Swift Reclaim Charges and PPI

[jacqui_o]

have just phoned Swift asking for the current telephone number but they "calim" theyno loger do business withthis company and do not have any details...

 

have just done a bt dire enq search and this is what came up

 

Company Details - MORTGAGES & LOANS ETC LTD

 

Registered No. 03863401

 

Address:HOLLYBUSH HOUSE 8 OXHEY ROAD, WATFORD, HERTFORDSHIRE, WD19 4QE, United KingdomType:Private Limited with share capitalIncorporation Date:19-10-1999Status:Non-trading companyLast Accounts Filed up to:29-01-2009Last Accounts Analysed:Nature of business SIC:67130 - Activities auxiliary to financial intermediation not elsewhere classified

Reports:

 

As this company has either not or only recently filed they are not yet analysed by our system, so we are unable to offer a credit report. If you would like to be informed by email when the report is available, please click here

 

they are listing the telephone number for the roofing company.... is it me or is there something justnot quite right in the stateof Denmark here!!!!!!

[jacqui_o]

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[jacqui_o]

what do I do next?

[Sparkie1723]

what do I do next?

 

 

 

HI jacqui_0

 

 

1...As I said write to your Brokers, they may be inactive but are still trading, ask them how much commission they were paid and why did they not tell you they were paid commission, (do not confuse this with brokers fees).

 

2...Write to Swift and tell them just because they say they no longer do business with this broker does not absolve them from their responsibilities of supplying you with the information about them and their dealings with them, they are required to keep information for a period of six years ….if they say they haven’t got any .that means they have destroyed or lost it which is a breach of the Seventh Principle of the DPA..

 

3....Also make them aware of the following ( and that Swift are responsible for the actions and failures of these brokers …..who were their agents)

 

Part of OFT Guidelines 1997

Brokers should disclose, both orally and in writing at the outset, the existence of any brokerage or other fees payable by the borrower. They should explain clearly the

purpose and nature of the fee, when and how payable, and to whom. They should indicate the basis on which the fee will be calculated, and the amount due if known. If the amount of the fee is not fixed at the outset, either in absolute terms or as a percentage of the loan, the broker should indicate the factors which will determine its calculation, together with the likely amount of the fee. The borrower should have as good an idea as possible of the likely liability. The borrower should be notified in

writing of the actual amount of any fee before entering into the loan agreement, and preferably before the loan application is submitted to the lender.

 

The actions of brokers and other intermediaries involved in marketing a lender’s products can jeopardise the lender’s fitness to hold a consumer credit licence, as well as that of the broker. Section 25(2) of the Consumer Credit Act makes clear that the fitness of a licensee can be brought into question by the actions of any of its employees, agents or associates (whether past or present), and section 25(3) defines

‘associate’ for these purposes as including a business associate. A broker may be a business associate of a lender if the broker is tied to the lender (for example, through a right of first refusal agreement), or has an ongoing relationship with the lender, or frequently does business with the lender. This is a matter of fact and degree. It is not necessary for the purposes of determining that an association exists that any formal agency relationship should exist between the lender and the broker.

 

 

Lenders should not disburse brokerage fees on behalf of the borrower without the latter’s prior written request, confirming that the fact and amount (or likely amount) of the fee were disclosed by the broker before the loan application was forwarded to the lender, and that the fee is to be paid from the amount advanced.

--------------------------------------------------------------------

 

 

Swift make the Title Indemnity Insurance a term of the loan agreement and never ask for written consent…….this would be not only be considered an unfair term and Unfair Relationship….it is financial blackmail ……the borrower is forced to take Swifts Indemnity Insurance.( NO OPtion)

 

If you can prove Secret Commission this can render your agreement unenforceable...................Before it was stated under oath in court that Swift do not pay commission ....this would have been hard to prove.......but now they have stated in court that they do not .........when it is FACT they do ......they have attempted to conceal this fact which is ...secrecy....a deliberate attempt to cover it up.

 

sparkie

Edited January 15, 2010 by Sparkie1723

[jacqui_o]

ok will draft a letter and post it..... have already sent Swwift a data info request....

[jacqui_o]

DATA PROTECTION ACT 1998 SUBJECT ACCESS REQUEST

This Subject Data Access Request is made under sections 7, 8 & 9 of the Data Protection Act 1998, and by virtue of the Data Protection (Subject Access) ( Fees and Miscellaneous Provisions) Regulations 2000 ( S.I.No 191).

