Mortgage FAQ 2019-06-14T15:36:34+01:00

Mortgage FAQ

A mortgage prisoner is someone who has a mortgage where they are stuck in paying the lenders Standard Variable Rate (SVR) rather than a lower mortgage rate, such as a fixed rate or a tracker rate, and can’t switch tier mortgage to a lower rate.
It is estimated that there are over 1 million people in the UK that are affected by this issue.

Basically, any UK bank or building society that provides fixed rate or tracker rate mortgages could be affected. Also certain ‘sub-prime’ lenders may also be affected.

Barclays Bank
Lloyds Bank
National Westminster Bank
Halifax Bank
Bank of Scotland
Royal Bank of Scotland
Co-operative Bank

Building Societies
Skipton Building Society
Nationwide Building Society

Sub-prime lenders

Amber Home Loans

We provide a genuine No Win No Fee service*, so you don’t pay us a penny unless we win you money.

Where we do win you money, we will charge 25% +VAT of the amount that you receive from your mortgage provider.

As with anything in life, you can choose to claim yourself or seek further advice before starting your claim.

We are one of the UKs leading claims management firms that specialise in assisting businesses and individuals to claim for mis-sold financial products and other banking of financial disputes.

Established in 2012, we have won over £20 million in compensation for our clients.

We are regulated by the Claims Management Regulator (CRM Number: 31952).

We pride ourselves with an excellent level of client service, please visit our many reviews on TRUSTPILOT.

Yes, We are able to assist with mortgage claims for both businesses and individuals. We have a wealth of experience of assisting businesses with claims against banks and other financial services providers and have acted for business in a variety of sectors such as: property, farming, care homes, GP surgeries and hotels – to name but a few.
With these type of mortgage claims, we would expect it take to between 3 to 12 months, depending on whether the claim has to be referred to the Financial Ombudsman Service.
If you are a business, it very much depends on whether you meet the definition of a ‘micro-enterprise’ as only these types of business are eligible to have their claim referred to the Financial Ombudsman Service. So if you currently have a turnover of less than €2million (about £1.7million) and less than 10 full-time employees, then you should qualify as a micro-enterprise.

If you are an individual, then you will automatically meet the criteria.

Please be aware that if you have already complained to your mortgage provider about the issue, then you will have 6 months from the date of the Final Response Letter to take your claim to the Financial Ombudsman Service. If you wait longer than 6 months after receiving the Final Response, then you may lose your right to take your case to the Financial Ombudsman.

Yes, in addition to claiming compensation, we can potentially help you with switching you mortgage to a better rate, either with your current mortgage provider or with another mortgage provider. Please note that we do not provide either financial advice or mortgage advice.
Great, we are here to help! We can assist with all aspects of the claim.

In order to start things off, we can send you a mortgage claims pack in the post which details the next steps of the claims process. Please call us on 0800 0830 286 or email to get your claims pack posted to you.

Corona Virus Update

Please note: We are still open for business,
cases are continuing to be progressed but that
things are taking longer than normal.

Thank you for your patience.

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