Too Many Posts Going Unanswered: Your Help Needed

[citizenB]

There are a few unanswered posts from around the 14th April

[jackieandwayne]

Well, I've been trying to help with social housing problems! There are so many of them - the other morning I looked for people waiting for answers and there were about 6! All with awful worrying problems! It was just like being in the office in a Monday morning with all my tenants ringing me to complain about all and sundry!

 

But I hope I am helping these people, I'm just being point blank, but whether they will listen or not is an entirely different matter.

 

I only came on here to find out about my bank charges - now I'm teaching Joe Public how to screw (sorry - slip of finger there - ensure they get their rights from) the landlord! I'll be furious if one of my tenants tries one of my own tricks on me.

 

I hope I am helping in a small way.

 

I've also had some brilliant advice myself from posters on here, so this forum is great, and it works.

[citizenB]

Well, I've been trying to help with social housing problems! There are so many of them - the other morning I looked for people waiting for answers and there were about 6! All with awful worrying problems! It was just like being in the office in a Monday morning with all my tenants ringing me to complain about all and sundry!

 

But I hope I am helping these people, I'm just being point blank, but whether they will listen or not is an entirely different matter.

 

I only came on here to find out about my bank charges - now I'm teaching Joe Public how to screw (sorry - slip of finger there - ensure they get their rights from) the landlord! I'll be furious if one of my tenants tries one of my own tricks on me.

 

I hope I am helping in a small way.

 

I've also had some brilliant advice myself from posters on here, so this forum is great, and it works.

 

I am sure you are:)

[saintly_1]

Well, I've been trying to help with social housing problems! There are so many of them - the other morning I looked for people waiting for answers and there were about 6! All with awful worrying problems! It was just like being in the office in a Monday morning with all my tenants ringing me to complain about all and sundry!

 

But I hope I am helping these people, I'm just being point blank, but whether they will listen or not is an entirely different matter.

 

I only came on here to find out about my bank charges - now I'm teaching Joe Public how to screw (sorry - slip of finger there - ensure they get their rights from) the landlord! I'll be furious if one of my tenants tries one of my own tricks on me.

 

I hope I am helping in a small way.

 

I've also had some brilliant advice myself from posters on here, so this forum is great, and it works.

I came here nearly 3yrs ago for bank charges help ............. now no-one will show me the way out

[citizenB]

I came here nearly 3yrs ago for bank charges help ............. now no-one will show me the way out

 

 

They blocked up all the exits, saintly:D8)

[Guest wino]

There are a few unanswered posts from around the 14th April

 

 

I was off that day but I do have a letter from my Mum excusing me!

[citizenB]

There are a few unanswered posts from around the 14th April

 

I was off that day but I do have a letter from my Mum excusing me!

 

[patrickq1]

i was away on business sorry but i do try dont always get it right due to illness but i will keep on plodding along help where i can

patrickq1

[patrickq1]

should be a bump button

[Guest Old_andrew2018]

I occasionally BUMP threads, but Get really pee'd off by news threads

look at this from 29th July 2009, http://www.consumeractiongroup.co.uk/forum/general-consumer-issues-media/211932-plane-crashes-kyrgyz-capital.html#post2324777

 

Cant we do anything about this, does anyone really want to follow a link to a story nearly 12 months old, its all so tedious.

 

Andy

[citizenB]

I occasionally BUMP threads, but Get really pee'd off by news threads

look at this from 29th July 2009, http://www.consumeractiongroup.co.uk/forum/general-consumer-issues-media/211932-plane-crashes-kyrgyz-capital.html#post2324777

 

Cant we do anything about this, does anyone really want to follow a link to a story nearly 12 months old, its all so tedious.

 

Andy

 

Have brought this to the attention of the site team, andrew:)

[Michael Browne]

Have brought this to the attention of the site team, andrew:)

citizenB

Site Team

 

I thought he just had:p

[PGH7447]

Lol:d

[yourbank]

citizenB

Site Team

 

I thought he just had:p

No he is just a naughty boy

[PGH7447]

unless god forbid there are 2 citizenB's on here - quick identity fraud check, could be a DCA in disguise:D

[citizenB]

not sure I understand the last few posts

[yourbank]

not sure I understand the last few posts

A man who has missed out on Monty Python and "The Life of Brian"

 

Pity

 

I think you have to take out the clip once you see it cos it is a bit naughty

[citizenB]

Hmmm, for one moment, I thought it was ME who had lost the plot

[Capricorn1601]

I'll help, I'm still learning myself but am will to give support where I can

[maroondevo52]

I'll help, I'm still learning myself but am will to give support where I can

 

Thank you, the more the merrier

[dodgster]

Thank you, Michael.

