Baz1994
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Many thanks dodgeball. Would appreciate your feedback. Just another thought, should there not be two separate agreements with their own prescribed terms. One for the actual loan and another for the PPI, Fees and MIF (muLtiple agreements under section 18 CCA 1974) ? And how do they calculate the APR figure of 20.1% ?
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OK dx cheers and will do Thanks again dx Legal Charge, Agreement and Insurance sheet now attached. Thanks again
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OK dodgeball thanks but cannot submit attachments at the moment - don't know why ? Is there a limit as seems to be restricting me. I am sure I posted up details on another issue including edited Legal Charge details. Thanks dx It's just knowing what to put to them in my defence and backed by relevant evidence / law. It just doesn't seem right when looking at the grand scheme of things.
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A belated cheers Dogeball, missed your post. Recently received a letter from FOS regarding my PPI claim with Welcome and they are reconsidering my complaint due to the court ruling of Plevin vs Paragon. Not holding out much hope though as I had previously tried to obtain Underwriting sheets but could only prove hidden commissions / brokerage between broker and lender.
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I can assure you they are awful. Had my OH in tears on a few occasions with their constant abuse. I have been compiling as much evidence in the last year or so including a log of how many times we were called, sometimes three times a day. I can tell you it was horrendous for us both. I know we are not the only one's as I have seen other posts. And yes it was our choice at the end of the day but we were desperate at the time. When we approached them for assistance they said no can do and we will repossess your home etc. So you can understand my determination to see this one through but I want to compose as much details as possible, hence my request for some assistance. If only I had found this marvellous site earlier as it could have saved us a lot of worry and stress. But I am glad to say things are looking up now
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So do I citizenB They are crooks as far as we are concerned and still getting harassment from them even though we have submitted a letter in dispute regarding an arrears amount. Constant phone calls even though we requested contact only in writing. Totalling ignoring our requests and evidence of said amount.
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Lol and many thanks Citizen. It's all a bit of a mess but something doesn't add up with this one and I am determined to try and find out. It's been a complete nightmare and a lot of worrying and stress for us both.
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Thanks again Ironic and I will just make a few calls either tomorrow or Monday to find out. Will keep forum posted of any developments.
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Thanks dx Yes I am trying to draft up a Formal Complaint and contemplating to include MIF. I am afraid it was a third charge as we were in dire straits at the time Therefore I am looking at validity of agreement / perscribed terms including incorrect APR, lack of figures including total interest payable, no mention of admin fees / charges and breach of consumer rights regarding cooling off period. Then I have lack of notice of arrears and presentation details and no annual statements for three years. This also includes variation of amount of credit figures on statements in which they put down to a IT hitch in system.
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OK thanks Ironic and will try and locate relevant T & C's. It just worries me that third charge company have lied to us and in which I have written and recorded evidence. So therefore how can we be in breach of contract due to our nievity ?
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I have also come across this Insurance sheet amongst my Subject Access Request details. There are 3 policy numbers mentioned. I contacted insurance policy administrators and Underwriters a while back, who confirmed that they could not find any details under the reference? Why are there policy numbers quoted for the MIF and Acceptance Fee ? Why do they state 181 months and not 180 months ? Fees and MIF start 17/11/03 and end 18/11/03 ? Thanks again No worries Citizen your help is always appreciated. Yes I did see that hence why I was asking as I was a bit confused. So on secured loans do you get any cooling off period before signature i.e. after proposal details sent ? Just located the original Welcome Secured Loan booklet - It states that on Secured Loans you get two cooling off periods. When you apply for loan we give you a copy of the agreement and you have 7 days to consider it blah blah. Welcome do not have a right to contact you during this period. After 7 days we send you a copy of the agreement to sign. You then have another 7 days to consider it during which time Welcome are not allowed to contact you. Now I have evidence that two phone calls / messages were made by Welcome to us on the 7th & 13th November 2003 ? Well I have also read a telephone conversation transcript supposedly from the broker with my OH stating the same. What's also confusing is they talk as if they are Welcome and not the broker i.e. "Well what we do is send you copies of the quote etc..............you would have to sign for me and send back................we are different as we do not need permission from your mortgage lender to add a charge on your property" ......and if we signed on the 10th November and returned agreement, should funds be sent on the 17th or 18th ? I have checked Insurance sheet attached. When you have a moment kindly have a look at dates and see what you think. Cheers p.s. Sorry not letting me post attachment. Will try later.
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Hi dx and thanks for your reply. I have attached edited copies of agreement and legal charge. No T & C's submitted and Agreement states Secured Personal Loan. Regulated Agreement - I requested copy of completed item with customer number date of agreement but they could not provide it. Legal Charge - Again not dated or customer number entered and again could not provide it. LR has two dates for charge: 28.11.03 in brackets and Registered charge 14.11.03. Apologies for silly question but why are there two dates ? Did I calculate APR correctly as they state 20.10% ? Also regarding the Agreement, is date of signature different to date of agreement ? Only date of signatures entered as 10th Nov 2003. Now re the cooling off period is it 7 days from when they sent out proposal agreement or after signature ? What concerns me is that they were not supposed to have any contact during this period and they have confirmed two separate telephone calls on the 7th & 13th November 2003. Sorry for all these questions but I would appreciate some assistance for clarity as I want to submit a concise further complaint. I already have two others in which are with FOS / Ombudsman regarding false accounting on statements and PPI mis-sale. As previously mentioned I did not request any help from Welcome but out of the blue they froze our interest in which makes me think there are other issues and also keep pestering us with reduced offers. So again if there are any Welcome experts on here please feel free to either PM or submit any further comments. I have various other issues regarding lack of statements and Notice of Sums in Arrears since Oct 2008. Thanks so much as always appreciated but I am determined to not give up with this lot. Sorry any takers thanks
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Thanks again dx but no default date at all with Experian ?? I will check another Credit report. Another thing, the DCA failed to supply agreement but cashed my £1 fee and deducted it from my balance outstanding !
