What Should I Expect from Mis-Sold Mortgages Compensation?

When it comes to making a claim due to being mis-sold a mortgage, you expect the situation to be eventually resolved with you receiving compensation for any inconvenience caused. You have initially entered a payment scheme to finance your home and it turns out that the actual finances have been incorrect if mis-selling is the reason behind your claim. Mis-sold mortgages compensation can be difficult for the average person to determine, which is why it is always recommended that you investigate the details surrounding mis-sold mortgages compensation with experts whilst also building a base knowledge of what could be incurred from making a claim.

How Is Your Compensation Calculated?

Through regulations that are set by the Financial Conduct Authority (FCA), a company will usually need to calculate how much compensation you are due by determining how much you have been affected over the course of the mortgage so far. From looking into this kind of information, the company can ultimately discover how much you are owed. If you wish to ensure that the compensation you are being offered has not been mis-calculated, you are within your rights to contact companies such as The Mis-Sold Mortgage Experts to double check that the amount offered is adequate for the inconvenience caused to you.

What Should the Compensation Cover?

Your compensation should realistically put you as close as possible to the position you were in before the mortgage was finalised and you began paying it. Depending on how long the mis-sold mortgage has been in effect, you may also be liable for compounded interest on top. In the case of where your mortgage was mis-calculated, again it is good to contact the likes of The Mis-Sold Mortgage Experts to determine how much your mortgage should have been originally to then properly examine what the compensation should cover.

Where Can Compensation Become Difficult?

Determining the proper compensation amount can become troublesome under a couple different circumstances. If you have, for instance, decided to pay off your mortgage much earlier than anticipated before realising the company’s error, this causes problems. If you switched from say an interest only mortgage to a repayment mortgage to better suit your lifestyle and payments, this too can put a bump in the road. With situations such as these, your compensation can become more difficult to clarify.

Who Should You Get in Touch With?

As previously mentioned, there are companies that you can contact in order to gain assistance in mis-sold mortgages compensation, for instance, The Mis-Sold Mortgage Experts. The Mis-Sold Mortgage Experts is built up of specialist mortgage solicitors who see it as their duty to fully support you in your mission to tackle a case of mis-selling a mortgage. This forward-thinking team use their adept know-how to help you from start to finish and help in determining what should be rightly yours.

Contact for Assistance with Mis-Sold Mortgages Compensation!

Want to get the best assistance in making sure you get the compensation that you deserve? The moment you feel you have been mis-sold your mortgage, get in touch with The Mis-Sold Mortgage Experts for expert advice from a leading team of professionals! Call 0800 756 3986 or email info@missoldmortgageexpert.co.uk to get in touch!