I didn't take it that you were pointing at me FL, I know I made a mistake in posting on this thread and I fully understand what you are trying to achieve - my reference to how long I'd been on cag was purely referring to your comment about newbies I highlighted in blue. I'm no newbie and it still happened. I was pointing out, in an attempt to be helpful to your cause that even people with long histories can fall in the trap and there is no way you guys on the site team can regulate for it nothing more - I should have known better. I haven't been on the site team and I have plenty of courage believe me, but the reason for being smarterchick is because I know I have certain trolls watching my other name and I am in court soon, I have to be extremely careful...nothing to do with courage EDIT . Anyway, I think I've screwed up this thread enough as it is so I'll abandon it, sorry to have been a nuisance..

I appreciate what you are saying Freakyleaky, but I've been on this forum a year longer than you and got lots of green blobby's too ....I still made the mistake...I admit to 'should have known better', but the problem is that we don't read all the posts before posting TBH, I saw the headline, thought it was a general thread like the cca ones and posted - and got my just rewards for doing so once it was realised what I'd done . It's just one of those things you can't plan for or pre-account for...you guys are not to know what name the heading will be of a thread, you just hope people will use their common-sense and realise, but even hardend Caggers like me can fall foul. I even did it with my own thread linked - I called it " Interest rate calculator " - that too was a mistake, we all make them sometimes. With all these people coming on here daily, you can't possibly control all of it. You guys do a great job - believe me I know. Smarterchick

Well, well, well, Kestrel Loans No1 Limited...happy reading...an education in itself for Swift Securitisation fans...I feel a little Deja-Vu about all this investigating Kestrel Loans No1 Ltd..debenture.pdf

How would we know if we have an Option ARMS loan or mtg JC ? - forgive my blonde moment, but I can't quite follow where this fits in to what we were talking about - I'm still in capital letters, can't quite get the joined up variety working in the brain cells?

Thanks JC - shocking isn't it? - how does Joe public ever know about all of this? This is shameful...most people I talk to about these securitisations think I'm from another planet and on some skive to get out of paying my mortgage - a rogue debtor, interested though they seem in my knowledge, you still get the looks.. Anyway, that said and thank you for posting this, can/has anyone taken a look over the Singer and Friendlander docs posted above in Post 74 and have any comments?

I hope they correct the odd spelling mistake EIE cos they'll think they all came from the same source :D wouldn't want that would we? reminds me of when I copied homework from a friend, bit like cut and pasting but in long hand...got so carried away, missed the 'pto' at the bottom of her page and it landed mid page on mine - teacher put me in detention ! SC

Hey, I apologise too..got confused with the thread title and thought it was a general thread, should have read it all...apologies...I did start my own thread though before hand and linked it, so I'll leave the description of being a 'Pillock' for the time being.. good luck stubs, thanks FL..

This thread is headed "Unenforceable agreements under the Consumer Credit Act" - that's what I posted about along with a question over interest on the agreement and I put a link to my thread as requested ..so I'm a little confused freakyleaky sir

Is that meant for me Gyzmo?

I wonder if someone could take a look over my agreement for me and tell me if the interest is worked out correctly and whether it is felt this is unenforceable as it stands? Thanks, I just can't work out the interest calculations as per agreement. This is my thread: http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/199658-interest-rate-calculator.html

I wonder if someone with knowledge of interest rates and loan agreement calculators could look at the attached agreement and tell me if the rates are worked out correctly please? To get the monthly payment they state of £721.95 @ 13.44% the loan total works out at £55778 in my calculations, but the loan was actually £64460. Could someone check this over for me and let me know where I might have gone wrong.. Anyone any opinions on it's enforceablitly too? Thank you SC Loan Agreement.pdf

HI SS, This might sound daft as we all know now that the High Streets securitise too, but does this also apply to these High Street lenders with regards to interest rate policies? I ask as most sub-prime lenders keep their rates at extortionate levels, but the High St's generally keep them lower and in line with BOE or LIBOR rates don't they?

If, like some, you have had repossession procedings before and managed to fight the situation off - either through refinancing, or paying off arrears from another source then legal costs would have been added to your mortgage wouldn't they? - I did. Now surely, if those legal charges were brought about by a company who had no right to repo in the first place (as a result of securitisation for example ) then one would imagine one could claim those charges + interest back? This is a little like the bank charges issues where charges could also cause further arrears or default charges too...think about it..

I think you'll find people want to be absolutely sure before posting greatburdon. There's a number of issues in what you have written such as, and in no particular order of priority, How you managed to arrange the higher mtg on self certified than you could afford - were you encouraged by a broker to increase your declared earnings or did you pick a random 'estimate' of what you might earn? - Brokers have a lot to answer for here, I know people who's broker upped loans by another 10k, although there are legal implications in declaring now what happened as it could be deemed as fraud so be careful. I'm not qualified to know or advise of what happens when a motgage provider does not register the charge, but a quick call to both the LR and a solicitor will provide you with that answer. It's not that issue, but what might follow, for example could they stick a Caution on the property as having a beneficial interest? Im not sure, but those visiting this thread will prefer to give the right answers rather than send you up a dark ally. Be patient, even I have had a pm telling me about your thread so it's spreading ... The support will come, worry not..

Well that makes sense uneverdid, Eurosail do provide the funding, but this twit didn't realise what he said did he? The funds come from the securitisation, he's talking like it comes from barclays or a.n.other bank..As for them charging 1% more just because you rent your property I think that's extortionate...I've never come across this proceedure personally in renting but the moral? Charging another 1% is for what exactly?