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Thanks for your reply Ironic. Well that's interesting to know as my third charge company said the opposite Said their loans were different (they certainly were) and they would not have to notify anyone else. Have it in writing. I have an ongoing complaint with them and should I add this to it. Should I ask my original lender / first charge what their stance is on further charges ?
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Thanks dx so just ignore letters ? Where can I find the default date ? Checked Experian but only states DCA and effective date of card ?
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Sent DCA letter under section 77 Could not provide copy of agreement within 12 days (over 2 months now still no details) Stopped making payments. Receiving letters once a week now asking me to contact them to discuss payment arrears. Checked Credit Files and DCA has registered last two payments as default. Is this correct ? Do I need to respond with another letter ?
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Further to the above I cannot get to their APR20.1% figure stated on agreement. £232.74 x 180 payments = £41,893.20 Total Loan Amount including fees/ppi/MIF = £15,697.43 £41,893.20 / £15,697.43 = 2.669 X 100 = 266.90% 266.90% / 15 years = APR 17.793% Is the above correct or have I missed something thanks ? Sorry for continued posts for requests but I am currently scrutinising the agreement before submitting another complaint. No date of agreement under Welcome staff signature Date of our signature been altered States first payment to be taken one month after agreement date (10/11/03) and same date thereafter - First was taken 28/11/03 then 1/12/03 ? No customer number on agreement (blank) No original Terms of Credit, copy eventually supplied different issue / date. No mention of fees / charges on agreement. Legal Charge Details Our Signatures & witness details but Date of Charge and Customer number missing again . The more I look into this the more I am becoming more suspicious. Signed 10th November, 2003 bump anyone thanks
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Is it 7 days after signature ? Where should this be stated as can only see on agreement by signature 'customer should have been given copy 7 days ago' ? And if so can the charge registered date be before 7 days is up ? Thank-you for looking
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Black Horse Secured Loan / 2nd Mortgage arrears dispute FOS complaint
Baz1994 replied to Baz1994's topic in Black Horse
For any mortgage experts on here, can someone kindly advise do you have to notify or have consent from the original mortgage lender if considering a third charge on your property ? And if so will the second charge / mortgage have to be notified ? Or is this all done by the Land Registry ? Thanks for looking -
Hi Ironic, Just a quick question if you don't mind me asking, did you have to notify the original mortgage lender and second charge company about the third charge or did they contact them direct ? In my circumstance the third charge advised that they did not have to notify anyone as that was the advantage of their loans. Or can anyone else kindly advise if this is the case. Thank-you
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Cheers dx So should Welcome be stating the 20.10% figure on statements and not 16.20% ? And what about the amount of credit provided figure on statements. Should it be the Total Loan amount including acceptance fee plus MIF and PPI or just the cash advance figure ? I have had three different amounts stated on yearly statements in which have been provided ? Thanks for any further help and sorry for if questions sound silly but just need some clarity before submitting a further complaint.
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Further to previous posts can someone confirm if the amount of credit provided stated on statements should reflect what is stated on regulated agreement ? Should it state the total amount of loan (including fees & ppi) or purely the actual loan credit amount only ? I also see that the agreement states APR 20.1% and Rate of Interest 1.35% a month, but statement quotes Annual Interest Rate of 16.20% only (12 x 1.35) - Is that correct ? Thank-you for looking.
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Thanks dx Looks like the usual generic fob off letter when reading it again. Anyway I just called Lloyds PPI (don't usually as always correspond in writing) as I was annoyed with their brief response. Well I wish I had recorded it as the person I spoke to did not have a clue. I asked for confirmation of receipt of questionnaire and supporting docs including statement details. They said all received so I asked why my claim had been rejected in which they responded that no insurance was added to the account ? I then asked that they look at two random statements and confirm certain amounts added and description. They replied one amount for £5.72 and another for £13.31 in respect of cardholder protection plan ? I said thank-you and that I will be responding in writing.....and goodbye !
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I originally had a SW Mastercard account opened in December 1997 in which Cardholder Protection Plan was automatically added. The account was closed and paid up in April 2001 due to the merger of Scottish Widows and Lloyds TSB. I previously sent Lloyds a SAR and CCA request in which they responded that they had no details for the account. I located various statements and the original uncompleted postal application form for PPI. Submitted PPI mis-sale complaint 18/10/15 with completed questionnaire including statements, insurance details and other documentation evidence. Today I received the following rejection letter with no explanation apart from that they have checked their records and does not show that PPI was paid on this account ???? Is this the usual Lloyds response ? How can they refer to records in which they originally stated they did not have as per my previous SAR ? Thank-you for any advice what to do next.
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OK so everything was done by the claims company hence their request for payment of fees. If debt wasn't sold to DCA then thats why it has been offset. How long ago was the offer upheld by the ombudsman ? And were all aware of his financial circumstances and if he has any priority debts ? And note post # 5 by dx
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