Some of the Lenders which we can Help You Claim Your Undisclosed Commissions
Mortgage Providers
Acenden
GE Money
MAS
Mortgages PLC
Cheshire Mortgage Corporation
Beacon Home Loans
Lancashire Mortgages
Platform
Paratus
I Group
Mortgage Express
SMPL
GMAC
Advantage Home Loans
Amber Home Loans
Roof Top Mortgages
Kensington
Paragon
Future Mortgages
High Street Home Loans
Redstone
DB Mortgages
Money Partners
Lapithus
Pink Home Loans
Southern Pacific
Swift First
The Mortgage Business
Interbay Limited
Victoria Home Loans
UCB Home Loans
Secured Loan Providers
Blemain Finance
Cedar Holdings
City Mortgage Corp
Endeavour
First Plus
Future
GE Money
Household Mortgage Corp
I Group
J & R Securities
Kensington Personal Loans
Lancashire Mortgage Corp
London Personal Loans
Money partners
Nemo Personal Loans
Northern Home Loans
OCWEN
Picture Financial
Prestige Finance
SPPL
Spring Finance
Swift Advances
White Label
Paragon
Victoria Home Loans
Norton Home Loans
What are undisclosed commissions?
Hidden commissions typically arise when an introducer, agent or finance broker sells you a mortgage or loan from a lender or bank. If the broker or agent received a secret commission for passing your details to the lender, and did not inform you of this, that is a hidden fee. The bank or lender must inform you of all fees within the transaction at the point of sale.
The broker owes a fiduciary duty to their client, including informing them of any profit they will make in the transaction. Financial brokers owe duties to their clients, such as:
If you believe that your bank or finance broker failed to do these things, you could be entitled to hidden commission compensation.
Millions of UK homeowners have been overcharged on their residential mortgage, their buy-to-let mortgage, or secured loans.
If any of the below applies to you, you could have a claim!
Our Simple 3 Step Process
01
Enquire
Complete our simple form and one of our friendly agents will contact you to confirm that you have a claim and to gather a bit more information from you.
02
Discover
On your behalf, we will write to your lender in order to receive all the information we require relating to your potential claim.
03
Claim
We’ll then confirm that you can start your claim for a refund of illegal secret commissions you paid plus any costs and fees that were applied plus interest.
Frequently asked questions
Types of Claim
Thousands of people in the UK have been subject to undisclosed commissions on financial products they have been sold, with many customers completely unaware the commission payments existed.
If you believe a finance broker or lender has failed to disclose the commission they were earning from a loan they sold to you, our group of solicitors can help you secure the compensation you deserve. Under strict consumer protection laws, a lender must always declare all fees and commissions charged to you during the transaction.
This means, if you borrowed money from a bank and they made a payment to a third-party broker on your behalf without telling you, that is a secret commission. If this is the case, the lender is liable to pay back all of the fees, charges and costs relating to the original loan or finance agreement.
Our panel of experts have years of experience in pursuing mis-sold financial products and consumer claims and have obtained thousands in compensation for our clients. If you believe you have a Hidden Commission Claim, please get in touch today to see how our panel of solictiors can help.
Example Claim
A Court of Appeal case in 2021 means that if you were unfairly sold your Secured Loan you could have that loan Unwound or Rescinded, resulting in potentially thousands of pounds paid in interest and charges returned to you.
The same applied to Mortgages that were subject to undisclosed commissions plus Interest applied by the broker, Mortgage claims can be much higher depending on length of the Mortgage and what commissions and Interest was added.
Recission Example
Secured Loan of £23,000 at 16.7% APR
Capital Borrowed £23,000
Broker Fee £2,300
Acceptance Fee £395
Interest Payments: £33,740.57
Total Loan: £59,435.57
Additional Charges: Including Interest Charged
Buildings Insurance Policy: £1058
Default And Collections Charges: £ 480.75
Closing Balance : 9th August 2018: £0.00 ( Loan Paid Off )
Recission
Lender Keeps The Capital Borrowed: £23,000
( Plus 2% Over LIBOR )
Borrower Awarded The Return Of Interest,
Fees And Charges Of:
£37,974.32 ( Plus 4% Over Libor )