Were You Mis-sold Your Mortgage? Here's what you need to know

Buying a home is a huge milestone. For most people, it is the largest investment they’ll ever make. The mortgage you choose to fund that home is just as important. But what happens when the advice you received was flawed, misleading, or even negligent?

Many people may, without releasing it, have been mis-sold.

Here we cover how to know if your mortgage was mis-sold to you and, if so, how you could claim back some compensation.

What is mortgage mis-selling?

Mortgage mis-selling occurs when a financial advisor, lender, or broker gives unsuitable or incomplete advice that leads you to take out a mortgage that doesn’t fit your circumstances or costs you more than necessary.

Mis-selling doesn’t always mean there was fraud – sometimes the finance agreement just wasn’t right for you. You may have been mis-sold a mortgage simply due to poor quality advice which failed to consider your age, income or possible risks.

Some common examples include:

Being sold a mortgage that extends past your retirement age
Being pushed toward an interest-only mortgage without clear explanations
Not being told about risks or commission payments
Inadequate credit checks or lack of crucial pre-contract information

These aren’t examples of bad advice but possible breaches of Financial Conduct Authority (FCA) regulations!

So if any of this sounds familiar, you may have been mis-sold your mortgage.

Mis-sold mortgage claims

If you want help getting redress for a mis-sold mortgage we can recommend a provider of legal assistance.

Charles Lyndon have a financial litigation team who specialise in mortgage mis-selling. They’ll be able to help you understand if you have suffered financially due to bad advice and, if so, how to claim the compensation you deserve.

Don’t let poor advice cost you your financial future. Charles Lyndon can help you put things right.

Make a mis-sold mortgage claim

If you have any thoughts on this topic, or any other consumer issues you would like us to cover, feel free to get in touch with us at support@resolver.co.uk.