Mortgagesplc Reviews 20

After 18 years of appalling abuse by Mortgages Plc AKA Mortgaes 1 Ltd - they are now known as Wave Lending, a change of name to conceal the negative reviews from being associated with them and which are well deserved. I had my home repossessed in January 2025. I am a pensioner and have had to resort to sleeping in my car ever since. They sent a debt collector to my home who burst his way into my home at 8 am one morning and knocked me to the floor, leaving me injured with a severe hip, leg and shoulder injury, a neighbour slamming a car door made the thug bolt amid threats that he would be back. They lied in court and humilliated me, which has caused me a breakdown and I am now very seriously ill and haven't got long to live. I have been charging my phone off my car battery and struggling to live on my £125 pw pension. I lost my job when I lost my home and all that was in it. I think this company are ardent criminals and they play dirty as do their equally nasty lawyers TLT who are as smarmy and obnoxious in court as were Mortgages Plc - Sarah Green was their representative from Mortgages Plc and she is a former director of Mortgages Plc but is now a director of Wave Lending, as with the other former directors of Mortgages Plc. They are also connected with another rogue company based in their Skpton HQ by the name of Computershare AKA Computerserve who handle the dodgy mortgages that are held by Mortgages Plc, one of which was mine, which was mis-sold me and I, despite proving forged signatures on the part of Mortgages Plc still had my home repossessd. I lost both of my parents and all of my family over the trouble caused by Mortgages Plc, the shock of the repossession caused my parents a heart attack and Isuffered one too and yet they now have possession of my home and they have been marketting it for over £100K less than its value, since January 2025, I think they are dragging out the sale to hammer me for more of a shortfall but I have nothing now execpt the old car I have been forced to sleep in, which like me, is on its last legs. I am sleeping in parking spots and alone and scared at the age of 68 in failing health I have no money for a new home and the councils are refusing me housing as all of the migrants coming into the UK illegally are getting the houses available. I would be terrified of being traced as I fear another attack by their thugs. I would recommend that all of you looking for a mortgage avoid this vile company and Wave Lending. The Bank of America own Mortgages Plc and they like Computershare, Computerserve, Wave Lending, Mortgages Plc and TLT solicitors have very bad reviews on here and with very good reason. I empathise with all of you suffering the abuse they are doing by this awful company. Steer clear and watch your back they are lethal and should be carrying a government health warning for what that's worth. The Ombudsman service is also on Trustpilot with very negative reviews as with the other companies I have named above. I can endorse all other negative reviews on here for all of the above as someone who has suffered the same appalling abuse. They need sending to jail for their abuse, they are cruel and danerous. They think they are above the law and the law does NOTHING to protect you from their abuse which is a disgrace. Wild West Britain. I reported the attack I sustained to the police but they did nothing as they said that as I had no CCTV to capture the attack they couldn't help me. How awful is that? We are not safe in our own homes anymore or in the UK as things are.Mortgages Plc have wrecked my life on all levels, I wish to God I had never signed up via a dodgy mortgage broker called Park Row Associates for this mortgage back in 2007. They raised my mortgage from £676 per month at the end of the lockdowns to £1,913 in september 2024 knowing that I couold not afford that and that it would facilitate repossession just before my 20 year mortgage term was up. hey are tactically devious and dishonest. Horrible horrible people in a horrible horrible company and they have got away with far too much. They are able to get away with it as they have sly lawyers for which you pay the fees. AVOID at all costs please.

Mortgages PLC are without doubt the worst company I have ever had the misfortune to deal with. Fortunately they do not accept new customers but unfortunate for the customers who are mortgage prisoners of this company and there extortionate interest rates

Would give a 0 if I could this company absolutely scanned took mortgage with themselves in 2007 29,000 with charges etc had extra for home improvements bringing to 43,000 in 2007 and upto February 2025 balance is 39,000 how can this be possible my house will never be mine with this interest they getting out of me scandalous company avoid !

