Trying to Remortgage - can't found old secured welcome loan - now coast on my deeds - help

[HappyMoo]

Hi.

 

I''m looking for some advice regarding a charge on my property which has been highlighted during a remortgage application.

 

I took out a secured loan with Welcome finance back in 2006 and there is still a charge showing on my property to Progressive Financial services with a note under handing it to Coast- apparently Welcome became Progressive Financial services who then sold all debts to Coast as part of insolvency I think in 2018....

 

gleaned this from googling and here though I'm thinking this is mostly common knowledge that me under my rock missed out totally!

 

they are saying I owe just over £5000. I was pretty sure I had paid this off however upon checking with my bank I must have defaulted as the last payment I made was in September 2009.

 

I have never been asked to repay this loan and have not even had any correspondence regarding this in years!!

 

My question is where do I stand?

 

Do I have to pay this now?

 

And if I don't can I get the charge removed?

 

Some more researching indicates some secured loans have a 12 year statute barred period but that's as far as I've got.....

 

I've no idea where I stand with this now but I do know I have not entered into any correspondence with them or anything since that last payment over 13 years ago.

 

Any help or advice would be greatly appreciated.

 

 

Thank you

Edited November 16, 2022 by dx100uk
please don't post a big block of text again - dx

[dx100uk]

moved to the welcome finance forum.

1000's of stories to read here

 

its can't ever be statute barred, they have a charge on your property.

 

not quite right on the history .....welcome were progressive and also hid under many different trading names too. they eventually went into administration as they could never have paid back the 100'000 of people they ripped off with fake refinanced loans and the ppi/mif/ins scandal.  

 

their remain bunch of mugs that still had loans that were worth anything were sold off to a foreign debt buying company Coast Finance.

 

now 1st what surprises me is you've not had any comms whatsoever, not that this makes any difference sadly, but there are should have been quite a few letters over the years.

 

2nd are you refinancing with a new lender or your existing one?

 

3 get an sar off to coast get all the statements from day one , 

 

yes you might need to pay this, but get all the info 1st.

 

have you any of the original paperwork?

 

dx