Regency mortgage corporation who were a significant force in the Right to buy market at it’s peak between 2004 and 2007 and been declared in default by the Financial Services Compensation Scheme.

The notice was confirmed on 29th June 2010.

It is believed that they helped many clients purchase their council house from the local authority.  Clients were often introduced by a marketing company who would charge them for the initial part of the process.

Once introduced to Regency Mortgages they were often placed with sub prime mortgage lenders and charged large fees.  Regency was also fined in 2006 for the mis selling of payment protection insurance. 

In some circumstances customers who had been made redundant didn’t make a claim on their payment protection insurance policy has they weren’t aware they had it.

PPI can be mis sold for a number of reasons and below are just a few examples:

1.  You weren’t made aware the policy was optional

2.  You were led to believe the loan would only be approved if you took the cover (very common)

3.  You were self employed at the time

4.  You had pre existing medical conditions that weren’t discussed.

A number of clients have approached us who used regency and don’t understand why they were placed with a sub prime lender.  At the time they were led to believe it was their only option.

Mis sold mortgages are a serious problem that the financial services authority is tackling.

Where a client has lost out financial due to poor advice they are entitled to compensation.

If you are a past customer of regency mortgage corporation or any other broker for that matter and are concerned they you may have mis sold mortgages or a mis sold ppi and wish to reclaim ppi or compensation you should contact us today at http://www.missoldmortgage.co.uk/apply-now/

Tags: Mis sold mortgages, mis sold ppi, ppi reclaim, reclaim ppi