Missold Mortgage Claim FAQs
Will my mortgage be affected
No, you will remain on the same mortgage as you currently are. If successful you will receive a cash compensation amount direct to yourself. This will not affect your mortgage
What happens if my lender no longer holds my mortgage documents
Your lender should only delete or destroy documentation if your mortgage has been redeemed or your mortgage account has been closed for over 6 years. However, we may still be able to help if you hold any documentation relating to your mortgage, such as the Application Letter, Offer Letter and Mortgage Statements.
I have a joint mortgage account but only wish to claim for myself
Yes you can claim and you will receive 50% of any award. When completing the claim form select Single instead of Joint when asked.
Can I claim if I am on on IVA or Debt Management Plan
It would not be advisable as any compensation awarded will go to your creditors and not to you. Wait until the plan is completed then you can apply.
Can I claim if I no longer have the property that was mortgaged
You may still be able to claim in the event of the following:
- Your property was repossessed as you could not afford the mortgage payments
- You have sold the property to downsize or rent
How long does a claim take to resolve
Claims are expected to take up to 8 weeks to complete and after that they are referred to the Financial Ombudsman