If you think you have been mis sold mortgages or want more information then please call 01543 462 357 to find out how we can help.

Take the initial Mortgage Audit Test & see if you could have a claim for redress or compensation.

We have a team of audit specialists with vast experience within the compliance auditing sector. They are fully trained and will audit files from all parties involved within the mortgage trail. Our audit team are trained to look for any and all potential breaches recognised by the regulator.

Our initial appraisal is without obligation and will give you a list of potential breaches based on information you supply. Although this is not a full audit, it will provide you with security that there may be issues worth challenging your lender or broker about the advice and recommendation given.

Our aim is to obtain compensation and/or redress to your contract from your broker based on the Mortgage Conduct Of Business (MCOB) rules “treating customers fairly” and that your broker or lender should put you back into the same position you were in prior to taking out this mortgage or loan.

Do you think you have been mis-sold?

Most people just know or have a feeling that they might have been mis-sold a mortgage or loan and it's on these thoughts and feelings that it is worth speaking to a DPSP advisor to see if you might have a claim.  Whether you have a buy to let mortgage, right to buy mortgage, fixed mortgage, second mortgage, a bad credit mortgage or a first time buyer mortgage, we are confident we could help. Misrepresentation and professional negligence is recognised by the FSA as a widespread problem.

How can I tell if I have a mis-sold mortgage?

If you have a mortgage that is with a sub prime or specialist lender that you arranged via a mortgage broker, are you sure you were given the right advice?

A great question to ask yourself when thinking about submitting a mortgage audit is....... If you knew then, what you know now, would you still have agreed to the mortgage?  If not why not?

In 2008 the Financial Services Authority announced that it was concerned about the growing problem of mortgage mis-selling.

Over the past 12 months the Financial Services Authority has banned many mortgage brokers from trading, for not having strict controls in place, not treating customers fairly under MCOB rules and not ensuring suitability or affordability of the new mortgage.

The Times newspaper in November 2007 reported that more than 371,000 home owners believe they may have been given bad advice or have been mis-sold mortgages.

A spokesman for the Financial Services Authority on the subject of mortgage brokers giving bad advice and mis selling mortgages said, “We found some willing to offer mortgages they know to be unaffordable and to accept self cert business even when they had concerns that the financial information provided by the customer was implausible. These practices are completely inconsistent with treating customers fairly.”

There are many circumstances that may constitute professional negligence or mis-selling.

Can you answer YES to any of the questions on the Mortgage Audit Test, if so, you might have a claim - CLICK AND TAKE THE TEST.

Did one or more of the following happen to you when you were being advised about your mortgage during the sale process?

• Was it suggested that you applied to a specific lender for “speed”?
• Did the correct process for the mortgage sale take place?
• Were you provided with an Initial Disclosure Document by your mortgage adviser?
• Were you provided with a copy of the mortgage Fact Find Document by your adviser?
• Were you provided with a copy of the Key Facts Illustration by your mortgage adviser?
• Was regular overtime, commission or bonus payments stated as being guaranteed?
• If you were self employed, did the stated income figure match those notified to HMRC or was it suggested that a different figure be noted?
• Were you advised to go down the self-certification route when there was proof of sufficient income to qualify for the mortgage?
• If you were re-mortgaging to consolidate debts, were you advised of the additional costs as a result of this by extending your repayment period?
• Were you advised to change the purpose of the remortgage application to fit a lender’s criteria?
• Did any minor adverse credit that you might have prevent you going with a ‘High Street’ type lender or were you recommended to a so-called ‘sub-prime’ lender?
• If you were advised to take an interest-only mortgage, were you made aware of the need to have a repayment vehicle in place to repay the capital debt at the end of the mortgage term?
• Were you contacted to change your mortgage by telephone by a company ‘out of the blue’ or by an adviser you already knew?
• If you were contacted, had you given them your permission to call?

 

DPSP - 65 Heath Gap Road, Cannock, Staffs WS11 6DY.

Tel: 01543 462 357    Fax: 0844 2250713    Text: 07540 685832     Web: www.dpsp.co.uk

CLR PR Ltd – T/A Debt & Property Solutions Plus (DPSP).  Consumer Credit Licence No: 620631.  Data Protection Licence No: Z1426079.

Debt & Property Solutions Plus Ltd (DPSP).  Ministry of Justice Registration No: CRM21101.  Data Protection Licence No: Z2430403