As a person we are often faced with challenges in our life. We need to provide for our family and for ourselves. There comes a time in our lives that we make very tough decisions and one of this is when taking a loan or mortgages. There are many banks and credit companies out there making a loan or a mortgage is not that hard but the decision of who take a loan from is the difficult part.
We need to choose prudently to prevent being mis sold mortgages and/or mis sold PPI. In the past years we have been experiencing a heightened protection from mis sold mortgages and mis sold PPI but this doesn’t mean that we have to be complaisant. Knowing in the first place and being alert when making a loan or a mortgage could save you your financial stability and your home. What are the tells of a mis sold mortgage?
è The broker advises you to exaggerate your monthly income
è The broker doesn’t check if you could really afford the mortgage.
è The broker takes you past your retirement age.
è You were not told what would happen to the monthly repayments if the interest rates would change.
è You were not provided with all the details about the mortgage.
You should look out for all these tells and prevent yourself from being a victim of mis sold mortgages and prevent losing your home.
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