Was your mortgage mis-sold to you? Are you struggling to meet your repayments or stuck with a mortgage in retirement because the product was not right for you? You could be entitled to thousands in compensation - fill in our form today!
A mis-sold mortgage is simply a mortgage that was not sold in the correct way either because the borrower received poor advice or the product was unsuitable for their needs.
No. Your lender cannot treat you any differently as a result of a mis-sold mortgage claim. Even if you have other financial products such as a bank account or credit card your relationship with your lender should remain unchanged.
The simplest answer is greed. Lenders made a big profit from hefty fees attached to mortgages and as such, in many cases did not act in the customer’s best interest. Some customers were sold interest-only mortgages that were not suitable for them and as a result find themselves stuck with a huge debt they cannot clear.
Others were sold their mortgages in retirement, despite the fact they had no regular income to make the repayments. Some borrowers were advised to take on sub-prime mortgages, which were more profitable for lenders, when they were actually eligible for much better deals.
Time scales can vary. Once we have made an official complaint on your behalf your lender will have eight weeks to respond to it. That response may contain an acceptable offer of compensation. Alternatively negotiations may ensue or your case may be referred to the Financial Ombudsman but rest assured we will be with you every step of the way.