Did you take out an interest-only mortgage on the advice of your lender or financial advisor, only to find later down the line that this wasn’t the most suitable option for you? Many consumers who take out interest-only mortgages find that they are unable to repay it at the end of the term, despite being advised that this was the best product for them at the time of purchase.
Are you eligible to seek compensation?
You could be eligible for compensation on your interest-only mortgage if it was mis-sold. Do any of the following apply to you?
- Misleading Advice
Were you advised by your lender or financial advisor that this was the best option for you despite it being unsuitable?
- Unaware of All Facts
Can you prove that you weren’t given clear information about all aspects of the agreement?
- Lender Being Unhelpful
When you reported your concerns about the mortgage, was your lender unhelpful or obstructive to try and avoid the issue?
If any or all of the above apply to you then we could help you to receive compensation and reach a constructive agreement with your lender on the best way to move forward. Fill out our enquiry form or give us a call to tell us about your situation and receive expert legal advice and support.