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    • Former billionaire Hui Ka Yan has been fined and banned from the financial market for life.View the full article
    • In terms of "why didn't I make a claim" - well, that has to be understood in the context of the long-standing legal battle and all its permuations with the shark. In essence there was a repo and probable fire sale of the leasehold property - which would have led to me initiating the complaint/ claim v SPF in summer 19. But there was no quick sale. And battle commenced and it ain't done yet 5y later. A potential sale morphed into trying to do a debt deal and then into a full blown battle heading to trial - based on the shark deliberately racking up costs just so the ceo can keep the property for himself.  Along the way they have launched claims in 4 different counties -v- me - trying to get a backdoor B. (Haven't yet succeeded) Simultaneously I got dragged into a contentious forfeiture claim and then into a lease extension debacle - both of which lasted 3y. (I have an association with the freeholders and handled all that legal stuff too) I had some (friend paid for) legal support to begin with.  But mostly I have handled every thing alone.  The sheer weight of all the different cases has been pretty overwhelming. And tedious.  I'm battling an aggressive financial shark that has investors giving them 00s of millions. They've employed teams of expensive lawyers and barristers. And also got juniors doing the boring menial tasks. And, of course, in text book style they've delayed issues on purpose and then sent 000's of docs to read at the 11th hour. Which I not only boringly did read,  but also simultaneously filed for ease of reference later - which has come in very handy in speeding up collating legal bundles and being able to find evidence quickly.  It's also how I found out the damning stuff I could use -v- them.  Bottom line - I haven't really had a moment to breath for 5y. I've had to write a statement recently. And asked a clinic for advice. One of the volunteers asked how I got into this situation.  Which prompted me to say it all started when I got bad advice from a broker. Which kick-started me in to thinking I really should look into making some kind of formal complaint -v- the broker.  Which is where I am now.  Extenuating circumstances as to why I'm complaining so late.  But hopefully still in time ??  
    • At a key lecture in the City of London, the shadow chancellor will also vow to reform the Treasury.View the full article
    • Despite controversy China's Temu is becoming a global online shopping force.View the full article
    • The retailer has come under fire for an advert showing motorcyclists wearing trainers and doing wheelies.View the full article
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    • Hello,

      On 15/1/24 booked appointment with Big Motoring World (BMW) to view a mini on 17/1/24 at 8pm at their Enfield dealership.  

      Car was dirty and test drive was two circuits of roundabout on entry to the showroom.  Was p/x my car and rushed by sales exec and a manager into buying the mini and a 3yr warranty that night, sale all wrapped up by 10pm.  They strongly advised me taking warranty out on car that age (2017) and confirmed it was honoured at over 500 UK registered garages.

      The next day, 18/1/24 noticed amber engine warning light on dashboard , immediately phoned BMW aftercare team to ask for it to be investigated asap at nearest garage to me. After 15 mins on hold was told only their 5 service centres across the UK can deal with car issues with earliest date for inspection in March ! Said I’m not happy with that given what sales team advised or driving car. Told an amber warning light only advisory so to drive with caution and call back when light goes red.

      I’m not happy to do this, drive the car or with the after care experience (a sign of further stresses to come) so want a refund and to return the car asap.

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    • Housing Association property flooding. https://www.consumeractiongroup.co.uk/topic/438641-housing-association-property-flooding/&do=findComment&comment=5124299
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    • We have finally managed to obtain the transcript of this case.

      The judge's reasoning is very useful and will certainly be helpful in any other cases relating to third-party rights where the customer has contracted with the courier company by using a broker.
      This is generally speaking the problem with using PackLink who are domiciled in Spain and very conveniently out of reach of the British justice system.

      Frankly I don't think that is any accident.

      One of the points that the judge made was that the customers contract with the broker specifically refers to the courier – and it is clear that the courier knows that they are acting for a third party. There is no need to name the third party. They just have to be recognisably part of a class of person – such as a sender or a recipient of the parcel.

      Please note that a recent case against UPS failed on exactly the same issue with the judge held that the Contracts (Rights of Third Parties) Act 1999 did not apply.

      We will be getting that transcript very soon. We will look at it and we will understand how the judge made such catastrophic mistakes. It was a very poor judgement.
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      This is good ethical practice.

      It would be very nice if the parcel delivery companies – including EVRi – practised this kind of thing as well.

       

      OT APPROVED, 365MC637, FAROOQ, EVRi, 12.07.23 (BRENT) - J v4.pdf
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Bank of Scotland - how do I get off SVR


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Long time lurker on this site.

Now need some advice please.

 

Partner has an interest only mortgage with Bank of Scotland and is on standard variable rate of 4.95%.

Have about 10 years left with only plan to repay being downsizing.

 

Have asked for lower rate but have been advised to reapply.

We will not meet the new borrowing requirements due to age and self employed status.

 

I thought that the FCA had instructed banks/building societies not to apply affordability checks when there is no additional borrowing?

 

She/we have never missed a payment and have in fact been paying £200/month extra in order to reduce the capital, so affordability should not be an issue.

 

Any advice on how to get them to reconsider would be appreciated.

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Find the quotation that you are referring to regarding the FCA's guidelines.

 

It would be helpful if you would post a link to it here.

 

Print out the quote and send it to the bank and tell them that if they will not follow the FCA guidance then you will begin a complaint to the financial ombudsman service on the basis that they are treating you unfairly.

 

Tell them that if the ombudsman finds in your favour, then you will insist that any remortgaging is backdated to today's date

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Have you tried applying directly on the Halifax website for a cheaper product? I was advised to do this by an independent financial adviser. Halifax itself never advised me to do this.

 

I am losing my home of ten years because Halifax are forcing me to sell up, having kept me on its SVR since my initial fixed rate ended. This means that while the rest of the country is paying next to no interest (given the low Bank of England interest rate) I, like you, have been paying 4%, making my monthly mortgage payments over £1,200 a month, which I've not been able to meet for several months.

 

The point is that I asked Halifax over a number of years to help but its in-branch advisers said my income did not warrant a new product - even though a cheaper product would have meant I could have afforded the payments.

 

In desperation I contacted an independent financial adviser who told me to just go to Halifax's website and apply for a different product, something Halifax's advisers never ever advised me. I did this, applied for a product with a lower rate and got it. Except by then it was too late. I could not risk taking on a new product that came with £5k early repayment charges in the first year.

 

I took my complaint (why Halifax did not move me to an affordable rate earlier despite my pleas) to the FCA who sickeningly sided with Halifax. My house is now on the market but it has not sold and Halifax is - even more sickeningly - threatening litigation because of the £8k arrears. Even more sickening is that news like this about Halifax is still coming out, that HBOS bosses knew about £1billion fraud that left customers bankrupt - 3rd April in the Sun newspaper.

 

I will never ever trust another bank or get another mortgage.

 

All the best to you.

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Find the quotation that you are referring to regarding the FCA's guidelines.

 

It would be helpful if you would post a link to it here.

 

Thanks BankFodder.

 

 

The relevant FCA Guidance seems be

MCOB 11.8.1E which states ‘where a customer is unable to: (1) enter into a new regulated mortgage contract or home purchase plan or vary the terms of an existing regulated mortgage contract or home purchase plan with the existing mortgage lender or home purchase provider; or (2) enter into a new regulated mortgage contract or home purchase plan with a new mortgage lender or home purchase provider; the existing mortgage lender or home purchase provider should not (for example, by offering less favourable interest rates or other terms) take advantage of the customer's situation or treat the customer any less favourably than it would treat other customers with similar characteristics. To do so may be relied on as tending to show contravention of Principle 6 (Customers' interests).

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