If my mortgage was mis-sold, can it be deemed void and be cancelled?
Posted on 22 September 2013 by Lee
Hi. If my mortgage was mis-sold can it be deemed void and cancelled. I'm currently in court process where the broker,surveyor and solicitor broke 5 financial laws between them. The broker was fined for illegal practices and is no longer trading. Thanks for any info, Lee
Thank you for your enquiry. Unfortunately, a mortgage cannot be deemed void or cancelled even if it is mis-sold.
However, it seems that the problem is more serious than just a mis-sold mortgage as you state that you are going through the Courts at the moment, and that laws have been broken, and therefore you may waish to wait for their decision before taking any further action.
If you have suffered any damages you may be eligible to claim compensation from the Financial Services Compensation Scheme. With regards to any financial loss following the advice from your broker, typically they will look at the mortgage you should have been sold, and then put you in the same financial position you would have been in, had you taken the right mortgage originally.
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