Swift Advances. Secured Loan Charges reclaim

[overdone]

Title Insurance Premium if any. This is what it says in my two remortgages. Not even a box for it in my first mortgage because we agreed I would have nothing to gain by way of PPI or insurance as I understood it, of any kind. What does the word Title mean because I cannot understand what exactly is being insured here.

[Dougal16T]

Hello everyone,

 

rainbow can you let me have sight of your agreement ?

- pm me if you prefer.

If you do post it here BLOCK OUT YOUR DETAILS please.

 

I'm currently working towards :

 

1. A Class Action against SWIFT

2. Getting our money back

3. Putting them out of business

 

Not neccessarily in that order!!

 

Kind regards to all

 

Dougal

 

 

Dougal

[landy_alert]

I know I keep on about the Title Indemnity Insurance, and the fact that Swift refuse to supply copies of any Documents relating to it, is of the utmost importance.

I believe that in a lot of loans Swift have charged for this insurance but have not taken it out……………The borrower has no choice to pay the fee for it, because if they do not ….Swift will not lend the money ( Blackmail in my eyes). It only needs one case to prove the Insurance has not been taken out, then Swift have had it …….Blackmail AND Fraud.

I am certain that is the reason why they will not produce any info about this Insurance.

Everyone must keep on insisting they supply a copy of that policy.

sparkie

 

Hi All!

 

Our mortgage agreement (settled) has £135 for 'Title Indemnity Fee (if any)'. We have SAR'd Swift and received back no document for this, along with quite a few other missing items. So far our non-compliance letter has been met with............more non-compliance - there's a surprise!

 

Dougal - would definitely be interested in your proposals, although I for one would prefer to get our money back BEFORE putting them out of business!

 

Regards,

 

Landy x

[Sparkie1723]

Title Insurance Premium if any. This is what it says in my two remortgages. Not even a box for it in my first mortgage because we agreed I would have nothing to gain by way of PPI or insurance as I understood it, of any kind. What does the word Title mean because I cannot understand what exactly is being insured here.

 

Hi overdone

Go to the web address below it explains it.

 

http://www.remortgage-conveyancing.co.uk/legal_indemnity_insurance.shtml

 

sparkie

 

 

Edited May 31, 2009 by Sparkie1723

[Smarterchick]

So you'd imagine Sparkie that they'd, for the sake of cost and expediency, take out a 'block' cover as they apply it to everyone's loan by the looks of things. So we need to ask for the cover policy to ensure the dates of cover are in place and what it costs. They won't supply this without some kind of court order as they'll tell you it is 'they' that it covers no-one else. We can't tell though can we? "Just pay us 180 quid and we'll let you think we've got this insurance" sounds more the mark..mark?...Mark? that name rings a bell - Mark White, of cooorse and another 'of course, is of course the fact that we were not given a choice of policy, details of what it costs in real terms and whether the cover covered anything we might suffer, but hey, we only paid for it!.

[Sparkie1723]

Exactly smarterchick, but again there are two types of these insurances and because of that we are even more entiled to see which one they hold, as one typecovers the borrower as well......and the borrower should be made aware of what it covers the borrower for,...... also because we pay for it and its a mentioned on the mortgage/loan agreement the borower MUST by law be entitled to see it BEFORE the agreement is signed.....the borrower may have been able to get it cheaper or contact his 1st mortgagee and obtain proof there was no need for such insurance as they had carried out all the necessary checks and investigations before they lent any money on the property.

Does that mean Swift aren't as capable as the First Mortgagee:?:

 

sparkie

[Dougal16T]

Good morning all,

 

I have now had the chance to make some further and deeper investigations regarding Swift.

 

Firstly I apologise, and yes it is more important to get the money back from Swift BEFORE they go under!!!

 

Secondly and as a main issue, non compliance (possibly deliberately) with a SAR request is against the current legislation. I understand that a gentleman by the name of Matthew Payne is an Assistant Solicitor with Swift, according to documents received, so I have checked the Solicitors register for England and Wales and he is on the register having been admitted on 15th March 1990. However, it is important that he holds a CURRENT practicing certificate, and these are valid from 1st November to 31st October, and a fee is payable. Perhaps further enquiries should be made.....

