Swift Advances. Secured Loan Charges reclaim

[Smarterchick]

JUst found this advert on the web

 

Finance Brokers Name: Swift Advances

Telephone: 0845-074 8811

Address: Arcadia House/Warley Hill Business Pk/The Dr, Great Warley, Brentwood, CM13 3BE.

 

 

Swift are their own broker sometimes then????

 

 

..and then they say they don't deal direct with the public...eerrrmm??? :-|

 

I think this company need some help - phsycological help

[Smarterchick]

Do peeps think that by Swift telling me that they do not pay commission... when they do ...would be considered .....an unfair relationship????

 

sparkie

 

Seriously sparkie, yes I do. Relationships of any kind are built on a foundation of trust (just ask the Mrs). If you are a habitual liar you won't last long in that relationship, if you cheat, that won't keep the relationship very long either (just ask the Mrs ) so you are already into an unfair relationship because one side deems it acceptable to lie and cheat and the other side, in all good faith are trying to be law abiding citizens taking what is projected as a respectable business at their word to be trading fairly, honourably, legally and respectfully. You can all make your own minds up on that one...

[dazpen]

Just been catching up sparkie. As far as calling them goes, i did friday like i said. They are going round in circles mate. I do actually wonder if they will turn up? Will you rush back Friday and let us all know whats happened mate? I,m not religous but i,ve even started praying now for you mate!!!

[overdone]

I,m not religous but i,ve even started praying now for you mate!!!

I think Sparkie should be cannonised too.

[Marky1701]

Hi All,

 

I think I posted something in a similar vien previously, but 2 things;

 

How can we find out which brokers/intermediaries are introducing business to Swift (moles might help here) so they can be contacted and informed of the type of company they are dealing with - lets try and stop them at source so they are hit in the pocket, and

 

How can we get Swift & Co into the public domain - apart from CAG - so that anyone who is has an agreement in front of them might just think twice about signing it.

 

Any potential customer who, as a result of the above, is prevented from making what will be undoubtedly the biggest financial mistake of their lives and becoming a customer of Swift would be a victory.

[Smarterchick]

Hi All,

 

I think I posted something in a similar vien previously, but 2 things;

 

How can we find out which brokers/intermediaries are introducing business to Swift (moles might help here) so they can be contacted and informed of the type of company they are dealing with - lets try and stop them at source so they are hit in the pocket, and

 

How can we get Swift & Co into the public domain - apart from CAG - so that anyone who is has an agreement in front of them might just think twice about signing it.

 

Any potential customer who, as a result of the above, is prevented from making what will be undoubtedly the biggest financial mistake of their lives and becoming a customer of Swift would be a victory.

 

 

Don't worry, the spotlight is going to be on them soon enough in the public domain....

 

also, honourable though the thought may be, can you imagine any of these brokers actually turning down the possibility of tens of thousands of pounds in commission because someone says they are not particularly professional? - sadly, they're one of a kind.... Swift will run out of money, just like the DCA's and debt purchasers are ( "Walking dead" was how they have been described by people in the credit industry) and Swift are already in their burial robes...just waiting for one of us to bury them....

[Marky1701]

Hi Sm,

 

Whilst I agree with you in the main, I do think that some brokers might just think twice, or at the very least consider another source. Like I said, if just 1 new Swift customer was prevented, that would be a victory.

 

If anyone does know of any brokers, pm me and I will do the necessaries.

 

The 'Spotlight' thing reminded me - the recent meeting which took place with lawyers/accountants etc - whats the latest?

[Sparkie1723]

I think Sparkie should be cannonised too.

 

 

I hope you got that right meaning word overdone and it doesn't start with CASTR"""""D:D:D:D:D

 

By the way THE "SPOTLIGHT" IS TURNING on to Swift in a BIG way ..............sparkie

[Sparkie1723]

I am now preparing a list to present the Court of what I am asking a CPR 31.16 order to be made for.

 

1. Title Indemnity Insurance Policy Document.

 

2. The underwriting Sheet

 

3. A proper statement of account NOT just a record of payments.

 

4. A copy of the Written Authority required and given by Barclays that Swift have the right to sell my mortgage loan.

 

5. A copy of that particular sale document.

 

6. Copy of Notification that Possession proceedings were given to our First Charge lender Abbey.

 

7. Copy and statement of our account taken from Kestrel No 1's computer bank.

 

8. Copies of all other documents, records and data held by them.

 

9. A full breakdown and explanation of the actual cost of each and every charge that has been applied to our account, since inception.

 

10. A copy of the case summary about our loan application.

 

11. An explanation why our Combined Credit file was copied Twice in a very short Period of time into hard copy which Swift now hold; and;

 

a) What steps have been taken (now that it has been copied) to protect all that information in compliance and remit of the Seventh Principle of the Data Protection Act.

