mis sold mortgage and ashton fox

R_P_W

I got a call a couple of weeks ago from someone saying they were solicitors that were looking into 'potential' mortgage mis selling in the area.

They knew my name, my phone number and that I has taken out a mortgage 7 years ago. What they didnt know what who my lender was and how much etc.

They were asking me to provide the info, so i started asking questions of my own. I didnt give them any addiitonal info but they seemed very confident that i was mis sold a mortgage. I asked them to clarify what they mean by 'mis sold' and there answer was an interest rate over 6%. I'm sure there are a few people that over the years took 100% mortgages on high fixed rates, but in most cases they knew this.

I politely told them where they could relocate themselves. Another thing was they said they would pursue my case (of which i dont have) at zero cost to me whether successful or unsuccessful! I said that is very generous of you, and asked them to confirm it wouldnt cost me a penny which they confirmed. it wont cost me a penny apart from the 50% take of anything they recover! Absolute jokers!

Senior_Paper_Monitor

Trawling a combination of property sites (shows sales date - fair guess you used a mortage) , 192.com and the electoral roll gives a bloody good guess at most of the information they had (and they can buy assembled lists based on that if they chose).

These people really are low lives !

dunstonh

I asked them to clarify what they mean by 'mis sold' and there answer was an interest rate over 6%. I

That is disgusting. When you consider that the long term average mortgage rate is around 7%, that means virtually everyone has been mis-sold on that criteria.

jockosjungle

Most people have a mortgage. Still sounds like a PPI thing to me, we get the cold calls a bit.

You tell them you've never had it, they assume you have. So keep naming things until you admit you have a mortgage or a credit card.

They then say it was missold.

Used to be endowment policies, now its these

dunstonh

Most people have a mortgage. Still sounds like a PPI thing to me, we get the cold calls a bit.

If you take an estimated spread of around 1000 cases then probably around 20 were mis-sold. However another 100-200 would have documentation failures which could lead to redress. Not because of mis-sale but because of a technical failure by the adviser (such as perhaps missing a sentence on a report that you probably would never read or would have the common sense to realise). The other cases would be fine. These claims companies are not looking for those 20 mis-sold. They are looking at the 100-200 that they can get lucky with due to a mistake that hasnt cost you anything but they can make money out of.

The FOS stats for 2011/12 show that just 0.2% of the complaints are advised cases.

robatwork

I was missold an omlette in Majorca in 1996. Now I think of it, was more like scrambled egg.

Did someone mention "goodle bandwaggon" on this thread?

Kay

Yes, their 'info' would have been a complete guess - I had a call today from them saying I had been mis-sold a mortgage - I don't have a mortgage at all and haven't had one since 1994 - and if they had my address, they'd know that the residential park home I live in isn't even eligible to apply for a mortgage!

Ignore and block their number if you can.

BethanyD

Just a few points:-

1. There is an article about Ashton Fox and associated companies on Offshore Alert this week which is far from complimentary.
2. There are a number of mis-sold mortgages out there but reclaiming is not as easy as PPI - in fact if you're not a lawyer forget it - all to do with MCOB rules etc - Channel 4 ran a news story on this here

Kay wrote: »

Yes, their 'info' would have been a complete guess - I had a call today from them saying I had been mis-sold a mortgage - I don't have a mortgage at all and haven't had one since 1994 - and if they had my address, they'd know that the residential park home I live in isn't even eligible to apply for a mortgage!

Ignore and block their number if you can.

dunstonh

BethanyD wrote: »

Just a few points:-

1. There is an article about Ashton Fox and associated companies on Offshore Alert this week which is far from complimentary.
2. There are a number of mis-sold mortgages out there but reclaiming is not as easy as PPI - in fact if you're not a lawyer forget it - all to do with MCOB rules etc - Channel 4 ran a news story on this here

You have to laugh at the poor reporting by channel 4 though. The news anchor says the figures are astonishing with a near 50% increase. However, earlier in the piece where it says complaints are up from 4000 to 6500 on mortgages (which is actually a very small number when you consider the volume of mortgages sold) that only 300 were mis-selling complaints. It also failed to give the uphold rate on those.

The FOS do publish some figure though and revealed that it upholds just 10% of all mortgage mis-selling claims made by claims management firms.

_Andy_

robatwork wrote: »

I was missold an omlette in Majorca in 1996. Now I think of it, was more like scrambled egg.

Did someone mention "goodle bandwaggon" on this thread?

(Belatedly) post of the month. Love it.