Mortgage Legal Question U.K Bad advice resulted in loss of home.?

I took a mortgage to buy my council house, and as I was self employed, I had to a private mortgage arranger, who came to our home and there and then, arranged for a non status lender to provide us with a mortgage over the phone. He then dealt with all the surveys, building insurance etc, as these people do, thats how they earn their wage. But, he advised me that as I was self employed, I would not get employment insurance, and if your paying for advice you take it. Some months on I had an accident that resulted in me having to stop working, and as soon as this happened, the lender went straight to work on re-possesing the house. They knew that the benefits agency would not pay the interest on the loan until 28 weeks of being unable to work. Yhe lender refused to wait that long and I was asked how long before I could pay, I simply could not, they took the house. someone said I could have had Insurance,and I had bad advice.Can I be compensated from the advisor?, as I did pay him for thisMortgage Legal Question U.K Bad advice resulted in loss of home.?
Hi,





This is really pathetic. But, you can't claim a compensation from the advisor as it's not possible to produce a proof that he hasn't advised for an insurance. You have to curse your bad luck. You can visit http://www.fundsleader.info to find out if you can come out of this messy situation and redeem your house. Good luck!Mortgage Legal Question U.K Bad advice resulted in loss of home.?
Which one, the ';someone'; who said you could have had insurance, or the ';paid advisor';?





Here in the US, the ';someone'; would be wrong. If they aren't a professional, they offered a nonprofessional opinion, and it didn't effect anything.





The ONLY person you MIGHT have recourse to, is the professional. And if your ';someone'; says, oh, sure, I have no idea what I'm talking about, but they could buy insurance, but the professional says, no you can't, who is the judge going to believe?





Tell ya what - pretend the disability didn't happen. Start calling around. See if you can find someone to give you that coverage, WITHOUT a waiting period (as 1-3 months is a standard wait before coverage kicks in here across the pond). If you can't, then you KNOW someone was wrong.





And in any case, you'll have to pay your solicitor to bring suit - my guess is, if you couldn't pay the mortgage, you won't be able to pay the solicitor, either - in which case, you won't be able to sue.