Hardwick Financial: “Lenders and Brokers Responsible for Mis-Sold Mortgages”
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The mortgage mis-selling sector is gathering pace across the UK to the point that some claims management companies
Lancashire UK, May 02, 2013 - The mortgage mis-selling sector is gathering pace across the UK to the point that some claims management companies are arguing amongst themselves over who is to blame.
Some CMCs are focusing their claims around broker negligence whilst others believe the key area of mis-selling lies with the lender themselves as underwriters of the mortgage.
However, one leading claims management company believes both the lender and the intermediary can be liable and are already processing hundreds of claims of each nature.
Scott Sheedy, managing director of Hardwick Financial Solutions, said: “Unfortunately we’re seeing some charlatan claims management companies who, after dipping their toes into the PPI market, are now hoping to get lucky by hedging their bets with mortgage mis-selling without having the required knowledge and understanding.
“Each case can be different; there are many areas of potential mis-selling from day one with a broker to final sign-off by the lender and there’s no doubt that both brokers and lenders will be held to account going forward.”
Mr Sheedy’s comments were backed up by CMC processing firm Commercial Remedies Group who have argued that claims management firms are failing to recognise the complexity of mortgage claims.
CRG operates as a processing centre for other CMCs in order to determine the legitimacy of the submitted complaints.
A CRG spokesperson said: “What you will get is a load of PPI companies who want to do this now without realising the depth you need to go since the grounds of the claim are far more complex.”
Last month it was revealed that thousands of borrowers on interest-only mortgage deals in the UK could kick start mortgage mis-selling compensation.
There has already been confirmed redress payments made for mis-sold interest-only mortgages but it is believed compensation paid so far is merely the tip of the iceberg with the number of claims expected to soar in the coming months.
ABOUT HARDWICK FINANCIAL
Hardwick Financial Solutions Ltd cater for clients with complex, historical cases and also help in claiming back money that is owed to them – which in many cases is news to the client themselves.
They act for clients who have been hampered by mortgage mis-selling and fight their corner so they receive what they are rightfully entitled to.
They have long been recognised as one of the leading Claims Management/Financial Solutions practices in the UK and are highly regarded for their depth of knowledge and breadth of experience.
Their dedicated mis-sold mortgages website can be seen at http://www.hardwickmissoldmortgages.co.uk
Rate this! 1-5 starsSome CMCs are focusing their claims around broker negligence whilst others believe the key area of mis-selling lies with the lender themselves as underwriters of the mortgage.
However, one leading claims management company believes both the lender and the intermediary can be liable and are already processing hundreds of claims of each nature.
Scott Sheedy, managing director of Hardwick Financial Solutions, said: “Unfortunately we’re seeing some charlatan claims management companies who, after dipping their toes into the PPI market, are now hoping to get lucky by hedging their bets with mortgage mis-selling without having the required knowledge and understanding.
“Each case can be different; there are many areas of potential mis-selling from day one with a broker to final sign-off by the lender and there’s no doubt that both brokers and lenders will be held to account going forward.”
Mr Sheedy’s comments were backed up by CMC processing firm Commercial Remedies Group who have argued that claims management firms are failing to recognise the complexity of mortgage claims.
CRG operates as a processing centre for other CMCs in order to determine the legitimacy of the submitted complaints.
A CRG spokesperson said: “What you will get is a load of PPI companies who want to do this now without realising the depth you need to go since the grounds of the claim are far more complex.”
Last month it was revealed that thousands of borrowers on interest-only mortgage deals in the UK could kick start mortgage mis-selling compensation.
There has already been confirmed redress payments made for mis-sold interest-only mortgages but it is believed compensation paid so far is merely the tip of the iceberg with the number of claims expected to soar in the coming months.
ABOUT HARDWICK FINANCIAL
Hardwick Financial Solutions Ltd cater for clients with complex, historical cases and also help in claiming back money that is owed to them – which in many cases is news to the client themselves.
They act for clients who have been hampered by mortgage mis-selling and fight their corner so they receive what they are rightfully entitled to.
They have long been recognised as one of the leading Claims Management/Financial Solutions practices in the UK and are highly regarded for their depth of knowledge and breadth of experience.
Their dedicated mis-sold mortgages website can be seen at http://www.hardwickmissoldmortgages.co.uk
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