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Why use Mortgage Audits?

We have formed a unique concept and implemented our skills in order to assist mortgage holders audit their mortgage contracts, to establish if their mortgage was submitted and completed fairly and professionally. All cases referred to us will be dealt with promptly and confidentially and professionally.

Can we audit mortgage applications pre FSA

Yes we will consider MCCB mortgage contracts (Mortgage Code Compliance Board 1996-2004) was a voluntary code/club. The regulation was strict and disciplined, professional advisors and lenders had regulatory principles and procedures to adhere to in order to become a member. (Leaflet available on request). Note there is time barring issues with these type of cases in any complaints process.

What if the broker has gone out of business?

If the lender, mortgage advisor, broker has ceased trading or had their licence withdrawn, we will seek and apply for redress or compensation from the (FSCS ) Financial Services Compensation Scheme, or any other relevant acting body preceding this department. Note this organisation is of last resort and evidence of negligence and loss will be required.

What if the broker does not reply?

If the mortgage advisor, lender or broker does not reply we will enforce or challenge their actions, either reporting and formally complaining to the Commissioner’s Office (Data Controller), the firms regulator, instruct solicitors or report breaches and the file to the Financial Ombudsman Service to enforce relevant action.

What if I do not have the broker or advisors details?

We will investigate in order to find the mortgage advisor, lender, broker or mortgage club. The Financial Conduct Authority has a web site with information and details that can be searched. Often these details can be found within information supplied by the lender when we investigate a file.

Do you always instruct solicitors?

In brief no! – There are several levels of breaches and complaint and not always will we instruct solicitors as experience shows that lenders and mortgage advisors often want to avoid complaints and legal action by offering to put the client back to the financial situation they were in prior to the commencement of the contract. At this stage we may advise you to avoid litigation and complaints if this route is not acceptable.

What can I claim for?

Conflict of interest (if the broker placed you in a mortgage that was unsuitable for you, possibly because it gave him a better commission).

Poor advice with regards to: sub-prime lenders, lending into retirement, false self-certification applications, and general mis-selling.

Loss and shortfall of proven wrong interest rates charged.

Undisclosed commissions and high fees wherever mis-represented.

Misrepresentation (if the broker advised you incorrectly about the benefits of the product and/or failed to tell you about its failings).

Regulated breaches(these are complex to explain, suffice it to say in exceptional cases we may be able have your contract redressed in order to put you back to your financial position prior to taking out this contract). Note that evidence of loss will be required.

Can a review be carried out on a mortgage product that I no longer have?

We will perform product reviews on mortgages wherever possible and request information from your lender or advisors even when you have remortgage or paid off the mortgage.

Is success guaranteed?

It is not possible to guarantee success with any kind of claim. Our full audit will reveal any breaches of mis-selling or lack of compliance and at this stage we will challenge your lender or advisor.

Will I receive a full refund if you cannot help me?

We offer a fourteen day cooling off period and will refund in full all monies paid during this time. If we fail to supply an audit we will also refund any fees paid.

When do I need to pay the fee?

Although we are happy to appraise your application initially for free and without obligation, we will require you to pay the fee to enable us to properly assess the merits and shortfalls of the case. We will need to obtain documentation from all parties involved and investigate for any breaches that have caused you a loss. (See our terms of business).

What are the timescales for the process?

Each case can vary in the time it takes to complete with much of this variation being related to the speed of response by the lender. Claim types can be expected to last from at least twelve months upwards depending on the complexities of the case. Lenders or mortgage advisors may agree to the claim and wish to settle immediately.

Will I be ‘blacklisted’ by the lender if I make a claim?

If you make a claim against a company then, in accordance with ‘treating customers fairly’ rules, you should not be treated any differently to other clients.

What is mortgage mis-selling?

Mortgage mis-selling is not a legal term; it is a way to include all the potential breaches and/or mis-representations by any of the parties involved in the mortgage.

Could you write off the balance of my mortgage?

For successful cases we will be able to obtain compensation or redress. Even though it is possible that we could request the balance of your mortgage to be written off, it will be highly unlikely unless there are extreme circumstances. (Legal advice and opinion would be required)

I am going to be repossessed, can you help?

Yes, contact us as soon as possible so we can assist you in trying to stop the repossession and/or achieve compensation. (Note mortgage arrears are generally a separate issue to mortgage mis-selling)

My house has been repossessed, can you still help?

Yes, we will investigate if your mortgage was mis-sold and try to obtain compensation or redress for your losses.

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