 

Now then, let us consider his position - I say that a complaint to the Solicitors Regulation Authority, (and they are the former Law Society Complaints Department - now independent) will get the ball rolling, and I have taken this from their website 'We tackle unacceptable performance, misconduct and dishonesty by taking firm, fair and timely action. As far as possible, our processes are open and transparent.'

 

The alternative is the Legal Complaints Service whose service is 'independent, impartial and free' according to their website. They may ultimately refer complaints to the SRA, but we must remember that a solicitor acting for a firm has a defined duty to ensure that his employers comply with the Law, and by non-provision of responses to requests, whether they be by Data Protection Act SAR requests or otherwise for information, a breach of the Law has occurred.

 

This may well prove to be the 'Achilles Heel' in Swift, they will be unable to argue that they were unaware of their own position, because in doing so, they would immediately place their legal representative in a position of having breached the regulations.

 

I suggest that a letter to Swift along these lines may well produce a better reaction.....If not numerous complaints will turn the spotlight onto their activities in no uncertain manner.

 

Meanwhile I am still looking at other details, my apologies for a rather long post.....I believe that the comments I have made will apply to all other organisations - I may be wrong.....

 

 

Best wishes to all

 

 

Dougal

 

IF YOU ARE INTERESTED IN A CLASS ACTION AGAINST SWIFT PLEASE PM ME.

[Sparkie1723]

I still believe a CPR 31.6 is the best and quickest way forward ...a Court would order Swift to supply a copy of the underwriting sheet and Title Indemnity Insurance once some has these in their possession things could be "worked out" quicker....and if I am right in my conclusions so far they will be found carrying out 'questionable' actions ....they would not like that being proven I can assure everyone.

sparkie

Edited June 1, 2009 by 42man

[42man]

I am with Sparkie on this one.....the only way of getting documents before starting any legal proceedings is the CPR31.16 pre action protocol.....(if they won't reveal anything via a SAR - which relates directly to documents pertaining to a 'data subject') if there is any doubt on this, an email to the ICO might be useful......you don't want to take a company to court for non compliance of a SAR, if any areas of the paperwork that you have requested under a SAR don't appear - and find that in some grey area of the Data Protection Act that the documents aren't classified as being related to a 'data subject'....

[42man]

In my opinion, then if they fall foul of the CPR31.16 then you have a stand alone case to take to court to get a judge to enforce that CPR31.16 - although this is for a credit card account this cagger did go to court JUST on the issue of them not complying with the CPR31.16 - http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/165349-smt37-morgan-stanley-goldfish-3.html#post2119750

[Smarterchick]

I've been speaking with the FSA about Swift, there's something big afoot Keep you posted

 

SC

[42man]

Don't say too much here as there are spies....

[Smarterchick]

Don't say too much here as there are spies....

 

Bring em on ! :grin:

[overdone]

Can FSA handle individual complaints?

[Smarterchick]

Can FSA handle individual complaints?

 

who said anything about an individual complaint OD ?

[overdone]

who said anything about an individual complaint OD ?

Me. Can I submit my complaints to FSA? The FOS did not want to know as Swift were only recently covered by them.

 

If it were a straight forward matter of reclaiming charges only, then an individually tailored approach could be supported. Because I appear to have been done down in areas that I do not understand too, I don't hold out much hope of even listing what I am entitled to, by way of refund. I would stand no chance in court. I do not understand what I have signed and just accepted all in good faith then I come on to a forum like this and find hell to pay. I will have to use one of those companies who claim to check the lot.

 

Mortgage Indemnity Guarantees

Unfair early redemption penalties

Sub Prime mortgage agreements

Payment Protection Insurance Policies

Secret commissions

Miscalculated APR’s

Unfair charges

Unfair Terms and Conditions

Any form of ‘unjust enrichment’ by the lender

Overpayments

Edited June 1, 2009 by overdone

[landy_alert]

Me. Can I submit my complaints to FSA? The FOS did not want to know as Swift were only recently covered by them.

 

If it were a straight forward matter of reclaiming charges only, then an individually tailored approach could be supported. Because I appear to have been done down in areas that I do not understand too, I don't hold out much hope of even listing what I am entitled to, by way of refund. I would stand no chance in court. I do not understand what I have signed and just accepted all in good faith then I come on to a forum like this and find hell to pay. I will have to use one of those companies who claim to check the lot.

