Were you mis-sold?
Mortgages
Mortgage mis-selling can have serious consequences for your financial stability, whether it involves being offered an unsuitable product, facing hidden fees, or not receiving proper advice on affordability. If you suspect that your mortgage was mis-sold, this page will provide you with the information you need to understand your rights and options.
What is a mis-sold mortgage? If any of these factors below apply you could be entitled to claim for a range of compensatory measures:
- Failure to Conduct Proper Affordability Checks: If the lender did not assess whether you could realistically afford the mortgage repayments, it may have been mis-sold.
- Offering an Inappropriate Mortgage Product: If you were sold a mortgage product that didn’t meet your needs, such as a variable-rate mortgage when you needed the stability of a fixed-rate mortgage, it could be considered mis-selling.
- Undisclosed Fees or Costs: Hidden charges, such as early repayment penalties, higher interest rates, or additional costs that were not made clear to you, may indicate mis-selling.
- Misleading Information About Terms: If the lender provided inaccurate or incomplete information about the mortgage terms, such as the interest rate, repayment period, or total cost, it could be deemed mis-sold.
- Pressured Sales Tactics: If you were pressured into taking out a mortgage that didn’t suit your needs or financial situation, this could be considered mis-selling.
- Failure to Explain the Risks: If the risks associated with your mortgage, such as potential interest rate increases or negative equity, were not properly explained, you may have been mis-sold.
- Selling Sub-prime Mortgages: If you were sold a sub-prime mortgage with high interest rates despite having a good credit rating or being eligible for better options, it could be deemed mis-selling.
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If you’ve experienced financial hardship due to unaffordable repayments, we’re here to support you in achieving financial fairness.
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Facing hardship?
If you’ve experienced financial hardship due to prioritizing mortgage payments over other essential bills or obligations, your loan may not have been genuinely affordable. You could reclaim what you’re owed—whether it’s a refund, compensation, or both.
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Irresponsible lending?
If the lender did not assess whether you could realistically afford the mortgage repayments, it may have been mis-sold. Or if you were sold a mortgage product that didn’t meet your needs, such as a variable-rate mortgage when you needed the stability of a fixed-rate mortgage, it could be considered mis-selling.
Financial Claims Experts
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Experienced
Let us help you, we understand the emotional and financial toll that unaffordable mortgages can have. Our goal is to provide you with the support and solutions you need to regain control of your finances and reclaim what’s rightfully yours.
Mortgage mis-selling in the UK occurs when financial institutions provide customers with unsuitable mortgage products, often without proper consideration of their individual circumstances.
Many customers were sold mortgages with add-ons like payment protection insurance (PPI) or life insurance, which they did not need or were not adequately informed about. In some cases, lenders did not consider potential future changes in the customer’s circumstances, such as income reductions or interest rate rises, which could make the mortgage unaffordable. Mortgage mis-selling is a serious issue that can have long-lasting effects on customers’ financial stability, but those who have been mis-sold mortgages may be entitled to compensation or support to rectify the situation.
A successful claim can alleviate financial strain, helping you regain stability and control over your finances. Additionally, challenging these unfair practices holds lenders accountable, promoting greater transparency and fairness in the lending market for others. With a straightforward claims process, the potential rewards could make a meaningful difference to your financial well-being.
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We ensure lenders are held accountable to the Financial Conduct Authority (FCA) and Financial Ombudsman Service (FOS) standards
Important Things You Should Know
QUESTIONS & ANSWERS
A mis-sold mortgage is when a financial institution sells you a mortgage that is unsuitable for your needs, typically through poor advice, misleading information, or failure to conduct proper affordability checks. This can result in financial strain or long-term debt issues.
If you suspect you’ve been mis-sold a mortgage, start by reviewing your mortgage agreement and any related paperwork. Contact your lender to raise your concerns and seek clarification. If needed, you can escalate the issue to the Financial Ombudsman Service or seek legal advice for further assistance.
es, if your mortgage was mis-sold, you may be entitled to compensation. This could include a refund of fees, interest, or any other charges that were not properly disclosed, as well as the possibility of switching to a more suitable mortgage product.
Yes, if a mortgage broker provides poor or misleading advice, fails to consider your financial situation, or sells you an unsuitable product, they can be held responsible for mis-selling. Brokers are required to act in your best interest and follow regulations.
Signs that your mortgage may have been mis-sold include not receiving adequate advice or being sold a product you didn’t fully understand, such as one with hidden fees, high interest rates, or penalties. If you were offered a mortgage without proper checks of your ability to repay, it could also be mis-sold.
The Financial Conduct Authority (FCA) regulates lenders and sets strict guidelines to ensure loans are affordable and fair. The Financial Ombudsman Service (FOS) steps in to mediate disputes between consumers and lenders, providing a neutral judgment if you believe you were wronged.
These organizations are key to holding lenders accountable. If a lender fails to meet FCA regulations or rejects a valid claim, the FOS can review the case and enforce corrective actions, such as compensation or refunds.
The time frame for resolving a claim can vary depending on the complexity of your case and the lender’s response. Some claims may be settled within a few weeks, while others might take several months, particularly if referred to the Financial Ombudsman Service (FOS).
Our team works diligently to ensure your claim progresses as quickly as possible. We provide regular updates throughout the process, so you’re always informed about the status of your case.
Yes, there is typically a time limit for making a claim for a mis-sold mortgage. In the UK, you generally have six years from the date you took out the mortgage or from when you realized that the mortgage may have been mis-sold to file a complaint.
Ask Us Anything, Anytime.
If you suspect you were impacted by discretionary commission practices or believe your car finance agreement was unfair, reach out to us for assistance. Whether you're uncertain about the details of your agreement or need guidance on your next steps, our team is here to help clarify your options and assess whether you have a valid claim. Contact us via phone, email, or by filling out our online enquiry form. Provide as much information as possible about your car finance agreement, including the lender's name, the loan start date, and any concerns you have. Even if you’re unsure about your eligibility, it’s worth exploring—you could be entitled to a refund, compensation, or more.