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About Nihilus

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  1. The company will be required to conduct multiple valuations and cannot accept an offer without evidencing that they've attempted to obtain the best possible price. They will reject unreasonable offers below market value and cannot seek a fast sale. Usually if it's sold below market price, or the lender has had to go to auction, it's due to issues with the property being in serious disrepair (and will have been on the market some time by this stage). Renting it out is an option, they can grant permission for the borrower to rent the property via concession if he has alternative accommodation. This can be done on a temporary basis and does not require a permanent conversion to a BTL mortgage, although they probably wouldn't do this at this stage as the difficulty with payments does not appear to be a temporary issue. £15,000.00 in costs also seems a little steep, I've seen a few cases where fees and costs have gone that high but it is certainly the extreme and not the norm. Usually the only way to accrue charges of that amount is by prolonging action over a multi-year period. It's not a legal requirement, but allowing you to rent the property is a temporary solution and your current situation does not appear to be temporary. Might also be an internal policy. In regard to your potential buyer if he is offering £10,000.00 below market price, and your mortgage provider have already obtained a possession order meaning that solicitors fees and the like have already been incurred, then there's little point in accepting it. In order for them to cancel the eviction you'd also need to be able to evidence that the buyer is still willing and able to go ahead with the sale, which might be a short order between now and Tuesday. CABs advice might be best in this instance, making an application for the eviction to be cancelled at this stage would likely just prolong matters and further reduce any equity in the property.
  2. They aren't obliged to report to CRAs so the new owners may have opted not to, they often won't with unsecured debt. When you say Robinson Way are chasing the debt, what have they sent you? And what have you sent them? If it looks like they're litigating, and they can with a reconstituted agreement, then it's probably because it is (or was) nearing the statute barred point. If you've responded acknowledging the debt this will reset the six year timer. My experience with litigation on unsecured debts is relatively limited, but if they send you anything that advises they are going to proceed with litigation action after a set period then contact them. They are FCA regulated and they won't send a letter before action unless they actually plan on proceeding. If it uses uncertain language like "we will review your account for litigation action", then you could probably ignore it if you really don't want to pay the debt. If this is the language they are using then they're probably just bulking their borrowers and fishing for responses.
  3. That's nice, congrats on getting the fees waived! I love the wording in their letter as well "We admit no fault, but here's all of those fees back." Sounds like they were applying them without actually doing any collections work So this missing payment, have they definitely missed a payment or is it just that you made all the payments under the original contract terms and think the balance should be £0.00? Because if it's just the balance not lining up with what you expect based on the credit agreement then I think they may have answered that question when they reference additional interest. Similarly Skye alluded to this earlier when they mentioned deferred interest, it looks like both companies worded it pretty badly and didn't really explain anything very well but the balance took longer to clear than stated in the credit agreement due to interest incurred on your arrears. This would have either slowed down the rate of capital reduction or been added to your default balance, depending on how Black Horse applied the interest arrears. If I've misunderstood and they just missed a payment and it isn't showing on your account, do you know the date of said payment? Should be pretty easy to evidence with bank statements/Black Horse statements.
  4. The £30.00 sounds like a fee, rather than payment arrears. Your account would have gone into arrears by the difference between your payments and the regular instalments, so your arrears balance will be different to the total default balance. As for the interest some companies charge interest on fees, some don't. If they did you may want to challenge it if you're going to contest the fees. You will be charged interest on payment arrears however so there isn't really any getting out of that. If Black Horse allowed you to remain in arrears without actually doing anything, as in they were not attempting to get you into some kind of arrangement or trying to litigate, then they probably shouldn't have been charging you and you should make a complaint about this. With the new company I'd advise going through the I&E with them, even while the above complaint is ongoing, and either setting an arrangement to clear the arrears and extending the term if necessary. There are other options depending on circumstances (especially if this is secured) but these are the two most common solutions. You probably won't be able to find out how much they paid for the debt, if it was secured it was probably between 90p and £1.10 on the pound (sometimes it costs over the outstanding balance as profit is expected to be made on the remaining term). Loans are usually organised into tranches when they're sold and the price determined based on loan performance. I'm not sure what you mean by it being separated, but you can't really dispute it being sold. It's a common practice and will be covered in the terms of the loan agreement. They're entitled to charge arrears fees as they cover the cost of managing accounts in arrears, and whilst a SAR has it's uses it's not really particularly productive here. Just ask for a copy of statements that cover the period the fees were applied, or they should have issued statements to you when they sold the loan to Idem so you could ask for those. They'll probably send them without the admin fee needed for a SAR (and you won't get boxes of stuff you don't need). If the loan was secured then it will still be showing on the land registry as well, they wouldn't release the charge before the account redeemed and they'll have transferred it to Idem on selling the debt (and if they didn't, they can do it at a later date anyway). Checking land registry is a waste of £3.00.
