Advantages: An excellent sub prime lender with very competative rates Disadvantages: They only deal with brokers or mortgage packagers
...review on this site for Future Mortgages I immediately became disturbed at the reactions and negative feedback that so many people have had towards this particular mortgage lender.
However, after digesting each review it became apparent to me that, although they are from personal opinion, and of course, we are all entitled to our opinions, I felt they were unfairly directed towards the mortgage company itself.
Many of the complaints were focusing ... ...the money!
Also, since Future Mortgages rarely, if at all deal direct with customers to sell their products, it is not their fault if someone has been miss-sold a product. I would suggest that would be either the responsibility of your chosen mortgage broker, and frankly, there are some unscrupulous characters out there that do not explain things well and do take advantage of their customers' good nature and naivety.
If you are going to have a ...
Pixie1979 05.01.2008
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Ciao members have rated this review on average: very helpful Review of Future Mortgages
Advantages: The future? A means to the end?? Disadvantages: Adds on galore, usually well hidden
...the future. Hmm, for some Future is the future, for many more, future only disrupts and destroys the future, well the foreseeable anyway. Although they serve their purpose in the sub prime mortgage industry (at a hideous cost) most of my experience of Future while I worked in the industry was seeing yet another sub prime lender "home in on consumers who are financially stuck or lacking the standard criteria to go to high street such as on insufficient ... ...payments seeming more often, the future is often bleak. - How long will Future be your future? Many sub prime lenders, Future included tend to sell their mortgage accounts, willy nilly, one minute you are with Future, the next minute you have been sold to a company which you specifically choose not to lend with. Not only is it totally cheeky, but you always end up with higher payments and when you choose to read the small print of the smaller section ...
jjllss 19.11.2007
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Ciao members have rated this review on average: very helpful Review of Future Mortgages
Advantages: To be fair I am finding it hard to thing of one. Disadvantages: Customer service is bad. Promises not kept. Do not solve queries or communicate.
...be transfered.
I joined Future Mortgages on a 6 month variable discount rate of 6.8%. After the 6 months then the rate would increase to 7.980%. As it is variable my acccount would be review every quarter.
There first mistake was to take me off the discount rate before I made the first payment. It took me 6 phone calls, including speaking to a supervisor before they understood what they had done. This conversions were getting quite heated by the ... ...let me know as I would be interested to find out whay on is when it comes to "Future Mortages."
On my ending note all I can say is if I treated my customer like Future Mortages have treated everyone who had review them - I would be Sacked! ...
Symbol0683 21.12.2005
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Ciao members have rated this review on average: very helpful Review of Future Mortgages
Advantages: I can now get through on the phone in 15 minutes instead of 45! Disadvantages: Where do I begin!
...told it would be with Future Mortgages wasnt much worse - maybe in the region of £20.00 per month which wasnt breaking the bank.
After what felt like decades with the Mortgage broker we signed the paperwork and left that day to a warm smile, a welcoming handshake and told "All you have to do now is find your house".
Within a week we had found our new home, the offer had been accepted and the mortgage process began. From the word go it was stressful ... ...and wage slips. Future then came back asking for further documents, which we sent right away. This was about the 3rd week in November. They came back on a further 6 or 7 occassions asking for more paperwork. To the extent where I was waiting for them to come back and ask for blood as proof that we were human. The asked for every document you could possibly imaging but rather than ask for it all at once they spread their requests over a fortnight. ...
honey2cm 19.01.2006
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Ciao members have rated this review on average: helpful Review of Future Mortgages
Advantages: None whatsoever Disadvantages: Pig ignorant, bullies, absolutely brainless moronic staff, criminally high monthly increases in mortgage payments
...say, after several years with Future Mortgages they arejust about the worst company I have ever had the misfortune to deal with. Even with my qualifications in Nursing/Training/Stress Management/NLP/Coaching they reduce me to a quivering wreck on occasions. There are many many reasons to avoid them altogether. Firstly, they offer you a fixed rate which seems reasonable, especially of you have credit problems and are therefore limited on choice. Secondly, ... ...hike up your repayments by £100 per month, then EVERY month after that it is increased even further, usually by £20-30. My mortgage was originally £600 per month. I have just had another mortgage increase letter (the second this month). It is set to go up to £825 per month. Interest rate 8.34%. There is no way of finding out whether they just pluck a figure fromthe air or whether all customers pay this rate. These people are PARIAHS feeding on vulnerable ...
leapyearnurse 29.08.2007
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Ciao members have rated this review on average: helpful Review of Future Mortgages
Advantages: Being signed off work due to the stress of the mortgage!?? Disadvantages: Oh far too many....
