Trying To Find Out if You Were Offered a Mis-sold Mortgage
There are few questions to answer for you to know if the broker or a lender offered a mis-sold mortgage to you, here are some of those questions:
- Are you on benefits or pension when a broker or a lender offered you the loan?
- Did the broker or lender tolerated or allowed you to make your own certification?
- Does the end date runs past your retirement age?
- Were you given a fixed rate mortgage and told to just remortgage to a better deal at the end of the term?
- Advised to switching lenders without being told about the risks like penalties?
- And does the broker encourage you to manipulate your income?
These questions are usually signs that where assessed by the authorities to the people who became a victim of a mis-sold mortgage inside the country. The Financial Service Authority and other institutions are still continuing investigations so that they could prevent this kind of scam that is really growing for the past few years. In fact, according to the statistics that were conducted by the Financial Service Authority or FSA, there are around 37,000 people who became a victim and slowly loosing their properties because of the debt they faced after each mis-sold mortgages offers. These numbers became a light for the Financial Service Authority or FSA to conduct strict rules and regulations for the brokers to follow, so as to prevent mis-selling mortgage to the people.