 

Mortgage Indemnity Guarantees

Unfair early redemption penalties

Sub Prime mortgage agreements

Payment Protection Insurance Policies

Secret commissions

Miscalculated APR’s

Unfair charges

Unfair Terms and Conditions

Any form of ‘unjust enrichment’ by the lender

Overpayments

 

Hi OD,

 

It's early days with our claim, but I can see we'll probably be in the same position soon, if their lack of compliance and what you say about the FOS is true.

 

As for their confusing way of describing their charges/deliberately muddying the waters by calling them one thing in a SAR and another on the redemption statement, well words fail me so I've just put the lot on a spreadsheet!

 

I would also be interested to know if an individual could go to the FSA, as I had no idea about the FOS refusing to deal with Swift issues.

 

Regards,

 

Landy x

[Sparkie1723]

Keep up the pressure on tge OFT write to them as often as you can about anything Swift have done or have not done......I do know for a FACT that the Oft are monitoring Swift VERY closley.....the OFT take a while to act because they gather facts and evidence over a fair period of time, but they are being watched have no fear and have been since October/Novenber 2007.

 

sparkie

[caro]

Me. Can I submit my complaints to FSA? The FOS did not want to know as Swift were only recently covered by them.

 

If it were a straight forward matter of reclaiming charges only, then an individually tailored approach could be supported. Because I appear to have been done down in areas that I do not understand too, I don't hold out much hope of even listing what I am entitled to, by way of refund. I would stand no chance in court. I do not understand what I have signed and just accepted all in good faith then I come on to a forum like this and find hell to pay. I will have to use one of those companies who claim to check the lot.

 

Mortgage Indemnity Guarantees

Unfair early redemption penalties

Sub Prime mortgage agreements

Payment Protection Insurance Policies

Secret commissions

Miscalculated APR’s

Unfair charges

Unfair Terms and Conditions

Any form of ‘unjust enrichment’ by the lender

Overpayments

 

I don't think there would be much point in all honesty OD. Times Mobile

[Smarterchick]

Did someone say Swift had brokers in Manchester and Liverpool they used? I'm up there tomorrow and will have access to CAG from there en route, if anyone does can they let me know as I want to pop in and check these people out... Thanks

 

SC

[42man]

I'll take £27,000 from the top and push two to the bottom | The Sun |News|Sun Money

[overdone]

I'll take £27,000 from the top and push two to the bottom | The Sun |News|Sun Money

Note it was another claims firm though. They seem to learn as they go and get more expert at the job.

[sunray001]

Originally Posted by sunray001

Hi Sparkie,

 

Do you honestly think Swift will wait 6 months before starting repossession?

I will soon be able to let you know.

 

regards

 

sunray

-----------------------------------------------------------------

Hi People,

Just got a letter from swift saying they are going to start reposession proceedings within the next week if I don't cough up. I have missed 2 payments. Any one idea of my next move. Have been tied up recently with family ilness. Sparkie if you send me your email address I will send you a copy of my agreement?

regards

sunray001

[Sparkie1723]

Originally Posted by sunray001

Hi Sparkie,

 

Do you honestly think Swift will wait 6 months before starting repossession?

I will soon be able to let you know.

 

regards

 

sunray

-----------------------------------------------------------------

Hi People,

Just got a letter from swift saying they are going to start reposession proceedings within the next week if I don't cough up. I have missed 2 payments. Any one idea of my next move. Have been tied up recently with family ilness. Sparkie if you send me your email address I will send you a copy of my agreement?

 

regards

sunray001

HI sunray

I will send you my e mail address by pm....first write to Swift send it recorded delivery reminding them of the New Government advise/guidelines that lenders should refrain from initiating possession proceedings and delaying them until 6 payments have been missed.

The Government and the OFT will take a seriously dim view of any lender disregarding this advise and regard it as an abuse of power and postion.

 

Major lenders agreed with the government in late 2008 to allow three or six months before beginning possession proceedings against homeowners who have fallen into arrears with mortgage payments. This gives parties time to comply with the protocol and for borrowers to seek advice from a practitioner at the first hint of financial trouble.

Suggest to Swift they read the Law Societies Practice Note Protocol on repossessions on this website

 

Solicitors: private client work UK-wide from Bristol solicitors Humphreys & Co

 

sparkie

[42man]

CPR31.16 for a copy of the underwriting sheet SR !!!