s Lenders Who May Have Missold Mortgages
Mis-sold Mortgage Claims > Specialist Lenders > Lenders who may have missold a mortgage

Lenders who may have Missold Mortgages

There are a number of lenders, both specialist and sub-prime who may have missold a mortgage. These include Accord, Advantage and Northern Rock.

The following lenders were to a greater or lesser extent, involved in specialist lending in the noughties. Due to way they sourced much of their business; it is likely that many would have funded some mis-sold mortgages.

Accord Mortgages

Established as an intermediary focused lender of the Yorkshire Building Society. It offered a wide range of products including, self certification options, professional mortgages, 100% and 100%+ loans. It had a full range of sub-prime mortgages incorporating its credit repair guarantee.  Intermediaries could only submit applications via the internet and it offered immediate on-line decisions and full product cascading.

Advantage

Entering the UK market in 2006 as a mortgage packager who specialised in working with a limited panel of specialist lenders offering sub-prime mortgages. Advantage became a Morgan Stanley Group company. Advantage withdrew from the market and closed its lending operation in 2008, following months of rumours and multi million pound losses.

BM Solutions

BM Solutions was the intermediary brand established from Birmingham Midshires and was part of Halifax Bank of Scotland (HBoS). BM Solutions mainly targeted self certification borrowers. The brand no longer trades and HBoS is now part of the Lloyds Banking Group, which is mainly publically owned

Bristol & West PLC

Bristol & West is a trading style of Bank of Ireland and was a leading lending in self certification and sub-prime mortgages

GE Home lending

GE Money Mortgages were previously called igroup Mortgages Ltd and are part of GE Money, the financial services arm of General Electric. In the UK, GE Money provides financial products to consumers and intermediaries through a range of products such as mortgages, secured loans etc

GMAC (RFC)

General Motors Acceptance Corporation (GMAC) is now called Ally Financial Services and is a US bank holding company that used to be wholly owned by the financial services arm of General Motors. It operates around the world, focusing on motor financing products and services, as well as mortgage operations and commercial finance

Godiva

Godiva is the intermediary (broker) brand of the Coventry Building Society

Kensington Mortgage Company (KMC)

Kensington is an intermediary only lender, providing a range of mortgages through regulated financial advisers. Kensington has recently agreed a settlement with the Financial Services Authority (FSA) following an investigation into the servicing of mortgage accounts in arrears and certain associated charges. Please check their website for further details.

Mortgages PLC (MPLC)

Mortgages PLC is a specialist servicing company that administers mortgages for those customers who don't quite fit into the borrowing requirements of a traditional High Street bank or building society.  It launched in March 1998, and is based in Glasgow. Since November 2004, it has been a wholly owned subsidiary of Merrill Lynch, the leading global financial institution. Since April 2008 Mortgages PLC has focused on servicing and administering assets.

Northern Rock

The Northern Rock was the first bank to be nationalised due to extravagant lending. Many customers were allowed to borrow well in excess of the value of their properties

Platform Home Loans

Platform is the intermediary lender of The Co-operative Bank and is regulated by the Financial Services Authority. They have been operating for over 10 years in the intermediary mortgage market, and have originated over 165,000 mortgages worth over GBP16.36 billion of mortgage business. Launched in February 2003, the company was created from the merger of Platform Home Loans and Verso, both subsidiaries of the Britannia Building Society. Formed through the merger of Britannia and The Co-operative Financial Services in August 2009, Platform now offers a wide range of mortgage products, including mainstream and buy to let.

Rooftop Mortgages

Rooftop Mortgages Ltd, a subsidiary of Bear Stearns and based in London, was closed to new business in 2008. It was a specialist mortgage lender offering a range of products aimed at borrowers who don’t fit a standard mortgage profile. It worked exclusively with the intermediary market

SALT

SALT was the broker brand established by the Derbyshire Building Society and was mainly targeted at self certification borrowers. The brand no longer trades and the Derbyshire Building Society has been taken over by the Nationwide Building Society

The Mortgage Works

The Mortgage Works is a wholly owned subsidiary of the Nationwide Building society and specialises in self certification mortgages

The Mortgage Business (TMB)

TMB was the broker brand established in 1989 as part of Bank of Scotland. TMB was mainly targeted at self certification borrowers. The brand no longer trades and the Bank of Scotland is now part of the Lloyds Banking Group, which is mainly publically owned

UCB Home Loans

UCB is a wholly owned subsidiary of the Nationwide Building society and specialised in self certification mortgages. This trading style is no longer used.

Other companies who may have missold mortgages include:

  • Amber
  • Beacon Homelons
  • Capital Home Loans
  • DB Mortgages
  • EDEUS
  • Freedom Lending (WAVE)
  • FutureMortgages.co.uk
  • First National
  • High Street Home Loans
  • Infinity Mortgages
  • London Mortgage Company (LMC)
  • Mortgage Express
  • Nationwide
  • Preferred Mortgages
  • Southern Pacific Mortgages (SPML)
  • Unity Home Loans
  • Victoria Mortgages