The Murky Side Of Sub-Prime

Jan 22 at 12:12pm by admin

A recent investigation into mortgage advisors has revealed widespread mis-selling.

The results from a BBC investigation show that some mortgage advisors have encouraged borrowers to exaggerate their income to secure mortgage deals which they have little hope in meeting repayments.

This kind of mis-selling is rife within the self-cert and sub-prime market.

The problem wlth self-cert is that a client can be encouraged to go down this route and declare any income which they like. As a result, low income borrowers have been able to secure mortgages which are doomed from the start.

For a mortgage advisor, it is easier to get the deal passed so this is what they use it for. The system has been abused.

Personal Finance Claims have helped clients, receive totally unexpected financial compensation as a result of invalid, unenforceable or fundamentally flawed consumer credit agreements. These include mortgage, secured loan and motor finance contracts.

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