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Parcel delivery insurance is prohibited under section 57 – Consumer Rights Act – Read about It Here and in The Times.

karennol

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Everything posted by karennol

  1. karennol
    Hi Guys, I have new problems! The house has been repossessed. We owe about £114K so far, no doubt there will be some more fees. It was put on the market in January for £74950, in Feb they accepted an offer of £75K. It was on the market for less than 5 weeks. Does that suggest that it was priced too low? I think it might. So we are looking at a shortfall of about £40K at least. How will they recover this? We have our own home with about £10K equity and another BTL with about £20K. We have other unsecured debts of about £20K and we owe family about £30K. Will the lender try to make us bankrupt? If they do will the debts to our family be considered in the divvying up of our assets? I want to avoid bankruptcy if at all possible and I am not sure its fair considering we owed £700 in arrears and that is what has started all of this! Any help will be appreciated! Thanks Karen
  2. karennol
    Thanks again for your replies! Yes, it is a nightmare! The reciever has quoted their final costs as about £2.5K. Which doesn't seem that much except that they did NOTHING for that money. The lender has replied to my second complaint basically saying tough! And advised that I have right to go to the FOS. I have asked for a full breakdown of the fees on the mortgage. These were the main sticking point in their refusing to get rid of the reciever. They still haven't acknowledged that they have taken posession of the property! Its been 2 weeks! Karen
  3. karennol
    The reciever is out of the picture now. Its a reposession now. The lender has possession and will sell the house. There is virtually no advice on recievers online, the CAB were no good or Stepchange. Neither the FSO or the FCA could help. I spoke to several insolvency experts, nothing. Even the few solicitors I spoke to couldn't help. I have felt very alone with this. None of that matters now as the reciever has stood down. I just need to know how to proceed now they have possession. If anyone could please point me in the right direction? Karen
  4. karennol
    Anyone?
  5. karennol
    What can I do to sort this out. Can I apply to the court to sell the house myself?
  6. karennol
    With regard to challenging all of the hideous fees applied whilst I have been in arrears....do the same rules apply to buy to lets as resi mortgages?
  7. karennol
    I have just read one of the articles and it looks like the reciever may have ended their appointement because they were acting too much on the lender's instruction. \the article says that the the lender loses the protection conferred by the appointment of a receiver when...."Where the mortgage lender directs the receiver in the conduct of the receivership, for example by issuing instructions as to how the receiver should act, a court will readily find that the receiver has become the agent of the mortgage lender". I had an email which said, " We await a response from the lender to our recommendation, upon receipt that when notice will be served [to the tenant] if recommendation agreed Does this make any difference to my current situation? Thanks Karen
  8. karennol
    Hi Guys, Thanks for merging the threads. I couldn't find the original! Thanks as well for your suggestions. I have written to them to ask them to allow me to sell the property and for a full breakdown of the charges. The charges are for about £5000 on the mortgage through fees etc. I have asked for that information 3 times but not via SAR. I will have a look at the articles after my son is in bed. I am in a bit of a blind panic to be honest. I was surprised that they gave possession to the lender, I didn't fully understand that that was what they were saying when I spoke to them. I have had nothing in writing from the reciever or the lender and this happened on Friday last week. Thanks Karen
  9. karennol
    Hi, it was less than 3 months arrears. They said make a proposal to pay I offered £100 plus the normal payment. They didn't respond and gave it to the reveiver without further discussion. Its a buy to let and its in my terms and conditions they were within their rights to appoint. I tried to get the lender to give me back control but they wouldn't budge. They will try to sell the house now I don't want them to stick it in an auction and leave me a massive shortfall. I am just trying to limit the damage now but don't know what to do for the best.
  10. karennol
