Reclaim mis-sold mortgage.

mickelaine1

Hi,

I have been contacted by a company saying they could reclaim all interest paid so far on my interest only mortgage if I was Mis-sold it.
Reasons for mis selling would be, not checking budget and proof of earnings.
Has anyone had any dealings with such companies?

Thanks

M.

Thrugelmir

mickelaine1 wrote: »

Reasons for mis selling would be, not checking budget and proof of earnings.

Did you submit false information on the application form when you applied for the mortgage?

kingstreet

How much would they like you to pay them upfront to investigate this for you?

mickelaine1

No, i didn't provide false info. The company that contacted me also asked if he made sure I could pay back mortgage. At the time we thought the rise in prices would enable us to sell if we needed to.

mickelaine1

Nothing was asked for upfront but 30% on successful outcome of claim.

ACG

You are complaining a Mortgage was miss sold because the price of property did not go up as expected?

Was it a self cert Mortgage you have?

dunstonh

I have been contacted by a company saying they could reclaim all interest paid so far on my interest only mortgage if I was Mis-sold it.

The few companies that do this (and its only a few as there so few successes) usually start by asking you for details. Then waiting a month to then tell you that you have a case but you need to pay £x to progress it to their solicitors. Then you wait and wait and wait only to find the company has folded and taken your money with it.

Reasons for mis selling would be, not checking budget and proof of earnings.

Are you saying that you want to complain because you committed mortgage fraud? You do realise that can bite you on the backside and see you added to the fraud register?

No, i didn't provide false info.

So, what exactly is there to complain about?

The company that contacted me also asked if he made sure I could pay back mortgage. At the time we thought the rise in prices would enable us to sell if we needed to.

And is there a problem with that?

Sounds like you are being scammed by a cold caller. Although that is not a surprise as most cold calls are scams or dodgy.

mickelaine1

Thanks dunstonh, that is the I answer I suspected. SCAM!!

Cheers

mickelaine1

Just for the record I was not complaining that I had been mis-sold the mortgage, just relaying what the initial caller had said.
I came on here to find out if anyone else had been contacted by similar companies.

Thrugelmir

mickelaine1 wrote: »

Just for the record I was not complaining that I had been mis-sold the mortgage, just relaying what the initial caller had said.
I came on here to find out if anyone else had been contacted by similar companies.

Eminently sensible. There's no such thing as a free lunch. Being party to the transaction potentially exposes oneself to scrutiny.

ACG

mickelaine1 wrote: »

Just for the record I was not complaining that I had been mis-sold the mortgage, just relaying what the initial caller had said.
I came on here to find out if anyone else had been contacted by similar companies.

Apologies, I misread your post.