How to claim for financial mis-selling?
What is financial mis-selling?
Mis-selling occurs when an individual is given inapt advice from a financial advisor, who fails to explain the full conditions of their purchased financial product.
This usually results in some sort of financial difficulty for the procurer, which can be resolved by making a mis-sold claim.
At Mis-sold Mortgage Experts, we can advise and assist anyone with a claim for a mis-sold pension or mortgage, which – if successful – should enable them to return to their existing economic position before the financial product was purchased.
What constitutes a mis-sold mortgage?
If you were given inadequate advice from a financial broker regarding your mortgage, you may have been mis-sold. There are numerous ways that mortgage mis-selling can occur, including:
- You were advised to take out an interest-only mortgage, which allowed you to pay off your interest on a monthly basis until it expired, although you must now repay the full amount – resulting in financial difficulty
- You were offered a self-certification mortgage, which does did not require proof of income, this allowed you to overstate your income in order to obtain a mortgage that you could not actually afford
- Your financial broker recommended switching lenders without informing you about additional fees and penalties
- Your financial advisor instructed you to re-mortgage in order to consolidate your debts, although they failed to inform you of the long-term payments you would be paying as a result of re-mortgaging
- You were not informed that you would be paying an unreasonable amount of fees to your financial broker, which may have been added to your mortgage bills
What is a mis-sold pension?
Pension mis-selling occurs as a result of being wrongly advised or given inaccurate information regarding your chosen pension scheme, which has resulted in you losing out on payments or benefits. You may have been mis-sold your pension if you experienced the following:
- A ‘fact find’ was not conducted by your financial advisor, which is usually required to establish your financial situation
- Your financial consultant did not explain the full conditions of your pension investment
- You were advised to transfer to a different pension plan, although it was unsuitable for you in terms of your age and financial circumstances
- You were not informed about the risks regarding pension transfer including loss of benefits and additional costs
- You were not offered the opportunity to shop around for a suitable pension scheme that meets your requirements
Make a claim with Mis-sold Mortgage Experts
At Mis-sold Mortgage Experts, our professional solicitors ensure that every individual claim is a top-priority, offering expert advice and assisting with all the fundamentals of a mis-sold claim. We will ensure that all your needs are met and that you are offered the compensation you deserve, which will allow you to return to your original financial condition before being mis-sold.
For further information on our financial mis-selling compensation service, speak to one our expert advisors via email or call us on 0800 756 3986.