Think I'll skip that walk I was planning along the Embankment today then As I said, these documents are not like the ones sced or others have found from searching the spvs 395 forms where all the terminology is 'securitisation lingo'. This is from the finance company themselves and the debenture they have lodged at Companies Hse with their s.395's. I just want to know EXACTLY how and through whom they securitise and Kestrel is the first documented sight I've seen to date which links them to spv's. I just wondered if there's anyone who can read these better than I, a poor simple maiden from Essex....

..and, whilst I'm on a bit of a roll, I thought I'd take a peek at another old friend of mine Swift Advances and what did I find in their cupboard? This is unlike the Abbey one in so far as it is from a debenture on the finance company itself, but there is reference to Kestrel under the spv area, but to date Swift have always assured one and all their accounts remain on balance sheet and are not, and never have been securitised. Can someone also take a peek and tell me if you think the same please? Thank ye kind ladies & gents Swift 395 Caylon SA. pdf.pdf Swift 395 Singer Freidlander 2.pdf Swift 395 Singer Freidlander.pdf

Which explains why Holmes Financing No1, 2,3,4, & 5 Ltd etc. all get put into voluntary liquidation at some point down the line, I think they are up to No 10 just now and it seems as you say, that they are picking up the old ones along the way. Weird business if you ask me.

Thanks SS, I was hoping you'd pop in.. I know you covered this generally before, but I'm still a bit green as to where (or if I need to) I find exactly where my mtg Title number might show as part of this securitisation sale - like a part number of an engine on an invoice for goods supplied. I presume some kind of list is supplied to the SPV or noteholders quantifying the batch of mtgs in the prospectus, but would that need to go to Companies House and is that where I can find them do you think?

http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/189177-smarterchick-securitisations.html Link above in roony's post not connecting..

This is the securitisation s.395 form from Holmes Financing No.9 Ltd used by Abbey National to securitise their mortgages and possibly the one used to snare my own mortgage product, the section below is the Companies House form which is the final page of the attachment. Can SS or someone look at this for me and tell me if this tells us what we need to know about the securitisation of their mortgages in relation to repossession should I decide to use this as evidence that abbey don't own my mtg and like Scedminc on the Preferred thread put me in a position to question Abbeys right to repo? I would also like to know what the next step Abbey could take to counter this move? Would they buy back? - if so, would they not have issued proceedings when they didn't own the mtg and therefore put me under stress, strain and wrongful litigation and what might my recourse be? Holmes Financing No 9 Ltd form 395.pdf CERTIFICATE OF THE REGISTRATION OF A MORTGAGE OR CHARGE Pursuant to section 401(2) of the Companies Act 1985 COMPANY No. 05115696 THE REGISTRAR OF COMPANIES FOR ENGLAND AND WALES HEREBY CERTIFIES THAT A NINTH ISSUER DEED OF CHARGE DATED THE 8th DECEMBER 2005 AND CREATED BY HOLMES FINANCING (NO.9) PLC FOR SECURING ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE BANK OF NEW YORK, LONDON BRANCH (FOR ITSELF AND ON BEHALF OF THE OTHER NINTH ISSUER SECURED CREDITORS) OR ANY OF THE NINTH ISSUER SECURED CREDITORS ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE WAS REGISTERED PURSUANT TO CHAPTER 1 PART XII OF THE COMPANIES ACT 1985 ON THE 20th DECEMBER 2005. GIVEN AT COMPANIES HOUSE, CARDIFF THE 22nd DECEMBER 2005.

As a matter of interest, where do 'home improvements' sit in relation to CCA category when applying or asking for additional funding on a mtg?

My understanding from a JonCris quote which I latched on to as I thought it quite succinct was that a claimant has to have suffered a loss to enable them to bring a claim for compensation such as repossession. Now if the company standing before the court claiming to be the Claimant has been paid in full by an SPV for your mortgage then they have suffered no loss and therefore are in no position to make this claim. That's not to say the spv can't claim, but then the spv are not in court are they? So what would a Judge make of that? Now I have absolutely NO legal training and I haven't a clue from giving advice on any of this, so I am not the one to be telling anyone anything and you should take no notice of what I say from a legal perspective. I'm just telling you how I read this, nothing else so perhaps someone with more knowledge about these things can help you. I just know that if and when I find out exactly who my spv is and I end up in court defending a repo action I might, just might use this as a last resort if I were to be losing my home . SC

I think the important thing here EIE is that people understand the process of what might happen if these banks decide what is being said has some merit. What happens if you go into court and just say at a repo hearing " Your honour, I don't believe the claimant has the right to be here as they have suffered no loss given that they have been paid in full by the spv" What in fact, can the bank do? Okay, they buy the mortgage back from the spv, they do this all the time I gather when you remortgage so it's not beyond the realms of possibility they could do that, BUT....that means they started repo action when they shouldn't have because they didn't have the right, as has happened to me 3 times over the years, so one can counterclaim if they do buy the mtg back as the amounts they will be claiming will be incorrect (legal costs + interest etc, etc.) and they'd be in trouble for doing so I'd guess.? So, it's gets messy, but it would be nice to know what to expect as a kind of 'flow-chart' of events so we could prepare for them. That's probably why things have gone a bit quiet, the arguments have been laid out by supersleuth, ravaged by Suetonius, digested by many and are still being considered and waiting until someone gets in front of a judge to test it...what more to do then than keep exploring, keep arguing (nicely ) and debating the for's and againsts so we can be prepared.. SC PS...sorry scedminc, I knew what you meant, just pulling a leg here and there!