If you took out a loan or finance agreement using a broker who was separate from the lender, and you were unaware that your broker received a commission from the lender, then you may be able to make an undisclosed commission claim.
For a FREE consultation: Call 0151 909 6120
UNDISCLOSED COMMISSION
Another term that these claims are known by is ‘hidden’ commission claims. The reason for this is because there is nothing wrong with a broker receiving commission from a lender for referring you to them, provided that you are aware of it and they have complied with their professional duties.
An independent financial broker is supposed to act in your best interests, and not a lender that they have a working relationship with. If your broker has received commission payments from a lender and kept this hidden from you, then this is a breach of their professional duties and you may have a claim.
This may also have led to you not being made aware of ALL of the facts which would allow you to make an informed decision.
There are levels to the extent that a commission is hidden. For example, a half-secret commission may be where it is made clear that the broker will receive commission, but it is not made clear how much commission will be paid at the point of purchase.
Call us for a FREE consultation on 0151 909 6120
CAN I MAKE AN UNDISCLOSED COMMISSION CLAIM?
If your financial broker was independent, i.e., if they had a duty to provide you with impartial information or advice, and they received a hidden commission payment that you were unaware of before taking out a loan, then you may be entitled to make a claim.
You may have taken out a mortgage, a personal loan, a car finance loan, or any other finance agreement.
Provided that there was a hidden commission payment to your broker from your lender, it is unimportant what type of loan you have taken out.
Call us for a FREE consultation on 0151 909 6120
HOW MUCH WILL I RECEIVE IN MY UNDISCLOSED COMMISSION CLAIM?
A failure to diclose commission payments may give rise to several types of claims and consequently, several types of remedy. The Court has the power to order that the agreement can be Unwound or Rescinded.
Ultimately this means that you - the borrower - should be put back into the position that you would have been in had you not taken out the loan or finance agreement and is returned up to many Thousands of pounds of interest payments as well as all charges and fees.
Our experienced team have a track record in a wide range of financial misselling and we are not afraid to take court proceedings against lenders to set precedents to ensure our clients receive their maximum entitlement to compensation.
Our friendly legal experts at SJS Legal would love to speak to you if you believe you are eligible to make an undisclosed commission claim.
We are experienced in a wide range of financial mis-selling cases and we will be able to inform you whether you are entitled to compensation or not, as well as how much you may be entitled to.
If we take your claim on then we promise to fight hard to get you the compensation that you deserve.
At SJS, staying ahead of the curve and keeping up to date with modern cases and results is very important to us in order to ensure that you receive your maximum entitlement
Call us for a FREE consultation on 0151 909 6120
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