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Mortgage miscalculated
DEFREE
Posts: 2 Newbie
Hi I received a Facebook ad which stated that due to recent changes in the law, 1 in 3 homeowners have had their mortgages miscalculated. They continued to state that the average payout was £25,000. I haven't contacted the company, but was wondering if this is genuine? If so, then is this something which I could do myself without going through a company? We have had three mortgages over the past 35 years. I look forward to hearing from anyone who has had experience of this.
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Comments
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No, it's a scam.
If you think there was an issue with your mortgages, contact the lenders and detail the reasons why you think their maths were wrong.Mortgage started 2020, aiming to clear 31/12/2029.2 -
Facebook ad . No further comment required. Scam.2
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At a guess this relates to mortgages that were calculated with annual interest rather than daily? In any case, this isnt a "miscalculation"2
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If you live your life by the simple rule that anything you see on facebook is !!!!!! you won’t go far wrong.3
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Go for it.
It's definitely true and you could end up a millionaire.0 -
Well known scam. Par for the course on scambook.
You should see the costs that people that fall for it have to suffer.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.1 -
OP why do you think a 'Facebook ad' is genuine? There has been alot of these threads over the last few months sadly"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP1 -
How would a change in law result in your mortgage being miscalculated?
If a bank knows they have calculated your mortgage (or any product) incorrectly, they MUST contact you to let you know and refund you the difference automatically.
Also just imagine how badly the bank would have had to mess up on the calculation for you to be due £25,000. It is not like they have rounded it up at the end of the month and charged you an extra 35p each month.
Have a look at what these companies charge - No fees? What about an insurance policy? No insurance policy then what happens to your details? Do they get sold on?
I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.1 -
Thanks everyone for taking the time out to confirm my suspicions.0
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