Mortgage Express appoint LPA Recievers Walker Singleton to scare tenants off!

[chillinlong]

Well done Doots! Keep fighting them until resolved. You will discover more info as you go along.

 

Pigland, Its MX that are hiding behind the Durrant. WS will not even respond, I did send them a SAR but I lost the recorded delivery slip so I have sent another. Once I complained so much they said I was welcome to come to the office to inspect all the records, the day before I was supposed to come they cancelled and have ignored my emails since then.

 

Steve Molloy actually does not have a clue, he is a master of side stepping the truth with "I will have to find out and get back to you", he is a very irritating figure, his eyebrows jumps and he scratches his neck like a dodgy salesman with expensive cufflinks from ripping us off when you point out their faults he does not have answers. In other words he does not have a clue and wastes your time, yet he is ready to point out where you have gone wrong. Even if you arrange to have meetings with him to discuss your property he still does not have a clue, he will only do to make himself look good in front of the bank.

 

The banks have actually admitted they have done wrong verbally but they cannot withdraw otherwise this proves they are liable for all the problems caused. Their advice is you should get a solicitor to deal with this! Cannot believe what I am hearing half the time.

[pigland]

Diddled, I'm recording it here!

 

Chillinglong, Your last post made me laugh, particularly the last paragraph!

 

Good day for Doots, it looks like he will have his day! Well done!

[LPAhelper]

Hi all,

 

I have has some experience of receiverships. I really recommend that you should all be calling up/emailing/writing to the receivers to find out what is happening.

 

The best action for you to take is to speak to the receivers and to find out what is happening with the property.

 

Co-operation and communication between the receiver and the owner is the key to clearing the arrears and taking the property back.

 

.

[diddled]

Well my experience of Walker Singleton Receivers is that they make it crystal clear that it is they who are in control and the property owner no longer fits into the equation. They just dont want to know.

I believe that arrogance breeds incompetence and WS will very soon trip themselves up bigstyle.

[chillinlong]

hear hear!

 

WS would not even speak to me until I complained that much the bank eventually forced them to interact but even so, their arrogance breeds through the company it is very difficult to communicate with them as their superior beings obviously know a lot more than us (Including the young graduates who have never managed properties in their lives and all of a sudden are now experts, their bosses have now delegated these young kids to decide on the futures of these properties in my case) will not let you say and do what you know is right let alone their attitude puts you off working together to resolve the situations.

 

These kids will ruin everything landlords and homeowners have worked hard to build up.

[Nightmare4banks]

Hi All!

 

Sorry to read about all of your problems but I have been reading this thread and have a few ideas/suggestions that could possibly help you:

 

1.Complain about the charges that they add to your mortgage accounts as these charges are what can trigger potentially a repo.

 

2.Complain to the LPA in writing and if you have already done this,may I suggest that you complain to The Royal Institute Of Chartered Surveyors RICS about the LPA and mention that there is a conflict of interest as the LPA is not acting in your interests contrary to the fact the LPA is agent of the landlord/landlady - I say this because I think that there is this due to the way in which the LPA is behaving.

 

Also,compensation can be awarded.

 

The number for the RICS is: 020 7 695 1670

 

email: regulation@rics.org

 

3.Also,I cannot see any harm in not writing to the CEO of Mortgage Express and telling him that you will go to the media and about the way that they behave(also you could mention that now you are paying his wages asa taxpayer) as the real intention behind their actions is to get repos,sell at a below market value(quote the case that I mentioned in one of my previous posts in this thread about the underhanded sale so it would not be slander but fact) and then chase the mortgage payer for the difference.

 

I have done this in the past and it is good fun to receive a written apology or I get what I want out of the complaint!

 

 

4.Also,do not forget to sue for loss of rent(less sensible management fee say around 10%) and stress!

 

Anyway,I hope this helps.

 

If anyone has any questions,please feel free to ask.

 

All the best!

 

Nightmare4banks

Edited January 21, 2010 by Nightmare4banks

[diddled]

pigland - probably a stupid question, but did Steve Molloy email you back yesterday as promised.

[pigland]

Of course Steve Molloy didn't get back to me!! No surprise there then?!

 

Nightmare4 Banks...Thanks for your input I think you've got some valid points. Their are 2700 Mex customers with Walker Singleton any suggestions how we can get to them? Media is a good idea, but who?

 

I'm sure a few of us will be taking legal action.

 

Walker Singleton address for anyone wishing to know is;

Property House

Lister Lane

Halifax

HX1 5AS

Edited February 18, 2010 by pigland

[diddled]

Seems to be one and the same, I will PM you with further details

[Nightmare4banks]

Hi All!

 

Pigland,in reply to your last post and in my view:

 

1.I would just start by complaining in writing to the LPA as yiou have highlighted here and send the letter to the person in chrge of the company and send the letter by Recorded Delivery.

 

2.There is another thing that you may not know about your Mx mortgages and that is they have all been securitised.

