17th January 2019
Put simply, mortgage mis-selling is when a broker or adviser recommended a mortgage product that was not suitable for their client’s own personal circumstances. Not having a mortgage that suits your requirements can put someone in financial difficulty or even see them faced with losing their property altogether.
There are a few different ways that you may have been mis-sold a mortgage. For example;
You may not realise until many years down the line, or when it comes to selling the property or renewing your terms that you have been mis-sold your mortgage product and the effects can be devastating.
Problems may include rapidly increasing interest rates, being out of your depth with monthly repayments, being in negative equity, feeling ‘trapped’ with your current provider due to penalties or fees and inability to re-pay the mortgage.
In order to qualify has having been ‘mis-sold’ at the time that you took out the mortgage the mortgage adviser; lender or broker will need to have failed to assess your circumstances (e.g. not enough information taken or the information provided being ignored). They would also have failed to give you sufficient information about the terms of the mortgage and failed to provide you with a recommendation that suits your needs.
If you think you may have a claim, please get in touch with our team today on 01256 844888 or email firstname.lastname@example.org
Head of Personal Injury & Mortgage Mis-Selling
Lamb Brooks LLP
39 Winchester Street
f: 01256 330 933
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