First plus now elderbridge - unfair interest? no letters since 2018.

[betterlife]

Hi all, 

 

My first post on here, so I'm sorry if its in the wrong place or I'm asking questions already answered. I've had a bit of a read about Elderbridge on here, but I'm not sure I fully understand what I need to do next - so any help would be greatly appreciated. 

 

Bit of background - Divorced in 2018. Ex was horrendous with money and after several trips to court he managed to get a charge of 12k (in his name only on a unsecured NR loan) on our jointly mortgaged house and various other debts. Since he's left I have continued to pay the mortgage with Whistletree (formally NR) and arranged a lower interest rate. Mortgage is still in joint names and I am trying to get it in just my name, but I have various obstacles in the way - His charge, my income, the Elderbridge/ first plus secured loan. 

 

So - First plus loan, migrated to Elderbridge in Jan 2016 according to them. I have had nothing from them since March 2018 - stating Arrears balance was £800 and outstanding charges was £61.50. No statements, no correspondence, nothing. Not even the account showing on my credit file. 

 

I have an appointment to talk about getting the mortgage in my name with Whistltree in the next month and so contacted Elderbridge to see what's happening, with a view to seeing if I could clear what is owed and get that charge off the house and therefore try to put myself in a better position for taking the ex of the mortgage. 

 

After speaking to Elderbridge - initially they cant find my account - "are you sure you have one with us?"  I explain - no correspondence, how much do I (we) owe and can I see about full and final offer? 

 

The gent I spoke to was very nice, but sounded a bit clueless - he said he's send me a statement. I asked about F&F and he said ok we'll send that pack out too.

Again I requested the outstanding balance and he tells me £800. Then quietly plus the £900 in interest in the other account that accrues interest.... I was stunned - I (we) owe £800 and £900 in interest after no correspondence and nothing on my credit record? 

 

I've requested a full SAR, Section 77 and the gent at Elderbridge has raised a complaint apparently. Can anyone help please with next steps - I've read on here that there was a ruling about unfair interest rates - can I argue this successfully with Elderbridge do you think?

 

I know its not huge amounts of money compared to some, but its a lot for me and I'm desperately trying to get things sorted financially. I've come a long way since the split with the ex, my money is now my own for the kids and I and I no longer fear the letterbox going with another court date or bill I had no clue he had run up. 

I just need to get this account closed down and the charge gone, then try to get the ex off the mortgage and get his charge gone too. Any advice welcome. 

 

Thanks for reading!

[dx100uk]

Can you pop up what the charge actually says please from your deeds.

 

as for the elderbridge accounts? If you type in their name in our search of the red banner, youll understand better their fleecing tactics

[betterlife]

 

Hi dx100uk thank you for your reply. 

 

I will have to dig out the charging order - I'm certain its a final charging order for my ex's debt and is in his name only. It went on in 2008. 

 

As for the Elderbridge/first plus charge - I'll have to have a good dig around for that. I think I can get a copy online?

 

Thanks for the advice re Elderbridge -  I've had a bit of a read, but need to do a bit more. I just wonder if I can argue the interest costs - happy to find a way to pay off the £800 but £900 in interest?!! 

 

I'll upload a bit later when I get the bits together. 

Thanks again. 

[dx100uk]

Cant be a co if its in a sole name on a jointly owned property.

it will be a restriction k.

 

stop guessing

go up on the land registry  .gov.uk site only

and get a copy for £3.

 

lets see what it actually says.

[betterlife]

 

Hi dx100uk,

 

Thank you for the advice - I have the title deeds now. 

 

Disappointingly, I've discovered what I think is another interim charging order in the Ex's name. He managed to conceal this - up to now.

Can you tell me what this means please? 

 

B: Proprietorship Register

Title absolute

 

1 (2001) PROPRIETOR: EX  and ME of PROPERTY ADDRESS  (xxxx 2000) The price stated to have been paid on  November 2000 was XXXX.

3 (05.04.2006) RESTRICTION: No disposition of the registered estate by the proprietor of the registered estate is to be registered without a written consent signed by the proprietor for the time being of the Charge dated  March 2006 in favour of Elderbridge Limited referred to in the Charges Register.

 

4 (10.10.2008) RESTRICTION: No disposition of the registered estate is to be registered without a certificate signed by the applicant for registration or his conveyancer that written notice of the disposition was given to National Westminster Bank Plc at care of Drydens Limited trading as drydensfairfax solicitors, 4th Floor, Fairfax House, Merrion Street, Leeds LS2 8BX being the person with the benefit of an interim charging order on the beneficial interest of THE EX HUSBAND made by the XXXXXX County Court on  September 2008 Court ref XXXXXXXX

 

5 (19.05.2010) RESTRICTION: No disposition of the registered estate, other than a disposition by the proprietor of any registered charge registered before the entry of this restriction, is to be registered without a certificate signed by the applicant for registration or their conveyancer that written notice of the disposition was given to CL Finance Limited (Co. Regn. No. 01108021) at Howard Cohen & Co., PO Box 110, Cleckheaton, West Yorkshire BD19 4XT, being the person with the benefit of an interim charging order on the beneficial interest of EX HUSBANDS NAME made by the XXXX  County Court on X May 2010 (Court reference XXXXXXX ).

 

Thank you very much for your time and help - if you need to see any more please let me know. 

 

[dx100uk]

Those are both restriction k's and dont need paying.

they cant harm you

 

Ill post a couple of links later

[dx100uk]

On 16/02/2021 at 10:38, betterlife said:

I have various obstacles in the way -

Who says they are?

[betterlife]

 

When I required the ex to leave 3.5 years ago, we were in negative equity on the house. 

No heating, various other big repairs needed. I had the house valued at 7k less that we owed on the mortgage a couple of months after he left after advice from a solicitor. Plus the Elderbridge loan, which I got down to £800, but still owe obviously.

 

Since then, I've steadily sorted the repairs and got heating through sheer hard work. Ex hasn't paid a penny towards the mortgage or anything else for around 5 years.  The repairs and work has added value to the house at my expense. 

 

I want to get the mortgage in my name, but I'm with Whistletree (ex NRAM) and my credit score is pretty low but climbing slowly. I'm not sure I'll be able to pass the affordability and credit checks with Whistletree, as I definitely wont get a remortgage anywhere else. I have an appointment to see if I can get the mortgage in my name with Whistletree mid March. Current mortgage is interest only and has 5 years left.

 

I'm worried that the restrictions - I was certain they were full charges - so thank you -  will either stop me from re -mortgaging or if I am forced to sell in 5 years when the term is up, that after all my hard work and building up equity that the companies he owes  money to (at least 11k for NatWest - no idea for the 2nd restriction) will swallow up any equity I have added and pays off his debts. 

 

I have paperwork from the issuing court that say 'charging order' and the letters he has had sent from NatWest's solicitor's all say 'charging orders' - does this mean, according to the title deeds that they haven't actually got a charging order? 

 

Thank you again for your time, 

 

Also - I was under the impression that if an interim charging order was granted - it became a final charging order after 28 days if there are no objections? 

[dx100uk]

Advice required re: charging order - General Debt Issues - Consumer Action Group

 

Lowell interim charging order from credit card debt 2009 - General Debt Issues - Consumer Action Group

 

Remortgage issue - Mortgages and Secured Loans - Consumer Action Group

 

read the above carefully 

a restriction k (sole debt on jointly owned home) does NOT need paying if you sell

 

all that needs to be done is the buyers solicitor informs the holder of the 'charge' the property has been sold ...tough luck 

 

soas far as i can see... in your case you should be able to remortage with your existing lender the restrictions dont need paying but will remain on file.