Mortgage mis-selling | First Mortgage Trust©

We have highlighted mortgage mis-selling within our brief history of mis sold financial products where we have ilustrated a 20 year period. Since October 31 2004 some types of mortgages have been regulated under the FSA. With the increasing protection afforded consumers there is now grounds for redress.

Due to a recent precedent, recourse for those homeowners that have been repossessed or facing repossession and have either suffered or are suffering severe financial hardship is now available. The ruling centres around the code of business governing mortgage brokers. Mortgage mis-selling has been prompted as a result of mortgage advice having to be "suitable for that customer" and that advisers "must make and retain a record" of it being suitable. There are numerous facets of concern within the process itself as well as self certification, sub prime and right to buy.

Do I qualify? Enquire now.....

If you feel you may have a case for being mis sold a mortgage then there is a good chance you have a claim for thousands. The recent precedent may well be the tip of a very large iceberg. Is this the next episode of misselling? To assist and guide here are a few helpful concise points:

Were you 'induced' into a contract. For example were you a housing association tenant perhaps on a fixed rate for life but persuaded to buy the property on an initial fixed or dicounted rate.

Were you charged a separate fee by the broker, a fee which was perhaps a percentage of the loan.

Were you a council tenant and entered into a Right to Buy.

Did you take out a self certification mortgage.

Did your mortgage fall under adverse credit or within sub prime borrowing.

Was affordability discussed with you fully.

Does your mortgage stretch beyond your retirement date.

These are a few main points and key issues, however if you feel there are other mitigating circumstances please contact us selecting 'mortgage mis selling' while adding your comments. This is our secure 128 bit encrypted server.

Even if your mortgage began before 31 October 2004, the rules may still apply, as mortgage "misrepresentation" might also be feasible especially in the case of arrears. You may well also have a case for mortgage mis-selling if the business was written for the mortgage broker first and the client second, i.e. motivated by commission.