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 borrowed.

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.