Tenants who rented their council house were offered the opportunity to purchase their house at a discount dependent on the length of tenancy.  It was a scheme introduced under Margret Thatchers reign as prime minister. The Right to Buy scheme enabled tenants having lived at the property for more than 2 years the option to buy their property at a much discounted price. The level of discount depends on how long the tenant has lived at the property but generally the discount would be between 32% increasing 1% every year until the 60% maximum has been reached.

Due to the fact that many prospective purchasers were entering into the world of home ownership and mortgages for the first time the opportunity to mis sell to them was vast.

Right to Buy Mortgage Mis-selling became more commonplace as the scheme expanded and became more and more popular. Marketing companies and mortgage brokers, saw the opportunity to cash-in on the discounted price, would add on their own fees for arranging mortgages, which would usually be a minimum of £1500.00. Solicitors were equally as guilty, some even falsifying quotes for home improvements in order to secure a larger mortgage, which would cover their own fees.

Right to Buy Mortgage Mis-selling is not a victimless crime and is one which  needs to be addressed.   If it is proven that you have a mis sold right to buy mortgage then you could be entitled to compensation.

Do you think you were mis-sold your mortgage? Did you ever wonder why the fees involved were so high? If so, then contact us today to make a claim.  There is no fee payable, so you have nothing to lose and everything to gain.

Tags: free mortgage audit, mis sold mortgage, Mis sold mortgages, mis sold right to buy