Mortgage documents different to what I signed.

[DavidTechman]

Hi All

Hope you can help.

I've been paying my mortgage via standing order so set amount comes out.
I'm in the position to fully pay off my mortgage 5 years prior to end date.
Wanted to settle up, then maybe consider moving in a few years.

HEADS UP: My mortgage was with one bank originally and another bank took over.

So I was gathering all my documents together, So I can file away altogether etc.
I contacted the bank for all my documents, deed etc as I'm about to settle up, As some files hidden away in the loft, so I thought I'd just ask the bank to forward them for reference.

Then things played out very odd, regards what the bank was saying and what I found out.

So my mortgage was Part and Part.

But when I was on the phone, the bank kept referring to interest only and said remaining balance etc.
And wanted me to confirm it was an interest only mortgage.

Its been on standing order and it confused me as I was so sure It was part and part.

So I said I will call back.

So I went to my loft and dug out my documents after 2 days of searching, I did, in fact, sign a part and part.
I then paid for land registry search and saw on file the mortgage for my property was part and part.
But the bank says its Interest Only.

Going back over all records from yearly paperwork, Now all documents are in one place, It seems it hasn't been going down, and they have only been charging me interest only.

So I've been pushing for the documents, as I was feeling uneasy and sceptical, I said I haven't got my documents, could they provide me with a copy of the signed agreement and copy of the deeds.

Bank has said they don't have any documents, not the signed mortgage agreement, they don't have any deeds as all deeds are now destroyed and are digital.

Deeds destroyed? Doesn't sound right.
And they have no documents that I signed

Before I go back to them, I'm asking for any advice, Or any information that I can present the bank, or anything opinions,
Is it classed as mis-sold?
have they done something naughty or illegal?
Can they change it from part part to interest only, without telling me?
Should they have said documents?
Why do they want me to confirm its Interest only and then pay a balance that has not gone down?

[samlittleboy]

Re: Mortgage documents different to what I signed.

They were bound to provide you those documents whenever you wanted. You should consult an attorney.

[Diana M]

Re: Mortgage documents different to what I signed.

To make it easier to help can you say the name of the original mortgage lender and also the name of the lender who you're now dealing with. Some do things differently from others.

You should send a Subject Access Request to both so you've got the full history including what happened when the account was sold.

You need to know if the purchaser changed the loan product at that point and if there was anything in the original Ts & Cs which provided for that.

One other thing is to check for any Early Redemption Penalty if you pay off the mortgage five years before the term expires. Some lenders charge a whopping 5% of the original loan!

They try to justify it by saying that when the money was advanced at the beginning of the deal, they factored the future interest payments into their maths.

Other lenders are only too happy for you to pay off the balance so they can use the money to lend to someone else at a higher interest rate.

Di