM and voicemail. We have previously spoken about your Rooftop mortgage so I will call you when I'm back in the office on Thursday.

    Di
    I am a Litigation Executive at Joanna Connolly Solicitors a firm which specializes in consumer credit.

    This forumís site rules donít allow me to give advice by PM but if you need to contact me please email di@joannaconnollysolicitors.co.uk . Our initial advice is always free.

    Any posts I make on LegalBeagles are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

  18. #68
    cloudydays's Avatar

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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    helloed
    and thank you Di
    no I have never complained re charges

  19. #69
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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    Have looked at the last two years FOS (Ombudsman) decisions on Rooftop, there are only four, this is one of them;
    Attached Files Attached Files

  20. #70
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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    hello
    and thank you for your post

  21. #71
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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    Can they just sell your mortgage as I thought our contract was with them
    What if they charge way higher than rooftop of 6.25 % that we pay at the moment do they have the power to change all our terms and conditions

  22. #72
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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    Quote Originally Posted by cloudydays View Post
    Can they just sell your mortgage as I thought our contract was with them
    What if they charge way higher than rooftop of 6.25 % that we pay at the moment do they have the power to change all our terms and conditions
    -----------
    They can sell the the business to anybody they like so long as they are licensed to manage. The contract is just a contract & its value lies within the terms & the security.

  23. #73
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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    hello
    what I don't understand is that the Rooftop states that they (new company) are changing all our terms and conditions including interest rates and how
    long we have our mortgage for
    as we wanted to sell we gave rooftop notice to this as it stated we had to in our terms and conditions
    now rooftop are saying that we have to give new notice to the new owners
    which I feel is totally unfair
    also when I rang rooftop for a total of outstanding balance it has gone up by 35 thousand from our last mortgage statement
    considering we have paid a whole year off of the last statement
    we feel very alone and just don't know what to do

  24. #74
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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    Did you ask them to send you a full statement of the last year so you can see how it has gone up by £35k ?

    What are Rooftop saying you have to give notice to the new owners about?
    ďWe may not win by protesting, but if we donít protest we will lose. If we stand up to them, there is always a chance we will win.Ē Hetty Bower

    Any advice I provide is given without liability, if you are unsure please seek professional legal guidance.

    Find Solicitors offering fixed fees on our sister site - JustBeagle.com

  25. #75
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    Default Re: ROOFTOP mortgage - applied for 15 years - told its for 30 years !!!!!

    Hello
    They said via phone that it went up because of charges that where outstanding that only came to light when they where sorting through everything for the new owners I asked them to put this in writing and she refused she also stated that as we gave notice to them (rooftop) that we wanted to sell that we also have to give new notice again to the new owners of our mortgage we have had a letter from the new owners telling us of the new fees (which are higher )
    And as of April 1 rooftop do not own our mortgage we can't disagree any fees which they have added as it's all been sold so we have been also told

    - - - Updated - - -

    Hello Di
    Hope you can call soon
    Trish

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