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Knowing If You Have Been Mis Sold Mortgage

13th April, 2011 - Posted by Erica - No Comments

It really is heartbreak for a person to find out that he has been mis sold mortgages. Mis sold mortgages really complicate one’s life because it sucks away so much of a persons’ hard earned money and many cases it is unknown to the client that he has been paying for a mis sold mortgage. The Financial Services Authority (FSA) has stepped in to combat this issue. On April 2004 the FSA set a strict and concrete set of rules and principles called Mortgage Code of Business (MCOB). Even with the advent of the MCOB there have still been a high number of violations for mis selling mortgages. If you have gotten a mortgage it is empirical to review your policy and determine if you have been a victim of mis selling mortgages.
Your mortgage is deemed to be mis sold if you were:
? If the broker planted doubts in you to know all of the facts of your application.
? Given a selection of mortgage types.
? PPI was sold with your loan or mortgage.
? Coaxed you to opt for a special mortgage provider for haste and efficiency.
? Said that you could only go for a sub-prime mortgage plan.
Remember, lenders should not be trusted easily because their main purpose is to make more money out of you. Keep your head up and read all the details of your mortgage and this could save you a lot of trouble and suffering in the future.

Related posts:

1. Have You Been Mis-sold Mortgage Loans?
2. Troubles Brought by Mis-Sold Mortgages
3. Banks Continue to Ignore FSA Over Mis-sold PPI
4. Things To Consider In PPI Claims