Lawyers launch compensation service for 'mis-sold' Right to Buy borrowers
Thursday 16th August 2012
A law firm has launched a service for Right to Buy purchasers of council homes who it says have been mis-sold mortgages and can win compensation from brokers.
Tandem Law, in the north-west, says that ‘a lot of people’ were sold products and mortgages they may not have needed over the last ten years.
Its website says that it has so far helped thousands of people claim compensation from ‘unscrupulous’ brokers.
The firm says that not enough media attention has been paid to the ‘shocking abuses’ of Right to Buy, and that it was only in 2005 that the FSA slowly began to regulate the buying of council homes.
It says excessive fees were taken out of clients’ discounts, either without their knowledge, or after having been incorrectly explained. While this was not illegal, it was professional negligence both on the part of the broker and the solicitors involved.
Mike Fong at Tandem Law said: “Thousands of people right across the UK instructed their solicitors to help them achieve their dream of buying their own homes, and those solicitors failed their clients.
“Tandem Law are at the forefront of this search for justice, to fight for our clients’ interests – to get them the compensation they so richly deserve, and help restore the public’s trust in our profession.”
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