Trusted morgage claims 19 December 2020 at 12:54PM in Reclaim PPI & other insurance 2 replies 113 views

SC4688

Hi 
My husband has been contacted by trusted morgage claims say we could be entitled to over 16k from abbey (We are with Santander) and this is not interest free. They would like to come round for us to sign paper work. I would like some advice is this legit or a scam please.
Thankyou

dunstonh

My husband has been contacted by trusted morgage claims say we could be entitled to over 16k from abbey (We are with Santander) and this is not interest free.

No mortgage is interest free.

How have they worked out the £16k figure?     Based on other threads about these types of companies, the figure is plucked out of thin air.  Including the person who was told £23k despite their repayments to date coming nowhere near £23k. 

There is a distinct lack of success cases.   Indeed, nobody had seen a single success case posted here or anywhere else.   However, the CMCs dont need to be successful for them to make money.     They can earn from the ATE insurance sold to you as well as selling the case to a solicitor or the investors in litigation who will likely lose their money but not until the directors of the CMCs have drawn it for themselves.

The biggest fear for those entertaining these types of complaints is the ATE insurance and the credit agreement put in place under your name to pay for it if your claim fails.

In your case, how does this £16k tie in with your interest paid on your mortgage so far? (or repayments if you keep it simple).

Have you made overpayments to the mortgage? (this is an area where a couple of lenders did make mistakes but they have pro-actively contacted and paid compensation to those affected. There was no need to use a claims company).

Try and find a success case online.   I bet you won't.

The_squirrell

As always, the comment above is spot on. Do not sign under any circumstances as all you will be doing is committing your self to a loan and years of chasing your tail