FAQ2020-01-28T08:44:14+00:00

Customer FAQ – Frequently Asked Questions

Still have questions? Before contacting us you might want to look through the questions and answers in this section.

What do I need to do in order to start my mortgage claim?2020-01-28T08:21:08+00:00

All you need to do is simply fill in our 2-step application form and we can progress your case on your behalf.

First Step

You will need to provide your personal details, along with a valid telephone number and e-mail address. Also, there are just five questions we require you to answer to ensure you are eligible to make a claim.

Second Step

If you are eligible to make a claim, there will be a document for you to sign which will consist of a Damages Based Agreement (DBA) and a Form of Authority. Once signed, Quanta Law can officially start to work on your case.

If you require any assistance in completing the above documentation or any further questions, please don’t hesitate to contact us at enquiries@quantalaw.co.uk.

Can I still apply for a claim if I am in an IVA or Bankrupt?2020-01-28T08:19:57+00:00

If you are in an IVA or bankrupt, please email us at enquiries@quantalaw.co.uk and we shall see if we can assist you further. Each client will be assessed on a case by case basis.

Can I pursue a claim alone if I have a joint mortgage?2020-01-28T08:19:40+00:00

If you have a joint mortgage and you no longer have contact with the other mortgagee, we can still carry out your mortgage assessment. If your case is successful, you will be entitled to the following amount of compensation:

  • If you are 1 of 2 people named on your mortgage, you would be entitled to 50% of any compensation each**
  • If you are 1 of 3 people named on your mortgage, you would be entitled to 33% of any compensation each**
  • If you are 1 of 4 people named on your mortgage, you would be entitled to 25% of any compensation each**
What is a Damages Based Agreement (DBA)?2020-01-28T08:19:18+00:00

A Damages Based Agreement (DBA) is an agreement which allows the client to pursue a claim on a No Win, No Fee basis* and a percentage of the compensation will be paid to the solicitors in the event of a successful claim.

What is a Form of Authority?2020-01-28T08:17:51+00:00

A Form of Authority grants us (the law firm) permission to act on your behalf.

What is a Consumer Credit Agreement (CCA) and why might I need to sign one?2020-01-28T08:17:36+00:00

A Consumer Credit Agreement (CCA) is a loan agreement which details the terms of the loan to the client to pay for disbursements to progress your case and specifies the amount we will be paying in relation to your case. The loan (CCA) will be repaid from the 35% DBA success fee if your case is successful or by the insurance policy if your case is unsuccessful.

You may be required to sign a CCA which allows for the disbursements and legal expenses to be paid in order to progress your case.

What is an ATE Policy?2020-01-28T08:17:08+00:00

After The Event (ATE) insurance is a policy which covers the legal expenses and disbursements involved in pursuing a claim. In litigated cases the insurance also covers the legal costs a claimant must pay the defendant when the claim is unsuccessful or terminated on the advice of a solicitor.

ATE insurance is purchased after the incident which has caused loss to the claimant, but normally before any significant legal costs or disbursements are incurred. Therefore, most ATE insurance policies are purchased at the point at which a solicitor begins a claim.

Who are Mortgage.Claims2020-01-28T08:54:13+00:00

Mortgage.Claims is a trading style of Quanta Law who specialise in financial mis-selling cases, so you can rest assured your mortgage claim will be in capable hands.

We understand how distressing and challenging your situation might be and appreciate that your time is valuable, hence why we take care of the process for you. If you wish to utilise our services, the benefits of this are:

  • We will obtain and provide a FREE initial assessment of your mortgage file to assess whether you have been mis-sold or overcharged and are potentially eligible for compensation.
  • We have a large team who can find specific information in your mortgage file to substantiate if you have a valid case for compensation.
  • We work on a No Win, No Fee basis*. This means that you will only pay for our law firm services if your case is successful and are awarded compensation. The cost will be a percentage of your compensation and will be no more than 35% plus VAT. If your case is unsuccessful, you will not be liable for any costs.*

When you instruct Quanta Law, you can be confident that you will receive the efficient, competent and professional service you deserve.

If you require any assistance in completing the above documentation or any further questions, please don’t hesitate to contact us at enquiries@quantalaw.co.uk.

Will my Credit Rating be affected?2020-01-28T08:23:25+00:00

We will only conduct a soft search upon receiving your claim to check your records, including name and address for money laundering purposes, plus whether there is any IVA or Bankruptcy that may prohibit lending.

