Mis-sold Mortgages

Unfair and mis-sold mortgages have become a widespread problem in the UK over the last 10 years, with many home owners paying over the odds for their home loan. The Financial Services Authority (FSA) have tried to stop occurances of mis-selling  becoming commonplace by regulating mortgage brokers, but unfortunately the scandal of mis-sold mortgage deals is still happening.

Many home owners have been sold a mortgage which did not meet their requirements or was over-priced and as a result they are now struggling to keep up with the monthly repayments of their loan. In some cases, mortgage brokers and lenders were selling mortgage deals to customers without disclosing information about specifics of the mortgage they were signing up for.  Brokers and agents were even encouraging their clients to artificially inflate their income for the purpose of getting a higher mortgage. To find out more about getting your mortgage refund or to get a claim started, simply call free on 0800 000 0000 now or fill out the form above for a no-obligation review.

These practices are completely contradictory to the Mortgage Conduct of Business (MCOB) Rules which were introduced by the Financial Services Authority in 2004.  As a result, a lot of home owners have filed complaints to the Financial Ombudsman’s Office in an attempt to get back money that was unfairly paid for inappropriate home loans. Even after fines were issued to brokers and lenders, it did not stop the practice of mis-sold mortgages as levies were often less than the commission and profit earned from the mortgage deal.

Many people across the UK who have been mis-sold a mortgage are wondering when the Financial Services Authority will do something more positive about stopping the mis-selling of such important loans. In the mean time, a growing number of home owners are taking the initiative and putting in a claim to get their unfair mortgage money back from lenders. To find out more about getting your mortgage refund or to get a claim started, simply call free on 0800 000 0000 now or fill out the form above for a no-obligation review.