![](https://www.cagtest.co.uk/uploads/set_resources_3/84c1e40ea0e759e3f1505eb1788ddf3c_pattern.png)
diddled
Registered UsersChange your profile picture
-
Posts
440 -
Joined
-
Last visited
-
Days Won
1
Content Type
Profiles
Forums
Post article
CAGMag
Blogs
Keywords
Everything posted by diddled
-
Tarquin Wonder if this is of any help/interest to you. You've nothing to lose by giving them a ring. Bullet no 3 jumped out at me. Building societies have an obligation to find the " best price which can be reasonably obtained" whilst banks have a " duty of care" to a borrower. From 31st October 2004 the FSA mortgage rules say that all lenders must obtain the "best price that might reasonably be paid". It is possible to dispute the amount being claimed by the mortgage lender in some cases. · If you can show that the house was sold for substantially below the proper market price taking into account the market conditions at the time of sale. · If the house was not marketed sufficiently to obtain a good sale price. · If you arranged a sale which was refused by the lender, but after repossession the house was sold by the lender for a much lower price. · If the house stood empty for a very long time you may be able to argue that the mortgage company should have rented it out and therefore offset possible rental income against the shortfall balance. · If the lender decides to leave the house empty and not sell it either , then you may have an argument for asking the court to order a sale . If you feel any of these examples may apply to you phone us for advice. ] http://www.insolvencyhelpline.co.uk/debt_factsheets/mortgage_shortfalls.php#2
-
Tarquin Im confident you have done the right thing by challenging in writing the lenders and the receivers actions. I dont really expect them to resolve this, however if you intend to litigate a court wouldnt look favourably on you if you hadn't given the perpetrators the opportunity to resolve it before commencing court action.
-
LPA Receivers are deemed in a strict legal sense the mortgagors agents, thats one of the reasons why there actions/inactions are outside of FOS jurisdiction. You could lodge a formal complaint with RICS about Allsops conduct on the grounds that they acted in bad faith, breached trust/fiduciary duty, etc.
-
Mortgage Express sold my flat with 40k shortfall
diddled replied to mishel02's topic in Mortgages and Secured Loans
Don't think so, but I will alert other WS/MEX victims to your post -
Mortgage Express sold my flat with 40k shortfall
diddled replied to mishel02's topic in Mortgages and Secured Loans
Ask WS for a completion statement, plus copies of all the invoices in respect of receivership costs and fees, etc Patrick or Chilling will probably be able to help you better than me, Im sure they will pick up on this shortly -
Mortgage Express sold my flat with 40k shortfall
diddled replied to mishel02's topic in Mortgages and Secured Loans
Hi, There are a lot of people on CAG having big problems with MEX and WS How much was the original mortgage for? Have you received a completion statement from WS -
A friend recevied a letter from her mprtgage lender this morning re imminent SMI interest rate cuts. It seems that the DWP is putting all the onus on the borrower to ensure the correct amount is paid, as it states "Usually the DWP would also notify us of any revision to your support entitlement, however on this occasion they have confirmed that they will not be notifying lenders of the revision"
-
In my case FOS investigation took almost 2 years, largely due to lack of co-operation on the banks part. Whilst the FOS substantially upheld my case ( and made a fundamentally flawed decision on some aspects of the case) they could not look at the actions of the LPA receivers, as they are deemed in a strict legal sense the borrowers agents. I rejected FOS decision in favour of taking other action
-
http://www.financial-ombudsman.org.uk/faq/FSA_FSCS_FOS_jointleaflet.pdf Are there any limits on the awards or compensation that the Financial Ombudsman Service or the Financial Services Compensation Scheme can make? The Financial Ombudsman Service can make decisions binding on firms for awards up to £100,000. The Financial Services Compensation Scheme can only pay compensation for financial loss (so it cannot compensate for distress, for example) and there are limits to the amounts of compensation it can pay. These limits are set out on its website. http://www.fscs.org.uk/consumer/key_facts/limitations_of_the_scheme/co mpensation_limits/
-
Compo is limited to £100,000 with FOS, so in cases where landlords have large portfolios they may still not get properly re-imbursed for their losses. Also as LPA Receivers are deemed in a strict legal sense to be the borrowers agents FOS claim that receivers actions/inactions are outside of their jurisdiction, and they can only look at the events leading up to and resulting in receivers being appointed.
-
Patrick, I dont have a working scanner at the moment, but will see what I can dig out. Im trying to help chilling at the moment with a CPR letter. Its not really my field and all the templates Ive seen seem to be ones that can be sent after proceedings have started. Can you help, or direct to an appropriate template please?
-
Spoke to the above, very nice lady, but it doesnt look like the consultation will help in my case. To hopefully assist her I am providing her with a copy letter from the bank that demonstrates the attitude Banks take towards vulnerable mentally incapable customers. The letter in question came from a big chief who claimed that the subsequent mental incapacity of a borrower is irrelevant and that the bank relies on the terms of the contract. This letter also confirms that the bank doesnt apply to the Court of Protection, but continues to rely on the contractual provisions, and the powers contained therein.
Latest
Our Picks
Reclaim the right Ltd
reg.05783665
reg. office:-
262 Uxbridge Road, Hatch End
England
HA5 4HS
The Consumer Action Group
×
- Create New...
IPS spam blocked by CleanTalk.