A homeowner in Stockport was awarded £25,000 as a result of his mortgage being mis-sold. Stephen Harper, 49, was left “stunned” when he discovered that because of dodgy advice he was entitled to a pay-out.
“I took out my mortgage fifteen years ago and when I was told to switch mortgage lenders just five years in, I went for it,” Stephen told us.
Stephen had been cold called by a mortgage broker who promised him a great deal on his mortgage, at a lower interest rate than the fixed rate he was currently paying.
“I had been saving for quite a while to get my deposit together and even with all that the mortgage payments were a bit too high,
“So, when the caller promised me a better deal with a bank I had heard of, I thought it was a good idea,” Stephen said.
What the broker didn’t tell Stephen, however, was that switching lenders would land him with a huge penalty from his current bank. When he asked about potential fees, the broker brushed off his concerns and said they wouldn’t be anything large. He had lied.
What followed was a very dark period for Stephen which saw him fall into arrears and almost lose his house. When a friend reached out with a tip, he realised that there could be a way out.
“I never knew about it until he told me, but it turned out my mate had some issues with his mortgage a couple years back.
“I thought I just had to take the loss and roll with it, but he told me there was a way I could get some money back,” he said.
Stephen’s friend got him in touch with Trusted Mortgage Claims, a Manchester-based mortgage claims company, who helped him understand that the broker had misled him when he switched lenders. Stephen put a claim forward and within weeks he was awarded £25,000.
Even though the mortgage broker was no longer in business, Trusted Mortgage Claims were still able to pursue the claim and get Stephen justice.
“I was stunned, absolutely stunned,” Stephen said, “it really gives you hope that there are good people out there and that what’s done in the dark will always come to the light”.
Fred Carson, an adviser at Trusted Mortgage Claims, told us that anyone who has taken out a mortgage before 2013 should look very carefully at their policy.
“There are so many ways that you could have been mis-sold a mortgage, and too many lenders have been getting away with fraudulent practices for too long.
“Even if you’ve never switched lenders, you could be owed thousands if you’ve not been told enough information or simply ever struggled to pay,” Fred said.
Fred told us that all homeowners need is a few basic pieces of information about their mortgage and they can start their no-win-no-fee claim.
“Don’t suffer in silence, talk to Trusted Mortgage Claims today to get what you’re owed,” he said.