A Mis Sold Mortgage is something that you should be aware of if you are someone that is making payments on a home every month. Many people begin the process of finding a property with a lot of excitement. When they come across a property they like the look of, they would have a desire to move quickly in order to get into the property without a delay. As a result, it is very easy for brokers and lenders to take advantage of your situation and get you to take a mortgage that is going to cost you thousands more than you would otherwise pay.
If you are not aware of the mortgage process and the steps that normally happen, this would likely make you an easy target for a broker that is only interested in the highest commission possible. However, it is important for you to think about the possibility that your broker placed the mortgage with a lender that would give them a return on this process. When you are put in a position of paying more for your property while someone else gets compensation in return, this would mean that you are dealing with a Mis Sold Mortgage.
Additionally, it is important that you have all of the vital financial information made available to you in order to find the lender that is going to save you the most money. Many times, this fact sheet is simply not provided, the person would then be unable to make an informed decision about what would be in their best interest. If you were not given this fact sheet with a breakdown of the financial information for the mortgage, this is a very good indication of the fact that something went wrong when you were part of the process that is involved with getting a mortgage. If you have been a part of this process before, you know that there are steps in place that must be followed. If any of these steps were skipped, you may be dealing with an issue of of a possible Mis Sold Mortgage that you want to be aware of.
If you have been contacted by any company to change your mortgage, this may show you that you are dealing with problems of mortgage mis selling that may be costing you a lot of money. It is within your right to have security in your mortgage, you should not be contacted out of the blue by companies that are looking to sell you on a different mortgage. It is important that you give any company contacting you the permission to do so.
If you do not do this, they have no right to do so. Additionally, a lender should not be suggested to you during this process. If a mortgage broker pushed a lender on you and told you that you would be able to get into the property soon, this is probably a very strong sign that you may be having a problem that requires your action. If you have been through all of these things or just one of them, you may want to have someone look at your mortgage and determine where you stand. If you continue going without the security of knowing that you are paying for a mortgage that is within your best interest, you may be throwing away your money on something that is only going to decrease the value of your investment.
It can be very difficult to go through the process of buying a home when you do not know what you are doing. When this is the case, it is very easy to push your trust in a broker that would be very helpful when you are interested in finding the ideal lender for your property. However, you would find that there are many brokers that are only in the process for the purpose of making money. If you have been a victim of this problem, it is important that you file a claim in order to get the money back that belongs to you. Do not make the mistake of paying for a mortgage that is only making your life harder, file a claim today.