Investing on claiming back on mortgage?

RichardDennis68

Dad been contacted by company regarding investing in audit overcharge mortgage claims?

Dont really understand it to tell you the truth but company as asked for 5k up front from him but they say there is no risk of loosing it as claims are insured (surely no free lunches?) They said they have computer formulas that work out overcharges for people and get solicitors to do claims?

Anyone had any success from this? Think company is called audit mortgage claims?

May thanks

Sibz

Sounds shifty.... What was the General's name that emailed him?

ricky_v

I call BS.


If the claim was insured then the claims company would pay the £5k would they not?


Never deal with cold callers, especially if they want £5k!


Barge and pole comes to mind.

RichardDennis68

ricky_v wrote: »

I call BS.


If the claim was insured then the claims company would pay the £5k would they not?


Never deal with cold callers, especially if they want £5k!


Barge and pole comes to mind.

He says that he was told they couldnt do therselves due to MOJ regulations?

All sounds fishy if you ask me but they seem to have convinced him! Is there anyone i can report this to legally speaking?

dunstonh

Dad been contacted by company regarding investing in audit overcharge mortgage claims?

Can you clarify.... are you saying he has been asked to invest into their crowdfunding style scheme or are you saying they will investigate his mortgage for £5000?

Either way, these are scams or as about as close to dodgy as you can get without the board removing posts.

There was a thread the other day on this subject and an excellent post from someone who knows the mechanics behind these things and its effectively a ponzi scheme. A number of solicitors have been caught out by it and now they are trying to get mugs through cold calling to put their money in instead of the solicitor.

He says that he was told they couldnt do therselves due to MOJ regulations?

BS. MoJ doesnt regulate mortgages. The FCA does and and the FCA regulated complaints process is free to use and people are actually encouraged to put personal complaints in rather than use a parasite company.

RichardDennis68

Sibz wrote: »

Sounds shifty.... What was the General's name that emailed him?

General? - not sure i follow

I'll try pull out the lads email he's been contacting anyway

RichardDennis68

dunstonh wrote: »

Can you clarify.... are you saying he has been asked to invest into their crowdfunding style scheme or are you saying they will investigate his mortgage for £5000?

Either way, these are scams or as about as close to dodgy as you can get without the board removing posts.

There was a thread the other day on this subject and an excellent post from someone who knows the mechanics behind these things and its effectively a ponzi scheme. A number of solicitors have been caught out by it and now they are trying to get mugs through cold calling to put their money in instead of the solicitor.



BS. MoJ doesnt regulate mortgages. The FCA does and and the FCA regulated complaints process is free to use and people are actually encouraged to put personal complaints in rather than use a parasite company.

Thanks Dunstonh, from what im gathering he was contacted regarding putting his money in to investing in the claims for them? Don't really know what that means to be honest but sounds fishy to me.

He says they can't use their own money as regulations dont allow them to? conflict of interest?

I'm going to try ring them myself tommorow as my dad is elderly and can be led easily these days!

ricky_v

Take a look at this thread on a similar topic



https://forums.moneysavingexpert.com/discussion/5732373/investment-in-litigation-funding


Read the replies and make up your own mind, however in my opinion it would be more prudent if your dad put his £5k on red.

davidmcn

RichardDennis68 wrote: »

General? - not sure i follow

Referring to examples like this one from my spam folder:

"I am Cpt.James Poisson, an officer in the US Army, presently serving in the Military with the 82nd Airborne Division Peace Keeping Force here in Afghanistan. I need your help in assisting me with the safe keeping of Two Military Trunk Boxes" etc etc

[I thought Cpt Poisson sounded a bit fishy...]

I'm going to try ring them myself tomorrow

I wouldn't waste your time. It's a scam. Just make sure your dad doesn't call them back either.