Mortgage Claims

There are hundreds if not thousands of people making mortgage claims on a daily basis. These claims are for mortgages that were mis sold. Most people when entering into a mortgage agreement are not actually fully aware of all the laws involved and sometimes, it is easy to get caught out and end up with a mortgage that was not actually legal in the first place. Most mortgages that are mis sold are handled by a brokerage; this can either be an individual broker or broker’s agent, or a company that acts as an agent for a larger lending firm or bank. The reason why some mortgage brokers are so intent on selling mortgages fast is because they are paid a substantial commission for each mortgage that actually goes through. Therefore some brokers will use any means necessary to put the deal through.

What to look for to find out if your mortgage was mis sold

* Was your mortgage sold to you without being fully explained?
* Did you sign a contract without being fully aware of all the costs involved?
* Were you asked to exaggerate your earnings?
* Did you have bad credit and were not told the interest would be higher?
* Was it a sub-prime mortgage?
* Were you self-employed and therefore self-certified?

These are just some of the reasons why your mortgage could have possibly been mis sold. There are a wide range of other reasons. However to find out, you would actually have to speak to an expert in this field. Because there are so many things that you might not even think are important but when they investigate them, they could find out that you are actually entitled to claim some compensation for receiving a mis sold mortgage.

What to do

Gather all the documents that came with the loan, if you find that you are not sure whether or not you are entitled to some form of compensation, and then make contact with an expert. If you didn't know, there are firms that are specialists in the field of mis sold mortgage claims. Therefore if you are concerned that you have been mis sold a mortgage then you can approach one of these companies. What they would normally do is, assess your claim by going through all the details of the mortgage with a fine tooth comb. Once they have gathered all the details, they can tell you whether or not you would qualify to claim. Once they have established that you qualify, you obviously have to fill out various forms and provide as much information as possible. They would then proceed with your claim.

How long before you get your money?

There is no definite answer when it comes to how long it takes to receive your money; however most companies do say that it can take between 8 and 12 weeks.

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