Frequently Asked Questions
What is undisclosed commission?
Undisclosed commission is a serious problem many people still
don't know about. It is a secret or hidden commission paid to
your mortgage broker by your lender. The commission was usually a
percentage of the loan borrowed.
Can I claim compensation for an undisclosed commission?
If you took out a mortgage before November 2004, or a second
mortgage before 2009, you may have a claim we can help you with.
The courts have imposed strict obligations on brokers, pursuant
to which, where they were supposed to be acting in the best
interests of a borrower and failed to do that by receiving
commission from the lender, both they and the lenders can be
ordered to pay compensation.
How much compensation can I claim?
Although in some cases the secret commission payments have been
substantial, the amount you could claim back would depend on a
number of factors, such as your broker, mortgage lender, the
amount borrowed, and the length of time for which it was
What if I had more than one mortgage?
That's completely fine, you can make a claim for each mortgage in
respect of which undisclosed commission was paid.
Can I still claim if my mortgage was paid off?
Yes, but strict time limits apply so it’s best to seek advice as
soon as possible.
How long will a claim take?
Since these types of claims can be complex, it's hard to
determine how long it will take before you receive an outcome. It
may only take a few months to get a settlement, but, depending on
the complexity of your case, it could take more than a year.
Do I need to use a Claims Management Company?
You are not required to use a claims management company to pursue
a claim. You have the right to go directly to your broker or
lender, or to use the Financial Ombudsman Service
(www.financial-ombudsman.org.uk) to seek redress independently
and free of charge.