Compensation claim letter template

AdamButton

Dear all,

Apologies in the first instance for the thread if it has been asked before and also for the lengthy threat - lots of info to put down.

In 2007 I re-mortgaged the house with a broker as my fixed term was up. The broker in question was the now struck off AWD Home Finance, then they changed to Carrington Carr.

Reason for my query is that a company called me up saying I would be entitled to make a claim for mis-selling but they wanted a load of up front fees and a 25% cut if successful, so would rather do this on my own, but need some help.

The facts:

AWD home finance handled the re-mortgage in totality and I have already been in touch with the FSCS and they say that because AWD was working on behalf of Legal and General Partner services the claim would be with them as they are still going.

The re-mort was for £169,900 on a valuation of £200,000

The broker did 1 face to face meeting and the rest was provided over post and tel

No PPI or other insurances taken

No consolidation

AWD charged a broker fee of £2846 which was added to the mortgage.

Northern rock was recommended as the ONLY provider, no list of mortgage providers quoted was ever given or seen

No key facts document was ever produced

No explanation that interest would be charged on the broker fee if added to the mortgage, which I understand is actually illegal?

At the time I was earning just shy of £60,000 a year at Experian so I would not have been classed as "Sub Prime" as had good credit and no defualts/CCJs or late payments of any kind, so should not have been punted towards Northern Rock as a sub-prime lender (previous with Nat West from 2005-2007).

Despite having more than adequate life insurances and critical illness cover and very good work based sickness pay (2 years at full pay) the recommended all sorts of policies which I refused.

As I say, the basis of the claim is that the mortgage was miss-sold due to being not the best deal for me on the "List" that was never produced, that it was never explained about the true costs of putting the fee onto the top of the mortgage and that they should not have charged interest on the fee and that I was never provided full details of the Broker fee, just a cost on the completion statement after the fact.

Am I right?

If I am, can someone please help me with a letter template to send to L&G PS

I have all the paperwork ever given in a folder - only two documents ever came from AWD 1. a completion statement and 2. their client review spreadsheet.

Many may thanks in advance

Adam

antrobus

Unless I'm missing something here, whereas AWD might well have been "working on behalf of Legal and General Partner services the claim would be with them as they are still going" that would only be in respect of any insurance products that were sold. As it is "No PPI or other insurances (was) taken" and the compliant is regarding the sale of a Northern Rock mortgage product and the brokerage fee charged. I'm not sure that would have anything to do with L&G.

P.S. Northern Rock was not a 'sub-prime lender'. Or at least, it certainly was not considered as such in 2007 before it ran out of money.

kingstreet

Borrowing a broker fee is not illegal.

Northern Rock was not a sub-prime lender.

Your suitability letter should set out the reasons why a Northern Rock product was recommended.

FWIW I don't automatically provide a copy of the sourcing list. I am making a recommendation based on the client's circumstances and will pick the best lender I can which matches those circumstances, then the suitability letter provides the justification.

I suggest you make a subject access request to whoever now has control of the AWD/CC files to see what they actually hold on you.

dunstonh

AWD/Carrington Carr were agents of L&G.

Reason for my query is that a company called me up saying I would be entitled to make a claim for mis-selling but they wanted a load of up front fees and a 25% cut if successful, so would rather do this on my own, but need some help.

That tells you are lot straight away. Up front fees are typically used by scams (advance fee fraud) or where there is limited or virtually no chance of success. They make their money on the up front fee for putting in a speculative complaint.

No explanation that interest would be charged on the broker fee if added to the mortgage, which I understand is actually illegal?

It certainly isnt illegal. It is allowed and adding of fees to mortgage is extremely common. It is a myth put out by the scam companies.

No key facts document was ever produced

That seems unlikely as you normally end up with two. One usually comes with the contract you sign. The assumption will be that you had it.

Northern rock was recommended as the ONLY provider, no list of mortgage providers quoted was ever given or seen

It is unlikely it was the only provider. You are just not aware of any others. You are not required or even expected to be a shown a list.

At the time I was earning just shy of £60,000 a year at Experian so I would not have been classed as "Sub Prime" as had good credit and no defualts/CCJs or late payments of any kind, so should not have been punted towards Northern Rock as a sub-prime lender (previous with Nat West from 2005-2007).

Northern Rock were not a sub-prime lender. So, no problem there.

Despite having more than adequate life insurances and critical illness cover and very good work based sickness pay (2 years at full pay) the recommended all sorts of policies which I refused.

Irrelevant to anything then.

As I say, the basis of the claim is that the mortgage was miss-sold due to being not the best deal for me on the "List" that was never produced, that it was never explained about the true costs of putting the fee onto the top of the mortgage and that they should not have charged interest on the fee and that I was never provided full details of the Broker fee, just a cost on the completion statement after the fact.

Most of what you say are not grounds for complaint and the rest is just speculation and could easily be put down to poor recollection of events over 5 years ago. Sounds like the total rubbish put out by one of the scam claims companies.