Mortgage Company

[sprocket]

I had a mortgage many years ago (about 1999) with a company that was sold to me by a financial adviser on interest only. This was the only mortgage i ever had that was interest only and sold to me by a financial adviser. Every other one i have gone direct to a bank.

I am raking my brain to remember the name of the company. How can i find out, is there a list or maybe someone could make a guess. All I know is they were the highest paying commission for the adviser.

[Guest]

Probably the bank the mortgage is with knows.

[sprocket]

Sorry, wasnt as clear, Im after the name of the mortgage lender, it wasnt a high street bank, not the financial adviser.

[Guest]

Originally Posted by sprocket

Sorry, wasnt as clear, Im after the name of the mortgage lender, it wasnt a high street bank, not the financial adviser.

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Well then could you ask the financial advisor. Or have you forgotten that too? when did you finish paying it off? Perhaps you could get your old bank statements and see who you paid it too.

[babywebb]

I know gmac mortgages used to do interest only around that time if that helps also northern rock I think

[Guest]

Originally Posted by babywebb

I know gmac mortgages used to do interest only around that time if that helps also northern rock I think

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Interest only mortgages were widely available from many providers.

[SnowWhite]

I appreciate that the info you need is 20+ years old and that you may have switched banks and credit card providers since then.
Also that many companies have merged or gone out of business, but if you're still with the same bank through which you made your monthly mortgage payments, It's possible they might be able to give you the info you need.
I assume you also had an endowment insurance to pay off the mortgage?
May be worth checking with them too.
Good luck

[400ixl]

What is the current state of this mortgage?

An interest only mortgage usually has 2 main working parts.
1. The capital mortgage of which you pay the interest on each month without reducing the capital. This runs for a number of years at which point you pay off the capital amount.
2. The endowment policy which is essentially a savings policy that you pay into which builds up the funds to repay the capital. This is aligned to end at the same time as the term of the mortgage. There is no guarantee of the amount in this pot and it could be under or over achieving the value required to pay off the capital in the mortgage.

There is usually a third part to this which is a life policy to cover paying off the capital should the worst happen.

Which of the two parts are you trying to identify, who the mortgage provider was or who the endowment provider was? They are two separate things.

Endowments from many providers have been sold on to other companies many times over, so there is a good change that it is no longer with the original company.


I take it then that this interest only mortgage has completed and is not still ongoing. If so, the capital

You would usually have two elements to an interest only mortgage. The mortgage itself of which you are paying the interest

[sprocket]

I think it was Bristol & West, cant remember the financial adviser.

Basically I had this mortgage for a year or so. I was young at the time and it was never explained to me and the adviser received more commission giving me this mortgage than better ones suited. As I said I was young and didnt really understand interest only.

I was contacted by someone saying I should make a claim. Its the new PPI apparently, so your phones will start ringing again

I wouldnt usually make a claim like this, but its always annoyed me that the adviser made extra money knowingly by offering me the wrong mortgage for me.

[Jaspercat10]

If you go on Habito, and just start filling out a mortgage application it will ask you a few questions in who your mortage is with there is a click down box with all current providers, so you may see it on there, but like others have said, others merge together or are taken over.