Fusion Economic Solutions

emayarkay

Hi,

We've received a telephone call today from this company offering to investigate a potential mortgage mis-selling claim. Their fees include a £495 "deposit" off a credit card plus 30% of any money reclaimed. Has anyone ever heard about them or this service? Any help would be appreciated.

dunstonh

Their fees include a £495 "deposit" off a credit card plus 30% of any money reclaimed.

We cannot comment on your call or this company but the magic up front £495 figure is what all the companies that seem to fail on the basis of scams or false promises seem to take. Cartel took £30 million of £495 payments before it failed and went into administration taking all that money with it. Kerebo were another but the list is endless.

It looks remarkably like advance fee fraud (or an episode of Hustle). You entice the mark by playing to their greed (telling you will get compensation) but you need to pay £495 first to get it. You get so wrapped up in the potential pay off that you pay the £495. Years later when nothing happens you chase getting your money back but the company has gone along with your £495.

The FOS recently said it does not see a widespread complaint issue on mortgages despite what some claims companies think. However, it did feel that there was some concerns which could result in redress with regards to the use of sub prime mortgages. Most claims companies are focusing on that but there are some dodgy ones that are telling people all sorts of porkies about mortgages. Such as not being allowed to add fees to the mortgage (you are allowed) or if its interest only (also allowed) and a whole bunch of others.

Lets cut to the chase. Do you think you were mis-sold? If so why?