Mortgage Claims
Are you worried that poor mortgage advice has cost you money?
If you believe your mortgage was mis-sold or that your lender has breached the terms of your agreement, you may be entitled to compensation. Whether it involves unsuitable advice, lifetime mortgages, or undisclosed fees, our legal team can help you recover what you are owed.
Claims against Mortgage Brokers and Lenders
We investigate a wide range of mortgage-related complaints. Many clients are sold mortgages that were clearly unsuitable for their financial situation or life stage. In particular, we are seeing a rise in claims involving:
- Lifetime mortgages sold to retirees to fund high-risk investments such as overseas hotel schemes (e.g. The Resort Group in Cape Verde).
- Mortgages arranged without clear repayment plans, especially for older clients.
- Brokers or advisers failing to assess affordability or suitability, or failing to disclose key risks.
If your mortgage broker did not provide clear, regulated advice, or pushed you toward unsuitable financial products, you may have grounds to claim.
Mortgage Lender Misconduct
Claims are also being brought against lenders (not just advisers) where the conduct breaches contractual or legal obligations. This includes:
- Overcharging of interest or fees that are not in line with your original agreement.
- Failure to follow instructions or agreed terms.
- Unexplained or excessive charges applied during the term or redemption of the mortgage.
These may not be regulatory failings, but they can still be pursued as a breach of contract.
Undisclosed Commissions
Some clients were unaware that brokers or lenders were receiving commission payments from third parties, particularly when these relationships influenced the advice given.
Failure to disclose such commissions may entitle you to compensation under common law and Financial Conduct Authority (FCA) rules. In certain cases, these non-disclosures have led courts to declare entire agreements unenforceable.
Mortgage Claims FAQs
What happens if I choose to instruct Claim My Loss?
Once you instruct us, we begin by gathering the necessary documentation. This may include your mortgage agreements, financial history, and any correspondence relating to the transaction. From there, we identify who may be at fault, this could be the broker, lender, or both. We then work with independent experts to quantify your financial loss and calculate what you may be owed. Finally, we seek redress, whether through direct negotiation, the Financial Ombudsman, or legal action if needed.
Do you have experience with mis-sold mortgage investments?
Yes, our team has successfully recovered losses from both mortgage brokers and providers. Many of our clients were misinformed or unaware of the long-term implications of the products they were sold. We understand the complexity of these cases and work to ensure you get the compensation you deserve.
What legal precedents support these types of claims?
A key case we often reference is Emptage v FSCS [2013]. In this case, the court ruled that compensation was due when a regulated mortgage was used to fund an unregulated investment. The outcome confirmed that redress can still be appropriate even if the investment itself was high-risk or ultimately failed, particularly when a mortgage product facilitated the loss.
Can you share examples of successful cases?
We’ve helped many clients recover their money. In one case, a retired woman received £500,000 from a life insurance payout after her husband passed away. Her bank transferred the funds into an unregulated hotel investment in Cape Verde, which failed. The bank was held liable for not performing due diligence, and she recovered the full amount.
In another case, a lifetime mortgage was arranged to invest in a similar scheme. Due to the client’s age and retirement status, the advice was deemed unsuitable. We’re currently pursuing both the broker and the lender for full redress.
Where can I read more real-life stories?
You can explore our client stories to learn how we’ve helped others in similar situations.
How long do I have to make a mortgage claim?
Time limits vary depending on the circumstances, but in general, you have six years from the date of the event – or three years from when you became aware of the issue. Even if you’re unsure when that was, we recommend getting in touch as soon as possible so we can assess whether you’re still within the time limits.
What compensation can I expect from a mortgage claim?
Compensation is typically based on the financial loss you’ve suffered due to the advice or product. This could include the amount you invested or borrowed, interest paid, and any ongoing financial impact. We’ll work with independent experts to provide a detailed valuation of your claim.
What is the process for making a mortgage claim?
The process begins with a free consultation to assess your eligibility for a claim against a broker or lender. If we believe you have grounds for a claim, we’ll gather evidence, carry out a full investigation, and provide an estimated valuation. We’ll then guide you through the next steps – whether that’s direct negotiation, referring the matter to the Financial Ombudsman, or taking legal action if necessary.
Worried you may have been a victim of investment mis-selling?
Yes, it is possible to seek compensation if you have been mis-sold an Investment. Get in touch today with our experts claim advisers.
Steps to Seek Compensation
1. Gather Evidence
Collect all materials related to the promotion, including adverts, emails, contracts, and transaction details. Our team can assist with gathering evidence by writing to the various parties involved, however if they are unregulated our power to demand information is somewhat limited, therefore we always advise you to gather as much information as possible.
2. Assessing your claim
We will analyse the evidence and determine the most effective way to proceed with your claim, while also providing an estimate of the losses you have suffered. Our goal is to identify the route with the highest likelihood of success; however, in some cases, we may pursue multiple claims on the same matter.
3. Submitting Your Claim
Our team will conduct a detailed interview with you to fully understand your circumstances before preparing and submitting your complaint to the relevant parties.
4. Escalation to the Financial Ombudsman Service (FOS)
If the promoter is FCA-authorised and does not resolve your complaint satisfactorily, we will escalate your case to the FOS. The FOS can award compensation of up to £375,000 for complaints made after April 2023.
5. Pursue Legal Action
If we are unable to achieve the desired outcome through the FOS, or if the promoter is unauthorised and we cannot escalate your complaint, we may advise you to pursue a civil claim through the courts.
Mortgage Claims News & Updates
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