Mortgage litigation solicitors

Michael Lewin Solicitors are specialists in mortgage litigation and have assisted clients in all kinds of mortgage litigation matters.

With complicated interest rate calculations, we put a lot of trust in our banks and mortgage lenders to charge us the fair and agreed amount for the mortgage that we have. However, in recent years it has come to light that banks and building societies across the board have been guilty of mortgage miss-selling and breach of trust. We have been successfully claiming compensation for clients who have been badly deceived by their mortgage providers.

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QUICK FACTS

  • No win no fee available
  • Dedicated team of specialist mortgage solicitors
  • Market leading software used to calculate exact overpayments
  • Personal service and excellent reviews

What is Mortgage Litigation?

Mortgage Litigation is the collective term given to a wide variety of civil claims against a Lender or a mortgage broker. This can include claims for:

  1. Breach of Contract in the form of
  • Overcharging interest not in accordance with the mortgage agreement
  • Unlawfully adding charges to the mortgage outside the terms of the agreement
  • Charging excessive administration or arrears fees
  1. Mortgage Mis-selling arising out of the negligent advice from a broker or a lender, examples include:
  • Mortgage brokers advising clients to take an unsuitable product because they get a larger commission payment compared to another more suitable product that was available.
  • Mortgage brokers falsifying documentation and/ or withholding information to secure a higher mortgage
  • Irresponsible lending on the part of the lender
  • The lender failing to make adequate checks before offering a product
  • The broker and/or lender advising borrowers to take out interest only mortgages without a suitable repayment vehicle;
  • Customers being advised to consolidate debt within a mortgage product.
  1. Defending repossession proceedings

Can’t afford your mortgage? It may have been miss-sold.

Mortgage mis-selling is when you have been given advice that is entirely unsuitable for your situation. Either the risks were not explained, insufficient information regarding your mortgage was given or you ended up with a mortgage product that was not right for you. Unfortunately, mortgage mis-selling happened frequently before regulations were tightened and now many people find themselves in devastating circumstances or are left in arrears.

Many people do not realise that they have been mis-sold a mortgage product and the term mortgage mis-selling can cover a wide range of scenario’s. As each case will be based on their individual facts, it is important that you seek the right legal advice if you think you have been mis-sold a mortgage product.

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Director Michael Lewin Solicitors

Some examples of the way a mortgage can be mis-sold include:

  • You were advised to take a mortgage product that was not suitable for your needs
  • You were negligently advised by a broker to take one product over another on the basis that the broker would receive a larger commission payment from the lender
  • You were advised to take an interest only mortgage
  • You were advised to consolidate debts by re-mortgaging
  • Your retirement date is before your mortgage end date
  • You were advised to overstate your income in order to borrow more and/ or the broker falsified information on the mortgage application to obtain a higher mortgage offer
  • You were not told about the commission your mortgage advisor would receive from the mortgage lender
  • You were advised to switch mortgage lenders without being told about any fees and penalties that you incurred

Compensation for Mortgage Mis-selling

You could be entitled to compensation if you were miss-sold a mortgage that was not suitable for you or your income at the time. We have successfully recovered compensation for our clients who have been miss-sold mortgages.

Breach Of Mortgages

When a mortgage offer is made to a potential borrower this offer will specify the interest rate that applies to that mortgage. The borrower will accept this offer expecting to be charged interest at the rate specified in the mortgage offer. Given the complexities of calculating interest the borrower puts their trust in the lender that the payments will be calculated correctly and in accordance with the agreement.

Unfortunately, it has come to light that a large number of lenders have incorrectly calculated the interest and other charges due on the mortgage and consequently have charged the borrower more than they are contractually entitled to charge. This has resulted in some borrowers paying thousands of pounds in overpayments towards their mortgage which they are entitled to have refunded.

Quick checklist to see if you could have a claim:

  1. Do you have a mortgage of £75,000 or more that is ongoing, or that was redeemed not more than 2 years ago?
  2. Have you fallen into arrears with your mortgage?
  3. Have you been charged excessive administration fees or arrears fees?
  4. Did the lender pay a broker fee that was added to the mortgage?
  5. Have you been on an interest only mortgage?

If so, then you could have a potential claim against the lender for Breach of Contract and could be entitled to thousands of pounds in compensation.

Compensation for Breach Of Mortgages

You could be entitled to substantial compensation, which is based on the overcharges applied to your mortgage. Claim values typically exceed £10,000-£15,000. Find out if you have a claim today.

Defending Mortgage Repossession

If you find yourself in the unfortunate position where a lender has commenced repossession proceedings against you then urgent action will need to be taken to avoid the lender being able to obtain possession of the property.

Mortgage Lenders are governed by various regulatory provisions including the Mortgage and Home Finance: Code of Business rules which dictate stringent requirements for the lender to comply with before possession proceedings can be commenced. Lenders also have to comply with rules under the Pre Action Protocol.

For a fixed fee, Michael Lewin Solicitors can defend or stay current possession proceedings whilst allowing you the opportunity to investigate possible counterclaims for breach of contract, mortgage miss-selling or to arrange alternative finance.

Through a series of connections we are also able to source mortgage brokers who specialise in arranging mortgages for individuals with adverse credit thereby protecting you from repossession.

It is important that Michael Lewin Solicitors are instructed at an early stage as it can be more difficult to adjourn a repossession hearing the closer the hearing gets. Despite this Michael Lewin Solicitors have successfully persuaded lenders to adjourn hearings having only been instructed days prior to a repossession hearing.

Contact us for a free initial consultation regarding your options if you are facing repossession proceeding. Email us on enquries@michaellewin.co.uk, or alternatively, call us on 0113 200 9787.

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