 

To add to this, you may be a relative newbie, and you think that maybe there are people with more knowledge or experience or "seniority" who can answer, or you don't want to be seen to put yourself ahead. Please don't ever feel that way and never hesitate to respond. That's how this site grew and keeps on growing, thanks to us all ordinary users.

Help!!! I am new to this. Can someone point me in the right direction?

 

Can anyone let me know if loans granted by local authorities are exempt from the requirements of the CCA 1974? any response would be appreciated!!

[Guest Old_andrew2018]

Hi Guys

Its been sometime since Michael raised this issue, there are still many posts going unanswered, what can we do to offer support,as it appears BUMP is not always understood by the OP.

I recall one poster suggesting suggesting that all new posts could be reviewed by the site team, then if necessary moved to an appropriate forum.

In addition we have a lot of news/rss feeds to wade through, I suggest that they are clogging up this section.

Here is one such thread, it is interesting to people who wish to buy a Skoda but what benefit is it to most visitors to the forum, http://www.consumeractiongroup.co.uk/forum/consumer-news/251005-new-skoda-fabia-roomster.html#post2817341

 

Andy

Edited March 13, 2010 by old_andrew2007
typo and added info

[patrickq1]

Help!!! I am new to this. Can someone point me in the right direction?

 

Can anyone let me know if loans granted by local authorities are exempt from the requirements of the CCA 1974? any response would be appreciated!!

Commercial lenders are governed by various pieces of legislation when providing lending facilities. This is to ensure that customers are given good advice, products are not mis-sold and lenders are protected by following the good practice and guidance issued by various bodies.

It is not possible to recommend specific lending products without assessing an individual's personal circumstances in relation to the amount of loan required. In the case of equity loans, the interactions between personal resources and state support are complex and can vary dramatically based upon personal circumstances. There are no safe ways to group people and there are big differences in the impact of benefits and tax on people in apparently similar circumstances.

The recommendation of lending products is a specialised process and is carried out in the commercial market by trained individuals. Particular qualifications are required before providing a recommendation of a particular mortgage or equity product.

It is important that any loan scheme that is developed is compliant with the necessary regulators particularly when dealing with vulnerable people.

Current legislation includes:

• The Financial Services Authority ( FSA) Mortgage Conduct of Business Rules
  
• The Consumer Credit Act
  
• Financial Services Distance Marketing Regulations
  
• Responsible Lending.
  

All products and services offered by lenders must be compliant with the relevant legislation.

The extent to which local authorities, credit unions and registered social landlords ( RSLs) are also governed by these rules is considered in this chapter.

Financial Services Authority - Mortgage and Home Finance - Conduct of Business ( MCOB) sourcebook

From 31 October 2004 the Financial Services Authority ( FSA) has regulated the sale of first charge mortgages by mainstream lenders. The regime adopts a 'cradle to grave' approach throughout the relationship between customer and lender, including the regulation of mortgage advertisements, the application process, information provided during the term of the mortgage, and what happens should the customer fall into arrears with the repayments.

An agreement is regulated where a lender provides credit to an individual (or a trustee) and the obligation of the borrower to repay is secured by a first legal charge in the UK, at least 40% of which is used by the borrower in connection with a dwelling.

Under the Financial Services and Markets Act 2000 (Exemption) (Amendment) (No2) Order 2003, both local authorities and RSLs offering mortgages have been exempted from the new FSA regulatory regime, but on the basis that a comparable quality of service is provided to customers.

The Regulatory Reform (Housing) (England and Wales) October 2002 created a new framework for local housing authorities to provide financial and other assistance for home repair and improvement. This led to new strategies involving loan finance. As a result of this the Office of the Deputy Prime Minister issued sales guidance that local authorities and RSLs must follow when providing mortgage finance under these new powers. The guidance includes:

• Good practice standards for all communications with customers
  
• Responsible lending requirements
  
• Pre-application information
  
• Information at mortgage offer stage and during the lifetime of the mortgage
  
• Additional customer protection requirements for equity mortgages
  
• The fair treatment of customers in financial difficulties.
  

