Areas of Law / General Legal Advice

I took out a loan for £70,000 in 2006 through a broker, I was told it was linked to the Bank of England rate, but it turned out not to be, and my broker has given me a refund for not advising me properly. Can I pursue this further with the broker or the lender, since my loan rate has only ever increased and never come down.

It’’s not clear whether the broker has just refunded some (or all) of your set-up fees, or whether he has also agreed that you have been paying excessive interest charges and has compensated you for this. It’’s possible a six-year time limit will apply, depending on when you realised, or should have realised, that your loan was not what you thought it was. Ring the Financial Ombudsman Service (0800 0234567) for more specific help with this.

What our clients say about our lawyers

Very useful and professional advice, thank you.

Another Happy Customer


Read More

About Us

Leading legal advisors, problem solvers – all round good guys! We’re firm believers in a practical, no nonsense approach to law. Forget the jargon, we like to keep it simple – why complicate matters? No stress, no worry, just straightforward solutions to your legal issues. Free legal advice at your fingertips, from the experts to your inbox.

Free-Legal-Advice.co.uk is owned and operated by Farleys Solicitors LLP, a member of The Law Society and is regulated in the practice of law by the Solicitors Regulation Authority, Registration No: 484687. Any advice given on this site or in response to any question is only applicable to the law of England and Wales.

Privacy Policy | Terms