As a result of the recent discovery of the financial scam regarding the mis sold mortgage and insurance in the United Kingdom, numerous banks and lending firms are fined by the financial ombudsman in debt of the whole situation. Shocking results of top banks and lending firms being involved with the situation threatened their investors with the fact of them committing that hideous crime of scamming their customers. Majority of the accused establishments apologized to the public and the affected individuals, however almost all the customers demanded for a compensation over their lost of properties and savings. Mortgage loaners, who got their properties repossessed by the banks, demanded a payback or the repossession.
The Financial Security Authority listed down ten of the banks and lending firms with the most commission on the issue of mis sold mortgage. On top of the line is the Alliance and Leicester in which it was ordered to fine a total of £7,000,000 back to their customers. Included on the tactics they have used to force their customer on buying the insurance was the assertive selling technique. This kind of technique was practiced by failing to inform their customers that they have included the insurance prior to the release and approval of the loan. Another bank that was fined is the HFC Bank, who was identified by the FSA to be inadequate with the needed systems and controls. It was also the HFC who was identified to offer the most expensive payment protection insurance compared to the other banking and lending establishments.
Check the complete list of banks and lending firms that are included on this national scam. You can ask your queries and questions by contacting our free phone number 0800 840 7292 now.
