What is a Mis-Sold Mortgage?

The term mis selling is defined as meaning that unsuitable advice was given to you, the risks were not fully explained to you or you were not provided with full, productive information. This in turn leaves you, the client, being left with a product that is not fitted to your needs. This too applies to your mortgage information. The Mis-Sold Mortgage Experts are equipped with the knowledge to deal with such circumstances.


How do I know if I have been mis-sold a mortgage?

To identify an exploitation in how you have been advised on your mortgage, it is important to know that there are of course a few indicators. Not enough research and findings were carried out on your financial situation during the sales process. An affordability assessment was not carried out by your sales advisor during his/her pitch. You were not advised on how you would be paying your mortgage once you enter retirement. It was not communicated to you that you would only pay interest on your mortgage each month. These are just a small collection of examples for mortgage mis selling. Unfortunately, a large number of building societies, banks and brokers can be held accountable for mortgage mis selling as a way of sourcing more money out of clients they are being trusted by. We understand this, and we understand that you may need help in this area.

 

How much compensation for mis-sold mortgage

As you would expect, if you feel you have been a victim of mortgage mis selling, you may be liable for mis-sold mortgage compensation. By contacting The Mis-Sold Mortgage Experts, we can help you in finding out what you are owed through your claim and help to meet your financial needs. Our initial approach is to ask you a few simple questions and cater to the situation, whether it be due to the mortgage being interest-only, running past retirement age etc. This will then impact our goals in combating your mistreatment and triggering a goal to extend to you a suitable amount of mis-sold mortgage compensation.

How is compensation calculated?

It is the requirement of a company to follow guidelines provided by the Financial Security Authority (FSA) in order to calculate how much, you can claim if mortgage endowment mis selling occurs. This can involve relating a client’s current financial condition to the position they alternatively could have been in had they taken out a repayment mortgage. If you contact us quickly (as there are limitation periods when dealing in mis selling claims) we are happy to assist you in these dealings. The Mis-Sold Mortgage Experts will support you and calculate how much you are owed swiftly and appropriately.

How to claim on a mis-sold mortgage

  • How to complain about mis-sold mortgage
    We understand that approaching a company to protest how you feel you have been treated can be a difficult situation, especially if you are unsure of how to approach it. The Mis-Sold Mortgage Experts offer guidance on how to approach your bank or building society to ensure everything is handled appropriately. We will steady you through the process and we intend to help you get back every penny you are owed in due course through mis-sold mortgage compensation.
  • Mis-sold mortgage letter template
    In terms of when it comes to formally contacting the company in question, our skilled team of mis-sold mortgage solicitors are more than capable of helping you put your concerns and discontent in writing so that the company instantly understand the situation they will have to deal with.

Mis-sold mortgages success stories

  • In 2010, Mr and Mrs Adam Brennan sought a loan of £75,000 from a well-recognised company to enable them to pay for construction of a new apartment building, hoping to meet requirements through the rent it would make. Unfortunately, the building never got past the planning permission and left the couple with no way of making repayments. The company insisted their policy did not coincide with requirements to give advice on what finance would be a proper fit. Mr Brennan contacted The Mis-Sold Mortgage Experts and from looking into the situation, we decided to side with the complaint the couple were wishing to make. With our assistance, the company were required to repay the loan, plus mortgage arrangement fees and interest payments. Mr and Mrs Brennan were awarded £900 due to upset caused by the misdealing.
  • A 2011 affair we were involved in seen Roger Elfman contact an establishment to acquire a mortgage to purchase his house in Bournemouth. Elfman was given a large sum but found that once he entered retirement he was unsure of how he would be making repayments on his home, having told the trusted establishment that his retirement was a mere few years away. Though he was told that they discussed terms during their initial sales process, Mr Elfman contacted us at The Mis-Sold Mortgage Experts to seek help in mis-sold mortgage compensation. A fair sum was made back to Mr Elfman thanks to our involvement and the client was happy with the compensation made for upset and trouble caused.