Interest rate now of 8.9 is beyond greedy. You call they give confessions, not actual help. Only after your cash and don't care your payments have gone up £400 and that is causing you to lose your home. Avoids explaining why they put rates up higher than the base rate, as they don't give a toss who they make struggle financially. Bought by Americans this year, and the ONLY change is they now have an online portal for you to give your cash quicker! My mortgage is half my wage now, what an absolute crap lender, and if they are ever trading again, please, please don't entertain them, read about the Mortgage Prisoner's plight. There are decent reputable lenders out there, I wish I'd got one.

I concur with comments by K Stevens dated 7th Feb 2024. I was very disturbed to hear your story Mr Stevens and hope there is some light somewhere for you. I have had a similar story and experience. In my case it was a property investment club called TIC "The Investment Club" who were very active in 2007. I also believe that they were engaged in fraudulent transactions / activities and were in cahoots with Developers, Letting agents and Conveyancing firms. In effect they were massively inflating prices that their innocent members paid without realising it. TIC declared themselves bankrupt in about 2007, when articles appeared in news papers, and TV programs about the scams that property clubs were running. I am told TIC went to Australia and set up again under different company names but same people in different roles. My mortgage was with Freedom Lending, who later sold out or were taken over by Wave, who are now part of Mortgages Plc. I am in massive negative equity and have used all my life savings to pay the very very high mortgage rates being charged and as a result becoming more and more in arrears. I have finally woken up after years of denial and blocking out reality and am hoping to fight back somehow. I also contacted the Financial Ombudsman and Financial Service Compensation Board but as I did not complain within 6 years, due to a quiet mental breakdown I was having, it was too late, end of story. There are many many more people who I knew were also scammed with nowhere to go. Take care K Stevens.

Absolutely no help at all when you've got an interest only mortgage.
I have 8yrs left & have tried to pay extra off each month but when the normal payments are so high due to increasing interest rates, there's no chance.
Offer no constructive advice about re-mortgaging just tell you if you can't pay at the end, we'll repossess
There's even a tick box at the bottom of this review so that they get a copy but I bet nothing happens

I just finally found out how to contact Mortgages PLC, which you have to be a detective to find, once I got through they were no help whatsoever. I wanted to see if they could help with my interest only mortgage, but they were as much use as a chocolate tea pot. I wish I had got my mortgage with another company now. I would not ever go to them again, no wonder they were sold.

Been with them over 16 years. Yes they help in terms of time but boy do they charge.....wouldn't ever touch again with a barge pole

The Mortgage plc does not even deserve a one-star. Very poor communication. Call center staff are useless, they always say they do not have access to all information - only the back office has access. I'm 60 years old and have an interest-only mortgage and left 6 years left on the outstanding, however, I tried to pay some of my hard-earning money to clear the balance, but they kept it for almost 2 months without informing me. It did happen twice. When I called to check the outstanding balance, I realised the money had not been credited. I phoned their customer service, but unfortunately, the customer service has no clue what they are talking about. Each time they tried to give a different reason why they were keeping the money. Their interest rate is so bad. They only care about their benefits. I do not believe they comply with the Financial Conduct Authority. This company should not be allowed to continue... It caused me stress. I would rate it to 0. I think Trustpilot should not have an option for one start for Mortgage Plc. Even though I sent all evidence of the source of income, they said they had not received them, and their letter communication takes almost 3months to resolve any problems, however, if you are paying the mortgage late for a month, they will respond so quickly and add default charges as well.

Very high interest rates terrible company

Absolute nightmare to deal with, the amount of monthly expenditure forms I have filled in and sent is shocking, they insist I've not sent them so my details are not updated, they are oblivious to the relentless interest rate hikes over the past year or so, my payment has gone from £250 per month to £600. I have an IVA calculated on the £250 but they seem to think I can click my fingers and magic money out of thin air, call centre staff are useless, managers don't listen, biggest mistake I made switching to these clowns all those years ago...

