If it can be established that your mortgage was mis-sold then you may be able to claim for losses from the start of the mortgage through to its full term. Mortgage regulation states that lenders and brokers must ensure mortgages are affordable throughout the entire mortgage term.
Your broker should have explained Interest Only vs Capital Repayment and explained that you may have to switch to Repayment at some point. This type of mortgage seems cheaper in the short-term but in the long-term it is significantly more expensive.
Negligent advice from a broker or a lender may have resulted in your mortgage being mis-sold.
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 scenarios, as each case will be fully assessed based on their individual circumstances.
Your mortgage may have been mis-sold if: