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Compensation claims on mortgages


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I've been told by the representative of a company (based in Manchester)

who seem to have a very poor reputation on here :eek:...

 

that many mortgages were not written correctly in contract law, and that borrowers can claim compensation.

Apparently, it is nothing to do with miss selling.

 

All my mortgages have been with high street lenders on coventional products. I have never missed a payment of any of them.

I did not pay a higher lending charge on any of them, nor an early redemption penalty.

 

I did not take any insurances with the lenders either

One was arranged directly with the lender. The other two were via a broker ( personal trusted friend), where the commission was fully disclosed up front. I did not pay any broker fees either.

 

Anyone got any ideas what is supposedly " wrong" with these mortgages ?

 

Am I likely to have a case, or is it just a sales pitch ?

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Be careful "Never smile at a crocodile" some of these companies are worse than DCAs

 

 

I can't see I have any case for complaint.

Obviously no one else on here thinks I do either, as no one has said otherwise :confused:

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Guest Old_andrew2018

sometimes it takes a little while to get replies, there are a few companies advertising that they can wipe debts from credit card, mortgages etc, I expect they want a fee up front

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i'm guessing it's to do with amortisation of interest? don't know if that's an american term but it's to do with the proportion of interest that is paid from each monthly payment and how much they calculate you still owe on the principle sum borrowed when you swap companies or end fixed rate deals.

 

i've been looking into this is great detail for several months and it is extremely hard to sort through all the details you need to progress cases to a stage where any company/solicitor would be happy to present it in court or even to a body such as FOS.

 

so in a nutshell. wait until more cases have been put through the system then get the info to do it yourself on here for free.

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