Mortgage Claims - Sign or not to sign

dunstonh

time-4-a-new-start wrote: »

Ok. As it's not insurance I would have to make a direct claim myself against the mortgage provider first and then go to the ombudsman after?

Just having an interest only mortgage is not grounds for complaint. You must have received advice. And you must have bought the interest only mortgage after October 2004 (and not had it previously).

If you bought the mortgage from a bank then its unlikely you received advice. Most banks used non-advised sales pre-credit crunch. So, they can just reply to any complaint that they did not provide advice you chose the product.

If you bought via a broker, then you complain to the broker as they didn't do non-advised sales. Although not all mortgages were regulated pre-credit crunch.

It is important you realise that unlike a bank, a mortgage broker is likely to be small local company with a handful of staff. Any try-it-on complaint is going to impact on the mentally and financially even if rejected. You are not complaining against some faceless multi-national bank here. So, think seriously before you attempt to ruin someone's life.

Mortgages_adviser30

Or you could just take responsibility for the fact that you took out an interest mortgage of your own fee will and now you're trying to place the blame on someone else for helping you get the mortgage you wanted?

[Deleted User]

Old thread.

Myatoc46

We enquired with mortgage claims if we had been over charged interest on our repayment mortgage with Northern Rock now whistle tree, & after looking into this they said that we had a case & we would be passed to their solicitors, quanta law. We digitally signed their paperwork to go ahead with the claim but are now worried after hearing about quanta law that we will just be left paying a loan for their fees! Is there anything we can do?

[Deleted User]

Check the terms of what you signed to see what cancellation clause is in there

And don't sign any more contracts with claims companies. There's easier, and more enjoyable, ways to dispose of your money.

The_squirrell

That will be Quanta Law who are based at the same address as Mortgage.Claims and have been set up entirely by them to handle the spurious and unfounded claims for compensation that these loans will pay for! While Mortgage.Claims say they earn nothing from you......they most certainly do!



The usual advice applies here. Steer well clear! Offering quotes of £000's in order to get people to sign is simply misleading and designed to make money for them and nobody else!
I appreciate that this is an older thread, but the demise of the PPI gravy train is seeing these bottom feeders rise to the surface and this will become more relevant over the coming months I fear!