Your mortgage may have been mis-sold if you were advised to take a mortgage not suitable for your needs, or on the basis that the broker would receive a larger commission.
You may have been mis-sold if you were advised to consolidate other debts by re-mortgaging or not informed of the fees and penalties by switching.
You may even have been overcharged your mortgage without your knowledge.
Mortgage mis-selling has occurred over a range of scenarios and we will assess your case on an individual basis.
Lenders and Brokers must have ensured that they checked that your mortgage was affordable for the entire length of the mortgage term and fully explained the differences between “interest only” and “capital repayment” and the fact if you did take out an interest only mortgage, then you may have to switch to a capital repayment mortgage in the future with this being a more expensive option in the long term.
In summary, your mortgage may have been mis-sold if you were advised:
To take a mortgage product not suitable for your needs (or your retirement date is before the mortgage ends).
To take a mortgage product on the basis that the broker would receive a larger commission, or not told the amount of commission the broker was receiving.
To consolidate other debts such as loans or credit cards by re-mortgaging.
To switch mortgage lenders without being told about any fees and penalties.
Have you been over charged your mortgage?
You may have made overpayments on your mortgage due to miscalculations by your mortgage provider and entitled to a refund worth thousands of pounds! Some lenders misallocated payments and applied incorrect interest rates. This may apply to you if:
You have ever fallen into arrears with your mortgage
You have been charged excessive fees (admin and arear fees)
Your mortgage provider paid your broker a fee which was added to your mortgage.
If you think you may have been mis-sold your mortgage contact us now!