Letter to complain about a mis-sold mortgage

There are many reasons why you may think you've been mis-sold your mortgage. If you think you were mis-sold, use this Which? template letter to complain.
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[Your name and address]

RE: Complaint concerning sale of mortgage

Mortgage reference number [enter number]

Dear Sir/Madam,

I am writing to you to make a complaint about the way I was sold my mortgage.

I believe, for the reasons set out below, that I was mis-sold this mortgage and am requesting you to investigate the sale. 

I am also requesting that you send me a copy of my mortgage file so that I can see all the documentation you have relating to my case.

An adviser in your company sold me a mortgage in [enter month and year].

The reasons I am complaining are as follows:

[Delete from the list below those that don't apply to you. One or more of these may apply]

• The mortgage was not suitable for me.

• The adviser did not properly establish my attitude to risk.

• No fact finding was completed during the sales process and therefore the adviser did not have full knowledge of my/our financial situation.

• Other options for repaying the mortgage, such as a repayment mortgage, were not discussed with me.

• Your adviser did not discuss with me that I would only be paying interest on my mortgage each month or how I would repay my mortgage when it finished.

• Your adviser did not give me examples of the cost of a capital and repayment mortgage compared to the lower costs of an interest only mortgage. It was also not explained to me that I may have to switch my mortgage to a repayment mortgage rather than relying on rising house prices

• When remortgaging to consolidate my debts, I was not advised that it would be cheaper for me to put all of my loans, credit cards and finance onto my existing mortgage rather than remortgaging.

• I was not advised that by remortgaging I was exchanging my short term debts for a long term debt by adding it to my mortgage. It was not explained to me that although I would be lowering my monthly outgoings initially, that I may be lengthening the term of my debt and vastly increasing the amount of interest that I would be paying.

• Your adviser did not conduct an affordability assessment and therefore I may have unknowingly over committed myself to a mortgage I cannot afford.

• When applying for my mortgage I was not asked to prove my income (known as self certification). Your adviser encouraged me to take out a ‘Self Cert’ or ‘Fast Track’ mortgage where I did not need to prove my income.

• Your adviser did not discuss with me how I would meet my mortgage payments once I had retired.

• I was sold a sub-prime mortgage when there was nothing wrong with my credit history and I had never been refused credit before.

[Please add here if there is anything else you wish to include to support your complaint]

Please reply to this letter within 14 days and investigate my complaint within the eight weeks allowed to you.

Yours sincerely,

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