3.What this means is that Mx is no longer the real owner of your mortgage but it is owned by a SPV.The main thing that it is never mentionecd to the borrower.

4.The SPVs are a greedy bunch that want to make a killing out their investment in the securitised mortgages and this is why you receive added charges with the main objective of getting as much money possible out of you as possible and force you to either remortgage and pay a very high redemption amount or repossess your property.

5.So,in conclusion I would suggest that you contact Mx and request the full name of the SPV - which they will not give you and you may get your property back this way or treated better as they would refund the charges and bring dow/wipe out the arrears amounts that triggered the repo action in the first place.

6.I have adopted this method with another lender and it is still as far as I am aware managed by the LPA.

 

IMPORTANT NOTE:

 

If you want to find out more about securitised mortgages just go to the thread about SPML/London Mortgage Company - this thread has been going for over a year now but it is a real eye opener regarding the realities of securitised

mortgages and the filthy ways in which we as mortgage payers have been conned and duped in borrowing from them.Also,feel free to post your personal experiences with Mx and we may be able to help each other more.

 

REGARDING MEDIA ATTENTION..

 

I will post about this another time as it now just past 4am!

 

Anyway,I hope you find this information useful.

 

If you have any questions,please just ask.

 

Keep us posted!

 

All the best!

 

Cheers,

 

Nightmare4anks

Edited January 22, 2010 by Nightmare4banks

[pigland]

Nightmare4banks!

 

Big Thank you for the info!

 

So for clarity... adding a bit and for debate.....

 

Due to excessive charges the accounts go into alleged arrears...

 

These charges should never have been charged because;

A; They are illegal, excessive, not on terms and conditions etc and ???

B; As mortgagors/borrowers we have not been notified about the SPV and they can't instruct LPA receivers??? Therefore;

 

If a receiver has been appointed invalidly, because of a defect in his appointment or a defect in the security, he is a trespasser in law and both he and his appointor may be liable in damages.

 

Nightmare; In my case I put the accounts in dispute because of these charges. MEX said that they were added to the balance of the loan so this was not the reason. I argued that even though they went on the balance they were charging interest and on previous accounts that were now closed they still owe me money.

 

All of the above is not stated as a fact it for discussion purposes; There's a lot of you sending information now via pm. Thank you, the info we have is getting better. It's mindblowing! Once it's collated we'll report back. Please keep it coming!

 

In addition...Has WS tried to insure your property whilst they've kept it empty..If so with who?

Edited February 18, 2010 by pigland

[diddled]

They wouldn't tell me who the property was insured with, said it was on a block policy

[diddled]

After the receivers had sold my property I managed to get hold of some of the Insurance invoices that related to the period after the tenants had left and the property was stood empty.

These Invoices were addressed to the Bank in question, but c/o Walker Singleton Halifax.

I also have a copy of a letter sent by WS to the Bank that says something on the lines of - as we are not in funds, and in order to avoid payment of VAT by the Bank I have asked the Insurer to Invoice you (the Bank) direct.

These Insurance invoices are from JLT Corporate Recovery Risks (a division of Jardine Lloyd Thompson UK Ltd. Lloyds Brokers)

 

Any further info anyone may need please ask, and if info not appropriate to post on open forum please PM me.

[lins3891]

Just thought i would add i was a tennant when walker s took over from out landlord for non payment and all started off ok rent payments were made direct to ws and paid on time but 3 months later they sent a letter to say we have 1 month to vacate the premises as it was going up for auction

 

I disputed the fact that my tennacy agree ment lasted another 8 months as we had already lived there over 2 years they said as the landlord had lost the house we had to leave the agremment was no longer valid

 

I took the case to csa and they said it stands well to cut the story short they tried more bully tactic to get us out but we did not leave in the end the landlord paid his debt and took the house back we lived there another 16 months then got are own home so i know how it feels to be on the other end

[Nightmare4banks]

Hi All!

 

Pigland,in reply to your last post,

 

Please feel free to send me a PM anytime!

 

Lins 3891,

 

In reply to your last post:

 

1.This is another angle regarding repos of landlord/landlady properties as it causes tenants to become homeless.

 

2.If the tenancy is within the fixed term of an Assured Shorthold that tenancy is deemed be to legally binding on the tenants,the landlord and any manager i.e.LPA.

 

3.Once the fixed term expires,the landlord/LPA can issue a Section 21 Notice to Quit giving the tenants two months vacate.

 

4.If the tenant does not move out after the two months have lapsed,the next step would be to go to court to get the possession order.

 

5.But in many cases and providing that the tenant is not in arrears the property is purchased with the tenant remaining in the property or an amicable arrangement is met for the tenant to remain until alternative property is found and not actions that cause tenants to vacate or be potentially homeless.

 

 

If anyone has any questions,please free to ask.

 

Cheers,

 

Nightmare4banks

[pigland]

Lins3891

 

Thank you for your input, this course of action taken by lenders instructing such Lpa receivers does affect landlords and tenants alike. It is good to hear you eventually got your own home!

