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    • Any chance of some advice with filling in the N164 please?    I've sent an EX107 to the Court to request transcript of the Judgment to use in an appeal but the Courts still haven't actioned this and my 21 days expires on Tuesday
    • The lawsuits allege the companies preyed upon "vulnerable" young men like the 18-year-old Uvalde gunman.View the full article
    • Hi, despite saying you would post it up we have not seen the WS or EVRis WS. Please can you post them up.
    • Hi, Sorry its taken me so long to get round to this, i've been pretty busy today. Anyway, just a couple of things based on your observations.   Evri have not seen/read my WS (sent by post and by email) as they would have recognised the claim value is over £1000 as it includes court fees, trial fees, postage costs and interests, and there is a complete breakdown of the different costs and evidence. I'd say theres a 1% chance they read it , but in any case it won't change what they write. They refer to the claim amount that you claimed in your claim form originally, which will likely be in the same as the defence. They use a simple standard copy and paste format for WX and I've never seen it include any amount other than on the claim form but this is immaterial because it makes no difference to whether evri be liable and if so to what value which is the matter in dispute. However, I have a thinking that EVRi staff are under lots of pressure, they seem to be working up to and beyond 7pm even on fridays, and this is quite unusual so they likely save time by just copying and pasting certain lines of their defence to form their WX.   Evri accepts the parcel is lost after it entered their delivery network - again, this is in my WS and is not an issue in dispute. This is just one of their copy paste lines that they always use.   Evri mentions the £25 and £4.82 paid by Packlink - Again, had they read the WS, they would have realised this is not an issue in dispute. They probably haven't read your WS but did you account for this in your claim form?   Furthermore to the eBay Powered By Packlink T&Cs that Evri is referring to, Clauses 3b and c of the T&Cs states:  (b)   Packlink is a package dispatch search engine that acts as an intermediary between its Users and Transport Agencies. Through the Website, Users can check the prices that different Transport Agencies offer for shipments and contract with the Transport Agency that best suits their needs on-line. (c)  Each User shall then enter into its own contract with the chosen Transport Agency. Packlink does not have any control over, and disclaims all liability that may arise in contracts between a User and a Transport Agency This supports the view that once a user (i.e, myself) selects a transport agency (i.e Evri) that best suits the user's needs, the user (i.e, myself) enters into a contract with the chosen transport agency (i.e, myself). Therefore, under the T&Cs, there is a contract between myself and Evri.   This is correct but you have gone into this claim as trying to claim as a third party. I would say that you need to pick which fight you wan't to make. Either you pick the fight that you contracted directly with EVRi therefore you can apply the CRA OR you pick the fight that you are claiming as a third party contract to a contract between packlink and EVRi. Personally, I would go with the argument that you contracted directly with evri because the terms and conditions are pretty clear that the contract is formed with EVRi and so if the judge accepts this you are just applying your CR under CRA 2015, of which there has only been 2 judges I have seen who have failed to accept the argument of the CRA.   Evri cites their pre-existing agreement with Packlink and that I cannot enforce 3rd party rights under the 1999 Act. Evri has not provided a copy of this contract, and furthermore, my point above explains that the T&Cs clearly explains I have entered into a contract when i chose Evri to deliver my parcel.    This is fine, but again I would say that you should focus on claiming under the contract you have with EVRi as you entered into a direct contract with them according to packlink, as this gives less opportunites for the judge to get things wrong, also I think this is a much better legal position because you can apply your CR to it, if you dealt with a third party claim you would likely need to rely on business contract rights.   As explained in my WS, i am the non-gratuitous beneficiary as my payment for Evri's delivery service through Packlink is the sole reason for the principal contract coming into existence. I wouldn't focus this as your argument. I did think about this earlier and I think the sole focus of your claim should be that you contracted with evri and any term within their T&Cs that limits their liability is a breach of CRA. If you try to argue that the payment to packlink is the sole reason for the contract coming in between EVRI and packlink then you are essentially going against yourself since on one hand you are (And should be) arguing that you contracted directly with EVRi, but on the other hand by arguing about funding the contract between packlink and evri you are then saying that the contract is between packlink and evri not you and evri.  I think you should focus your argument that the contract is between you and evri as the packlink T&C's say.   Clearly Evri have not read by WS as the above is all clearly explained in there.   I doubt they have too, but I think their witness statement more than anything is an attempt to sort of confuse things. They reference various parts of the T&Cs within their WS and I've left some more general points on their WS below although I do think  point 3b as you have mentioned is very important because it says "Users can check the prices that different Transport Agencies offer for shipments and contract with the Transport Agency that best suits their needs on-line." which I would argue means that you contract directly with the agency. For points 9 and 10 focus on term 3c of the contract  points 15-18 are the same as points 18-21 of the defence if you look at it (as i said above its just a copy paste exercise) point 21 term 3c again point 23 is interesting - it says they are responsible for organising it but doesnt say anything about a contract  More generally for 24-29 it seems they are essentially saying you agreed to packlinks terms which means you can't have a contract with EVRI. This isnt true, you have simply agreed to the terms that expressly say your contract is formed with the ttransport agency (EVRi). They also reference that packlinks obligations are £25 but again this doesn't limit evris obligations, there is nothing that says that the transport agency isnt liable for more, it just says that packlinks limitation is set. for what its worth point 31 has no applicability because the contract hasn't been produced.   but overall I think its most important to focus on terms 3b and 3c of the contract and apply your rights as a consumer and not as a third party and use the third party as a backup   
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    • We have finally managed to obtain the transcript of this case.