 

 

 

Please supply us with all data that you hold on us. This includes in particular, but is not limited to, the following:-

The original signed, executed Consumer Credit Act agreement and any terms and conditions that applied at the time the account was opened.

 

Transcripts of all telephone conversations recorded and any notes made in relation to telephone conversations by your company, to and from or by any previous creditor.

 

Where there has been any event in the account history over this period which has required manual intervention by any person, I require disclosure of any indication notes which have either caused or resulted in that manual intervention.

 

True copies of any assignment and/or default notice or enforcement notice that may have taken place sent with a copy of proof of postage that you hold.

 

Documents relating to any insurances added to the account, including any title indemnity insurance contract terms and conditions, the date it was added and deleted (if applicable).

 

Details of any collection charges added to the account; specifically, the date it was levied, a detailed financial breakdown of how the charge was calculated, and what the charge covers.

 

Specific details of the fees/charges levied by any other agency in respect of this account and a detailed breakdown of said fees/charges and what each charge relates to and on what date said charges were levied.

 

A genuine copy of any notice of fair use of my data as required by the Data Protection Act 1998 and any consent that I/we may have given to those uses

 

A list of third parties to whom you have disclosed my/our personal data including Credit Reference Agencies and, a summary of the nature of the information you have disclosed, the reason for this disclosure.

 

Copies of any statements of account for the agreement from its inception, not just a record of payments

 

Where any previous information or records held have been deleted or disposed of, the methods used to do so, including dates, certificates or references confirming details of destruction. Where you are unable to provide such certificates, lease provide a declaration signed by an authorized officer of your company, confirming the dates and methods of destruction of this data, and the reason for the destruction.

 

Full hard copy print outs of my/our personal and financial information, held in a digital, magnetic or any other format which is held in any archives, backups or other storage systems/devices/locations.

 

Full copies of transcripts of any correspondence, in postal, e-mail or any other format which you have entered into with any individual, organisation or third party which contains my personal or financial, or which pertains to me.

 

Details of any third parties which have an interest in our account.

 

Full details of any securitisations that any of our account(s) have been or are involved in

 

Any other information that you hold with regards to me/us and/or our account.

 

A complete list of all transactions, or statements relating to all account and applications made by me/us to and with your organisation.

 

I will contact you by telephone with regards the statutory maximum fee for this request of £10, which shall be paid by debit card, the day after you receive this recorded delivery request.

You have 40 days in which to comply. If there is specific information which you require in order to satisfy yourself as to my identity please let me know by return.

 

However please note that the above address is the one which has been used to make any and all communications with me/us with regards to my/our account information, from Arcadia House which has been hitherto found acceptable.

 

IF YOU ARE UNABLE TO DEAL WITH THIS REQUEST, YOU SHOULD IMMEDIATELY FORWARD IT TO THE PERSON WITHIN YOUR ORGANISTAION REPONSIBLE FOR DATA PROTECTION COMPLIANCE.

 

Yours sincerely

[jacqui_o]

15.01.2010

Dear Sir/Madam,

Please do not think we are asking any other question other than the one we are asking.

How much commission were you paid and why did you not tell us you were paid commission, do not confuse this with brokers fees.

[jacqui_o]

I have had no reply from the broker with regards the above letter, what should be my next move?

[jacqui_o]

Can anyonehelp, broker has not replied to the letter, any suggestions as to what my next move should be?

[sweetjane]

Telephone the Information Commissioner's Office: Information Commissioner's Office - ICO and the Financial Ombudsman Service Financial Ombudsman Service to initiate complaints with both organisations.

[jacqui_o]

I take it the complaint is that they have failed to respond to my request?

[jacqui_o]

anyone????? what is the complaint and about who???

 

is it the broker? or is it Swift?

[42man]

I presume you added the £10 SAR fee....they have 40 days in which to respond.

[jacqui_o]

I have ot Swift yes.......

 

it is the broker who has nto replied!!!! it was the broker who was aksed about the commission.....

 

sweetjhane said got to the ICO and FOS as they had not repsoned, I am asking what is my complaint? or do I jsut tell them that they have faile dto answer...

[jacqui_o]

is there anyone who can help?

