Secured Loan Claims

A secured second charge mortgage claim is a complaint made by a borrower who believes the loan was mis-sold, unsuitable for their circumstances, or unaffordable from the outset. Insufficient checks conducted by the lender Incomplete or mis-leading advice Pressure to consolidate debts or borrow more than needed You couldn't afford repayments from the start Your income or outgoings were not fully checked The lender did not check your payslips or bank statements Who May Have a Claim? Claims can be made by homeowners who took out a secured second charge loan and believe it was unsuitable or improperly sold. This includes both broker-advised and lender-arranged loans. Claims can go back over several years Even if the loan is repaid, you may still be eligible Even if you had to take out another loan to repay the secured loan What is mis-selling? Mis-selling high-interest loans can occur when a lender neglects to conduct suitable affordability checks. This happens when the lender fails to ensure that a potential borrower can reasonably afford the repayments within the loan's term. It can lead to a borrower receiving a loan that they can't financially manage, which is not only detrimental to the individual but also against FCA regulations. In simpler terms, when a lender doesn't properly check if a customer can afford a loan, it can lead to big problems. They need to make sure that the loan repayments aren't going to be too high for the customer's income and expenses. The Claims Experts Ltd (Trading as Impakt Claims) has been successfully representing customers for a number of years and is happy to discuss potential claims with you.