Your clients trust you to safeguard their financial future—but what about their legacy issues from the Celtic Tiger era? Many of your clients are still burdened by unsuitable mortgages sold in this period. With thousands of distressed home loans now owned by private equity funds, these borrowers are trapped by excessive interest rates or expiring interest-only terms—with no clear way out.
In particular, many HNWs have jumbo “Interest Only” mortgages on their principle dwelling home (PDH) where there was no plan in place to repay capital and as a result no affordability test carried out. There are many risks in these type of structures which were not clearly communicated to the consumer to allow then to make an informed decision.
Introducing Legal Protect – a No Win, No Fee solution that helps your clients challenge mis-sold mortgages through the Financial Services & Pensions Ombudsman (FSPO). Our structured complaint process and legal support provide real protection against aggressive loan servicers—offering them a lifeline where no other financial product can.
Once we assess the complaint as strong, we will start the complaint process. If there any actions ongoing or taken against your clients Barry Lyons Solicitors will act to demand that all actions cease against your client until the FSPO has ruled. As you are aware, this may take many years and adding an appeal from both side, you may be looking at a stay being in place for up to 10 years.
This lengthy process creates opportunities for you to negotiate a settlement in the interim. Once we assess your client’s mis-sale case as strong, a number of options will become apparent that may force the Vulture Fund to negotiate for an early settlement.
This is an untapped opportunity to add value to your advisory service and help clients solve one of their biggest financial liabilities.
The filing of complaints and all necessary legal work is carried out by Barry Lyons Solicitors. Banking Risk analysis and case construction is carried out by Ben Hoey, an experienced investment banking financial officer.
To discuss further, please email benhoey@quartech.ie to arrange a call to see how we can find the best option for your clients.