Swift Advances. Secured Loan Charges reclaim

[busterg]

Sparkie, why are they writing to two different people?

 

If its because your are both on the loan, then why is it not addressed to both of you?

 

a) Is it a cost building excercise on their part? 2 x letter charges?

b) A balls up rush job?

 

So who have they given notice to?

 

The original doc or the copy?

 

I love the marrow in this bone...and j'adore apples!

 

I also have found a document that states 0.00 interest adjustments but my payments went up. You couldnt make it up!

[sweetjane]

Hi Sparkie, good stuff! The OFT have seen a lot of stuff from me as you know! I also copied my latest FOS missive which included trading styles info to David Blocksidge. I have also encouraged them to share info with FOS and FSCS under their Memorandum of Understanding: http://www.financial-ombudsman.org.uk/about/FOS-OFT_MoU.pdf

[Sparkie1723]

Hi Sparkie, good stuff! The OFT have seen a lot of stuff from me as you know! I also copied my latest FOS missive which included trading styles info to David Blocksidge. I have also encouraged them to share info with FOS and FSCS under their Memorandum of Understanding: http://www.financial-ombudsman.org.uk/about/FOS-OFT_MoU.pdf

 

 

Way to go sweetjane, the more info the OFT have the more problems for Swift Advances Plc......its the OFT that can clobber them without a CCA licence at all they are to put it bluntly "knackered"

 

Got to get off now I have to take son in law to Manchester Airport at 4.00 in the morn. Lets see what tomoorrow brings.;)8-)

 

sparkie

[Sparkie1723]

Mornin everyone

 

I have just prepared another letter direct to David Blocksidge at the OFT, this one I cannot post because it contains some information that is so damming and explosive Swift Advances Plc and Swift First Ltd are not to be privy to it .................sorrry folks but it is so strong even to my standards, I'm telling you all about it to make you feel happy ( because you all should trust me) :Deven though it may make you curious, I will send folks a copy by e-mail if you send me your e-mail address.I'll be calling the OFT today about it also.

 

sparkie

[Doc2527]

Hi Sparkie

 

PM'd you.

 

Doc

[landy_alert]

Me too Sparkie - thank you

[busterg]

Just pm'd you as well.

[Killerschick]

Just in reply to Buster's earlier post about why two default notices would be issued on a joint named account. It's not a mistake or an attempt to extort further costs from the customers.

Creditors do this deliberately in order to try and ensure both account holders are aware of the default notice and have the opportunity to remedy the problem. In the cases I have seen only one fee is applied to the account as it is a fee for the default (usually a lot more than the fee for ordinary letters) rather than a fee for the letter.

In some cases where couples split up one might move out and set up redirection, if they were the first named person on the loan they would get all the correspondence and the one who stayed at the property could be blissfully unaware of mounting debts in their name.

The other (much more common) situation is that one of the two parties takes more responsibility for the finances and opens all the jointly addressed mail so, again, the other party knows nothing about the arrears.

Whilst it is in the interest of joint account holders that creditors do this so all parties are informed, it also serves the creditor's purposes if a party later tries to defend/delay court proceedings by saying they didn't know about the situation as the creditor can show individual defaults were issued.

[welshperson3]

sparkie i have a document that proves Swift pay a commission.

 

i can post it up on here if you want.

 

or keep it under the radar and wiling to send it privately to anyone that wants to see it.

 

wp3

[busterg]

This is interesting as well:

 

http://www.parliament.uk/documents/upload/WrittenEvidenceMortgages2.pdf

 

following select committee meeting with FSA

[welshperson3]

LOOK WHO PAYS COMMISSION

 

 

https://acrobat.com/#d=Bp9YaGzDKP6J9XF8di0sjw

[busterg]

LOOK WHO PAYS COMMISSION

 

 

https://acrobat.com/#d=Bp9YaGzDKP6J9XF8di0sjw

 

love to but it sends me to adobe website?

[welshperson3]

Try And Fix Link Now

[welshperson3]

i will work out how to post the whole document but in the mean time here is swift part.

 

 

Lender Location Commission Min Max

Swift 1st - £10,001-£30,000 - 80% LTV max inc PPP [A] All of UK 2.00% + 0.10%

Swift 1st - £100,001- £500,000 80% LTV max Inc. PPP [A] All of UK 1.25% + 0.10%

Swift 1st - £3,000-£10,000 - 80% LTV max inc PPP [A] All of UK 3.00% + 0.10%

Swift 1st - £30,001-£100,000 - 80% LTV max inc PPP [A

[welshperson3]

cupcake 68 blamain is on here also

[cupcake68]

Really?!!

[welshperson3]

Blemain Finance - Plan A [C] Not Northern Ireland 0.50% + 0.10% Nil

Blemain Finance - Plan B [C] Not Northern Ireland 1.00% + 0.10% Nil

Blemain Finance - Plan C [A] Not Northern Ireland 1.25% + 0.10% Nil

Blemain Finance - Plan D [A] Not Northern Ireland 1.50% + 0.10%

[welshperson3]

trying to post a link hope this works this time

 

https://acrobat.com/#d=Bp9YaGzDKP6J9XF8di0sjw

 

 

is it ok

Edited March 24, 2010 by welshperson3

[Marky1701]

Hi All,

 

It did open this time.

 

Interesting to note (but not surprised) Swift pay way more than anyone else - it makes complete sense then that they keep rates high to pay off the high commissions they pay - or should I say we pay off the high commissions they pay out

[welshperson3]

I wonder why they printed this bit ?

 

should not be shown to any member of the public

[Gallahad]

It downloaded fine for me WP

G

[busterg]

thank you wp3:D

 

Marky any news on the interest rates?

[welshperson3]

the one thing that stands out with this document is that it pays the broker a lot more money if he sells a sub prime loan,

 

how many people have sub prime loans because the broker wanted a better pay out.

 

how many of you are with swift and shouldn't be

 

Key

[A] = Non-Conforming Products

[C] = Conforming Products.

 

 

wp3

[cupcake68]

Blemain Finance - Plan A [C] Not Northern Ireland 0.50% + 0.10% Nil

Blemain Finance - Plan B [C] Not Northern Ireland 1.00% + 0.10% Nil

Blemain Finance - Plan C [A] Not Northern Ireland 1.25% + 0.10% Nil

Blemain Finance - Plan D [A] Not Northern Ireland 1.50% + 0.10%

 

Thanks WP!

 

My agreement states £1,300 commission paid.

 

I haven't SAR them yet so don't know if there was secret commission too!

 

Cupcake

[welshperson3]

Thanks WP!

 

My agreement states £1,300 commission paid.

 

I haven't SAR them yet so don't know if there was secret commission too!

 

Cupcake

 

 

check it to see but i think i might say BROKERS FEE the commission in the document would be paid out on top of this.

 

wp3