Mis Selling Mortgages

dunstonh

On 14.12.22 I paid them £1,495 to continue with the legal work necessary to recover my miss sold mortgage costs.

Oh dear.   They have seen you coming.

Myrrhman

5504vicki said:

I hope you can help me please.

I have been contacted by a company called Lawcost Legal Limited who apparently have bought out Commitments Protection with regards to mis selling of mortgages.

I did have a PPI claim with Commitments which I was paid out back in 2006.  I also paid Commitments 2 lots of £354 for them to look in to mortgage mis selling for me and never heard anything.  Lawcost have told me that the reason I did not have a response was that the 2 payment of £354 was to pay solicitors to take on the case and then Commitments went in to liquidation so my money was lost.

Lawcost have now approached me as they have all my previous details from Commitments Protection regarding mortgage mis selling going back as far as 2006.  He explained that they were a legal company and went in to thorough detail regarding who the company are. He carried on to tell me that potentially I could have thousands of pounds due back to me and this could be done within 8-12 weeks. 

They gave me 4 possible options to continue with this, they are:

Option 1    I could use a solicitor who would charge approximately £6000 and would take 5 years to process and then solicitors would take 35-40% fees.

Option 2    Try to claim this on my own which would be quite difficult as it is not same as PPI

Option 3    Do Nothing

Option 4    Appoint Lawcost to act on my behalf but they would want an upfront one only fee of £ 1495 including vat.

Obviously with the cost of living crisis Option 4 would not be possible what so ever.  So what I am emailing for is to ask if this is possible to do by myself or would I struggle to do this?

Any help would be much appreciated as I have not got the money to pay upfront but at the same time do not like the idea of having thousands of pounds available for me that I can not get a hold of.

Many Thanks

Hi, I realise this is a bit late but my parents just contacted me about the same company so I did a bit of digging. The two directors of Lawcost were also the directors of Commitments, Paul Hunt and John Maher. Prior to that they were directors of Second Mortgage, the company which my parents were told that they could originally make the claim against.

I don't understand how these people are still allowed to be directors.. 

Strummer22

Myrrhman said:

I don't understand how these people are still allowed to be directors.. 

Given the ease with which director details can be found on companies house and the wealth of evidence against scammers (including these guys) I don't understand how it seems impossible to ban proven scammers from becoming company directors. Either the government needs to pass new legislation to this effect or those affected can take matters into their own hands (not that I recommend this at all!).

Paul Hunt is easy to find on LinkedIn. Read his profile for a chuckle. Here's an excerpt:

"John Maher and I have created a partnership with Middletons Solicitors creating a new product called "​ The Solicitor in the briefcase"​ which is our next venture that we intend to make a huge "cash cow"​ and turn this into a virtual business that makes many millions of pounds that will be shared in by those contributing into the eventual gain "  

e30dan

This company have been calling me for about 6 months as commitments had my details (ripped me off) which I told them about, I said I would only be interested if they could get me back the money that commitments scammed me out of, the guy that spoke to me said he would look into my case as a favour, they came back to me and said I have a miss sold case and am due compensation, he congratulated me over the phone 
This is the email they sent---

It was great to speak to you earlier, as discussed, the following points were discussed and confirmed:

An expert witness has confirmed in an audit you have MCOB rule breaches.

As discussed you were accepted onto the no win no fee scheme against the lenders, in its current state all lender cases are stuck in the covid court closure queue, the timescale is completely unknown and when work begins (3-5 years estimate) will be subject to a 35% plus vat charge.

You now qualify  for the below  option.... 

Upon investigation of the successful cases (361 with a Quantum of 6.7M) 90 percent of the quantum was down to overcharges, we are able to deal with this directly by requesting another Mortgage Audit which will include the overcharge pack documents to send to the Mortgage Lenders, this will enable you to gain a full data report on charges from the lenders within eight weeks and for a payment for closure of £564.00

Bee Legal have confirmed overcharges and this will be forwarded to the ombudsman should the lenders not react with full figures.

Cases as above achieved a minimum of £10,000.00 and an average of £18,000.00

Should the lender not provide the data within 6 weeks we will then approach the Financial Ombudsman and the lenders could begin to be fined because of the work, length of time and financial investment by you with proof there are many anomalies attached to your mortgage.

There will be NO other costs attached at the end of the successful cases ; you receive all funds found directly.   

I hope this helps and will call you later in the week.

Rgds

(Removed by Forum Team)

Senior Account Director

M 07764 .(Removed by Forum Team)

They are phoning me this week at some point, no doubt to ask for my card details....

I intend to ask for an email of what happens once I have paid, how are they regulated to claim money on my behalf and a few other things mentioned here, will post the email up to hopefully warn others away

HobgoblinBT

Companies House makes interesting reading.  The 2 main directors have a history of multiple company insolvencies in the financial services sector including the selling of mortgages and failure to comply with financial services regulations, non payment of corporation tax and employment taxes.  

I wouldn’t touch them with a barge pole.

keithb1953

I have had dealings with this company and am not impressed. Started late 2022 and still nowhere. Extra payments on top of the 1495 for ‘expert witness statements’ , ‘audit’ etc 
I got very annoyed on phone about ‘extras’ and said I wanted written confirmation there would be no more surprises , got verbal but never received written confirmation.
I am dealing with FOS now but not hopeful
After reading this thread looks like I’ve been had.