Whilst the ODPM rules are not specifically aimed at local authorities in Scotland, they were written after changes in housing legislation which meant that local authorities could lend. We are now looking at a similar situation in Scotland. The FSA's rules do apply to Scottish local authorities and they state that a comparable quality of service is provided to customers.

FSA rules cover:

• Application and purpose
  
• Conduct of business standards
  
• Financial promotions
  
• Advising and selling standards
  
• Pre-application disclosure
  
• Disclosure at the offer stage
  
• Disclosure at the start of contract and after sale
  
• Lifetime mortgages - advising and selling standards
  
• Lifetime mortgages - product disclosure
  
• Annual percentage rate
  
• Responsible lending
  
• Charges
  
• Arrears and repossessions.
  

These include:

• Prescribed Initial Disclosure information that must be provided to the customer at the first point of contact
  
• Prescribed Key Features Information that must be provided to the customer prior to the offer being made
  
• Prescribed information that must be included in the offer letter
  
• Training and competency requirements for those selling mortgages
  
• The requirement to have scripts that are used by staff offering non advised sales
  
• For equity loans:
  

• Additional training and competency requirements for staff selling these products
  
• Additional provision of information for customers
  
• Consideration to be given during the application process as to the effect on customer releasing equity ie effect on tax position, benefits, and to any alternatives.
  

The FSA have advised the industry that firms should not dabble in equity release loans and staff dealing with them should be fully competent.

Consumer Credit Act

Loans granted by local authorities are exempt in part from compliance with the Consumer Credit Act 1974 by virtue of section 16(2) of the 1974 Act and Article 2 of the Consumer Credit (Exempt Agreements) Order 1989. However, these exemptions are dependent on specific criteria being met and will be affected by the way in which the local authority facilitates the home improvement works. The main exemption is that the 1974 Act does not apply to all first charge secured loans.

Under the 1974 Act, a consumer credit agreement may be either:

• a debtor-creditor (dc) agreement; or
  
• a debtor-creditor-supplier (d-c-s) agreement.
  

Some of the exemptions from compliance with the 1974 Act apply only to d-c agreements and others apply only to d-c-s agreements.

An agreement is a debtor-creditor-supplier agreement if it falls within either section 12(b) or section 12© of the Act,ie:

• a restricted-use credit agreement - made by the creditor under pre-existing arrangements, or in contemplation of future arrangements, between himself and the supplier, or
  
• an unrestricted-use credit agreement which is made by the creditor under pre-existing arrangements between himself and a person (the "supplier") other than the debtor in the knowledge that the credit is to be used to finance a transaction between the debtor and the supplier.
  

If the creditor gives the debtor a cheque made payable to the debtor, the agreement is likely to be unrestricted-use even if the cheque is supposed to be used for a particular purpose. If however the creditor makes the cheque payable to the supplier the agreement will be restricted-use.

Generally a d-c-s is one where the lender is connected in some way with the supplier of the goods or services being financed by the credit agreement. This includes cases where the lender and the supplier are the same person. If the lender and the supplier are different persons, the agreement would still be a d-c-s if there are arrangements between them under which the lender is prepared to finance the transaction between the supplier and the customer.

This situation could apply to the provision of home improvement loans where the local authority not only provides the loan finance but also co-ordinates the works to be carried out on the property. If the local authority specifically contracts and supervises the work undertaken, a d-c-s agreement would arise.

A d-c agreement is one where there are no goods or services directly involved, for example a personal loan, or where there are no arrangements between the lender and the supplier of goods. This would arguably only apply to home improvements loans where there is absolutely no contact between the supplier and the local authority with regard to the works being carried out.

Under section 16(2) of the 1974 Act, local authority mortgages are exempt from compliance where they are:

• a d-c-s agreement for the purchase of land/or the provision of dwellings on land; and
  
• a d-c agreement secured on land.
  

In practice it is unlikely that these criteria would be met in home improvement cases. The exemptions for d-c-s agreements are either linked to buying (or building) a property, or only apply where the local authority has already provided mortgage funds to the customers to enable them to buy the property in the first place. The exemption for a d-c agreement is a general one that would apply to any loan secured on land for whatever purpose; however, the majority of home improvement loans are likely to be d-c-s agreements.