...a family problem and future mortgages have made our life hell! We went to the county court after trying to stop this by speaking to future morgages who where basically a joke-so unhelpful-do not bother! Then we came to an agreement via the court to pay an extra £25 pm to clear our arrears. Three days later we are told our morgage will be going up tp £654 pm from £590 not including arrears-our mortgage began at £420 16 months ago!!! We are now unable ... ...and if the rate goes up again we will have to let them reposses the house leaving me,my husband and 2 daughters homeless and no doubt with an even worse credit rating.
They should be stopped,have no concern for anything but money and how the hell are they allowed to put up interest every month by £30-£100 each time I have no idea! If any one knows how we can stop this ridiculus rise please let me know. I have had to leave other bills just to keep ...
mrs.pip 29.06.2007
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Ciao members have rated this review on average: helpful Review of Future Mortgages
Advantages: None whatsoever Disadvantages: Appalling service, arrogance, maladministration, failure to adhere to contract
Pity there isn't a 'zero star' rating.
Seemingly illegal/inappropriate charges (2 default judgments would suggest so), inability to meet a Subject Access Request on time (another default judgment), the inability to express terms in "plain, intelligible language" (Section 7 of UTCCR 1999), and for example:
1) Poorly defined "3 month LIBOR" as rate to which premium added;
2) FM seemingly unwilling or unable to provide published source of the "3 ... ...equate to any published by the British Bankers' Association;
4) Wrong interest rates set and fixed on the wrong dates; and,
5) An iffy looking Early Redemption Penalty that does not seem to be a genuine pre-estimate of damages.
In my opinion, don't go near FM. If you have, maybe you've got scope for a few claims (particularly if it's no longer your mortgage provider).
Take a look at www.futuremortgages.blogspot.com ...
EFFEM 19.11.2007
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Ciao members have rated this review on average: helpful Review of Future Mortgages
Advantages: NONE Disadvantages: EVERYTHING - THEY ARE TERRIBLE!!
...simply refuse to deal with future mortgages. The debt management policy is very simple. pay or be taken to court! They specifically ask if you would like to pay your monthly mortgage repayment with a credit card, when I then asked to be put through to a SENIOR manager, he confirmed that this would be the best option.....WHO for? Certainly not the customer!! I am now in the process of changing my lender but will end up with a cost of around £3,000 ...
Markperry100 28.10.2007 (27.10.2007)
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Ciao members have rated this review on average: helpful Review of Future Mortgages
Advantages: Rates are competitive Disadvantages: Nightmare
...for a mortgage deal and Future topped the list. The charges are a little on the high side and it is very expensive once the lock-in ends, should you decide to continue with the mortgage due to it being linked to LIBOR (which is some kind of average rate that banks charge each other to borrow money, i think), plus a high percentage on top. To buy out of the Lock-in costs thousands of pounds, so it is best to stay with them until the fixed deal ends.
... ...cheaper lender.
The problem with Future is not so much the figures and with it offering deals only through a broker, you shouldn't need to worry about paperwork, but this is not what happens.
We applied for a decision in principle and found a beautiful house. We made an offer and because it was just before Christmas, we expected a delay in processing the application, little did we know that hell was around the corner.
In the new year, the lies ...
salva_nos 04.02.2006
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Ciao members have rated this review on average: helpful Review of Future Mortgages
Advantages: None Disadvantages: No meaningful customer service, complete lack of ownership.
...- this was transferred to Future in around 2001. I have raised concerns on 3 occasions regarding whether the loan will actually perform as per the agreement, and finally, as part of an ongoing 7 month old complaint, Future agreed that unless I paid a further £7000 on the loan over the remaining term, it would not in fact redeem. I complained on the 21.6.07, I complained to the chief executive - Mr Ian Kerr on the 21st December, but I still have had ... ...manager would speak to me, and the person handling my complaint told me he referred this to Mrs Diane Pazucira. Mrs Pazucira apparently declined to speak to me.It seems that my 7 month wait for complaint resolution is not out of the ordinary - if it was surely any reasonable Manager would take the time to speak to a customer who is being treated in such a poor way !
