Comments on: Redstone Mortgages

By: Isla Ellis

Isla Ellis — Mon, 21 Mar 2011 14:55:16 +0000

Hi, we’ve had mortgage with Redstone for 4 years now, we are out of the fixed term but for some reason cannot get another mortgage! We have had no problems with them at all and have took a couple of mortgage breaks over the years without any hassle.

Only problem is its not portable so are stuck where we live!

By: joan

joan — Tue, 15 Mar 2011 17:19:54 +0000

the problems i have faced with redstone is i really think the staff dont know what thier doing i have spent the last two days sorting out my home insurance the company i have had insurance has sent the faxs telling redstone the policy is in place i think the total is 6 maybe 7 faxs and redstone deny any has been sent i was promised a phone call to let me know what was happning nothing happened i had to phone them yet again got told no nothing has come through to them i phoned the insurance company they even phoned redstone to say everything is in order but that was still not enough i phoned them back and after a very rude phone call was i told ohh yes the fax came through this morning so its ok now why or why cant they just have someone on board to deal with these problems maybe retrain staff on how to deal with customer problems instead of the customer sorting their jobs out for them

By: ian macfarlane

ian macfarlane — Fri, 22 Oct 2010 10:37:40 +0000

I too took out a mortgage with Beacon, next thing i know it had been sold on to redstone without my knowledge and boy did the interest rate shoot up. When i eventually managed to contact beaconj the woman i spoke to did not want to know and put the phone down on me. Since i have been with redstone all i have managed to do is get deeper in debt because of their “charges”.

By: Carol

Carol — Thu, 22 Jul 2010 07:48:24 +0000

I am a Redstone customer also, I think you will find that Redstone tookover Beacon and bought their portfolio, but so far so good for us, Redstone are like any other mortage provider, with the added emphasis on lending to people with pooor credit ratings, this is why i think there so hot on actions of taking peoples homes. How ever I do empthasise with people in tricky situations and I know like many of you it is a struggle, all i can say at the first hint of a finacial problem seek advice asap, DO NOT LEAVE IT TIL LATER. as later is often too late

By: Anne

Anne — Sun, 11 Jul 2010 18:06:04 +0000

Just in case anybody has any doubts about Redstone after reading all these warnings and complaints, all I can say is that we unfortunately got a mortgage with Redstone (was originally Beacon) and because we have to sell out house (down-turn etc.)and it will happen a few months before the ’2-year cut-off’ we now have to pay these people over £17,000 (yes, £17,000) ‘penalty charge’ PLUS the £5,000 they charged to arrange it in the first place. WE have contested through letters to the company but they are standing firm and have expressed absolutely no understanding for our situation. At the bottom of the letter it says if we are still not happy (you can say that again..) we can write to the FSA. Does anyone know if there is even the slightest chance we could get this horrendous and ridiculous sum reduced? Has anyone actually taken their case to the FSA and won? Any advice much appreciated!

By: Stella Tina Ade

Stella Tina Ade — Tue, 16 Feb 2010 21:51:19 +0000

How do I begin. I was sold to Redstone but to be honest they have worked really well with me. I am sometimes in trouble and they always are very understanding. Joined them in 2007.
Right now things are actually not good and they’ve been very understanding and sympathise with me.

They are okay and thats why am still with them since my fixed term expired.

By: toni

toni — Sat, 30 Jan 2010 12:05:40 +0000

i have a mortgage with redstone which again was with beacon and handed over to redstone. We have had this mortgage almost 3 years and they charged us over 1000 pounds to arrange it. We have never missed a payment. In the 1st year we weren’t sent a mortgage statement and i never chased this up, then this year we recieved one stating if we were to ever redeem the mortgage they would charge us an addtional 4000 pounds which i don’t remember seeing anywhere in my mortgage offer. I too arranged this mortgage with a reputable broker and it was the only option we had at the time. We are now thinking ahead and have our debts paid off minus the mortgage and actually thinking of moving in the next year or so, hopefully we can get a mortgage with a high st lender but will have to pay this extortionate fee when we redeem even though we are paying over the odds in interest already. I’m really not happy about my mortgage broker and thinking of complaing to the financial ombudsman

By: Jane

Jane — Wed, 06 Jan 2010 08:07:25 +0000

My property was repossessed by Redstone In Aug 09 & like many of you we took our mortgage with Beacon homeloans then out of the Blue were informed that Redstone would be our Lender,Unfortunately there was no help from Redstone,we paid a fee to have our mortgage Changed from Repayment to interest only which was never applied,when my husband left i kept them fully informed by written correspondence,Telephone calls etc,when i did make offer of token payments whilst i was sorting out my finances it was declined without any consideration whatsoever,In one telephone call to them i explained my circumstances once more & the guy asked me “well how much can you pay today?”,”£1,000? £500? £100?,”,i stupidly made a £100 payment,why i dont know i guess i was scared,This has never shown up on the account,just the same as the £75 arrangement fee for changing from repayment to interest only,i only wished i had the strength to fight it all,But losing my marriage,mine & my childrens home of 21 yrs,i just gave in,It has since been suggested to me that there is noone in a position/knowledge that knows how to deal with the more complex situation within that company,They are Basically money collectors & That is that.

By: Heather Todd

Heather Todd — Tue, 24 Nov 2009 20:01:18 +0000

We too were duped into the Redstone company by taking out a mortgage with Beacon Homes. Each year we receive a letter stating that Redstone have taken out Buildings insurance on our behalf as we do not appear to have any insurance and have taken the payments out of our bank account- each year despite sending them copies of our Buildings Insurance and even getting the Insurers to fax info directly to them I have to battle to reclaim the money they steal from our bank account.I think I have now defeated them after making it clear it is illegal to have 2 lots of Building Insurance on a property and that there practices are clearly of an illegal nature as well as unduly harrassing us every 12 months. We found out early last year that this is not a company to deal with as we had never had any CCJ’s or bad debt but we were not aware of this at the time. Unfortunately for us I have just had 12 months sickness including surgery and my husband is self employed. I am hoping to return to work in the next 3 weeks but my husband is having surgery on his shoulder and we have just found out the insurance he has will not be paying out for his hospital stay or income protection we were DUPED (yet again) into believing we would qualify for. So dont reckon there is much hope in Redstone allowing us a mortgage payment holiday for the next few months -However I will be contacting some professionals for advice since the government introduced the scheme last year! Wish us luck and good luck to all other victims of this Regime called Redstone, ACTUALLY DOES THIS NOT COME UNDER MIS-SELLING IF BEACON HOMES PASS US STRAIGHT ONTO REDSTONE WITHOUT OUR KNOWLEDGE???

By: l c tonne

l c tonne — Tue, 15 Sep 2009 09:37:49 +0000

I have just started renting a flat from a person who has a 100%mortgage with redstone mortgages plc.
I was doing a check on the landlord to how safe I was with them and discovered this site.
I just wonder how worried I should be.