Martello was instructed by various mortgage brokers, across multiple cases regarding professional negligence claims concerning interest-only mortgages. The claim(s) alleged that the lenders were negligent in their advice, and the borrowers did not have the requisite knowledge of the material facts when taking out their respective interest only mortgages.
Our expert was an experienced compliance officer and director, appointed by the FSA/FCA as a Skilled Person and Independent Person, as well as having experience advising on mortgage-related issues such as the Mortgage Conduct of Business rules. Our expert was asked to comment on whether the lenders had met the standard of a reasonably competent mortgage broker at the relevant time when advising the claimants on a suitable mortgage.
These cases were dropped before hearing.
