Mortgage misselling

Sad_and_cynical

Hello
Wondered if anybody could advise me about this. We went through a bad time in the 1990s, got into financial difficulties and remortgaged the house. After a short time the same difficulties presented again and like magic we received a phone call offering to help us remortgage again. The same happened again and, stupid I know, but another phone call magically presented itself and we remortgaged again - losing equity every time, Its amazing how desperate you become. My husband became depressed and started to drink heavily and to cut a long story short we ended up selling our house (by the skin of our teeth) but lost a considerable amount of money to the mortgage companies who phoned us. Has anyone else experienced this? Looking back I feel our name was passed on as an easy mark. Does this constitute misselling?

dunstonh

Does this constitute misselling?

No. Mortgages were not regulated until October 2004.

Every time you remortgaged, what happened to the extra money you borrowed?

Being an easy mark does not mean you can pass on your responsibility. Basically, never ever act on cold calls. Assume most of them are scams (and most of them are) and you will never get caught out. Genuine firms do not cold call.