There has been a lot of press over recent months related to people claiming for mis-sold pensions. The number of pension claims actually doubled in the UK in 2018 – making it a hot topic in the national headlines. But with all this focus on pension claims, perhaps it is easy to forget about the other ways in which you could have been mis-sold a financial product.
Here at Expert Pension Claims, we are here to help you with some types of financial mis-selling that you may have experienced. Our team are qualified to assist you if you’re unsure of your next steps, or perhaps not entirely sure whether or not you were mis-sold a financial product such as a SIPP or other investment (for an explanation on what counts as financial mis-selling, click here.)
Without further ado, let’s take a look at other types of financial mis-selling that may help you in your journey.
A high-risk investment is self-explanatory in that you are taking a high risk by investing. Yet at the same time it is a wide open and varied term, with many types which fall under this umbrella. Sadly investors can face losing large amounts of money a result of taking high risks, but under some circumstances, your losses could make you eligible for a payout. Our team can help you decipher your case and see if you can claim.
Types of high-risk investment mis-selling can include (for example):
- Land banking
- Venture capital trust
- Contracts for difference
You could be mis-sold a mortgage
If you have invested in an “interest-only” mortgage, it could be the case that you have been mis-sold and therefore could be due compensation. An interest-only mortgage essentially means that your payments are only paying off interest, and that your money isn’t going towards paying off the value of your house – keeping you in long term and unsolvable debt.
Mortgages can be mis-sold by sellers but also by the bank. If your mortgage ends after your retirement date, or you were advised to switch mortgage lenders without being informed of the fees involved through the existing lender, you could well be eligible.
NOTE: This is an example of financial mis-selling purely for the purpose of this blog, and is not a reflection on the services offered by Expert Pension Claims.
Although financial mis-selling very much goes further than pensions, that does not mean that it should be overlooked. Your pension product, wether it’s a Self Invested Personal Pension (SIPP) or other, may have been sold to you under circumstances which count as mis-selling, in which case, you may be eligible for compensation. If you suspect that yourself or a loved one may have been mis-sold a pension investment, just give us a call and we will be able to tell you right away.
Call us on 0161 968 0768 or fill out our quick claims forms here.