PPI claims firms are setting their sights on interest-only mortgages, which are being lined up to be the next mis-selling scandal. According to the Observer, a multitude of claims companies are ready to launch TV advertising campaigns and make live websites aimed to raise awareness of the issue to individuals who have been potentially mis-sold their mortgage. With interest-only mortgages, the borrower does not pay off any capital on a property, they only meet the monthly interest payments. Once this mortgage expires, they are expected to have a repayment plan in place to pay it off. The concern is with individuals who do not have sufficient provisions to cover the capital, if they have any at all. Many are accusing banks and buildings societies for not making the correct checks before issuing the loans and there are hints that the mortgages could be banned outright. Property data firm Xit2 revealed that in the last ten years, more than 1.28 million interest-only only loans have been issued for home purchases where there has been no precise repayment plan.Charles BakerCharles is a reputed financial analyst with decades of experience under his belt.
Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk/search.aspx number 18273
Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.
Belmont Thornton Ltd is registered with the Information Commissioners Office. Registration number Z1728023 and holds a Credit Consumer License issued by the Office of Fair Trading license number 634655.
Please note that calls may be recorded and email traffic monitored for the purposes of security and staff training.
* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.
By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide