MIS-SOLD EQUITY RELEASE
Equity Release can work for some people. But did you discuss fees, interest payments and other options like downsizing? If you, or you are the beneficiary of someone who has been mis-sold an Equity Release product contact us now.
Your could be entitled to substantial compensation.
0800 779 7457
NO WIN
NO FEE*
FREQUENTLY ASKED QUESTIONS
What Is Equity Release?
Simply put, Equity Release is a product that allows a homeowner over the age of 55 to release any built up equity on their property. The way Equity Release is set up depends upon several factors like the value of the property and amount of equity in it.
How Do I Know If I Have Been Mis-sold Equity Release?
The person who advised you and the company that supplied the Equity Release product should have been satisfied you clearly understood the risks, costs, outcomes and options. This includes how this would affect future inheritance and tax implications. If all these were not covered or you felt pressured into signing an Equity Release agreement you may have cause to complain.
What Do I need To Make a Claim?
Firstly, let's be clear. Just because you may have seen Equity Release get bad press is not a reason for you to make a complaint. You need to be clear of your reasons. See above. Once you are clear of your reasons we need your help in establishing a firm case. That involves gathering information like your Equity Release agreement and any letters and emails that may have passed between you and the Adviser. Don't panic if you do not have all of these as in most cases we are able to get copies from the various parties involved. But the more you can find, the better it helps your case and the quicker we can move.
What Services Does Claimline Legal Offer?
Claimline Legal will assist you from beginning to end.
Free case review
Collation of all relevant documents
Approaching the relevant Financial Advisers for further details where necessary
Compilation and submission of a formal claim
Handling any rebuttal
Submission to the Financial Ombudsman Service (FOS)
Submission to the Financial Services Compensation Scheme (FSCS)
Ensuring any compensation awarded is correct and in line the relevant regulatory guidelines
The claim documents we send out indicates our services and your rights.
Please speak to one of our trained Consultants for further information.
How Much Compensation With I Get?
It really is difficult to say at this time. Should your claim be upheld many factors will come into play when calculating any compensation awarded. The way your Equity Release product is set up, costs, fees, commissions, property value, losses are all taken into consideration.
There is also the chance the company or IFA who recommended Equity Release may have gone into administration which means your case may have to be presented to the Financial Services Compensation Scheme (FSCS). Don't worry we will do all this for you as part of our end-to-end service.
How Long Will My Claim Take?
Unfortunately, another difficult question to answer right now.
Firstly, your Financial Adviser has 8 weeks to reply to any request for information we make to them. That is the law. But we have systems in place to chase them and ensure they reply on time.
There is also the potential we may need to liaise with the Financial Ombudsman Service (FOS) or the Financial Services Compensation Scheme (FSCS). They all have their own internal processes and we need to work with them to ensure you get the right result in the quickest time.
Claimline Legal has established systems and processes in place to work with all these people and regulatory bodies in the most efficient manner. We just ask you be patient. After all, unless you get compensation, we don't get paid. If you have any concerns, or need an update please email the claims team direct. They are the best people to help you. claims@claimlinelegal.co.uk
Is Claimline Legal UK Ltd A Regulated Company?
Yes. Claimline Legal UK Ltd is authorised and regulated by the Financial Conduct Authority (FCA) is respect of regulated claims management activities. Our registration number is FRN838320 and can be found here.
Can I Submit The Claim Myself?
Yes, you do not need to use a CMC. You have every right to approach your Financial Adviser or any regulatory body (FOS, FSCS) yourself and free of charge.
However, Claimline Legal has over 13 years successful financial claims experience. We have knowledge of financial claims and the processes involved. Sometimes it pays to have experience on your side and you only get one chance to make your claim!
I See The Words "No Upfront Fee" & "No Win No Fee" But What Does That Really Mean?
No Upfront Fee - Some companies will charge you an upfront fee for either reviewing your case or simply handling it. Claimline Legal does NOT charge you ANY upfront fees.
No-Win No-Fee* - The term "no win no fee" is used within the terms outlined in point 6 of our terms and conditions. Whilst we will not charge you a fee should your claim not be upheld, administration and service fees incurred may apply should you decide to cancel our services outside the 14 day cool-off period. Please refer to point 6 of our Terms & Conditions for more information.