 

b) Is it kept in a completely secure area and that steps have been taken so that it can only be accessed by named persons who have security clearance to access it.

 

c) An explanation as to why these copies were made when all that information can be viewed by Swift at any time at the touch of a button via their access on the internet to all CRA files which are protected by extremely secure firewall protected computer programs.

 

c) I will be asking the Barrister representing Swift as he also has a copy, does his chambers have the same security or are they left in a file in his office for such people as office cleaners to have view of, if it happened to be left on a desk.

 

12 A signed statement and explanation from a Director of that company as to why I cannot contact any employee or representative of Kestrel Loans No1 Ltd to discuss my account that was transferred to them on 18th April 2007, when there are 109 employees allegedly working for that company.

 

For reason I am told there is no one in Arcadia House their registered office and main place of business that works for Kestrel NO 1

 

 

sparkie

I'll be thinking of more as I go through the day

Edited November 29, 2009 by Sparkie1723

[JHGlover]

dear all

 

I have been looking through all the pages on this forum, i am asking for advice on a loan secured on my parents house. this is with swift, the loan we for 35k with PPI of 5.212.20, this loan period was for over 15 years, an unregulated credit agreement, taken out on 1/12/2006,

 

details of the loan

 

amount 35k monthly payments £452.29 over 180 months

PPI 5,212.20 36 payments of 63.36 144 payments of 33.13, i have added the figures and the dont seem to add up.

 

Total

36 payments 0f £515.95 then 144 payments of £485.72

 

I believe this has been increased due to applying higher interest rates.

 

Fees payable

Broker fee £1,500

Load admin fee £595.00

Title ind fee £135.00

Interest rate 12.25 pa variable

 

The reason i post this is because the loan was sold to a 60 & 66 year old, who have no chance of fulfiling the payments over the next 12years and know my mother is 69 and my step father 63, they have kept up their payments however know due to hardship and no job, the ppi is soon to be cancelled and therefore will not cover any isues that may arise due to age, i appreciate that my parents were stupid to take the loan out in the first place and i have certainly told them, however that said the situation is becoming fruitless, i have looked at other options which includes providing some financial support, however there is a limit, i have looked at the form on page 1 of this thread and the CA form is the same. i would very much appreciate and advice, as it would seem whatever action happens they are going to loose their house under the current circumstances. i ca PM the credit agreement if someone wants to have a look

[Sparkie1723]

First point I would make is that you would without a doubt have all the payments of the PPI returned plus interest at contract rate..as it was without a doubt mis sold the Second as with my case You must put Swift to strict proof that they ahve the legal right to issue proceedings against your parents should that time come ...in the mean time send an SAR off to Swift and one to the Brokers that arranged the loan..................they are the ones that you will have a claim against for negligence and for a breach of their fiduciary duty they should have pointed out to both your parents AND Swift that it would Reckless and irresponsible to lend that money to your parents due to their ages and it was poor advice ..all they were after was their fees and commission.

 

Swifts argument would be your parents applied for the loan ....the counter argument is THEY were the ones that Lent them it...if they had not lent it your parents would not be in this position.

 

They are the ones that put themselves forward and promote themselves that they have the Bachelors of economics, and all the experience and expertise in the field of secured lending etc etc and are the intelligent ones ......Ask yourself would you lend that sort of money to your parents if you were in Swifts position and were not just thinking of how much money you would make out of their property.

 

You would check up that both they and you were ABSOLUTELY certain as you possibly could be before you lent that money.

 

sparkie

Edited November 29, 2009 by Sparkie1723

[JHGlover]

Thanks Sparkie i will do that, however i no the PPI company as Sterling Ins Goup Ltd, how would i find out who the broker was, i will need to ask my stepfather, i suppose the biggets question is would the CA be enforcable,

[Sparkie1723]

Thanks Sparkie i will do that, however i no the PPI company as Sterling Ins Goup Ltd, how would i find out who the broker was, i will need to ask my stepfather, i suppose the biggets question is would the CA be enforcable,

 

 

Can you remove all personal details from your Mum & Dads agreement and post it up using ...say photobucket or similar imaging.

Lets see how that PPI is onthe agreement.

 

The agreement is a multiple agreement and a partly regulated agreement by the Consumer CreditAct 1974

 

lets have a look

 

sparkie

[landy_alert]

Hi JHGlover:)

 

We also had a loan with Swift dating from 2006, now paid off thankfully. We put in a claim for mis-sold PPI in the summer and it is now beiing investigated by the FOS. Single premium mortgage PPIs were invariably mis-sold and considering the ages of your mother and stepfather, apart from any other reasons, I would think you have a very good chance of your complaint being upheld although the FOS process is terribly long-winded, particularly as they are inundated with such claims.

