Mis-Sold Interest Only Mortgage Loan

[crackernut2]

A specialist company recently contacted us to tell us they could help us to get compensation for a mis-sold Interest only loan. We signed and sent off the information that was needed, Mortgage provider etc, (no bank details) and waited for further instruction. After about 2 weeks they replied to say they had contacted our Mortgage providers asking for details of our account, but had been denied access and that we had to take a passport or driver's licence to a Post Office or bank where they would be signed and photo-copied as verification of our consent. Is this normal practice or should we ignore the whole thing.

[woofgang]

Contact your mortgage provider and ask.....

[ubasses]

I would be very wary, the last thing you want to do is give someone copies of documents that would allow them to abuse your identity. As Woofgang advises, the best thing , is to approach your lender. If they did their job properly, they would have advised you that you would need to put something in place to ensure you had funds at the end of the mortgage term to pay off the loan.

[Tuvok]

Deal with your provide directly. Any company acting for you will take a cut of any payment you get.

[HansUrbancka]

If there is any reason for you to think that you were mis-sold an Interest only Mortgage, then free of charge you can obtain help from the Financial Service Ombubsman. A private Company acting on your behalf will be looking to take possibly a 25% fee from any Compensation involved. It's something of a Con similar to firms helping people to get Compensation for mis-sold PPI.

The following is worth Reading:-

https://www.which.co.uk/consumer-rights/advice/i-think-ive-been-mis-sold-my-mortgage-what-can-i-do

Hans.

[chrissa1]

I wouldn’t touch anything that came out of the blue from a third party, with a barge pole.

As has been said, contact either the FOS or your provider yourself.