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Claims firm targets broker mortgage misselling

Claims chaser Brunel Franklin is launching a new service which aims to get refunds for customers who believe they were mis-sold mortgages by mortgage brokers.

The firm says it has launched the service in response to customer demand.

Managing director Sally Bowyer says: “The FSA is clamping down on a number of mortgage brokers accused of mis-selling mortgages. In 2008 the FSA delivered a key message that it was concerned about some mortgage brokers selling contracts to potential home owners and either concealing details about the mortgage or encouraging them to inflate their income for the purpose of gaining a larger mortgage.

“This, together with recommendations to take interest only mortgages with no means to repay, are just some of the examples of mortgage mis-selling.”

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Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. William Kingsley 9th March 2011 at 9:27 am

    More vultures circling eh? We have had only 2 complaints in our business in 2 yrs and both were wrongly sent to us by a company trying to claim on PPI sales and both were over 10yrs ago. We didn’t sell them, they were done direct by the clients! They just waste people’s time and money and will most probably drain money from the FSCS. Whilst I have no desire to see people take mortgages out that are not appropriate, neither do I want to see an increase in the compensation culture that has grown in the last few years. Firms like this should be regulated just as much as brokers are.

  2. With such a loose definition, the public may feel like complaining they took a fixed rate three months before the crash, and that they lost out because a tracker would have been so much cheaper, this only underlines the importance of thorough fact finding and recording why the client needed a particular product, ie new baby, could not afford a rise in rates, it will no doubt shake out more cases of fraud, but in a tight economic environment, some customers no doubt will try it on to get some money, will be interesting to see how they track down the dodgy brokers, many have left the industry.

  3. surely you should be advertising the following http://www.mortgagecompensationscheme.org.uk http://www.fscs.org.uk http://www.financial-ombudsman.org.uk ALL OF WHICH ALLOW YOU TO KEEP 100% of any compensation.

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