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Joshua, Lawyer
Category: Property Law
Satisfied Customers: 28987
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
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L was advised by my mortgage company to get In touch ,l was

Customer Question

Hi my name is ***** ***** l was advised by my mortgage company to get In touch ,l was sold a mortgage that was miss sold to me which was a interest only mortgage now they was all there money, but l never knew what sort of mortgage l had l tried a company that
JA: What steps have they taken so far? Have they prepared or filed any paperwork?
Customer: They have give me time to pay but l am 67 years old and retired , l am still paying the mortgage company while l try to sort something out l have spoke to my mortgage company and they advised to get in touch with you but in the end l still have to pay or get reposessed
JA: Where is the property located?
Customer: Malta avenue Chatham Kent me50ju
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: Only l have got till July to sort it out
Submitted: 14 days ago.
Category: Property Law
Expert:  Joshua replied 14 days ago.

Hello and thank you for your question. My name is ***** ***** I will be very pleased to assist you. I'm a practising lawyer in England with over 15 years’ experience. Please be aware that although I will endeavour to reply to you promptly, I am also in full time private practice and so I may not be available to respond immediately and it may also take me a few minutes to prepare a reply. The site will notify you as soon as I respond. I look forward to working with you to answer your question fully.

I am very sorry to read of the above and I imagine what a difficult position it must be. I will certainly try to clarify your options.

  1. May I confirm approximately when you took the mortgage out please?
  2. Do you recall who advised you in relation to the mortgage?
  3. do you recall when you took the mortgage out, did you have other options to consider other than an interest only mortgage based on your income at the time? e.g do you recall if a repayment mortgage was feasible
  4. do you recall if you were advised in relation to term assurance or some other form of vehicle for paying off your mortgage?
Expert:  Joshua replied 13 days ago.

I'm following up on the above. Without some further information from you as above, I am limited in what I can say on the matter but in the hope it is helpful nonetheless, I will provide you with the following broad answer. If you are able to kindly provide me with the above further information or if you have any further questions generally, I will be delighted to expand on the following - please just reply back to me in this case:

Notwithstanding the above, in general terms it may be that a mortgage was mis-sold to you however, it is important to establish the basis of mis-selling in order to make a claim. For example, and I do not suggest this applies here, it is not sufficient to make a claim of mis-selling simply on the basis that one no longer likes a particular product or likes a position one finds oneself in. Rather, you need to be able to show that advice that was received was clearly wrong in the circumstances of the time. In relation to an interest only mortgage for example, this could be because your financial circumstances at the time gave you other options which were not offered to you which you could have availed yourself of if you have been made aware of them or you are not advised in relation to ensuring that you made some provision for paying off the interest only mortgage at the end of its term and this was an option for you. These can be examples of mis-selling.

I hope the above is of some assistance but if you have any further questions, please revert to me