[sweetjane]

Yes complain to the ICO about the broker not responding to the SAR and to the FOS if the broker and Swift are not responding - you can bipass them if they are not properly dealing with your complaint and go straight to the FOS.

SJ

[Sparkie1723]

More stuff extracted from section 140 the Unfair Relationship, am posting this on other threads as well

 

sparkie

 

 

Section 140A(1)(a) provides that an unfair relationship may arise by

virtue of the terms of the credit agreement or any related agreement. In some cases unfair contract terms may be sufficient in themselves to give rise to an unfair relationship. In other cases it may be the combination of terms taken together with business practices (whether or not relating to

the operation of the terms) or other acts or omissions of the lender.

Telling you that in line with your instruction they paid the Broker when no one so far as I have discovered ever gave this express permission makes an “unfair relationship”

4.3 In considering the unfairness or otherwise of contract terms, the OFT

would have particular regard to whether the term is unfair for the

purposes of the Unfair Terms in Consumer Contracts Regulations 1999

(UTCCRs). These provide that a contractual term (if not individually

negotiated) is unfair if, contrary to the requirement of good faith, it

causes a significant imbalance in the parties' rights and obligations under the contract, to the detriment of the consumer.

Making payment of the Broker Fees a condition of the agreement is an “unfair relationship” because it dies actual specify this they just take it.

The same with the Title Indemnity Insurance

For example, the borrower may be unaware that a fee would be charged

in a particular case, or the level of the fee, or how this might impact on

the debt. He may also be unaware that rates might increase in particular

circumstances, or were unlikely to reduce in line with changes in the

market. The lender may have failed to disclose relevant information, or may have done so in a false or misleading manner, misrepresenting key

elements. The information may also have been unclear or ambiguous,

and so may not have been readily comprehensible.

 

Linked transaction is defined in section 19 of the 1974 Act. It includes

where:

• the transaction is entered into in compliance with a term of the credit

agreement

• the transaction is financed, or to be financed, by the agreement

(where the latter is a debtor-creditor-supplier agreement), or

• the borrower (or a relative) enters into the transaction on the

suggestion of the lender (or an associate or certain other persons13)

to induce the lender to enter into the credit agreement, or for another

purpose related to that agreement.

This is what I have argued for ages, the Brokers Fees are transactions financed by the agreement and you pay interest on these makes it a debtor- creditor - supplier - agreement and so is the Title Indemnity Insurance,

These make the Swift unregulated agreements a partly regulated multiple agreement………Despite any argument about the Heath case that was ruled

[jacqui_o]

sweetjane it was Swift I SAR'd not the broker......... janus or ell-enn told me to write ot the broker requesting some sheet. that is what they have not responded to......

 

The phone number Swift given for them is years out of date.......

 

Do I now SAR the broker???

[jacqui_o]

Thanks for that Sparkle

 

I am however very confused...... by the figures....

 

loan facility 11275

 

net loan 9993.13

 

amount of credit 11571.63....surely the loan facility and amount of credit hsould be the same?

 

it also appears that they have added the ppi and all the legal and brookers fees to the loan and are charging interest on that for the 300 months....

 

now we were not told that at anypoint..... and can they actually do that?

 

or can we reclaim the ppi and the brokers fees and all the interest on them....and would it just be from the date of the loan till now or would it be for the entire duration of the loan as that is how they have worke dout the payments...

[Sparkie1723]

HI jacqui o

 

Can you post your agreement up again only make it bigger so it can be read a little better ..on first look there appears to be a great deal wrong with your agreement as it is a regulated agreement it falls foul of the CCA and The CCCregs and more than likely the UTCCC regs.

sparkie

[sweetjane]

Hi Jaqui O

The ICO will deal with non-compliance of a SAR (whether it's the broker or SWIFT). The FOS will help you with your complaint against SWIFT. They ask you to go to the COmpany with a complaint first but if the Company don't respond, you can go straight to the FOS.

Best

SJ

[jacqui_o]

Hi Sparkie sorry do not know how to make it larger, the loan was taken out in april 04....

[jacqui_o]

Thanks for that sj, ell-enn told me to write to the broker and ask for details of the commission, I did nto do it as a SAR, should I now do so?

 

I just sent a letter asking...

[sweetjane]

Phone the FSA and say you're trying to track down your broker - the broker should have been registered with them at the point of sale. Then you can SAR them and SWIFT.

[jacqui_o]

ok thanks sj, will do so:)