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Mis-Sold Mortgages Claims
What should I do if I’ve been mis-sold my mortgage?
Purchasing a home and taking out a mortgage is often the biggest financial commitment that you will make in your life. The mortgage that you take out must therefore be suitable to your needs and meet your financial constraints.
When you take out a mortgage you are reliant upon the advice provided to you by your financial advisor, lender or broker. Sadly, TRUE Solicitors have found that many of our clients have received bad, and at times, inaccurate advice from advisors, lenders or brokers. This has led to many people facing financial hardship from being left with mortgages that they cannot afford to pay.
How do I know if I have been mis-sold my mortgage?
You may have been mis-sold your mortgage if you received advice from your broker, lender or financial advisor that neglected to:
- Make appropriate recommendations that reflected your individual circumstances
- Provide you with the all of the necessary information regarding the options available to you
- Thoroughly asses your individual circumstances
Typical problems caused by a mis-sold mortgage
Problems arising from mis-sold mortgages typically involve:
- Loss of money as money as a result of the advice
- Incapacity to meet monthly mortgage repayments
- Property repossession
- Negative equity in property
- Unsuitable interest rates
Mis-sold mortgage examples
You may have been mis-sold your mortgage if you:
- Were advised to take out a mortgage that worsened your existing financial position and was not suitable for you
- Were advised to take out a mortgage in order to raise money for an investment
- Were advised to take out a mortgage that will end after your retirement age date
- Received advice regarding switching lenders, without being informed of the associated fees or penalties
- Were advised to borrow money by overstating your income
- Were advised to borrow money without proving your income (self-certification)
- Received advice to purchase an interest-only mortgage, but weren’t told of the consequent repayment of capital.
- Were advised to switch mortgage without being informed about of the commission payments being paid to the financial advisor by the money lender.
How TRUE Solicitors can help you with mis-sold mortgage claims
If you received any of the above of the above advice from your financial advisor, mortgage broker or lender, and were not fully aware of the risks that the investment posed, TRUE Solicitors LLP can help you recover the compensation you deserve.
For a free, no obligation initial assessment contact us now on 0844 854 7000. Alternatively, you can email us at firstname.lastname@example.org, or submit an enquiry via the form on our website, and we will contact you without delay to discuss your case.
Our ‘No Win, No Fee’ service gives our clients peace of mind.
Gather the information required to investigate your claim.
Submit a claim with the financial advisor or governing body.
Fight hard to win maximum compensation in the shortest time.
How Long Will My Claim Take?
Cases can take 6-18 months to conclude when dealing with mis-sold mortgages, although this depends on the time taken to gather the evidence and whether or not the financial advisor or governing body admits liability.
"Any occasion where solicitors have to become involved can be a daunting prospect. True were kind, caring and honest on all levels, they made me feel I had someone there every step of the way and concluded the matter promptly."