    Hi All, I am in a bit of a desperate situation! LPA recievers were appointed by my lender, Oakwood, I had £700 arrears at the time paid it all off within 2 weeks of the appointment they refused to give back control. The reciever has got rid of my tenant and handed the properrty back to the mortgage company. They are planning to sell it. The 'valuation' is about 20k less than the outstanding amount plus charges etc I am looking at at least a 30K shortfall if I am lucky. I don't have it. Needless to say, I am feeling very upset by this. What can I do? The mortgage company has possession. The LPA receiver has added 2.5K to the debt (inc £156 for a SMOKE ALARM!!!!!!). The tenant never paid them any rent whilst they were managing the property so they never paid the mortage. Can I apply to the court to sell the house myself? I don't trust them to maximise the sale. Any help would be truely appreciated! Thanks K
  11. karennol
    I am still hoping for a miracle on this if anyone can help! I have been unable to find a solicitor who can help.
  12. karennol
    Hi Ell-enn, yes the mortgage is more than covered by the rent. My partner and I were unemployed and the property was empty. It needed work and I was still covering the council tax. They knew all of this. I have a job, a tenant and have organised myself now.
  13. karennol
    Thanks so much!!! I will look at that. I rang the FCA yesterday and they told me that the BTL market was completely unregulated and there is nothing they can do. I suppose its worth a try though. The reciever has done an inspection and is coming up with their exit strategy by Friday. If they serve notice on my current tenant, my partner might move in until they are off our backs. I do have a poor payment history but it has never gone to court because I have always paid the arrears. My circumstances have completely changed now and I am in a much better position. They haven't considered this and refused my offer of £70 per month on top of the £215 monthly payment. I even told them that figure was a starting point and if they wouldn't accept it to I could look at more. I do feel I have been unfairly treated.
  14. karennol
    Anybody?
  15. karennol
    Thanks for your reply. I have tenants in the property at the moment so wouldn't get away with that. That was quick thinking on your part, I am glad it worked for you. K
  16. karennol
    Thanks!
  17. karennol
    Hi, thanks for replying...Oakwood Home Loans and yes it is a BTL.
  18. karennol
    Hi All, My property has been handed to an LPA reciever and I am a bit confused as I keep getting conflicting information from the lender and the reciever. They 'took it' last Wed. I still haven't had a written notice from either receiver or lender. The first I knew, I was contacted by my tenant who said someone had been round. The lender said that I had to pay all arears (£725) and 3 months in advance (£645) and fees (£1200) and ALL the charges ever placed on the mortgage (£3k+). They also kindly gave me 5 days to do so or the fees were going up another £800. They originally said that if I paid that, they would take it back. They have since said that if I pay that amount they will 'consider' taking it back. On Friday they said that I didn't need to pay it all in one go but the fees would go up. Today they have said it needs to be a lump sum. I can't pay it. They want 5K by tomorrow or goes up to 6K. They wont accept installments, just a lump sum. I have tried Stepchange, CAB, CLA and one more I can't remeber the name of! None of them have been able to help. I had to explain what an LPA reciever was to Stepchange. I am at a bit of a loss. Any help would be appreciated. Thanks K
  19. karennol
    If they refuse cash....can I use the automated payment line 277 times? Do they get charged by their bank for taking debit card payments?
  20. karennol
    HURRAH!!!! I would have cheered too!
  21. karennol
    I am liking the sound of that!!! I will wait until the outcome of my complaint first though.
  22. karennol
    I will do that! Not in bags either!!! :mad2:
  23. karennol
    Thanks! That upsets me a bit. Can I pay upto the limits in the small coins and then the balance in £1 coins do you think? Again....very petty!! But I refused to pay £24.50 in fees pre Apr and they have upped it to £277.50 with no additional visits just a letter via mail. Not a bad profit for the price of a stamp!!
  24. karennol
    What about it being legal tender?
  25. karennol
    I know its petty! But can I do it? I am currently applealing what I consider incorrect bailiff charges. It is going to the ombudsman this week. If I ultimatley have to pay....can I pay them £277.50 in 1 pence coins? Like I said, its petty! It might make me smile a bit though. Thanks K

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