Mis-sold Mortgage Service Opens For Compensation Claims

FOR IMMEDIATE RELEASE
09/03/2010

Missold Mortgage has launched its new service to win compensation for people who have been the victims of mortgage mis-selling in the United Kingdom.

London, U.K. - 09/03/2010 - Missold Mortgage is pleased to announce the launch of its new website based service to help people who have been mis-sold mortgages to claim compensation from their lenders.

Hermione Abbot, a spokesperson for the Mis-sold Mortgage website, said that the new resource would be a "wide ranging service for tens of thousands of people whose banks, brokers or IFAs have put the size of their own commissions before the best interests of their clients".

A mis-sold mortgage may be considered to be so if it does not fit well with both the requirements and circumstances of the applicant.

In some cases unemployed people or people on benefits have had their applications falsified in order to get a mortgage with repayments which they were totally unable to meet, even for the first month in extreme instances.

The Financial Ombudsman Service, the CCCS and CAB have already expressed misgivings about the extent of the problem of mis-sold mortgages.

"These tactics feed on the greed of the lender or broker", said Abbot. "While most are honest and reliable, we've seen some outrageous mis-sold mortgage cases which have not stood up in court, and our clients have been awarded substantial cash compensation".

But even much less outlandish examples of mis-sold mortgage are resulting in ordinary working people getting huge sums in compensation. "There is a whole checklist of things which may determine whether or not mis-selling was involved. There is also a growing list of lenders who have already been prosecuted for such mis-selling, and this is a crucial point: if a client's lender happens to be one of these then getting compensation is only a formality as the matter is already considered legal precedent."

Other types of mortgage which are apt to being described as mis-sold include some self-certification mortgages, being advised to switch lender without being warned of the penalties, being charged large fees for various spurious reasons, having the end date of the mortgage beyond ones retirement date, and other types of bad advice.

"Even repossession orders have been known to be overturned in the light of a mis-sold mortgage coming to light", said Abbot.

The Mis-sold Mortgage service exists for all residents of the UK who have a mortgage either now or who have recently had one. There are no upfront fees and all cases are handled on a no-win no-fee basis.

Contact may be made by using a simple webform at the web site:
http://www.missold-mortgage.missold--mortgages.co.uk
Telephone: 0208 421 0485

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