mis sold sub prime mortgage

LAMMESH703

Hi, not sure were to post this, I have been contacted regarding the possibility of a mis-sold sub prime mortgage.

I took a second mortgage in 2002 with SMPL as we could not get a mortgage anywhere else due to bad credit.

I have searched the internet about mis sold sub prime mortgages.

Is it true that you can reclaim against these.

SMPL were taken over by Capstone/Ascenden and we are still with Ascenden now.

Any help would be much appreciated. Thanks

ACG

So you couldnt get a mortgage, you therefore took out a subprime mortgage because prime ones were not available?

How was it miss sold?

_Andy_

LAMMESH703 wrote: »

Hi, not sure were to post this, I have been contacted regarding the possibility of a mis-sold sub prime mortgage.

I took a second mortgage in 2002 with SMPL as we could not get a mortgage anywhere else due to bad credit.

I have searched the internet about mis sold sub prime mortgages.

Is it true that you can reclaim against these.

SMPL were taken over by Capstone/Ascenden and we are still with Ascenden now.

Any help would be much appreciated. Thanks

Reclaim what and why?
These forums are getting more pathetic by the day

LAMMESH703

Well that i'm not sure, just that this company telephoned this evening saying that they can help me claim back money due to it being mis-sold. They say they are sending out a claim pack.

They asked me whether i took out a sub I took out a sub-prime mortgage and was it one of 5 companies that they mentioned, SMPL was one on their list. They then asked was it due to adverse credit? Yes.
To consolidate debts? Yes.
Did I pay over £3000 in commission fees to broker? Yes

They said I had a claim.

LAMMESH703

I have just looked on the interenet and their are leads to these mis-sold prime mortgages if taken out by SMPL?

How true are they?

MonkeyMad

LAMMESH703 wrote: »

They then asked was it due to adverse credit? Yes.

Why else would you go sub-prime

LAMMESH703 wrote: »

To consolidate debts? Yes.

Fairly safe bet for a sub-prime second mortgage

LAMMESH703 wrote: »

Did I pay over £3000 in commission fees to broker? Yes

Paying lots in fees doesn't make it mis-sold, it makes it expensive.

ACG

Were you miss sold to though?
I dont know whether you can or cant claim anything back - Morally, though are you entitled to anything? It doesnt sound like it.

I will help anyone out that deserves it if i can. If your after a quick buck wrongfully then i wont. Im not judging you either way but it doesnt sound like morally you are in the right.

I wonder if they want any upfront fees and if they do, if you will then be trying to claim for miss sold, miss sold mortgage compensation.

samtoby

I have claimed money back from PPI on old accounts (I know its not the same) and I did it all myself. The forums here show you how.

Don't use a company; I did that with my first one and they got most of it! If there is money to be had through being mis sold deffinatly do it yourself. Get a Subject Access Request from the lender and go from there. So much free advice that you don't need to use a company who will probably take all the money if it was mis- sold.

Be careful; read this companys T and C's. ~:)

Wutang_2

Why are prime mortgages never missold?

LAMMESH703

It was through an independent advisor who said this was the only way we could get a second mortgage.

I am not sure about these claims as never ever been down this road before.

GMS

Was it a Buy to Let mortgage?