Comments on: Shared appreciation mortgages can give step up, says expert http://www.thriftyscot.co.uk/092007/shared-appreciation-mortgages-can-give-step-up-says-expert.html Welcome to The Thrifty Scot financial help site. Look through our credit cards, loans, mortgages, savings and insurance sections Mon, 12 Sep 2011 23:59:44 +0000 http://wordpress.org/?v=abc hourly 1 By: Mike Pendergast http://www.thriftyscot.co.uk/092007/shared-appreciation-mortgages-can-give-step-up-says-expert.html/comment-page-1/#comment-106 Mike Pendergast Wed, 10 Oct 2007 11:55:29 +0000 http://89.151.110.92/?p=1167#comment-106 Hi Mark - sorry for the delay in responding! It sounds like your mother had an equity release or Home Equity Plan mortgage. The newer shared appreciation mortgages tend to take a share of a much lower percentage. Your course of action would be to write to BOS in the first instance and express your concern. If you are not happy with their response, you can then approach the Financial Ombudsman for an independent adjudication. Hi Mark – sorry for the delay in responding!

It sounds like your mother had an equity release or Home Equity Plan mortgage. The newer shared appreciation mortgages tend to take a share of a much lower percentage.

Your course of action would be to write to BOS in the first instance and express your concern. If you are not happy with their response, you can then approach the Financial Ombudsman for an independent adjudication.

]]> By: Mark Wyllie http://www.thriftyscot.co.uk/092007/shared-appreciation-mortgages-can-give-step-up-says-expert.html/comment-page-1/#comment-105 Mark Wyllie Mon, 01 Oct 2007 22:58:39 +0000 http://89.151.110.92/?p=1167#comment-105 Hi, I'm looking for expert advise to fight the Bank of Scotland after misselling my mother a Shared Appreciation Mortgage. The BOS gave her 25% towards the purchase of her house in return for 75% of the appreciation. The 75 % was not mentioned during her meeting with the bank who mentioned only that hey could give her up to 25% of the value of the house. That was 10 years ago now the house has appreciated by £100k where the bank stands to gain £75k for 25% stake in the property - can you help ? Kind Regards, Mark Wyllie Hi,

I’m looking for expert advise to fight the Bank of Scotland after misselling my mother a Shared Appreciation Mortgage. The BOS gave her 25% towards the purchase of her house in return for 75% of the appreciation. The 75 % was not mentioned during her meeting with the bank who mentioned only that hey could give her up to 25% of the value of the house. That was 10 years ago now the house has appreciated by £100k where the bank stands to gain £75k for 25% stake in the property – can you help ?

Kind Regards,

Mark Wyllie

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