Pension MortgagesPensions are a tax efficient way of repaying a mortgage but, as with all investments, you need to ensure that it is performing. If you have lost money, you may be entitled to compensation.
Expert help and support from Greg Vaughan Financial Services: the pensions claims specialist
Pension mortgage mis-selling
One of the largest financial mis-selling scandals to slip below the public radar is the practice of linking a personal pension plan to a mortgage.
The idea sounds fairly sound: build a fund in a tax efficient pension plan and use the tax-free lump sum to repay the mortgage loan, whilst the balance of the retirement fund goes towards providing a regular pension.
The reality, however, is far removed from the theory. Very poor investment performance and high product charges have left the vast majority of personal pension plans unable to generate large enough funds. People counting on the lump sum to pay off their mortgage are often left disappointed and forced to find other funds to cover the shortfall.
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Reclaim what you are owed
Even if your pension mortgage is no longer in force, you may still have lost money by having had one.
If you would have been better off with another mortgage product, you are legally entitled to claim your losses back. You do not need your pension mortgage to be still running to be eligible for compensation.
If this issue affects you, Greg can help you claim the compensation to which you are entitled. Greg offers expert and impartial advice and all claims are handled on a no win-no fee basis. Simply complete the Contact Form opposite or visit the contact page.