Reclaiming overpaid Mortgage Interest - is it a scam?

Hi everyone, I'm interested to hear from anyone who has successfully reclaimed 'overpaid' mortgage interest through companies such as Trusted Mortgage Claims.
Ive seen some threads where people say this is a scam but don't elaborate further.
The firm talking to me currently seem to promise in excess of £15k only if we agree to insurance and engaging with Novitas. They are seeking to send a person to our home address to get copies of our ID docs and confirm our engagement, and the claim will take 9-12 months...
My scam radar is bleeping and all I have found so far is low score reviews for the companies quoted who are involved in our 'claim'
The last thing we need is to get into loans for legal costs or jeopardise our relationship with our mortgage provider.
Where can a person go for a sanity check on this type of 'claim' ?
Clearly I don't want to go to my Mortgage provider yet nor discuss it much further with the claims company!

Has anyone received their minimum £15k ?

I appreciate all feedback ;)

Comments

  • SpiderLegs
    SpiderLegs Posts: 1,914 Forumite
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    Of course it is a scam. Minimum 15k !!!!!!.


  • Oh for goodness sake please do not do this!
    Trusted Mortgage Claims are an absolute joke. Ignore all the promoted reviews on TrustPIlot. The figure they quote is absolute nonsense and the "calculations" they use have absolutely no basis in fact. I have had dealings with them for well over 18 months now and have yet to see one case where their submission is correct. Their administration is appalling and they will often request the same information multiple times ( presumably as they keep losing it ). All they will do is submit a subject access request and then pass all your personal information  onto another firm who may or may not do something with it. Their Letters of Authority clearly state that your details may be passed to "any other third party" so all your personal information will be out there. There really are so many more reasons I could go into, but for you and anyone else reading this, just don't do it.
    If you think there has been a mis calculation, just check your statements against a freely available mortgage calculator. The insurance they talk about is meaningless. Just search for Allansons Solicitors who also promised much on this type of thing, to see how worthless the insurance was in those cases!
    I work in Data Protection and spend my days dealing with CMC's. Only here trying to help!!
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    I think they sound very good.  After all, they have the word 'Trusted' in their name.  And if you can't trust someone called Trusted, who can you trust?

    Plus a guaranteed 15k.  Kerching!
  • LABMAN
    LABMAN Posts: 1,659 Forumite
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    This is about nothing more than sheer greed and avarice.
  • dunstonh
    dunstonh Posts: 116,231 Forumite
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    edited 11 March 2020 at 11:25AM
    The firm talking to me currently seem to promise in excess of £15k
    Someone posted on a thread the other day that the figure they were "promised" by their claims company was greater than the total amount they had paid into the mortgage since it started.   They were suggesting that the figure is completely made up because of that.

    How does that £15k relate to what you have made in monthly payments?   

    You may wish to read this thread:
    https://legalbeagles.info/forums/forum/money-debt/reclaiming/claims-management-companies/1491708-mortgage-overpayments-claim-companies-genuine-or-scam

    Has anyone received their minimum £15k ?
    The banks have actually been doing some refunds.  However, typically the figure is pennies or a handful of pounds.  
    A few years back, Halifax refunded tens of thousands of people £10 due to overcharging interest.  Everyone affected was only out by pennies or a few pounds.  So, Halifax refunded £10 to each borrower (£20 if joint).
    The co-op had an issue as well and it pro-actively contacted those involved.   Theirs was generally larger as it was a fault in the consumer credit act for a period and interest charged in that period was refunded.
    In both cases, no CMC was required and the FCA was informed and they tracked the process.


    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • -taff
    -taff Posts: 14,458 Forumite
    First Anniversary Name Dropper Photogenic First Post
    edited 11 March 2020 at 2:14PM
    Scam. If someone offers you something for nothing, or asks you to give them money for which they will in the future give you even more money, it's a scam.
    Shampoo? No thanks, I'll have real poo...
  • lincroft1710
    lincroft1710 Posts: 17,600 Forumite
    Photogenic Name Dropper First Anniversary First Post
    I guarantee to get you exactly the same amount as this firm would actually get for you, for half their fee
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
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