I have claimed the £7000 back plus £750 gesture of goodwill to acknowledge the time ...
Wronged 16.01.2008
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Ciao members have rated this review on average: helpful Review of Future Mortgages
Advantages: Got a better deal else where Disadvantages: Sleepless nights and worry, clueless
FULL OF BROKEN PROMISES....
Future made us an offer for our dream house and 7 days before the move they pulled the plug on our 100% mortgage due to reducing mortgages to 90%. They ruin peoples lives. STEER CLEAR. We had to pull out of this offer as we couldnt afford 90% and thanks to a brilliant broker, got a mortgage with a main stream lender and at a lesser rate than Future. Future have no thought as to the stress and pain they are causing to ...
Devestated 19.11.2007
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Staff courtesy
Promptness of service
Quick review of Future Mortgages
FM is THE WORST company I have EVER dealt with. Their staff are thick, rude, lazy and generally some of the most unhelpful people you could wish to deal with. They made so many mistakes with my mortgage application, the approval process took ages and some of the things they asked for were just ridiculous and once they had approved me as a customer they kept on asking for information I had already provided them with several times. My house purchase almost fell through because of their incompetence. I would rather stick hot pokers in my eyes than deal with FM again. ...
Hoolio1973 16.07.2007
Ciao members have rated this review on average: helpful Review of Future Mortgages
Advantages: None Disadvantages: Everything you can think of. These people are Evil
...requesting a redemption figure from Future and now they are charging me an extra £5 per month on top of my Mortgage until the balance of the mortgage is paid off.
Future must also train their staff on how to have a disgusting attitude. The are the only company i have ever had shouting profanities down the phone to me. The only company where i have received a knock on my door by a very arrogant and bad tempered representative making threats to me ... ...a bad heart and she has also had to deal with this kind of treatment. If after reading all of this, you feel that this company is the company you want to spend the next 25 years paying your hard earned cash to then all i can advise is: DO NOT make any late payments. ALWAYS make sure that when you do pay your monthly instalment, that it is not a penny short. ...
ds201 15.04.2005
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Ciao members have rated this review on average: helpful Review of Future Mortgages
Advantages: NONE AT ALL Disadvantages: Made me want to cry every day I had to deal with them
...looking at our credit file Future Mortgage would indeed lend us 100% of the property value; as you can imagine we were delighted. We then went off to look for a house. A few weeks later we found a house we loved and then pressed forward with the application with Future, appointed a solicitor and started packing our belongings. With the application we wrote a cheque for £195 to cover the cost of the valuation fee, which we were told would only be ... ...found surprising and discusting with Future Mortgage and feel that this should be highlighted to prevent anybody else ever dealing with these people.
1.A week after our application was submitted our broker came back to us with the disappointing news that we had been turned down for a 100% mortgage - I found this surprising as surely after already looking at our files and "approving" us there was nothing new that they didn't already know - if it ...
kayemartin 04.09.2006
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Ciao members have rated this review on average: helpful Review of Future Mortgages
Advantages: None unless you are refused EVERYWHERE else Disadvantages: Outrages charges, cheeky staff, no help if you are in difficulty.increase rates repeatedly
Due to illness, we fell into arrears with this company and the minute the arrears went over 3 months, they threatened to repossess. We had kept them informed for several months before and told them the house was on the market. They stated they would give us 8 weeks to sell, but didn't. Basically, they lied to us and our solicitor and went ahead with court action even though the house was sold and we had a moving date. They made £100 instructing a ... ...charge £50 EACH MONTH you are in arrears, although it costs them nothing. We are suing them for their excess charges as they are no different from banks when it comes to this and would advise anyone else in the same situation to take them through the Small Claims court. They cannot defend this. They are impertinent on the phone and totally unhelpful and unsympathetic, despite being a member of Citigroup, who claim to follow all the relevant codes. ...
kittenkat2 09.05.2006
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