0330 058 05 71           info@mis-soldmortgage.com

Mis-sold Interest Only Mortgages

If you’re thinking your interest-only mortgage was mis-sold you’re not alone!
For most of us our mortgages are by far the biggest and most important loan we will ever have. The mis-selling of interest only mortgages has been widely publicised confirming that thousands of individuals were mis-sold unaffordable, inappropriate interest only mortgages by financial advisors, brokers and lenders.

How do I know if my interest only mortgage was mis-sold?

Were you sold a mortgage by a broker or lender after 31st October 2004?
At the time you took out your mortgage did your lender, financial advisor or broker:-

  • Properly assess your individual circumstances?
  • Provide you with a recommendation reflective of your personal circumstances?
  • Provide you with information regarding all other options available to you?

If you have answered “no” to the above or are still unsure whether your interest-only mortgage was mis-sold call our friendly team today on 0330 058 0571 for a free, no obligation initial investigation of your particular circumstances.
Our expert teams can establish whether your mortgage was in fact mis-sold and the extent of your financial losses as a result.

Common issues arising from mis-sold interest only mortgages

The Financial Conduct Authority (FCA) regulates mortgage advisors, lenders and brokers and clearly sets out rules regarding the advice that must be provided regarding the sale of mortgages.
FCA/MCOB regulations state that brokers and lenders must ensure that the mortgage was affordable for you. Not just at the start of the mortgage, but also throughout the term of the mortgage.

Our teams realise that if your interest only mortgage was mis-sold you may have experienced the following issues:-

  • Inability to pay your mortgage
  • Unreasonably high fees [paid to broker, advisor, lender]
  • Negative equity
  • Inappropriate interest rates
  • Repossession

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