Am i entitled to claim monies as mis-sold mortgage?

Keep_costs_down

i would like some advice, as i think i was misold my mortgage and wish to claim some compensation. In 2003 i moved house (joint mortgage) to a property on my own, the sale was seamless and i used same mortgage company as advised by my financial advisor to avoid redemption penalty. The Woolwich charged me a redemption penalty none the less. on discovering this they confirmed my records showed my two mortgages old and new but said that my advisor took out a completely new mortgage and thus i paid my redemption penalty. they said not right and i should go back to mortgage advisor though as nothing they could do. Whats more i was sold a mortgage that was on a worse rate than that before, i was not offered the option to port or anything and i suspect that my advisor who was part of a national estate agent chain was happy to get his commision. This was pre FSA rules and i feel that i have been advised poorly and only now ami old enough and wise enough to realise. I am in the process of writing to the advisor but would like anybody's feedback on whether i have a claim or not under The MortgageCode and how best to approach it. With interest i calculate the claim to be circa £6k. Help !

Conrad

There was aMortgage Code Compliance Board but I dont know if still exists.

Maybe take him to small claims court.

Keep_costs_down

Great thank you for responding, i think i will start by writing them a strong letter and see what reaction i get, i am attaching all the paperwork including the really poor mortgage application form they used which had 0 next to whether i already owed a property and 0 next to existing mortgage company. The FSA although not regulating this at the time may be able to point me in the right direction if i dont get an appropriate response. Do you think i have a case? or am i clutching at straws slightly?

koexelek

I reckon the adviser cocked up.
They would have got the same commission with the Woolwich if they had ported the old deal or started you on a whole new Woolwich deal, so there was no hidden agenda there.

If they made a mistake, they should be financially liable for it, not you.

Keep_costs_down

I will send the letter tomorrow and keep you posted !