  5. Hah, my bad. Sorry, new here, didn't think to check the posting dates
  6. Might be worth giving them a call if you're unaware of the reason, you probably have a better idea than we do as to whether or not they'll change their mind given that we have no idea why they blacklisted you in the first place. They might delete any record of your account after a sufficient time passes without activity, but that will depend on their data retention policy. They may also have an exception in place for instances like this and simply archive the data, so there's definitely no guarantee.
  7. Sounds like you've received a complaint acknowledgement, you'll get a final response letter within eight weeks of your complaint being made. Why would you jump to MCOL following that? They have acknowledged your complaint and refusing to wait on an outcome would probably be in breach of pre-action protocol. The fees look excessive so Black Horse may offer to refund the fees, although if you were in arrears they probably won't refund all of them. How much they refund will likely depend on your account conduct, if you were in arrears for an extended period (your posts indicate a multi-year period?) then there may genuinely have been quite high costs associated with the management of your account. Also noteworthy is that Skye reference deferred interest, have you queried that or were you aware that interest had been deferred? That would probably explain why the loan balance didn't match up with the terms of the original agreement, you did also go into arrears so likely also incurred further interest on that arrears balance. It may have been interest on the arrears that they deferred, if they capitalised it without your knowledge or consent that's probably worth looking at. Either way just wait on the complaint outcome, trying to go via MCOL straight off the bat is not a good approach. If you do decide to go down that route I recommend reading the pre-action requirements.
  8. I'll try to answer these as best I can, however without the paperwork it isn't too easy. Usually solicitors will contact you to transfer any surplus funds following redemption of any charges on the property, you could probably also at the time have called the lender and spoken to their property sales team. These are costs associated with sale of the property, was there a shortfall as I believe one of your earlier posts stated the property sold for a sufficient amount to redeem both charges? No you don't, they are quotes for redemption of the mortgages. The first charge and second charge probably sent each other some, the solicitors probably also requested some and they only usually remain valid for 28 days (or up to a specific date under MCOB) so you'll have loads bundled in your SAR. Sounds like PPI. That is a question in pre-action protocol, so I'd assume that is the PAP sheet from before they issued proceedings. Meaning that they ticked the box because you didn't have the property on the market (in which case they likely wouldn't have proceeded). Maybe, you were in arrears though and that amount seems reasonable. They cover the cost of managing your account whilst it is in arrears. Try looking on any statements you have for charges applied shortly after the date of the home visit. If you avoid contact they can send a representative to your property, litigation is a last resort and they need to exhaust all other options before they will proceed. Sending someone to your property in that instance is reasonable. Probably internal communication, might have been quoting costs. Not overly relevant. Probably a checklist to do with sale of property and yet another redemption statement. No, it's the cost of discharging the mortgage with the land registry (land reg don't charge but the solicitors handling the discharge will). Maybe, depending on what they are. That fee balance seems about right for an account that's gone through repossession (it quite often ends up higher than that). They probably put their redemption figure in the sale price bit, this document is for internal use so it's not a major issue. It's probably just for them to calculate any potential shortfall amount. That's interesting, might have been that the agent was in the incorrect account? Or a borrower may have called in and given your mortgage reference in error. May also have been a third party calling in to pay fees for something like a deed of postponement (were NRAM the second charge or first?), information request or something. Might be worth googling the numbers and seeing if it's a residential number or linked to a specific organisation. You could certainly bring the potential DPA breach to their attention, but it's unlikely you'd be able to claim anything as a result of it.
  9. As the above members stated the mortgage is MCOB regulated, however I'd also like to add that an SPV is an entity established for the purpose of packaging and selling mortgages and not a controlling entity to which you can direct queries (just to save you some time and googling). If the mortgage is being serviced by Ascenden you need to direct your proposals to them, if they have a client that owns the mortgage they will refer to the client if your request is outside of Ascenden's mandate to accept or decline. Realistically you should have a response from any such proposal within 10 days, as most lenders will have procedure timings that keep them in line with pre-action protocol. In your instance it might take a little longer, especially since they aren't going to be litigating any time soon so probably won't be worrying about PAP. You should certainly have a response though, so it may be worth making a complaint about your lack of prior responses. This should be made to the company initially, and they should issue an FRL which would hopefully contain an outcome for your proposal and explanation of their position. At that stage if you are still unhappy, you can escalate the complaint to the FOS. As far as I'm aware however MCOB rules do not require the lender to write off a shortfall amount regardless of situation.
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