Mortgage Mis-selling Archives | Gladstone Brookes

Blog Category: Mortgage Mis-selling

Calls for ban on P2P non-advised sales increased

Calls for ban on P2P non-advised sales increased

There are increasing calls for the UK’s financial regulator to ban peer to peer (P2P) non-advised sales as another firm goes bust.

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Standard Variable Rate (SVR) mortgages – the new PPI?

Standard Variable Rate mortgages – the new PPI?

Financial experts are beginning to suggest that standard variable rate mortgages may take over from PPI after the claims deadline of August 29th.

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HSBC pays $765 settlement for US toxic mortgages

HSBC has become the latest bank to pay a multi-million dollar settlement to American regulators to conclude its involvement in the mis-selling of toxic mortgage investments in the lead up to the financial crisis of 2008.

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Barclays sued in US over ‘craptacular’ loans

Barclays is being sued by the US Department Of Justice (DOJ) over the mis-selling of $31 billion worth of mortgage-backed securities after the regulator rejected a $2 billion offer of settlement in the case.

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Ten scandals have cost Britain’s banks £53 billion

New research claims that 10 misconduct scandals have cost the UK’s banks £53 billion in fines and other penalties since the turn of the century.

Think tank New City Agenda says the biggest of the lot has been the cost of mis-selling PPI for which the banks have set aside a total of £37.3 billion to pay out past and future successful claims – more than four times the cost of staging the London 2012 Olympics.

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Citizens Advice Warn about A Million Interest-Only Ticking Time-Bombs

Citizens Advice warn about a million interest-only ticking time-bombs

Citizens Advice has warned that almost a million UK homeowners have ticking time-bombs for mortgages and their homes could in danger of repossession.

New figures produced by the charity show 934,000 homeowners have interest-only mortgages and have no plan in place for how to repay the loan capital at the end of the term.

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Great Growth for 2012 – HSBC Approve over 15,000 FTB Mortgages

First Time Buyers

At the beginning of 2012, HSBC announced they would be making a minimum of £15billion worth of mortgages available to UK homeowners, with a specific £3bn provisioned for first-time buyers (FTB).
Come to the end of March 12, just under £5bn worth of mortgages had already been approved by HSBC for borrowers within the UK with around £1.2bn of this approved to first-time buyers.

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