A mortgage is a kind of a loan and it is common to be offered a PPI policy when you get a mortgage. The problem is that most of the PPI in mortgages have or is considered to be mis sold mortgage. The thing that we should all know is that mis sold mortgages could be claimed for. You could possibly get back what you have paid for and with interest or damages. How do you know that you have mis sold mortgage. It is easy you just have to answer some simple questions first. The questions are:
1. Are you self-employed or unemployed at the time and moment that you have signed for the PPI cover on your mortgage?
2. Did you feel pressured to get the PPI?
3. Were you told that a loan or mortgage was not possible if you did not have PPI?
4. Did you have to pay upfront for the PPI and was not informed that PPI could also be paid for monthly?
5. Were you not told of the exclusions that could make or render the PPI on your mortgage invalid?
If your answer is yes to all these questions then you have been mis sold mortgage and you could make a claim for it. The links on this article would help you get started on your fight to claim what is yours and get justice for the financial suffering that you have had to endure.
Mis-sold Mortgage
Where Do You Go When You Have Mis Sold Mortgage?
A Mis-sold Mortgage Captured the Authorities’ Attention
It is certainly impossible for you to sustain your monthly repayments if you have a mis-sold mortgage previously. A lot of mis-sold mortgage cases are basically due to the greediness of many financial institutions and careless sales agents that are linked with them. Sometimes, an agent tends to manipulate their clients just to convince them to get a higher loan that are unsuitable for them. Some clients are being happy with it, thinking that the money they took-out from the loan could help them a lot. Not thinking of the future that they will actually have to pay a lot interest that they can not really afford.
The Financial Services Authority basically expressed their concern about the manipulative and negligent brokers as well as the big financial institutions. Actually, guideline principles known as the Mortgage Code of Business are released by the FSA to help the people think twice in trusting brokers and companies where they decided to pull-out a loan in 2004. But however, even thou the FSA released this guiding principle; still plenty of mis-sold mortgages are still reported. But that doesn’t stop them, they just find a way to determine if you are still offered a mis-sold mortgage of these brokers and financial companies.
Now ask yourself, “Did the broker manipulate me? Ask me to change some facts on my Loan Application form?” If your answer is “YES” maybe you have a very serious problem. Go out and seek for guidance as soon as possible.