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About nav110

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  1. the name is not so important at the mo, will be revealed in due course. Looking at the check list and the KFI sheets which the agent passed onto the underwriters all the info seems ok apart from the loan amount which was £134K. In the check list it states outgoing as £900 but within the underwriting sheet it is £420. From my conclusion both the agent and underwriters have both manipulated the process, agent- requesting higher figure underwriter- lessened outgoing figure. does any1 have any experience or thoughts, unsure how to proceed, pls help guys
  2. i rather not give any names until i have all the facts and gain a clear understanding. What i am looking for is information regarding the underwriting process, the rules and regs that govern it and implication of incorrect underwriting on the mortgage.
  3. Hi everyone, Im looking for some help and advice. I have had issues with my sub-prime mortgage and was fortunate to stumble upon the underwriting sheet for my re-mortgage after a DSAR request. On inspection it has come to light their are a couple of discrepancies from the information that was provided to the broker and that which is contained in the underwriting sheet. For example, 1- my outgoings were stated as £420 even when outgoings in loan application were stated to be much higher. Just my mortgage payments at the time were £650. 2- I requested £
  4. Hi bhall, can you please explain the following in simple English, my heads spinning..
  5. Finally received the much anticipated letter from kensington, 6 months late thou.. Anyways, kensington confirmed mortgage to be securistised but will not disclose any further information on the subject as the information is irrelevant to me They say: We may sell or transfer our rights and obligations under your mortgage to anyone at any time. If we do sell or transfer your rights and obligations will remain exactly the same, save that reference to the variable rate will be to the rate of interest determined from time to time by the transferee. They also sent me the deeds
  6. Thanks wp3. You are right alot needs to be researched as we common folks are ignorant of the web we are in. I will be sending my letter to obtain the info they didnt send me with my original SAR. Anything in particular i should ask for?
  7. Hi WP3, all the best for the new year and stay strong. Your idea is good as it will bring all the releveant information together making it easier for newbies. The research you and many others have done will be easy on hand rather than to be hidden away in many pages. I wanted to know the process on how to set aside the suspended possession order and how blemains conduct in obtaining the otder was incorrect. Ive done a sar but they sent basic info. I have requested for the commission sheet which they are refusing to send and say its not considered as 'personal data' under the SAR req
  8. WP3 are you still around? wanted to know if you came to a resoloution with your adventures with blemain. Im currently in process of sending letters before action and wanted a few pointers, so if your still around would appreciate a little help.
  9. Hi again bhall, I understand your missing my point and cant see the elephant in the room, let me explain with an analogy.. (a) Driving a car is legal (b) Driving a car DANGEROUSLY is illegal © Driving a car WITHOUT DUE CARE AND ATTENTION will also get one in trouble. I hope you understand the differences of the matter and the concerns I bring. I would like to raise further points to clarify the matter: (1) you seem to have generalised securitisation with all that which is connected to fractional reserve banking where as my concerns are specifically with mortgage secur
  10. We shouldn’t turn a blind eye to the tyranny and oppression, as by being contempt to what’s going on is acknowledging their actions as they continue to oppress borrowers. Check out the panorama's Britains Hiddien Housing Crisis http://www.bbc.co.uk/programmes/b01pc1qbas this is just the tip of the iceberg. Breach of MCOB is a secondary matter which i think are useless provisions as they only regulate mortgages from 31 Oct 2004 onwards and not prior to the date even when it was identified prior to the date the misconduct of lenders. So unregulated mortgages are left out with t
  11. Lets start of by saying KML have not made it easy as their whole lending/setup and commitments are very complex. It is difficult to distinguish if any real commitment/understanding remains between KML and borrowers. Its a one way system with no real intent to provided a positive solution for borrowers but rather to penalise struggling borrowers to further put them in arrears whilst they profit from their sales and earn interest for themselves/investors. Let me break it down to demonstrate how the machine is working (myunderstanding) 1- Joe is looking for a mortgage and through a brok
  12. Ive seen arguments made regards to "legal or equitable assighnment" and if equitable assighnment for a charge is correct. To be honest this is way beyond me. What i'd like to know is, should the terms include "legal or equitable assighnment" within the mortgage conditions or is that at the lenders discreation? As i now understand, the products which IFA advise on are created by the lender for the IFA to sell. These products are created by the lender for the purposes of securitisation (in kensington's case). The application (borrowers details and product) is submitted to lender
  13. Thanks bhall for the informative post. Would like further clarification as in my T&C's is it states "kensington may transfer" and the word assign not used. The context of the statement gives impression for the sale of the mortgage to a third party whom then assume all responsibility and as a borrower my dealings would be with the new party whom the mortgage has been transfered to. From my understanding the securitisation process starts from the initial process of application. During underwriting applicable product are matched for the borrowers. These products are manufactured for
  14. Conniff why do i get the feeling you want to take me around in circles. I can only conclude you repeating for my understanding of securitisation without taking pervious post into consideration is to derail my query. Apologies if this is not the case but i will quench your need for asking with the following link http://en.wikipedia.org/wiki/Securitization. Back to my question in contract law is lender exempt from disclosing securitisation?
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