Further exemptions are included in article 2(s)(ii) of the Consumer Credit (Exempt Agreements) Order 1989 ( SI 1989 No 869). Under this provision, where a local authority provides a secured loan to alter, enlarge, repair or improve a dwelling then this will be exempt from the 1974 Act if this is a d-c agreement. Therefore local authorities would be unable to take advantage of the exclusion if the credit agreement is not a d-c agreement.

There is a further exemption for local authorities (article 3(1) of the Consumer Credit (Exempt Agreements Order 1989 (the Exempt Agreements Order)) under a d-c-s where, if the loan is made available for a period not exceeding 12 months and the number of repayments does not exceed four, then it is exempt.

In summary:

• First charge secured home improvement loans must offer a comparable quality of service to that outlined in the Financial Services Authority's Mortgage Code of Conduct rules to ensure customer protection
  
• A second charge d-c-s agreement for home improvement works; must comply with the 1974 Consumer Credit Act
  
• A second charge d-c agreement for home improvement works; does not need to comply with the 1974 Act as it is exempt under the 1989 Regulations
  
• Unsecured lending will not be exempt unless in a d-c-s agreement, the period of the loan does not exceed 12 months and the number of repayments does not exceed four, or in the case of a d-c agreement the loan falls within the low cost exemption.
  

If lending falls within outwith the exemptions granted by the Consumer Credit Act then a Consumer Credit licence is required.

Irrespective of whether the agreements are exempt under the 1974 Act, the local authority will still need to comply with Advertising Regulations and the Total Charge for Credit Regulations formulated under the 1974 Act. There may also be other provisions under the 2006 Act which the majority of new rules come into force in April 2008.

Financial Services Distance Marketing Regulations

These set out what information must be given to customers when they buy financial services in a non face-to-face transaction, for example over the telephone, internet, fax or mail.

Responsible Lending

The Financial Services Authority states that 'there should be responsible lending, with all underwriting decisions subject to a proper assessment of the borrower's ability to repay and taking full account of all relevant circumstances'.

In addition to the FSA rules, the OFT guidelines for non status lending contain a series of general principles and then detailed guidance. A number are consistent with requirements that the FSA has introduced into its own regime.

The OFT considers the following general principles to be the most important:

• there should be transparency in all dealings with potential and actual borrowers, with full and early disclosure and explanation of all contract terms and conditions and all fees and charges payable
  
• there should be no high-pressure selling, and adequate time should be allowed for the borrower to reflect on the terms and conditions of the loan and to obtain independent advice before signing
  
• advertising and other promotional material should not mislead, and there should be no cold-calling or canvassing off trade premises without the borrower's prior consent
  
• brokers should disclose at the outset their status with regard to the borrower and the lender, and the extent of the service offered to the borrower, together with any brokerage fee or commission payable by the borrower or the lender
  
• lenders should take all reasonable steps to ensure that brokers and other intermediaries regularly marketing their products do not engage in unfair business practices, or act unlawfully, and that they serve the best interests of the borrower
  
• contract terms and conditions should be fair, and should be written in plain English to ensure as far as possible that borrowers understand the nature of the loan agreement and their rights and responsibilities under it
  
• there should be responsible lending, with all underwriting decisions subject to a proper assessment of the borrower's ability to repay and taking full account of all relevant circumstances
  
• any ancillary charges (for example, on default or early settlement) should be brought to the attention of the borrower before the agreement is entered into and should reflect as closely as possible the costs reasonably incurred by the lender and not already recovered at the time when the charges are made
  
• Advertisements and other promotional material should be clear and easily legible, and should not mislead. While advertisers may indicate that they can respond quickly, the advertisements should not place undue emphasis on this. They should not suggest, either expressly or by implication, that loans are available regardless of the income or other financial circumstances of the borrower, and dependent only upon the value of equity in the property on which the loan is to be secured. They should make clear that all lending is subject to a proper assessment of the borrower's ability to repay.
  

[Michael Browne]

Another bump for this thread. Please take a couple of minutes each day to reply to any unanswered threads (there are still around 120 new unanswered threads every week)

 

You can find the latest by clicking on the link below:

 

***

Unanswered Posts: Your Help Needed ***

All the threads below are unanswered

click here

[Guest Old_andrew2018]

But Michael if you don't know the answer is it really acceptable to BUMP as it causes problems for the site.