Southern Pacific or Southern Pacific Mortgages also known as: SPML, SPPL Loans.
If you have a Southern Pacific Mortgage or Loan, it probably means you will be paying higher monthly payments for many years and it could be impossible to remortgage to a better Lender in the future.
You may have been told by a Mortgage Adviser that because of your income or your credit history, a Mortgage with a "Non High Street Lender" was your only option.
But thousands of other people without income proof and poor credit history's were able to take out Mortgages with normal Banks and Building Society's at far lower interest rates.
What you may not know is "Non High Street Lenders" paid Advisers and Brokers commissions of up to £10,000 for each of Mortgage they sold.This has led to many people being mis-sold the wrong Mortgage.
However, Government legislation now means that if you were mis-sold your Mortgage or encouraged to exaggerate your income you could be entitled to claim thousands of pounds in compensation.
Lenders such as GMAC has already been forced to pay out £7.7 million pounds in compensation to borrowers. DB mortgages has paid £1.5 million pounds to borrowers. Kensington Mortgages paid £1.1 million pounds, Redstone Mortgages are paying £0.5 Million pounds to borrowers and hundreds of Mortgage advisers have also had to pay compensation to borrowers.
The Mortgage industry has already set aside millions of pounds to pay out compensation to borrowers and this year the Government backed FSCS compensation fund is £130 million pounds.
You can find out for Free in just 60 seconds if you can claim compensation for your Southern Pacific Mortgage or Loan by CLICKING HERE