Putting Consumers First

Delivering Access to Justice through

Ethical and Professional Standards

Mis-sold Mortgages

Mis-sold Mortgages

The mortgage industry has seen a great deal of change over the last 20 years and remains an important and influencing sector within the UK economy. In 1995 a change towards risk and lending criteria became a headline as Kensington Mortgage Company entered the market offering mortgages via mortgage packagers and brokers to borrowers who had experienced financial difficulty; this became known as sub-prime lending.

Many experts have blamed this type of lending as the cause for the ‘financial crash’ and the demise of Lehman Brothers in 2008. The problem is becoming clearer today as the results of the FSA’s Mortgage Market Review revealed widespread mis-selling of mortgages; lenders have received heavy fines for breaches of strict regulation (MCOB) introduced in 2004. Mis-sold mortgages have left thousands of borrowers trapped as mortgage prisoners; many are demanding access to justice.

What is a mortgage?

Obligation of the Adviser or Sales Person for mis-sold Mortgages

How was this service mis-sold?


Additional Information

Downloadable PDF’s and Links

Mortgage Market Review

Provided by the Financial Services Authority (FSA)

Mortgage Home and Finance Source Book [MCOB]

Provided by the Financial Services Authority (FSA)

Membership Benefits & Services

The Benefits and Services of the Professional Financial Claims Association are intended to extend beyond its own membership. The Financial Claims Management sector needs a credible ‘voice’ at a time of change and increased scrutiny within the sector.

PFCA Code of Practice

The members of the Professional Financial Claims Association wish to set professional standards for member firms...

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