Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
please can you tell me if this apply's to commercial mortgage??
mine wont even respond to me and have said that if i dont pay them the arrears they will reposess me
Not sure, The letter has gone out to all CEOs of mortgage co's so I would have thought so. They have to really work with the customers now or they face getting a fine. I know of 2 evictions that have been cancelled in a week for NO reason at all.
I would imagine that it would apply to ALL.
Especially given the Governments,tough calls to those who are causing headaches in other areas for business.
does anyone know who i can get advice of over this??? the mortgage is non regulated and the fsa have said they cant do much for me in the past but they must have some guildlines or someone to complain to as there is just no help or anything from them and then they add charges as if they have gone out of fashion.
The Financial Services Authority (FSA) is an independent organisation responsible for regulating financial services in the UK.
The FSA's aim is to promote efficient, orderly and fair financial markets and help retail financial service consumers get a fair deal.
The FSA was set up by government. The government is responsible for the overall scope of the FSA’s regulatory activities and for its powers.
The FSA regulates most financial services markets, exchanges and firms. It sets the standards that they must meet and can take action against firms if they fail to meet the required standards.
Thats their policy statement.
These new warnings have been pre empted by the way the mortgage Companies have been behaving.
Clearly It points the way to anyone who feels they are not being treated within the FSA guidances to remind the lenders of it,and specifically refere to this.
Gazhodge not too sure of what your situation is but I would suggest you try and contact again you mortgage co and see what arrangemnt you can come to. If they still do not budge quote what the fSA say.
the problem i had was that they said that it was a non regulated agreement due to it being a commercial maortgage. i have just spoken to the oft who have told me to speak to the financial Ombudsman?? are these the same people???
No problem.
Will be good to know the position from them.
Once we know more about their take on things-we can make a stickie and get it posted up for others.which could include some temp letters for use.
Also for anyone interested,this warning comes following an earlier review by the FSA,in which concerns were found.
heres a link to that.
that pre-action protocol is as much use as a chocalate fireguard have a read herhttp://news.bbc.co.uk/1/hi/business/7746187.stma in fact listen to the program from the link on that page - thats shows what things are really like and is isn't good listening to say the least.
It may be of help to some, but repossessions by some of the private water companies through charging orders aren't regulated in the same way, and are seemingly completely unregulated. There is no minimum amount for which you can lose your home in this way, and it's full steam ahead for the water companies. Profit at the cost of their customers' homes.
Guidance for Posessions /NOVEMBER 2008
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