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mortgage prisoners and unregulated mortgages - class actions
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junerose1
Posts: 3 Newbie
unregulated mortgages - could these be defined as 'mortgage prisoners' -
to MSE and Martin Lewis :
are their any CLASS ACTIONS other than the Northern Rock and Bradford and Bingley actions- that might help the thousands of customers on these products?
if so which legal teams are they?
to MSE and Martin Lewis :
are their any CLASS ACTIONS other than the Northern Rock and Bradford and Bingley actions- that might help the thousands of customers on these products?
if so which legal teams are they?
0
Comments
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Which products and lenders are you referring too?0
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Any of the products. For example, say, Heliodor interest-only.0
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unregulated mortgages - could these be defined as 'mortgage prisoners' -No. That is not part of the definition.
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.0 -
Hello - there is talk of class action and I am unsure why mortgage prisoners are not defined by interest only and BTLs. Anyhow all change in 2025 - as diff scenario now.0
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Interest only is not in itself a mortgage prisoner.
BTL mortgages are not regulated.
A mortgage prisoner is someone who is stuck on SVR and can not move to a better deal for whatever reason so will always be paying over the odds.
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.0
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