The above is carried out for all our clients and will not affect your credit rating. As we provide a non-recourse loan, we do not share data with credit reference agencies.

Will my mortgage be affected?2020-01-28T08:23:50+00:00

Your mortgage provider has a duty to treat you fairly and there are no grounds for them to ask for the mortgage to be repaid, or to change the payments based on a claim being made. However, if we identify that your mortgage has been overcharged by your lender and your claim is successful, your payments may change following your claim as the lender will be required to apply the correct interest and charges.

Will I have to go to Court?2020-01-28T08:24:08+00:00

If your case is against a broker who is still trading or a lender who chooses to litigate, then we will represent you in this matter. In that instance, you may be required to attend Court, but your solicitor will be with you every step of the way.

How much compensation will I receive?2020-01-28T08:26:51+00:00

The amount of compensation you could be owed is unique to you. Once we complete our mortgage assessment, we can confirm whether you have a viable case for compensation.

Who pays the compensation?2020-01-28T08:27:29+00:00

Your claim could be against your mortgage provider or your broker, depending on how you obtained your mortgage. If the company or adviser who sold you the mortgage isn’t trading anymore, we shall fight your claim through the Financial Services Compensation Scheme (FSCS).

What happens if my mortgage provider no longer holds my mortgage documents?2020-01-28T08:27:51+00:00

Your mortgage provider should only delete or destroy documentation if your mortgage has been redeemed or account has been closed for over 6 years. However, we may still be able to help if you hold any of the documentation relating to your mortgage, such as the Application Form, Offer Letter and Mortgage Statements.

How do I know if my mortgage was mis-sold to me?2020-01-28T08:28:24+00:00

Negligent advice from a broker or an advisor may have resulted in your mortgage being mis-sold. Many people do not realise that they have been mis-sold a mortgage product and the term “mortgage mis-selling” can cover a wide range of scenarios, as each case will be fully assessed based on the individual circumstances.

The law states that brokers and advisors must ensure that mortgages are affordable throughout the entire mortgage term. If it can be established that your mortgage was mis-sold, then you may be able to claim for losses from the day your mortgage began.

Your broker or advisor should have explained Interest Only mortgages vs Capital Repayment mortgages, and should have ensured you had an adequate repayment method in place. This type of mortgage seems cheaper in the short-term but in the long-term it is significantly more expensive.

A mortgage may have been mis-sold if:

  • You were advised to take a mortgage product that was not suitable for your needs
  • You were advised to take one product over another on the basis that the broker would receive a larger commission
  • You were advised to consolidate debts, loans or credit cards by re-mortgaging
  • You reach retirement age before your mortgage ends
  • The broker did not submit the correct information on the mortgage application in order to obtain a higher mortgage offer
  • You were not told about the commission your mortgage advisor would receive from the mortgage lender
  • You were advised to switch mortgage lenders without being told about any fees and penalties that may have been incurred
  • Adequate checks were not carried out by the lender or broker to ensure a suitable repayment method was in place
How do I know if my mortgage was overcharged?2020-01-28T08:28:52+00:00

When a mortgage offer is made to a potential borrower this offer will specify the interest rate that applies to that mortgage. The borrower will accept this offer expecting to be charged the interest rate specified in the mortgage offer. Given the complexities of calculating interest the borrower puts their trust in the lender that the payments will be calculated correctly and in accordance with the agreement.

Unfortunately, many people have made overpayments on their mortgage due to miscalculations on the part of their mortgage lender. Many lenders have misallocated payments and applied incorrect interest rates. This has resulted in some borrowers being overcharged thousands of pounds which they may be entitled to claim compensation for.

Mortgage overcharging may have occurred if:

  • You took out a mortgage after the 1st July 1995

You are likely to have been overcharged if:

  • You have ever fallen into arrears with your mortgage
  • You have been charged excessive administration fees or arrears fees
  • The lender paid your broker or advisor a fee that was added to the mortgage
  • You are a ‘mortgage prisoner’ – trapped in your current mortgage and unable to switch to a new one
How long can a case take to complete?2020-01-28T08:29:10+00:00

The estimated average timeframe of a claim, typically, is 12-18 months from start to finish. However, this can vary depending on the complexity of your case.

*Charges will apply for any cancellation after the 14-day cooling off period. These charges consist of any legal expenses incurred on your behalf up to the date of cancellation.

** Law firm fees will be deducted from your compensation - this will be 35% plus VAT.