Mortgage mis-selling

17/04/14

Mortgage mis-selling

Struggling with your finances and finding it difficult to pay your mortgage? Recovery Assist Solicitors may be able to help. If your mortgage lender or broker has provided you with inappropriate or inadequate advice you may be able to claim compensation.

Before the financial crisis mortgages were approved at record rates. Some lenders and brokers encouraged borrowers to take out mortgages without proper consideration of ability to pay or whether the mortgage product was suitable.

Many borrowers were advised to enter into interest-only mortgages without a full picture as to how it was to be repaid at the end of the mortgage term. Many received no advice on the need for a plan to repay the capital. Others were advised to self-certify their income when their proof of income could easily have been provided.

Margaret Crausby, Senior Partner at Recovery Assist Solicitors believes that borrowers should be made fully aware of their rights and deserve to be compensated for the actions of those who have failed in their duty to properly advise; “In the current economic climate many borrowers are now struggling financially to pay a mortgage as a result of the poor and inadequate advice that was provided to them by both lenders and brokers. We are here to fight on behalf of borrowers to ensure that they get the compensation they deserve and to make the claim process as simple as possible”.

The Financial Conduct Authority have been aware of the issue of mortgages being mis-sold for some time and it is believed that claims from borrowers against their lender or broker could run into millions of pounds.

Don’t allow the failings of your lender or broker to go unpunished. We can help you claim compensation for your mis-sold mortgage. Contact Recovery Assist Solicitors on 0161 762 4949 for free initial advice from one of our specialist solicitors.

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