When, why and how do I make a mortgage mis-sale claim?

Owning your own home is often considered a British national dream. To achieve this, most people borrow money in the form of a mortgage and pay off the loan over the following years. Buying a home is often considered the largest purchase most people will ever make, so most people will use a mortgage broker or advisor to help them choose the best mortgage for their needs. This is because mortgages are products that come in many different forms, some with added benefits and some with hidden costs. Homeowners pay for the luxury of borrowing money through fees and interest charges.

But events can often take a sour turn. At some point, the homeowner may encounter surprise fees or miss a payment and end up in arrears. Sometimes, borrowers may even have to delay retirement so that they can complete their mortgage repayments. These situations can be caused by bad advice, where the mortgage broker or lender has recommended the wrong product to the borrower.

At Paget-Brown (UK), we have discovered that an astonishing number of mis-sale claimants didn’t realise there was a problem with their mortgage in the first place. This article aims to make clear when, why and how you can make a claim for mortgage mis-sale.

What does mortgage mis-sale mean?


If a mortgage was recommended to a customer but it did not meet the customer’s needs, this can constitute a mis-sale. Banks and mortgage brokers have a duty to their customers. However, there may be a financial incentive to the representative who recommends a particular product to his or her clients. On other occasions, mortgage mis-sale may simply be a result of negligence.

A mortgage mis-sale claim could be made if the customer has suffered financial problems as a result of a mortgage that was mis-sold.

When should I make a claim?

In 2004, a set of regulations called the Mortgage Conduct of Business (MCoB) were introduced by the UK. These set out the rules (“Rules”) for how business should be conducted between brokers, lenders and borrowers. If your mortgage began during or after 2004, then your bank and broker had to abide by these Rules. You could be due compensation if they didn’t comply with the Rules.

Other key factors to consider are:

  • Does your mortgage end after your retirement date?
  • Were you asked to prove that you could afford the mortgage?
  • Did your broker withhold important information from the bank?
  • Were you offered extra money on top of your mortgage loan to make investments or home improvements?
  • Have you been charged any fees you weren’t told about?
  • Is your mortgage interest-only, and you don’t know how to repay the full balance at the end of the term?

If the answer to any of the above is yes, you should consider making a claim.

Why should I make a claim?


The most obvious reason is that if you have been damaged financially by your mis-sold mortgage, you should seek to restore your financial situation by claiming compensation.

Professionals have a duty of care to their clients and are in a privileged position of knowledge and experience. Mortgages are complex and many consumers are not equipped with the knowledge and experience to approach mortgages with confidence. Consumers need to feel confident in their lender or advisor’s advice.

I want to make a claim, where do I begin?


At Paget-Brown (UK), we have spent a lot of time creating and perfecting a simple process for anyone to seek compensation for their mis-sold mortgage.

We will:

  • Gather evidence from your mortgage lender and determine if you have a claim.
  • Calculate how much compensation you could be due.
  • Begin proceedings to help reclaim the money you are due.

Our work can be on a “no-win-no-fee” basis, meaning that you won’t pay us anything if we lose your case.

All we need to begin is the name of your mortgage lender and your email address. We will send you some documents to sign, allowing us to request data from your lender and setting out the terms of our relationship. Once we have these we will get to work and determine if your mortgage was mis-sold, on whatever fee basis you specify – be it “no-win-no-fee” or otherwise.



Nothing on this site constitutes legal advice or gives rise to a solicitor/client relationship. Specialist legal advice should be taken in relation to specific circumstances.

The contents of this site are for general information purposes only. Whilst we endeavour to ensure that the information on this site is correct, no warranty, express or implied, is given as to its accuracy and we do not accept any liability for error or omission.

We shall not be liable for any damage (including, without limitation, damage for loss of business or loss of profits) arising in contract, tort or otherwise from the use of, or inability to use, this site or any material contained in it, or from any action or decision taken as a result of using this site or any such material.

Start your Mortgage Mis-sale claim today

Why wait? To find out whether your mortgage was mis-sold to you, click the button below..

Written by Oli Lane for Paget Brown (UK)

© July 2019

Not to be copied or reproduced without permission.

Follow Paget Brown (UK) on Twitter:


Read more about mortgages on our News page.