Mortgage Complaints

If you have a mortgage complaint, or would like to establish whether your mortgage may have been missold, then you have come to the right place. Mortgage complaints have sky rocketed in recent years, primarily due to better public awareness about the cowboys who have been dishonestly selling mortgages for a long time.

Its a sad fact that mortgage complaints were so frequent that the topic became a grave concern for the Financial Services Authority (FSA). The FSA launched an investigation in 2008 to address what is undoubtedly foul practice, with many lenders and mortgage brokers being guilty of selling unsuitable mortgages to line their pockets with cash.

Why should I make a mortgage complaint?

For many of us, a mortgage is the most important loan we will ever take out in our lifetime. Due to this, the FSA does not tolerate mortgage brokers and lenders giving poor financial advice. The majority of us may not even realise that we have been missold a mortgage.

The good news is that financial compensation is available for those that establish a valid mortgage complaint. If you were sold a mortgage in the last few years it is likely that you were missold the mortgage and you should make a mortgage complaint as soon as you can.

The first step you should take is to contact a mortgage complaints solicitor. A mortgage complaints solicitor can discuss your personal circumstances, establish whether you were missold a mortgage, and then help you to proceed with a claim.

Mortgage complaints about mortgage advice

Since October 2004 the FSA has regulated the selling of almost all types of mortgages. This is to ensure that the mortgage buyer is receiving the correct financial advice and can make a valid assessment of what mortgage product is most suitable.

Poor financial advice being given results in mortgage complaints and is unacceptable. Do not hesitate to make a mortgage complaint as there are time limits restricting your ability to make a missold mortgage claim.

What mortgage advice should I have received?

The mortgage advice that is given should include a detailed review of whether a mortgage is affordable, whether it is the most suitable mortgage that the advisor can offer you and whether the mortgage meets your personal needs and requirements.

Anyone taking out a mortgage has a right to expect accurate and honest mortgage advice on the above factors. Any failure to provide accurate and honest mortgage advice can have devastating consequences for those receiving and acting upon such advice.

In some cases poor mortgage advice can leave an individual with unmanageable debt and could even lead to such a person losing their home. Unfortunately, there is considerable evidence to show that many people have received poor financial advice when it comes to mortgages, often causing the victims of such advice unnecessary stress and financial implications.

Make a mortgage complaint and get the financial compensation you deserve.

When should I make a mortgage complaint?

Although there are many ways in which a mortgage can be missold, the criteria for what constitutes as a missold mortgage are the same throughout. A mortgage is considered to be missold when whoever has given advice and sold a mortgage has not done so in compliance with the FSA’s regulatory requirements.

The FSA has a set of regulations that must be complied with as described in the Mortgage Conduct of Business (MCOB). The main emphasis from these regulations is that all mortgages must be sold in the interest of the customer and be of suitability to that customer.

Any breach of this basic requirement means you have a valid mortgage complaint.

Use a mortgage complaints solicitor

There is financial compensation available for those who have been missold a mortgage. The FSA has a principal of ‘treating customers fairly’ and that is exactly what many mortgage advisors fail to do.

Many solicitors specialise in one area of law nowadays and with mortgage complaints being common, the marketplace is full of mortgage complaints solicitors, some good, some bad.

Making a mortgage complaint is really quite straightforward whereas finding a good solicitor to help with your mortgage complaint is not so easy.

Fortunately, we can help. Due to popular demand we have implemented a find a Mortgage Complaints Solicitor service. This service will match you with an expert mortgage complaints solicitor to save you the time of trawling the town and the web trying to find a competent solicitor.

We are confident in the service we offer and understand how financially debilitating a missold mortgage can be. With this in mind, we offer to match you with a solicitor at no cost to you and with no obligation to use any solicitor we find for you.

So get in touch with your mortgage complaint and start your claim for financial compensation. We only affiliate ourselves with the best solicitors’ firms and you have nothing to lose, with potentially a lot to gain.