Mortgage

The Signs of a Mis-Sold Mortgage

When it comes to being mis-sold a mortgage, you may not always be aware that it has been done. When discussing the possibility of a mortgage with an advisor, you put your trust into him or her and hope that they can advise you on the best mortgage scheme for your needs. If an advisor has instead misled you and left you with a mortgage that is not catered to your needs, then he or she has led you down the path of having a mis-sold mortgage. But, how can you actually tell that you have been mis-sold a mortgage?

Below are a number of occurrences that indicate you have been mis-sold your mortgage. Have a read and find out who to contact to resolve the issue.

Your Mortgage End Date Leads into Your Retirement

With your mortgage, there are certain steps that need to be taken if it is to run past the date of your retirement age. Your retirement will tend to greatly change your income each month, and so your mortgage should be assessed to cater to that when the time comes. If your advisor has recommended a mortgage that will run a certain length that runs past your retirement date and has not informed you amended payments for during your retirement, you may be looking at the case of a mis-sold mortgage scheme.

You Were Advised to Overstate Your Income

Being advised to exaggerate your income is a massive warning sign. If you are recommended to overstate your income in the hope of being able to loan more money than you would on your normal income, you are facing ill-advised assistance that could get yourself in to trouble. You are to inform the lender of your true monthly income so that an accurate plan can be made for your mortgage. Advising that you give untrue information regarding your financial stance is a form of mis-selling on the advisor’s side as it goes against the regulations of which they must uphold, and it also can cause problems for yourself further down the road due to giving false information.

You Had A Lack of Information

Information is key when it comes to determining the mortgage that is right for you. Information must be correctly relayed from you, but the same goes for the advisor. You must ensure that all information is told to you about the proposed mortgage that you are thinking of going ahead with. If the advisor is not enlightening with of the information needed, that can cause a problem in the future. For example, if your preference is to pay monthly and have the mortgage paid off by the end date but your advisor suggests an interest-only mortgage without explaining the lump sum payment at the end, then the lack of information causes the potential for being mis-sold your mortgage if you accept his or her word.

Who Should You Contact?

If these signs of being mis-sold your mortgage are setting off alarm bells for you now, then you may want to act quickly in resolving the matter at hand. Who is best to contact under these circumstances? The Mis-Sold Mortgage Experts. This team of experienced solicitors who specialise in mis-sold mortgage claims are equipped with the know-how to assist you with finding out if you have the grounds to make a claim for being mis-sold your mortgage. The Mis-Sold Mortgage Experts can assist you from start to finish of the situation and will give you advice that is within your best interest.

Contact The Mis-Sold Mortgage Experts

Think that this trustworthy team of specialists could help you? Call 0800 756 3986 or email info@missoldmortgageexpert.co.uk for further information. You can also fill out their contact form which can be found on their contact page if you wish for one of their helpful team members to get back to you later.

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