Copyright Hydrogard Legal Services Ltd. All rights reserved.                                                     Designed by CJB Enterprise 2015

 

If you were sold a mortgage after the 1st November 2004

either direct with a lender or through a broker there is a real possibility that the Mortgage has been mis-sold.


Their are rules governing mortgages and the way in which they are or were sold,

these rules state that the lenders and brokers must ensure that the mortgage is affordable

not only at the time of sale but throughout the whole term of the mortgage, even if that means into retirement.

If we are able to establish that the mortgage was mis-sold to you then you may have a claim for losses

this can be from the start of the mortgage up-to-date, and through to the full term of the mortgage.


Click on the link to start your claim


WHAT TYPES OF MORTGAGE DOES THIS APPLY TO?

INTEREST ONLY MORTGAGES - RIGHT TO BUY MORTGAGES - REPAYMENT INVESTMENT MORTGAGE


YOUR MORTGAGE MAY HAVE BEEN MIS-SOLD TO YOU IN THE FOLLOWING WAY

INTEREST ONLY MORTGAGE: These mortgages may have been sold to you as the cheaper option, which may be the case in the short-term, however, in the long run, you will end up paying significantly more. Your broker should have explained this to you and given examples of the cost of an Interest only mortgage vs a Capital Repayment mortgage and explained that you may have to switch your mortgage to a Capital Repayment mortgage at some point.

RIGHT TO BUY MORTGAGE: Many people are and were unaware that their mortgage payment would be much higher than their rent under the right to buy scheme and that they would become responsible for maintenance costs and would lose their housing benefit.

REPAYMENT INVESTMENTS: These types of mortgages relied upon an endowment insurance policy or similar investment, which was designed and supposed to pay off the mortgage when it’s finished. Sometimes these fall short and leave the Consumer with a lump sum to pay to clear the mortgage.
HIGH BROKER FEES: If you paid an unreasonably high fee to your broker and you were unaware of how much it would be, or if it was added to your mortgage without you knowing, meaning you are paying interest on it, you could claim.
SELF-CERTIFICATION: You could have been encouraged to take out a self-certified or fast-track mortgage, when this may not have been the best option for you financially, this was a very popular mortgage with brokers due to the high commission payments received.

DEBT CONSOLIDATION: If you’ve been advised to move all your unsecured loans onto your mortgage, but weren’t informed that although your monthly outgoings would initially be lower you would be extending the length of your debt and increasing the interest.
POST RETIREMENT MORTGAGE: Is your mortgage going to run past your retirement age? Do you know how you will make the repayments?
SUBPRIME MORTGAGES: These types of mortgages are recommended for borrowers with poor credit history, CCJ’s or low credit score. They usually cost more than typical mortgages in both fees and interest charges. If you were advised to purchase one of these even though your credit rating was fine, you could claim.

IF YOU HAVE TAKEN A MORTGAGE OUT AFTER THE

1ST NOVEMBER 2004 - KEEP READING...

Hydrogard Legal Services

Hydrogard Legal Services

The mORTGAGE Refund Specialist