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squirrel5555

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  1. 4 years before the property was repossessed it was valued at 580k by an RICS Surveyor and the price was in line with properties in the local area. During that 4 year period the property remained the same and was not altered and did not suffer structurally etc and in the local area for the same type of home increased in value by approx 24%. After the repossession 2 RICS Surveyors were separately instructed by the mortgage company to value the property. They came with very different figures from each other and the original survey 4 years prior at £510k and £450k. But these figures were again altered (I had no idea this had taken place until the SAR request) The mortgage company’s agent had contacted one of the Surveyors via email with the following conversation Subject – Urgent Valuers comments required Good Morning ………… Further to your recent valuation carried out on the above property. Our Corporate Client has asked us to write to you for your comments. The results of the survey show an 11.7% differential between the two recommended asking prices, a 13.3% differential between the two market value figures and a 19.4% differential between the PMV’S As you can appreciate , this is quite a difference. Our Client requires there to be no more than 10% differential between these figures. I would be grateful if you could contact (the other surveyor’s name and company was then given) and come to some sort of compromise – The number is ……….. Please reply to us by email – should you require further info or assistance please contact me – Later that day the surveyors sent back emails with revised figures Subject Re- Urgent Valuers Comments required Hello – Just spoken to ………. Revised figures mine are listed first Asking £485,000 MV £475,000 PMV £455,000 Asking: - £450,000 MV: - £440,000 PMV: - £420,000 Regards There was a discrepancy in the measurements taken in each survey – one measured the gross external floor area of main building 160 Sq .M and the other at 151 Sq .M Is this normal for Mortgage companies to ask surveyors to alter their figures this way and is it legal/ethical/fair practise etc?
  2. SAR made to Amber Homeloans concerning a repossessed home. The SAR was sent off with the obligatory £10 and they sent a letter straight away confirming the request was being processed and 4 weeks later I received the SAR – but it was not complete and all information beyond the actual date of the repossession had been retained. A letter was sent to them repeating the request for all information held, and to specifically include details of how the property was marketed and sold and at what price they had sold it for etc. 2 weeks later I rang them and they assured me the request was being processed and being treated as a second SAR which allowed them 40 days. On the 39th day I rang to ask was the information ready to send, but they informed me the letter had been lost and asked exactly what information it was I was seeking and “by the way” was I aware of a shortfall - I refused to acknowledge this. I sent them a second letter (3rd if you count the original SAR) requesting the information and telling them I expected a response within 7 days. After one week – nothing – so I called them and said they were now in breech of the Data Protection Act. It was only then they told me I was not entitled to see the Sales Report as the property was not mine from the date of repossession and basically all that followed after that was none of my business, that they had sent all information they had a duty to send, and that was all I was entitled to. I asked for this to be put in writing that they do not consider I am entitled to this information (I won’t be holding my breath). All letters I sent were by recorded delivery. The above is an abbreviation of the number of times I rang them as I could tell early on that they were being evasive when they hadn’t bothered to confirm in writing the second letter they received (and neither the 3rd). I believe they are being deliberately evasive and I need to know how to force them to part with this information. Their tactic of mentioning shortfalls to try and scare me off is not going to work with me. Are they allowed to withhold this information - I logically thought I had every right to know what how they marketed and at what price they had sold the property for, especially if they are mentioning shortfalls. What to do now – apart from the ICO what other recourse is there. Are the ICO toothless or do they have clout – Are the Courts an option – etc P.S The shortfall they “mentioned” is over 100k
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