Absolutely shocking had a mortgage with this shower avoid like the plague if I could give minus 10 stars I would

I sent Mortgages PLC a complaint in June about overcharging interest on my account and am still awaiting a proper response. Each month, the payment is taken from my bank account during the middle of the month but appears to be credited to the loan account only at the end of the month. The additional cost per month is low but adds up over the years and if the same practice is applied to all their loans the additional revenue would be a tidy sum. This practice may have been acceptable in the days when loans were administered manually by clerks but is not acceptable now. I have made a formal complaint to the Financial Ombudsman and await the result of that initiative. In the meantime I urge all mortgagors to have a look at their interest payments to ensure these are being calculated correctly.

There interest rate is 8.5% I’m struggling and they don’t care
Why is there rate so high
I’ve told them I’m worried as it has gone from £1,000 to £2,300 and will be going up again
There answer is down size or find a better rate

This company are great when you are paying your mortgage up to date. However, they have no understanding of the impact thirteen consecutive interest rate rises are doing! So they blame their borrowers, harrang them and threaten extra charges! Even when you are responsible and contact them! They only want a budget to work with you but clearly don't understand you can't do a budget when everything goes up monthly, even weekly or daily!! They are still in same bubble as before the crisis and offer no plan of help! Avoid! Yet they are not taking new clients anyway! Unfortunately, I have to give them one star here as I cant give no stars it appears!

What a waste off space this company is. They will not deal with my solicitor as he asked for my redemption letter firstly they said it would take 5 working days, after a week nothing so my solicitor rang again to be then told we have to send it to the client and they have to ring.
So I rang which they said to me I would receive in 5 working days on which I had to tell the buyer that the dates moved due to my mortgage ppl.
After a week again nothing, rang back up they had just posted it that day another week my house had to be prosponed in selling. Then they said my solicitor can fax them all the paper work if I signed a document to say that my solicitor was acting on my behalf.
Finally light at the end off the tunnel I got another date to finalise the property I was selling to be told on the after off the sale it wouldn't be that day as mortgages plc hadn't received all the paper work from my solicitor so another 2 week late now and interest has gone up. Thank you for wasting 18years off my life plc I will not be back.

Have been a customer of mortgages plc for over 15years and I am now remortgaging onto a fixed rate, my solicitor has been asking since 02/08/22 for the redemption statement and they keep on saying they have never received a fax asking for it but have admitted to speaking to my solicitor on the phone and she did ask for it but since it hasn't been received by fax (they have faxed the request 6 times now and I have phoned numerous times) they won't release it. I asked for it to be posted to me and 7 days later they say it is getting posted now so I now have to wait and see if it arrives in the post. for some reason they are reluctant to let me re-mortgage and are holding up the whole process. I am not sure if the FCA or financial ombudsman can be of any help. The stress this is causing me is unbearable

If I could give no stars I would. MPLC mortgages plc was owned by Merrill Lynch when I took my mortgage out and was later sold to or taken over by Bank of America holding. I have been a customer for 15 years paid on time and this month I moved home. I had to call mortgages plc in order to get a redemption statement that my solicitor had been chasing. I had the very unpleasant experiance of dealing with Emma Jane in thier call centre who advised mortgage statements take 5 working days there are no exceptions and they have to be faxed. When I explained my solicitor had already exchanged on the transaction and unless she could me as a customer of 15 years I would be as significant financial risk she advised it was not her problem and could not and would not help speed things up. She refused to put me through to a manger and was completely unsympathetic. This person offered zero customer service. After obtaining lithe name of her manager I called back later and asked to speak to him. I ended up speaking to another lady who sorted it right away. Mortgages plc just added another level of stress to an already stressful process. I would avoid mortgages plc and any Bank of America owned lenders as in my experiance service is very hit and miss and their call handlers can be callous. Avoid Aviod Aviod