 

Anybody got any more information on Auction houses these receivers use?

 

Pigland

[pigland]

For information and comment;

 

Property Mortgaged through Mortgage Express must be used solely for residential purposes. Properties considered by Mortgage Express to be unacceptable security: freehold flats, commercial properties.

 

Does this mean an LPA receiver cannot be instructed under the 1925 Law of property act as this is for commercial property only?

Edited January 22, 2010 by pigland

[diddled]

Auction Houses - looks like a closed shop trying to get info on these.

This is an interesting article though, anyone fancy signing up for a free trial?

Bargain Properties - Big Profits

[Nightmare4banks]

Hi All!

 

Pigland,in reply to your last post and in my view:

 

You have misunderstood the lending restriction criteria.

 

The lending is restricted to say leasehold flats and houses only - residential investment properties and nothing else i.e commercial properties etc.

 

Anyway,I hope this helps.

 

If you have any other questions,please just ask.

 

Cheers,

 

 

Nightmare4banks

 

Pigland,your Mx mortgage is secured on what type of property?

Edited January 26, 2010 by Nightmare4banks

[chillinlong]

Some interesting posts in the last few days. Thanks for everyones input.

Good question though from Pigland about the insurance. One property I had became vacant due to the tenants being disgusted with WS tactics and customer service, since it was vacant the boiler has been stolen. I queiried with WS whether they had insurance to get this replaced ready for renting again. Guess what, no replies as usual.

 

They only reply when they will try and blame you for something so they can use this as evidence, they will not reply to anything else.

 

Im not sure Steve Molloy and Stephen Malloy are the same people though, cant be otherwise some serious corruption going on.

 

I have made several complaints via letter to them and the director became involved who then just passed it onto the person I am having problems with, in other words still no progress as Steve Molloy just does not answer the questions and side steps every point. I had a response for them and they never got back to me.

 

Although it is worth complaining to the RICs about the service these supposed LPA recievers have been giving out is a shoddy operation making so many peoples lives a misery with their bully boy tactics. I plan on starting all of this next week and kick up such a fuss and then sit down and see what happends .

 

Nightmare4Banks I presume MX is all secured on BTL as this is what they specialised in.

 

If only they would just communicate it would make life so much easier and everyone lose less money all round and prevent the government losing so much money with MX.

[chillinlong]

Also note on this article it spells his name differently:

 

Tenants lose homes as buy-to-let crunch hits | This is Money

 

Maybe he has two different names then

[Nightmare4banks]

chillinlong,in reply to your tw last posts and in my view:

 

1.Mx mortgages are not just BTL as Mx would also lend to self-employed people with no bad credit and no proof of income or more known as a self-certification mortgage.

2.However,this does not stop a mortgage agreement having a LPA 1925 clause in it.

3.Regarding the link to the article in the online paper,there are two things to remember:

 

a.If the mortgage that was taken out was a BTL mortgage with a LPA 1925 clause in the agreement and the landlord had problems,the LPA MUST continue to accept rent until the tenancy expires.I have mentioned more about this in a previous post on this thread.

 

b.If someone rented a property to a tenant WITHOUT the permission of the mortgage company - this is normally upon payment of a fee from main residence mortgage to BTL.In this case,the tenant would be classed as unlawfully residing in the property as the landlord had committed fraud.

 

I hope this helps.

 

FINAL COMMENT

 

When anyone complains it should be about the loss of the investment of the landlord and also the loss of the tenant's home too due to the LPA'S antics.

 

In general,a VERY bad state of affairs!

 

Anyway,just my 2p's worth!

Edited January 24, 2010 by Nightmare4banks

[chillinlong]

Thank you very much nightmare4banks, some interesting points...

 

I will have to continue trying to resolve matters and relay whatever information that might be useful for fellow consumers in the same position.

 

I will also have to read that SPML post but I will have to allocate a day for that as there are quite a lot of replies. Is there anyway we can jsut read all posts on one page?

[Nightmare4banks]

Chillinlong,in reply to your last post:

 

The answer is very simply NO!

 

This is because there is so much information and people that have either lost their homes,facing repos now or lost their homes and been chased for shortfalls created by underhanded dealings.

 

The main things to remember that securitised mortgages are designed to make investors a very quick buck and this is at the expense of every person that has a secured loan/mortgage taken out.The charges on the mortgage accounts plus the excessive fees are designed to either make the borrower remortgage at a very heavy cost or get repossessed.

 

Dirty filthy vermin! By the way that was a compliment!

 

I hope this answers your question.

[pigland]

Chillinglong etc,

 

It is strange that Malloy/Molloy is not getting back to any of us. I feel that this may be due to perhaps a postal address error. Therefore a suggested alternative address may be:

 

Grass Garth,

Rookes Lane,

Halifax

HX3 8PU

Edited February 18, 2010 by pigland