0330 058 05 71           info@mis-soldmortgage.com

Interest Only Mortgage Claim Information

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

  • On the face of it, it appears that lenders have been selling interest only and sub-prime mortgages to customers, who would have undoubtedly benefited from other products, however were not provided with other options.
  • You may have overpaid fees at the time you purchased your property or hidden fees may have been added to your mortgage, without you knowing.
  • Is your mortgage scheduled to end after retirement? If so your advisor had a clear obligation to consider your eligibility to repay after retirement.  If they failed to do so  your mortgage may have been mis-sold

For most buying a home is quite possibly one of life’s biggest financial decisions. It can be pretty stressful too. 

Banks, Financial Advisors and Mortgage Brokers all have a duty to ensure their customers  are protected.

As widely reported in the press, post- recession, it has transpired that the customers best interests were not priority for certain lenders.  It has transpired that some lenders are guilty of mortgage mis-selling.

Our team work hard and can help you assess whether your interest only mortgage was      mis-sold. 

The basics

  • During 2007-2008 it is estimated that more than 50% of interest only mortgages were mis-sold as individuals were not required to provide proof of earnings – according to the FSA. 
  • The FCA have issued fines to certain banks with trusted household names for serious failings regarding the sale of mortgages, such fines running into tens of millions.
  • The FCA established in the case of two banks investigated only 1% of 30,000 customers were provided with the correct mortgage advice
  • Interest only mortgages allowed individuals to own their homes with low monthly costs.

How to claim

  • It’s simple…our team will firstly undertake a FREE, NO OBLIGATION investigation to establish whether your interest-only mortgage was in fact mis-sold and, if so will then provide you with advice and assistance to take the next steps to ensure you recover any compensation you are entitled to. 
  • Working closely with a panel of specialist law firms we guarantee an excellent, personalised service. 

Still unsure?

Even if you’re unsure whether your interest only mortgage was mis-sold it’s worthwhile taking the time to enquire with us.    

CALL our friendly team today on 0330 058 0571.

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