Mis-sold Financial Products Mis-Sold Equity Release
Speak to our expert legal team if you believe you or one of your loved ones was mis-sold an equity release product, and you believe that the sale of an equity release product has resulted in you suffering a financial loss. We can help you...
Start Your Financial Product Claim
Would you rather discuss your claim over the phone?
No problem… Give us a call now.0300 303 3819
We can help you recover your money
If you have either been a victim of a scam or exposed to these situations then please contact us to start your claim. We may be able to recover any money lost and deal with your original mis-sold equity release issue.
No Win No Fee
No Cold Calling
Have You Been Mis-Sold Equity Release?
In the UK people over the age of 55 are eligible for two equity release products called Lifetime Mortgages or Home Reversion Plans. Unlike traditional mortgages these products allow the homeowner to draw down a lump sum based upon the equity in their home, which then accumulates interest over the lifetime of the loan.
In many cases no repayments are made against the loan, and instead the interest is allowed to compound thereby eroding any remaining equity within the property. Typically, these loans are often redeemed when the last of the homeowners passes away, or when one or both of the homeowners needs to move into a care home. In some cases an early repayment charge may be triggered. As the interest rolls up over time, often the equity left in the property quickly diminishes rapidly for any family and loved ones who are named as beneficiaries in a will, especially when house price inflation is low.
Speak to our expert legal team if you believe you or one of your loved ones was mis-sold an equity release product.
Was an Equity Release Plan suitable for you or your loved ones?
In many instances it may be more advantageous to move or downsize as opposed to take out an equity release plan, in particular if you could have moved to be closer to family members in your later years. Ask yourself a few questions;
- Were you vulnerable at the point that the loan was recommended by the IFA?
- Were you ever asked to speak to your family, or take legal advice, about the loan that was being provided by the equity release provider?
- Did you ever, or were you ever advised to explore more cost-effective means of borrowing the money that you needed?
In some instances the monies drawn down via an equity release plan may impact your ability to claim benefits, or if you draw down a large sum of money, your ability to draw down any further monies should the need arise.
Were you vulnerable at the point that the loan was recommended by the IFA?
Were you ever advised to explore more cost-effective means of borrowing the money that you needed?
There may have been other ways in which homeowners could have borrowed money, and from time to time we even see instances where the IFA has recommended an equity release mortgage, in order to enable a homeowner to invest in a product where the return on the investment is claimed to be greater than the interest being charged on the loan. What the IFA hadn’t explained to the client was that the investment in question was high risk or illiquid, and that there was little chance of realising the investment to redeem the equity release mortgage.
Why can I claim?
All IFAs recommending a Lifetime Mortgage or a Home Reversion plan should be regulated by the FCA. There are many rules and regulations that apply to these products in particular MCOB 8, which relates to “Equity Release: advising and selling standard”.
Our experts have a wealth of knowledge in respect of the MCOB guidelines which relate to the sale of these products, and after we have investigated and established how such a product may have been mis-sold to you or a loved one, we will submit a detailed written complaint along with the evidence that we have that substantiates your case. In some instances, we can refer to some of the precedents that have been set in the High Courts in order to further support your claim.
How can I claim?
We can assist you, if you believe you or one of your loved ones was mis-sold an equity release product, and you believe that the sale of an equity release product has resulted in you suffering a financial loss. Quite often many people discover that it’s not until a loved one has passed away that their loved ones had been sold equity release.
We can pursue a claim for compensation on your behalf for not just the original sum borrowed, but the interest that has been charged, along with any penalty charges and any other losses suffered as a consequence of taking such a loan. In the event that the IFA or broker is no longer trading then we will direct the claim to the Financial Services Compensation Scheme.
Experts in Mis-Sold Equity Release Claims
We are experts in assisting consumers under a “no win no fee” agreement, and we are successful in the majority of claims we pursue. If you believe that you or a loved one was mis-sold an equity release loan then why not call us today to see how we can help you?
Deal with someone you can trust...
The Solicitors Regulation Authority (SRA) regulates Lincoln Green Solicitors therefore we have high ethical standards....
- Keep you safe.
- Keep your information confidential.
- Put your best interests first.
- Offer a "no win no fee" service in most instances.
We will not…
- Cold call you ever!
- Invite you to a presentation.
- Ask you to buy another product.
- Ask you to pay upfront fees.