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    • I contacted Sanctury housing in August 2023 after informing them my father in law who had Dementia had moved into a Nursing home December 2022. We kept the flat for 8 months until such a time we could accomodate some of his furniture that my wife wanted to keep. I contacted them in August 2023 to let them know the situation by email as I was the named person that could speak on his behalf. I informed them that we had left it to late for POT and were seeing a solicitor for Deputyship of his financies. I asked them what information would they need in order to give notice on the flat and we could provide details of his condition and nursing home. This went ignored I left it a month and then called them October 2023. I was promised a call back from a manager over the next few days. This never happened and it was end of November when I contacted them again and they had no record of me calling them. I explained the email and again I was told the local manager to the area would call me. This never happened and I ended up emailing them in January 2024 with a copy of the email from August. Again this went ignored and I had explained to them that we couldn't just go to the bank and stop the DD as we had tried. This email again went ignored. I then had a letter written to our home address in February asking us to get in contact with them (local manager) as they were concerend nobody was living in the flat. He had an email address so I copied in the last 2 emails to say I had been trying to give notice since August 2023. I also stated that I would like the rent that was paid from August 2023 refunded back to his account as I had officially tried to give notice then and it went ignored. He replied to us about wanting to look at the flat then notice could be given once he had contacted the nursing home to confirm he was actually living there now. Notice was giving for the 22 March 2024 and this would be when rent would stop and no further payment would be taken by this point. The fact I asked to be back dated went ignored. I have since noticed on 2 banks statement for April and May that they are still taking Rent payments of £501 from his bank. Further to this which seems very strange. He was with Eon Next for his utility bill again we were having problems getting this stopped as they needed a named person on his account which there wasn't one despite me managing his online account for him. I didn't check the email address that often that I used to set it up and went to check as noticed the credit he had built up with not living there was all getting refunded in February. The email said £600 would be refunded to his account with a (sorry you are leaving us message) but how can he leave as nobody but himself had access to speak with them. I also noticed the lady in the flat above him had a letter from her bank sent to his address with his address details but his name which was dated 4th March well before we had given notice and it said (thank you for giving us your new address details) we have set all this up for your account.   So Sanctuary housing must have been aware he wasn't living there from the ignored emails for the lady above to start changing address details to move into his flat before the housing manager had even got in contact to ask if anyone was living there. What I basically want to know his do we have any legal standing to claim the rent back from when I first contacted them in August 2023? There is roughly £3000 to come back  
    • lowell letter = we've mugged you once - why are you not paying this other debt....😎
    • i see you are posting this all over the internet too. here you say it was returned by the safety camera dept UK, Wales Returned NIP Nov23 - Heard Nothing - Now It's been returned as refused and have SJPN Form. Help please? WWW.FTLA.UK UK, Wales Returned NIP Nov23 - Heard Nothing - Now It's been returned as refused and have SJPN Form. Help please?  
    • I see what you mean. I will wait till the 8 weeks is up and then take it up with FOS. Before I do will be on with some more details on the SAR. Thank you once again. 
    • Tagging @stu007 who's great with this. You should have at least 2 months notice with a Section 21 notice (Which Form 6A is used) For now, scan, redact and upload anything you think will be useful    
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Mortgage Securitisation - Preferred


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No. The trustee has the entry at companies house under s. 395 of Companies House Act (1985) The SPV doesn't own it any more. The whole purpose of the SPV is to flog the securitised assets (our houses) to Investors. It's all arms length or 'ringfenced' as a previous poster said.

 

This is inevitably simplified. I do not tend to post very long and detailed arguments - out of necessity rather than coyness or reluctance to share info - . I'm too busy fighting off these feckers as we speak.

Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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In my understanding it is the trustee. However I stand to be corrected!

 

Keep the faith you caggers. Sterling work going on left right and centre!

Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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The trustee is whomever the originator and the SPV set up to be the trustee. The key to your quest is protracted but rather simple. Start with the originator.

 

Who gave you your mortgage and when? Simple qs I am not trying to ascertain you details. Then we can go onto step two of the snakes and ladders board.

Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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the words 'you details' was obviously a typo. I am not thick or summfink! It should of course have read your details

 

Cheers EIE. Keep the faith.

Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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Bugger!

 

You need more specialist advice from a natwest thread. I suggest you try there.

 

However I have strong grounds for believing (as distinct from knowing!) that the underlying processes of all of THESE TYPES of securitsation structures were more or less the same. After that it gets far more detailed and interesting.

 

You will need to find out the SPV because without that the trail will go cold. That should be real easy to find. But as the issue gets more fraught you will find that stuff is being pulled from the web left right and centre. If I were you I'd be getting very busy quick.

 

I have too many of my own fish to fry to do this on your behalf but you can post again and I will try to help where I an. You may have a lot of this stuff already - I just don't know. Where are you in this game of snakes and (property) ladders?

 

Cheers.

Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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No the SPV actually should be the one. But the law is complex here, as is the process. THe SPV sells on the underlying collateral in the form of notes and is also sometimes referred to as the issuer. The Trustee is a spin of from the SPV. If you really want to know what happened to your mortgage there are several steps.

