Are you a victim of a mortgage scam?

If you notice that mortgage repayments are becoming more and more difficult to deal with, you may have been a victim of a mortgage lending scam.

08:38 06 October 2013

Mortgage scams are very often tricky to pick up on, and you may be a victim without even noticing it. It is even harder to file a complaint against the lender that sold you the mortgage, so you may want to hire someone else do to that for you. But in the first place, you should find out if there is any possibility that you were actually mis-sold a mortgage, and here is how you can do that:

• Is your retirement earlier than the day when your mortgage repayment finishes? If this is the case, then you have definitely been mis-sold or mis-informed by the lender;

 

• if your mortgage rates were fixed and they have increased in time without the lender informing you about it, then you have a serious case of mis-selling against them;

 

• if you were sold a self-certification mortgage although you were employed, this means that you pay a higher interest rate and your mortgage lender scammed you;

 

• if your mortgage loan was used to repay another loan that you had, and you now end up paying more interest on the new deal, then you have again strong reasons to suspect that you were scammed by the broker or lender;

 

• no lender should advise you to falsify any information when applying for a mortgage – this may seem obvious to you, but they have many ways to tempt you into doing that;

There are many other ways that scammers can trick you into buying a mortgage that doesn't actually fit your needs. If you think you have been a victim, go ahead and file a complaint. The process of filing a complaint might be difficult, but you can receive professional help to do it.