Are You Worried About Your Mortgage?
Ask yourself these questions:
- Was your mortgage suitable for you?
- Did your mortgage advisor properly establish your attitude to risk?
- Was any fact-finding procedure completed during the sales process? Did your adviser obtain comprehensive details of your financial situation?
- Were options for repaying the mortgage, such as a repayment vehicle, discussed with you?
- Did your adviser discuss that you would only be paying interest on your mortgage each month or how you would repay your mortgage when it is finished?
- Did your adviser conduct an affordability assessment?
- When applying for your mortgage, were you asked to prove your income? Did your adviser encourage you to take out a ‘Self Cert’ or ‘Fast Track’ mortgage so there was no need to prove your income?
- Did your adviser discuss how you would meet your mortgage payments once you retire?
- Were you sold a sub-prime mortgage when in fact there was nothing wrong with your credit history and you had never been refused credit before?