 

1. Go to the Land rgsistry office near you. They are very nice and helpful. But it will cost. Ask for the title and the deeds. This will in all likelihood be Nasty west.

 

2. Make sure you get all relevant pages of the documents. I have heard of so called schoolboy errors in this regard.

 

3. You then need to get down to companies house. It's very difficult to get this stuff of them unless you visit in person. You are looking form filed under s.395 of the Companies House Act 1985. They should assist you in finding who the trustee who holds the charge is.

 

4. None of this is definitive. It just helps you build up a picture. There are other aspects of the jigsaw that need consideration and acting upon too. However small steps make you progress along a very long path.

 

Hope that helps. I'm blocked off now with other stuff to do. Good Luck.

 

PS Things will go that far very quickly unless you get your a**e into gear. If you are not in the vicinity of London, it makes this stuff more difficult, but not impossible, to get hold of. You also need to find a copy of Nasty west's securitisation structure for around 2004. This will be on the web somewhere or someone on the NW forum may have it. There will be those on there who have more specialist knowledge than myself regarding NW. I strongly urge you go there!

Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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Share on other sites

PS CAN A MOD MOVE THSI HIJACK TO A MORE SUITABLE LOCATION. TA.

 

Goodnight peeps.

Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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PS CAN A MOD MOVE THSI HIJACK TO A MORE SUITABLE LOCATION. TA.

 

Goodnight peeps.

 

I am sorry, I did not mean to hijack this thread. I thought this thread was for discussion about securitisation.

 

Sorry for all the questions about securitisation

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No worries

 

but I really think it is in your best interests to get specialist NW advice. As i have pointed out the process is more or less the same but there will be other NW peeps who have more experience of this issue as it relates to NW. I'm trying to pop you in the right place. Hijack was too strong and I apologise unreservedly for that!

 

No need to apologise for qs about securitisation. Check out Mark Thomas's podcasts on the itunes store they are free to download and shed a load of light on this stuff.

 

Good luck and feel free to pop up anytime on this thread.

 

Keep the faith.

Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

Link to post
Share on other sites

Thank you for all your help Enoughisenough

 

I have been thinking about this all night.

 

In relation to securitisation (in general)

 

Who owns the mortgage ? Is it the SPV or the trustee ?

Who owns the charge ? Is it the SPV or the trustee. ?

 

The reason I am so confused is that when I think about my house and mortgage, I own the house and the bank own the mortgage.

 

So does the SPV own the mortgage and the trustee owns the charge ?

 

I thought a charge, like the one on my house was to secure lending. Why does either the SPV or Trustee get a charge if they are buying a mortgage ?

 

The whole process is confusing.

 

It is ok for people like you Enoughisenough but I don't understand what actually happens, not just with my mortgage but with securitisation as a rule of thumb.

 

Could someone, please take a few moments to help me and I am guessing many others to understand what is going on.

 

What is the process ? i.e. Does the bank sell the mortgage to the SPV, who then sells it to the trustee

 

Who owns what.

 

Many Thanks in advance people

Edited by SadButTrue
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trying to help but I'm on my commute now. Will post soon.!

Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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Hi Sadbuttrue,

 

The nature of the transactional relationship between the originator (of your mortgage), the SPV and the trustee is this:

 

1. The originator loans you the money and you give the originator a mortgage on your property.

 

2. The originators sells your mortgage to the SPV. Now the SPV is your mortgagee and your lender.

 

3. The SPV grants a Trustee a - mortgage on your mortgage - think about that phrase. Your mortgage IS mortgaged. People generally only think about granting mortgage on a property BUT you can grant a mortgage on the contractual value of the actual mortgage contract. When the SPV borrowers money from the investors, the investors say - yes we will lend you money but how do we know we'll get paid - so the SPV says, hey investors, I own all these mortgage contracts that are worth X amount and I'll put these mortgage contract in trust with a Trustee who will hold these mortgage contracts for your benefit. The SPV puts the mortgages in trust with the Trustee and grants the Trustee a Legal Charge on the mortgage contracts (which IS the mortgage of the mortgage contracts, filed with Companies House as a form 395 filing).

 

The form 395 filing is where the mortgage contracts have been "charged with the payment of money" - which is money to be paid by the Trustee to the investors.

 

Thus, the upshot is:

 

1. The SPV owns the legal title to your mortgage

2. The SPV has created a SUB-CHARGE on your mortgage. The Trustee has the Sub-Charge - (This sub charge is the form 395 which IS the "mortgage on your mortgage".

3. The Trustee owns the sub-charge (i.e. form 395 filing, the mortgage on your mortgage).

 

The smoke and mirrors bit - is that all of this has happened in secret without telling you about it plus, the originator remains registered at the LR, so you don't what's going on behind the scenes.

 

Mull over the concept of granting a mortgage on a mortgage contract. Once you get comfortable with the fact that you can grant a mortgage/charge on a CONTRACT it will become easier to grasp.

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Thanks for bailing me out super I was in the process of writing a very long stepwise account of the whole process and the issues and debates that arise. Trying to give a sad but true a bit of a boost here - but you've cracked it for him/her.

 

Sad but true you might want to look at this. Quite useful as an intro.

 

http://media.wiley.com/product_data/excerpt/79/04708698/0470869879.pdf

Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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