Before we make any recommendations, we need to know your case, in detail. It’s easy to take a “stab in the dark” about what you should do but Northern Ireland is full of “fireside lawyers”, giving “advice” without any basis to do so. As they say, “A little knowledge is a dangerous thing”.
As an FCA authorised debt advice firm we never cast aspersions, make recommendations or provide advice until we have completed a detailed review of all the facts.
The “Case Analysis” costs £300. This is a “loss leader” for us and typically takes 3-6 weeks to complete.
Once you’ve instructed us you become our client, meaning you are afforded regulatory protection under our Financial Conduct Authority authorisation, the Financial Ombudsman Service, and Financial Services Compensation Scheme. All our advice is also covered by our Professional Indemnity Insurance.
The process involves:
With the above we can establish several facts:
Should you even be in your current financial situation?
Most mortgage and loan products were sold entirely appropriately, but not all.
The type of mortgage you hold?
- Interest only/ Self-certified/Right-to-buy
- Was your mortgage adviser? “Struck-off” for malpractice
- Personally bankrupt
By accessing critical information held by your lender, via a Subject Access Request (SAR) we can determine if you have been mis-sold your mortgage product. Our Case Analysis will examine the affordability at the time you were sold your mortgage and the suitability of the product for your prevailing circumstances. The status of the adviser and lending criteria will also be investigated.
Examination of what alternatives were available to you at the time, and how these factors related to the provision of suitable advice within the mortgage conduct of business rules, will be made.
We will also assess where you are now.
Your financial position and personal circumstances will determine what your options are in relation to any mortgage re-negotiation or sale and settlement options. Here we assess:
- Current affordability
- Likely future affordability
- Changes in circumstances
- Other assets
- How your lender is likely to view your case
- The cost of retaining your property vs. selling and settling
- Do you qualify for a debt settlement?
- Level of debt reduction/settlement (£70,000 average)
- How long your case is likely to take to complete
- Fees for further work
Due to our relationships with lenders, expertise, track record and experience we are then able to advise you with certainty. A meeting and summary will then establish:
- Overview of your situation
- All options
- Next Steps
Armed with this information/expert advice you can make an informed decision.