Top 6 Most Asked Mortgage Help Questions

When most people require mortgage help they immediately turn to Google.

We figured we would do our part and provide the answers to the 6 most search questions relating to mortgage complaints.

What is a mis sold mortgage?

There are a considerable number of breaches that constitute a mortgage that has been mis-sold. These include the following:

  • Inappropriate debt consolidation;
  • Unsuitable or extending term;
  • Right to buy mortgages not explained correctly;
  • Inappropriate self-certification mortgages
  • Affordability factors not considered
  • Interest only mortgages not explained correctly.

How far back can I claim PPI on a mortgage?

Many Payment Protection Insurance (PPI) policies were sold over 30 years ago.  Unfortunately however financial institutions are only legally obliged to store paper work for six years.  Not to panic however as you can reclaim PPI prior to six years if you have the paper work.

Although we don’t specialise in Payment Protection Claims we can still assist with this type of claim.

How to claim PPI from Alliance and Leicester mortgage?

You could choose to contact Alliance & Leicester yourself or use a claims management company. If you go direct to the bank and they fail to respond, you can report them to the Financial Ombudsman who will provide impartial mortgage help.

How to file a complaint against mortgage company?

Thankfully all financial institutions MUST follow strict banking protocol when they receive a complaint off a customer. In the first instance you must raise the complaint with the lender. If you fail to get a satisfactory response after a month you are then able to take the matter up with FOS (Financial Ombudsman Service). The FOS provide a free and impartial advice service. It is worth considering that the FOS do sometimes get overloaded with complaints against lenders and the time to respond will depend on this as well as the complexity of your complaint.

Who can claim mortgage interest on tax return?

Since the new rules came into force in 2017 the system for calculating tax on rental income has changed. Unfortunately landlords will see tax relief steadily fall over the next few years.

  • In 2017 to 2018 tax year, 75% of mortgage tax relief can be claimed.
  • In 2018 to 2019 tax year, 50% of mortgage tax relief can be claimed.
  • In 2019 to 2020 tax year, 25% of mortgage tax relief can be claimed.

How to file a complaint against a mortgage broker?

Complaints against Mortgage Brokers might encompass a lot of issues from outright financial fraud to simple misinterpretation. Similar to dealing with complaints against mortgage lenders, the Financial Ombudsman also deals with complaints against intermediaries/brokers. For more serious complaints it is well worthwhile getting in touch with one of our specialist legal advisors to ensure you get the most compensation possible. Usually all solicitors work on a no win no fee agreement and when they obtain a win, the lender or broker pay all your legal costs in addition.

If you have concerns about your broker or lender and require mortgage help, simply complete the quick enquiry form today. A specialist mortgage advisor will then be in touch to offer a free no obligation mortgage audit.

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