HP Mum
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HP Mum last won the day on December 5 2016
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I just checked. I sent them a very simple email requesting specific docs. I didn't label my request as a SAR. But - they replied labelling my request for docs as a SAR. There were a few emails between us asking/ answering questions. They then sent a link to a more full response to my request for docs - probably anticipating a claim given they knew they'd not acted correctly. They did mention they considered that a final response. But I hadn't actually made a formal complaint per se. As said before - I got swept down a different path and haven't considered reverting to this (making formal complaint/ claim) until now I think there's a bit of splitting hairs by the broker. They treated my simple request for some docs as if it was a complaint - because they knew my gentle request was a precursor to a complaint. But I did not label a letter as formal complaint. So would I be able to revert to new correspondence entitled 'formal complaint' ?
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If I do contact the fos - what would I reasonably be hoping for as a result of some kind of action - v- broker? My friend broker originally mentioned full restitution: for them to put me back to place I was in before they gave 'bad' advice with 'dodgy' paperwork. Does that sound feasible? Or idealistic? The property was repossessed. But remains unsold after all these years. So I guess restitution is possible? (I mean if I could get it back and get a btl now, I would !) Altho... maybe there's better solutions given level of interest rates now compared to 2.49% in 16.
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That's a good point. Is one tied in to one broker? Probably not. But I did get a specific email from this particular broker telling me not to use any other broker. Assume they all try the same lenders? This broker wanted the % fee. He gave some "explanations" - about 'hard searches' affecting credit score, that lenders would be confused if different brokers being used for same client... So I refrained from using other brokers
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Aesmith - wanted a btl was placed with a bridge. The broker did no affordability check, no fact find, no income check, they filled in all the forms - just sent the signature page to sign. The question was/ is - with a high-paying short-term tenant in situ and a history of other high rentals should they have been able to secure a replacement btl? I'd had a btl for donkeys. The valuations were way off for the bridge. As was discovered down the line. HB - all sorts of issues have been in court; the main one re repo remains in court, no resolution. They all stem really from bad advice by broker.
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I need to keep this simple. To keep stress levels down. I'm still embroiled in other legal stuff. I seem to remember the friend broker saying I shouldnt have to issue a court claim - he thought I could lodge a claim to the Ombudsman? Is that a possible route? Without going down a possible 2y legal claim path
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So - do you mean 6y from when they organised the loan? Because that's more than 7y. Or is it 6y from when I was advised what they'd (most likely) done wrong? Because that's under 6y Or is it 3y from when I was advised what they'd (most likely) done wrong? Because the 3y expired start 22. I seriously wasn't happy but I didn't know they'd done anything seriously wrong/ unethical until a friend - who is a broker - had a look at all the papers in March 19. He then said I should send them a SAR. Which I did. Which is when/where they admitted some of the things they did wrong. If I can "do something" - what actually do I do? What would a "claim" to the FOS look like?
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"broker = spf" Assume regulated by FCA? I've been told that "on an advised basis" means they are liable. But I'm not a broker or expert. I think it means they are professional brokers and under their professional hat they advised a client - but didn't follow protocol I complained to broker. They admitted they didn't do due diligence. But said it was up to me to follow up with the authorities. I was inundated with legal stuff for last 5y. And wasn't sure about how or if I could pursue them or if that may have affected my legal path. Im just re-looking at the injustice of it all. And wondering if I can pursue them now - within the 6y of being told what they did was wrong
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This is the 1st post I made about the broker in March 19: Borrower sends in a SAR to broker. * Turns out the broker did not act correctly. * They did no fact find; * have no Suitability letter; * they did not fill out an income and affordability form, * they filled in the application form on behalf of the borrower * they just emailed the signature page for borrower to sign * so borrower had no sight of what the application form contained; * the broker did the same for the Terms * just sent the signature page for borrower to sign. * The broker did all this on an "Advised" basis.
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Also - is it possible to launch simultaneous claims -v- different 3rd parties? I mean I'm a) asking about can I make a claim against the broker who should never have placed me with the shark. But b) can I also simultaneously make a claim against a lawyer for negligence in the litigation process v the shark ? (By claim -v- lawyer I really mean that I intend to complain to the SRA about breach of their principles and ask for their help in getting compensation for him totally screwing up my case)
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Hi Am just re-visiting a point I raised 5y ago (mentioned in this thread on page 4) - at the beginning of what has become the most convoluted litigation since Dicken's Jarndyce & Jarndyce. I have been veritably screwed by everyone in the last 5y. But I haven't given up trying to get restitution where I legally can. Today's point refers to the broker who was asked to find a lender for my property in spring 16. The broker found a high street bank offering 2.49%/annual interest on a BTL loan in May 16. But the bank then raised issues about the property valuation and my affordability. Despite having a tenant in situ (for 4 months) paying enough rent to cover the annual loan. The broker then found a different lender (aka shark) - which organized a different valuer on their panel who valued it much higher than the high street bank - and which was offering 1%/ month interest on a bridge loan in Nov 16. If the broker alleged affordability issues at 2.49% - why did they place me with a lender at 12% ? Yes I know I signed the docs and went ahead - but there seemed to be mitigating circumstances compelling me to sign. The prime one being that my lender at the time was threatening repossession. Of course, fast forward 2y and the new bridge lender repossessed anyway. Whilst in the meantime the broker had taken 1.5% fee for the bridge rather than 1% fee for the BTL. And when the property was marketed post-repo it was put up for sale at the lower BTL lender valuation. In other words I was set up to fail. My main question regarding this is - Can I re-visit making a claim again the broker? It's 5y since I discovered the broker never did a fact find or suitability check. So it's under the SB 6y. I sent a SAR in Mar 19 and they admitted their mistakes - but then tried to say they consider the matter closed unless I want to take it to LO. I was super stressed with so much legal stuff going on over the years that I just pushed to one side any thought of making a challenge against the broker via the LO or FCA. Fast forward another 5y and the property remains unsold. I'm still embroiled in legal battles with the shark lender (about how/why it's not sold) and heading to trial. But as its recently been adjourned I am wondering if now is the time to tackle the broker again? Try to get some kind of restitution? The broker was a renowned professional (spf) and with all their resources should have been able to source another BTL at a low % rate. Any thoughts on this? Or dead duck?
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