Shared appreciation mortgages – alleged "wide-spread mis-selling"
last updated August 2007
A consumer wanted the wider-implications process to be applied to what they believed was an industry-wide scandal concerning the "sale" of shared-appreciation mortgages. The ombudsman service and the FSA agreed that there was no evidence of wide-spread mis-selling – the ombudsman service had received only a small number of complaints – and in nearly all the cases it had seen, the banks involved had not given advice and the ombudsman service had found that the documentation had been clear and not misleading.