1. I regret to say that you don't have a cause of action against the mortgage brokers, even if they were in business or you could get the benefit of any insurance cover they might have. This is because you voluntarily signed up to the subprime lender's terms. Additionally, any representation the mortgage brokers might have made to you about getting you to return to a mainstream lender after one year was not a binding promise. In order for a promise to be binding you have essentially have something of value flowing between the parties. Here there was merely a bare representation and nothing more which would give rise to legal liability. A representation is not automatically binding. Neither are all bare promises enforceable contracts. Here you have nothing you can sue upon, as it was only a representation as to future conduct. A mere puff. Not legally binding.