      The judge's reasoning is very useful and will certainly be helpful in any other cases relating to third-party rights where the customer has contracted with the courier company by using a broker.
      This is generally speaking the problem with using PackLink who are domiciled in Spain and very conveniently out of reach of the British justice system.

      Frankly I don't think that is any accident.

      One of the points that the judge made was that the customers contract with the broker specifically refers to the courier – and it is clear that the courier knows that they are acting for a third party. There is no need to name the third party. They just have to be recognisably part of a class of person – such as a sender or a recipient of the parcel.

      Please note that a recent case against UPS failed on exactly the same issue with the judge held that the Contracts (Rights of Third Parties) Act 1999 did not apply.

      We will be getting that transcript very soon. We will look at it and we will understand how the judge made such catastrophic mistakes. It was a very poor judgement.
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      This is good ethical practice.

      It would be very nice if the parcel delivery companies – including EVRi – practised this kind of thing as well.

       

      OT APPROVED, 365MC637, FAROOQ, EVRi, 12.07.23 (BRENT) - J v4.pdf
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Mortgage Securitisation - Paragon V Pender Title to Sue Judgements - For Debate & Discussion


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anybody want to check out what info there are on these links

 

 

 

 

 

 

 

 

  • :spy:
     
     

http://www6.paragon-group.co.uk/pgroup.nsf/securitisationMainFS

 

here is a goodie --- it takes forever to load (when it does download suggest you save a copy amazing ino in there )

 

http://www6.paragon-group.co.uk/pgroup.nsf/nasec/5BDD369D99C49DBC802579270037E583/$FILE/02%20Mortgage%20Sale%20Agreement.pdf

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  • 2 weeks later...
Has any one read the papers, but you can't get the MORTGAGE SALE AGREEMENT or the CHARGE why is that?

 

For Accord this is the Mortgage Sale Agreement

 

http://www.ybs.co.uk/your_society/treasury/documents/transaction-documents/Mortgage-Sale_Agreem.PDF

 

And the Deed of Charge

 

http://www.ybs.co.uk/your_society/treasury/documents/transaction-documents/Deed-of-Charge.PDF

 

Wasn't hard to find, just googled Accord "mortgage sale agreement" and then Accord "Deed of Charge"

 

Hope these are of interest to you ITM?

 

Suggest you download a copy before they go missing

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Thanks wfspayback found it and downloaded it.

Yes I am looking into this BIG time and may be now found the way forward, have you read these Hopefully Suetouis will read these now as they show that the seller has transferred ALL rights to the mortgages to the TRUSTEE.

I think they will be removed soon!

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Thanks wfspayback found it and downloaded it.

Yes I am looking into this BIG time and may be now found the way forward, have you read these Hopefully Suetouis will read these now as they show that the seller has transferred ALL rights to the mortgages to the TRUSTEE.

I think they will be removed soon!

 

I have indeed read it...

 

6.2 For the avoidance of doubt, prior to the completion of the assignment, assignation, or transfer (as appropriate) of any Loan and its Related Security to the Issuer pursuant to Clause 6.1 , with effect from the Closing Date relating to that Loan and its Related Security legal title to each Loan and its Related Security in the Portfolio shall be vested in the Seller and sole beneficial title and interest shall be vested in the Issuer. Prior to perfection of the transfer of the legal title to Loans and their Related Security pursuant to this Clause 6, the Seller undertakes (to the extent that any of the following is vested in it) to hold all right, title, interest and benefit (both present and future) in and under (a) the Loans and their Related Security, following the acquisition of such Loans and their Related Security by the Issuer and (b) any sums that are or may become due in respect thereof, on trust for the Issuer (excluding from such trust any Loans which have been repurchased by the Seller).

