Have I been mis-sold a mortgage and due compensation?

KarenStew88

Hi all,

I had an unsolicited call on my moby telling me I might have been mis-sold a mortgage in the past. I know not to engage these people in conversation, but has anyone got any experience of investigating it for themselves? Is there legislation that says I could be due compensation in the same way as PPI?

KarenSt

Senior_Paper_Monitor

OK - I'll go first - why do you feel you may have been /were missold your mortgage ?


Other than some unknown scammer has suggested you might be, that is !

GMS

Did they also say you might not have been mis-sold?


On what grounds do you think it is mis-sold?


Next step is to part with money for them to process the claim at which point you are 99.9% certain to have seen the last of your cash.


If somebody ran you out of the blue to suggest your kitchen cabinets were made of the wrong type of wood and that you could be due thousands of pounds you would probably laugh and put the phone down. You may well ask what was wrong with the cabinets or ask 'How would you know?'


Similarly you are being cold called by a clown who won't know who the lender is, let alone if there was any wrong doing.


At least Jack got a beanstalk to show for his magic beans.

KarenStew88

GMS,

Sorry, the point of my thread was that I didn't know if there was compensation available for mis-sold mortgages, I thought it was only for PPI.

Yes, they cold called me, but what I also said was that I wasn't going to use them if I had been mis-sold, I merely wanted to find out if there was any other information available about this issue that I could do my own research on.

KarenSt

GMS

There is redress for many things but it doesn't mean you have suffered from them because an ambulance chaser calls you.


Do you think your mortgage was mis-sold?

Senior_Paper_Monitor

I'll move it down a step then ...


Is there anything about your mortgage that you are unhappy with ?

kelpie35

Are you not happy with the mortgage you have ?

KarenStew88

There could be as I've had 3+ mortgages over the past 15 years including BTL and a re-mortgage. One in particular was through an estate agent and I didn't know anything about mortgages then. I've since found out that the paperwork was lacking to start with but it was 15 years ago.

Is there a time limit as to when you can claim?

What type of things constitute as mis-selling?

Mortgage_Mark_2

From the sound of the thread I'm going to stick my neck out and say you probably weren't mis-sold...

dunstonh

Is there legislation that says I could be due compensation in the same way as PPI?

no

Sorry, the point of my thread was that I didn't know if there was compensation available for mis-sold mortgages, I thought it was only for PPI.

You can complain about the colour of the carpet in the branch of your bank if you want. you can complain about anything.

So, what would your complaint be?

There could be as I've had 3+ mortgages over the past 15 years including BTL and a re-mortgage.

BTL mortgages are unregulated.

One in particular was through an estate agent and I didn't know anything about mortgages then. I've since found out that the paperwork was lacking to start with but it was 15 years ago.

Regulation didnt start until Oct 2004. So, what exactly was lacking?

Yes there is a timescale. 6 years from the start date or 3 years from being reasonably aware of an issue and assumes you bought after Oct 2004 and it is a regulated mortgage.

What type of things constitute as mis-selling?

Being recommended to buy a tin of baked beans when you needed a tin of oil.

MLSY

why has it taken 15 years for you to think you were mis sold or the paperwork was lacking ?