Issue
Every record in the archive tagged "Mortgage prisoners".
A complaint against Pepper (UK) Limited trading as Engage Credit about a mortgage taken out with Kensington Mortgage Company Limited in 2005 and transferred to Engage in 2022. The complaint concerned the interest rate, the balance and fees and charges added to the loan. It was upheld.
An interest-only mortgage taken out with Rooftop in 2006, fixed for two years and then reverting to LIBOR plus 4.1%. Payments from the borrowers and the Department for Work and Pensions cleared the arrears and built an overpayment balance, which was eroded from 2022 as interest rates rose and payments reduced. The complaint concerned the erosion of that balance, the interest rate increases and the charges applied, and was not upheld.
Rooftop Mortgages Limited publishes a notice about the Financial Conduct Authority's Consumer Duty. The published document is marked version 1.0 dated 21 August 2023 and records that the Duty applies to closed products from 31 July 2024. It states that Rooftop is no longer an active lender and that all of its mortgages are closed products.
An open discussion thread started in November 2008 in which contributors describe their experience of holding a Rooftop mortgage and of trying to move to another lender.
Charges and interest
Ownership, authority and servicing