There are thousands of thousands of Britain’s struggling with mortgages that they should not have taken – and likely wouldn’t have had they not fallen prey to unscrupulous or poorly trained salespeople. Mis sold pension mortgage price households dearly annually and pile tension and distress on overstretched incomes.
However, what do you do now in the event that you believe you’ve been mis offered a mortgage?
1. Attempt to solve it
Try all you can to solve the issue of unaffordability with your lender even in the event that you think they are to blame and also have mis offered you a mortgage. You might need to change to an interest only mortgage or have a payment holiday. In least, when you’ve missed a payment, then don’t dismiss the issue because it may escalate and lead to your lender using to repossess your home.
2. Speak with Your lender
While speaking to your lender, begin reducing the amount of money you spend each month. Cut back on unnecessary cost and search for methods to reduce invoices, especially broadband, utilities, cable TV and mobile phones.
3. Start putting your case together with the following as a guide:
Have you been shown a selection of merchandise that was appropriate or just pushed towards you? If it appears to be an advisor is giving a nod to the processes and providing you the hard sell or reading from a script, then you’ve got grounds for a claim.
4. Collect evidence
Collect all of the evidence together that you’ve got. Ensure that you start all your email if you harbor and get whatever filed in date order.
5. Decision time
Choose whether you would like to take care of your own mis sold mortgage maintain yourself or employ an expert to do so. It can be tricky to take care of a lender in the best of times and much more nerve-wracking once you aren’t sure or hate confrontation.