Posted on 4 October 2012 by Dave
I separated from my wife 3 years ago. The house is in joint names with a 10 year fixed rate mortgage with the Derbyshire. We've now decided to sell. I had hoped we could port the mortgage to two separate properties, but Derbyshire were baffled by this request. We were told we could only port the mortgage to one other property. We don't need the whole mortgage for one property so will have to redeem part of the mortgage at extortionate cost. We agreed to port part of the mortgage to my wife's new property. The building society then refused to do this as they wouldn't accept evidence of my maintenance payments through anything other than a Court Order, we don't want to get divorced yet; it would take too long and my wife would lose the house she wishes to buy. So the Derbyshire won't accept a mortgage in her name because from their point of view she can't afford the repayments. So we decided to put the mortgage on the new property in both our names and remove me in due course when we divorce. After weeks and weeks of haggling with the Derbyshire, they're now asking why I live at a separate address! The underwriters are still considering the issue. Are there rules or guidance around this sort of thing? The Derbyshire refuse to put anything in writing, they refuse to explain their lending criteria, and they refuse to let me speak to anyone apart from the ill-informed front line staff. I could do with some help.
Whilst I am not surprised that Derbyshire will not let you port your existing mortgage to 2 new properties, I must agree that the service you have received has been rather less than helpful.
If Derbyshire will not provide you with a reasonable explanation or let you speak to a Manager in their underwriting department, I suggest you ask for a copy of their complaints procedure. This will tell you who to make a complaint to and also set out the timescales in which they have to respond and what to do if you reach an impasse.
The Financial Ombudsman Service website has some useful tips on how to complain and how and when they can help:
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