 

6.3 Perfection of the transfer, assignation and assignment in accordance with Clause 6.1 of:

(a) the English Mortgages in the Portfolio shall be effected by means of a transfer in the form of

the relevant Land Registry Transfer set out in Schedule 2 (Register of Transfers);

(b) an SLR Transfer in the case of Mortgages over Properties title to which is registered in the

Land Register of Scotland (substantially in the form set out in Part 1 of Schedule 3);

© a Sasine Transfer, in the case of Mortgages over Properties title to which is recorded in the

General Register of Sasines (substantially in the form set out in Part 3 of Schedule 3);and

(d) the Loans and relevant Related Security shall be effected through notification to the relevant Borrowers and/or guarantors and/or insurers or other relevant third parties of the sale and transfer or assignment or assignation of the relevant Loans and their Related Security,

and, in each case, notice shall be given to each Borrower or any other relevant person of the sale and transfer of that Borrower's Loan and its Related Security to the Issuer and the charge by the Issuer of the Issuer's interest in that Borrower's Loan and its Related Security to the Security Trustee pursuant to the Deed of Charge.

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And?

you have also read the Master Definitions and Construction Schedule which you will NOT get.

Why have 6.3 if as it reads and I say if it reads PRIOR to perfection of the transfer of the legal title?

Like page page 3 1

page 4 3.1 (a)

3.9 page 6

3.16 page 8

22.1 page 32

23.3 (b) page 40 d and h?

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And?

you have also read the Master Definitions and Construction Schedule which you will NOT get.

Why have 6.3 if as it reads and I say if it reads PRIOR to perfection of the transfer of the legal title?

Like page page 3 1

page 4 3.1 (a)

3.9 page 6

3.16 page 8

22.1 page 32

23.3 (b) page 40 d and h?

 

Hello ITM?

 

Do you mean this Master Definitions and Construction Schedule ?

 

http://www.ybs.co.uk/your_society/treasury/documents/transaction-documents/Master-Definitions-a.PDF

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the issuer is BRASS PLc

and The SELLER IS ACCORD

 

Brass have no assets or money as usual Directors are all the same again.

 

Exactly, 6.2 of the Mortgage Sale Agreement confirms what the seller (Accord) will own and what the issuer (Brass) will own.

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  • 2 months later...

The issue I would like to clarify is the separation of the security and the debt obligation. What happens if the final end-user investor in the securitised package which included my personal mortgage goes bankrupt or simply vanishes. How would I know if my lender were continuing to collect (as trustee) on a debt it had already sold and was no longer obliged to service? Due to the reckless investments made and the way these securities were packaged and sold (mixing good debts up with sub-prime) many investors have gone bankrupt. How would the Official Receiver treat a securitised debt obligation? Where does my obligation end? I would really appreciate the highly informed views of this forum on this aspect of the debate. I hold a Northern Rock mortgage issued just before the crash when they were riding the sub-prime securitisation wave and I believe very little due process was followed in the scandalous mis-selling of these products. I think this may be another twist to this thread.

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  • 1 month later...

"The issue I would like to clarify is the separation of the security and the debt obligation. What happens if the final end-user investor in the securitised package which included my personal mortgage goes bankrupt or simply vanishes. How would I know if my lender were continuing to collect (as trustee) on a debt it had already sold and was no longer obliged to service? Due to the reckless investments made and the way these securities were packaged and sold (mixing good debts up with sub-prime) many investors have gone bankrupt. How would the Official Receiver treat a securitised debt obligation? Where does my obligation end? I would really appreciate the highly informed views of this forum on this aspect of the debate. I hold a Northern Rock mortgage issued just before the crash when they were riding the sub-prime securitisation wave and I believe very little due process was followed in the scandalous mis-selling of these products. I think this may be another twist to this thread."

 

Hope you don't mind, but I thought I'd try to add some clarity to assist your line of questioning...(you may need to read what I say more than once, because it took me a while to appreciate what I have found...and couldn't believe it either...given that lenders are rampantly re-possession consumers house without remorse)

 

This is my personal opinion only - when it comes to separation of the security and the debt obligation in relation to a disposition of an interest in land that relates to a mortgage,........... there is no separation within the Law that relates to dispositions of land for the legal interest (the security interest - normally referred to as the 'title to sue' 'cause of action' or right to possession) or the equitable interest (the debt obligation or CMI) for this to happen.

 

For this conclusion I began by considering the Sale of Goods Act - just to better understand the ambit of how a 'sale' occurs and what the underlying factors are that effect a 'sale'...

