Mis-Sold Buy To Let - PLEASE HELP

nic-el

Hi

In December of last year I was sold a mortage by a broker who avertised that the mortgage fee as a certain amount. When the mortgage papers came through the fee was £700 higher than advertised We went ahead with the mortgage as the house and fees were already incurred. I have now contacted the broker and his parent company who have basiacally said that it was a typo on their selling sheet and there's nothing they can do about it. The FSA have told me that as this was a buy to let rather than a personal mortgage they cannot help either. CAN ANYONE ADVISE ME PLEASE?

dunstonh

CAN ANYONE ADVISE ME PLEASE?

a solicitor.

Its an unregulated mortgage so you do not get any financial services protection. You are just covered within law.

Where was the fault? Was the fee £700 higher or was the initial figure £700 too low?

If it was an error and you have a fee agreement stating the lower amount then its really a case of law that they are overcharging on the agreed fee and should refund the difference unless it was a case that the figure was undercharged rather than overcharged.

Leon_W

Have to agree with dunstonh.

It's a straightforward civil matter so you'll have to rely on good old British Justice. Which usually means it'll cost you more to persue than you'll get back !

Realistically it's one to chalk to experience and in future make sure you know EXACTLY what you are getting and how much it's costing you.

Regards.

nic-el

Thanks for the advise. The policy fee was stated on the brokers information sheet at one figure and once the mortgage paperwork came through it was £700 higher, they have said it was a typo. Is there still nothing I can do about it?

Verbatim

Try a small claim at your local County Court. DIY no solicitor required. You may find that they refund on receipt of the summons.