 

It would be worth your while to pop over to the PPI sub-forum and have a read of the 'stickies' at the top of the page which contain plenty of advice and guidance to PPI reclaiming. It would also be a good idea to start a thread in that forum where you will get specific PPI related advice. As Sparkie says your parents would be entitled to a refund of all PPI premiums plus interest on those premiums, which would be a tidy sum.

 

Regards,

 

Landy x

[Smarterchick]

dear all

 

I have been looking through all the pages on this forum, i am asking for advice on a loan secured on my parents house. this is with swift, the loan we for 35k with PPI of 5.212.20, this loan period was for over 15 years, an unregulated credit agreement, taken out on 1/12/2006,

 

details of the loan

 

amount 35k monthly payments £452.29 over 180 months

PPI 5,212.20 36 payments of 63.36 144 payments of 33.13, i have added the figures and the dont seem to add up.

 

Total

36 payments 0f £515.95 then 144 payments of £485.72

 

I believe this has been increased due to applying higher interest rates.

 

Fees payable

Broker fee £1,500

Load admin fee £595.00

Title ind fee £135.00

Interest rate 12.25 pa variable

 

The reason i post this is because the loan was sold to a 60 & 66 year old, who have no chance of fulfiling the payments over the next 12years and know my mother is 69 and my step father 63, they have kept up their payments however know due to hardship and no job, the ppi is soon to be cancelled and therefore will not cover any isues that may arise due to age, i appreciate that my parents were stupid to take the loan out in the first place and i have certainly told them, however that said the situation is becoming fruitless, i have looked at other options which includes providing some financial support, however there is a limit, i have looked at the form on page 1 of this thread and the CA form is the same. i would very much appreciate and advice, as it would seem whatever action happens they are going to loose their house under the current circumstances. i ca PM the credit agreement if someone wants to have a look

 

 

Can you also tell us how the loan was structured please?...did it pay off arrears to anyone else?, pay off an existing loan?, some cash to them?..please say exactly how the loan was put together...

[Sparkie1723]

HI again JHGlover,

 

The PPI on these agreements by Swift would also come under Section 140 the Unfair Relationship.

It is not only totally unfair to sell you a product that only covers three years of an agreement that is for 15 years,( its immoral) (But SWift have none in any event) and I believe that you cannot claim for 12 months..then cover ceases ............and you have to wait a further 12 months before you can claim again ......but by then the cover has ended so in actual truth you only get 12 months cover, a very interesting point on these agreements is that they are noncancellable agreements.

 

Once entered into the PPI cannot be cancelled or other wise the agreement gets destroyed and would be void.

 

If these are challenged in Court even the Court which has wide powers under Section 140..would have trouble in amending the agreement to comply with all the terms of the UTCCA regs and would most likely have to void the agreement...interesting to say the least.

 

On the other hand if it is included in the total credit .the agreement must have on the top the words Partly Regulated by the CCA 1974 in order to comply with the CCA Regs amended 2004 ..in force 31st May 2005

Schedule 1 states

 

(4) Where the document embodies an agreement

of which at least one part is a credit agreement

not regulated by the Act, the word “partly” shall

be inserted before “regulated” unless the

regulated and unregulated parts of the agreement

are clearly separate.

 

sparkie

Edited November 29, 2009 by Sparkie1723

[Sparkie1723]

Our First Draft Defence sent by e-mail to Swift has just been opened by Mr Falkowski at Grays Inn Chambers London........he's working on a Sunday .Wait till he gets the Full Court copy and the attached Docs!!! Probably Monday. He'll have to start going through it again.

 

sparkie

[JHGlover]

[JHGlover]

how can i upload the copy of the loan agreement to this site, minus personal data of course....

[overdone]

Open an account at "Photobucket". Scan the document covering the account number, name and address plus any personal identifiying info. Upload to photobucket then copy the link of the photobucket page to these message boxes. Looks like this.

 

swiftagreement picture by overdone1 - Photobucket

[JHGlover]

I think i have it worked out, come someone take a look and see if its enforcebal

[overdone]

One of the C.A.G. big guns, in the background, will be along in a bit.

[JHGlover]

this PDF should work

Scan0002.pdf

Edited November 29, 2009 by JHGlover

[Sparkie1723]

In my opinion this agreement is unenforceable, for so many reasons I cant count,

 

It is impossible to understant the manner in which payments have been calculated.....it is without doubt a multiple agreement partly regulated by the CCA 1974...therefore the interest rate on the PPI should be shown an an APR in any event and it is not.......if the PPI is taken out of the amount of credit by the misselling it would affect the whole agreement and would in my view be declared void.

My Advice

Get genuine good legal advice off a good consumer law lawyer

sparkie

[sunray001]

I agree sparkie,

 

but the problem is, where can I get one?

 

most are rubbish

 

regards