Please note that you may make a claim directly to your lender and/or the Financial Ombudsman Service without using the services of our firm or incurring any fees.
Are You Worried About Your Mortgage?
Ask yourself these questions:
- Was your mortgage suitable for you?
- Did your mortgage advisor properly establish your attitude to risk?
- Was any fact-finding procedure completed during the sales process? Did your adviser obtain comprehensive details of your financial situation?
- Were options for repaying the mortgage, such as a repayment vehicle, discussed with you?
- Did your adviser discuss that you would only be paying interest on your mortgage each month or how you would repay your mortgage when it is finished?
- Did your adviser conduct an affordability assessment?
- When applying for your mortgage, were you asked to prove your income? Did your adviser encourage you to take out a ‘Self Cert’ or ‘Fast Track’ mortgage so there was no need to prove your income?
- Did your adviser discuss how you would meet your mortgage payments once you retire?
- Were you sold a sub-prime mortgage when in fact there was nothing wrong with your credit history and you had never been refused credit before?
If you think you may have been mis-sold a mortgage, you may be entitled to a refund. Mis-sold mortgages can include a number of situations, such as being misled about the terms of the loan, not being informed of the risks of taking out an interest-only mortgage, or being misled about the eligibility criteria.
Mis-sold mortgage claims are becoming increasingly common, and can result in substantial refunds for those affected. It is important to understand the process and know your rights when it comes to claiming compensation for a mis-sold mortgage.
The Financial Conduct Authority (FCA) regulates the financial services industry in the UK, and is responsible for ensuring that mortgages are sold in a fair and transparent manner. If you feel you have been mis-sold a mortgage, you should contact the FCA to report the issue.
In order to make a successful claim for a mis-sold mortgage, you need to provide evidence that you were misled or otherwise affected by the sale of the mortgage. This includes any documents you have from when you took out the mortgage, as well as any records of phone calls or conversations related to the sale.
You can also use a mis-sold mortgage calculator to determine the amount of compensation you may be entitled to. This calculator is designed to help you work out the amount of money you may be able to claim. It is important to remember that the amount of compensation you may receive could vary depending on the individual circumstances of your case.
If you are considering making a claim for a mis-sold mortgage, it is important to seek legal advice. A specialist solicitor can help you to understand your rights, and advise you on the best course of action to take.
Martin Lewis is a well-known consumer rights expert, and he has spoken out about the importance of claiming compensation for mis-sold mortgages. He has also spoken about the average amount of compensation that could be received for mis-sold mortgages, and in some cases this could be up to £50,000.
When it comes to making a mis-sold mortgage claim, it is important to remember that there is a time limit for doing so. In most cases, you must make a claim within six years of taking out the mortgage.
If you think you may have been mis-sold a mortgage, you should take the time to understand your rights and consider making a claim. With the right advice and a good understanding of the process, you could be entitled to a substantial refund.