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LMBL80
New Member

4 Posts

Posted - 06 August 2019 :  14:39:45  Show Profile  Reply with Quote
Hello

I hope someone can help me out as I am in a bit of a panic.

Long story short, I was discharged from my TD in March 2010.
Scott Moncreiff reopened it in 2016 to allocate PPI funds awarded and today I am mortified to have got word that a re-mortgage application was declined because they have had information that my discharge date was 2016.

Surely this cannot be allowed/correct? Can anyone advise?

Thanks

TDA (Debt Adviser)
Trust Deed Expert



13031 Posts

Posted - 06 August 2019 :  15:12:20  Show Profile  Reply with Quote
Welcome to the forum LMBL80.

The issue here seems to be a misunderstanding on the part of the mortgage lender.

You were discharged when you were discharged.

What happened later was your former trustee (not you) was reappointed to the trust deed to deal with the PPI. Afterwards they would have sought their own discharge, once the PPI had been dealt with.

You may wish to explain this to the mortgage lender. Have you kept the evidence of your own discharge (Form 5)?

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LMBL80
New Member

4 Posts

Posted - 06 August 2019 :  15:21:39  Show Profile  Reply with Quote
Hello, and thank you for coming back to me.

All I have is a discharge letter from Scott Moncreiff, I was never issued with a Form 5 to my knowledge - should I have been?
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TDA (Debt Adviser)
Trust Deed Expert



13031 Posts

Posted - 06 August 2019 :  15:28:26  Show Profile  Reply with Quote
Your discharge letter should be sufficient LMBL80.

My suggestion is that you provide a copy of this to the mortgage lender, along with an explanation about how they appear to have misinterpreted the trustee's reappointment.

This is all quite technical stuff, so it wouldn't be surprising if a mortgage underwriter doesn't have the knowledge to properly interpret the information that they're seeing.

Hopefully they'll take a reasonable approach and reconsider their decision.

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LMBL80
New Member

4 Posts

Posted - 06 August 2019 :  15:35:51  Show Profile  Reply with Quote
I hope so, thank you for your help.

I had no hassle with my original mortgage application in 2014. It all went really smoothly.
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Kevin Mapstone
Trust Deed Expert



3767 Posts

Posted - 06 August 2019 :  21:59:14  Show Profile  Reply with Quote
I'm not sure that they were called Form 5s way back in March 2010, so your letter of discharge would effectively be the same thing.

Let us know whether you get this resolved would you? There's no way this should count against you, but then underwriters can make nonsensical decisions sometimes.

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LMBL80
New Member

4 Posts

Posted - 07 August 2019 :  08:53:31  Show Profile  Reply with Quote
I contacted our broker yesterday and he is going to contact the lender, I will let you know the outcome.
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