 

From there, I moved onto 'sales in relation to land' and researched 'trusts' - this threw up pieces of legislation that themselves directly relate and made sense (in my mind) to the finding that it is impossible for a lender to purport to 'sell' its interests in land that relates to a consumers mortgage yet retain a legal interest or a cause of action - one such piece of legislation was the Trustee Delegation Act 1999 - at section 10 - it's wording and my interpretation is that it clearly advises that if a sale agreement is accompanied by a power of attorney - together, these 'instruments' have the effect of divesting the lender of both its legal and equitable interest in the land that relate to the consumers mortgage as party to a securitisation financial collateral arrangement that creates a Mortgage Backed Security. ( I know its a mouthful - but I couldn't think of a simpler way of stating the point).....

 

Please note that I have introduced words here such as 'interests' instead of 'mortgage' - 'disposition' instead of 'sale' and 'interests in land that relate to a mortgage' instead of 'sale of the mortgage' or 'sale of the property' and also 'instruments' instead of 'Mortgage Sale Agreement' or 'Power of Attorney'....

 

Subtle differences, but I believe.....; more than significant in relation to the debate.

 

I do not find that the original lender should or could ever be found to be the 'trustee' in such an arrangement. You may already be aware that any prospectus for a securitisation agreement will insist (UKLA Listing Rules) that the 'Trustee' must be identified in the prospectus - if your Lender is identified within the prospectus - then, sure, your lender can refer to himself as the 'Trustee' - but this is most unlikely to be the case with most sub-prime lenders....

 

It is not a question as to 'what if the end-user investor goes bankrupt' that is of any concern to a consumer (IMO) - the question is....what are your rights as a consumer in the event you become aware that your lender has securitised your mortgage and what legislation is available to you to protect your interests in the land - your home.....

 

In my opinion, your obligation ends when you can prove in a court of law that the Law of the land says your obligation ended at the time and date that the lender disposed of its interests in the land in relation to your mortgage with the effect of disposing to the SPV rights that became extinguished as soon as the SPV paid a valuable consideration and registered its legal interest at Companies House without serving notice under s.1 LPA 1925 upon you.

 

There are of course a number of other considerations to be taken into account - and it is not as simple as stated above - but hopefully you will read into what I have posted to help clarify a few of the concerns you raise..........

 

Again, IMO, an Official Receiver in relation to the Lender and the SPV will be interested in who has the proprietary interest in relation to the land - that is to say, which one of them can prove first in line registration of their interest in the land.

 

Having gained a legal interest in the consumers land, it stands to reason (IMO) that the SPV in the event of its insolvency would look to the consumers property for redress. In Law, the Lenders bankruptcy should not affect the consumer - but as we know - it does and is affecting them on a daily basis (but, this is the legal issue that has yet to be brought and founded before the courts).

 

Long before a consumer can consider challenging a lender, you need to source and identify the 'instruments' that effected the disposition of its interest in relation to your land and mortgage (sale) and then consider what the status of your mortgage account was in at the time and date that the disposition was effected, this being because - if you were in actual default at the time of the disposition, you are likely to have an outcome similar to that found in the horsham case...albeit on different grounds, but essentially a similar outcome....

 

I hope this helps rather than confuses?

 

Apple

[COLOR="red"][B][CENTER]"Errors do not cease to be errors simply because they’re ratified into law.” [/CENTER][/B][/COLOR][B][CENTER] E.A. Bucchianeri[/CENTER][/B]

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Thank you so much for this. Once again the legal argument appears to fall strongly in favour of the consumer. Indeed every legal argument does as far as I have researched, yet no precedents have been set. Due to the massive implications to the banking industry I feel sure this is not something the courts are going to allow either, however obvious the legal argument put forward. My limited knowledge of the court system leads me to ask if a case such as this could be heard before a jury. If so, perhaps a hugely publicised class action could prevail. I am ready to try it if anyone wants to join me and willing to shoulder my proportion of costs. I believe in the US the "show me the note" campaign is having some success in individual cases, but again no class action has been launched. Whilst I can see the banks fearing and fighting this on every level, they only have the income from debt servicing to protect, having sold and been paid for the debt instrument long ago. This is far less morally defensible as well as legally defensible surely.

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Once again many thanks for your interest and insight. I am struggling with the legal complexities here but I am registering that the law is finding it difficult to uphold the principals of "having your cake and eating it". (To anyone interested, on re-reading my previous post I realise I meant to put "I" am ready and willing to shoulder my proportion of costs. This may not have been clear).

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you are likely to have an outcome similar to that found in the horsham case...albeit on different grounds, but essentially a similar outcome....

 

Apple

 

Hi Apple, can you tell me what the 'horsham' case was and where I can find that?

 

Ta

 

A1

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Hi Andrew1

 

This link will better explain that I may be able to: http://www.legalmortgage.co.uk/#/orders-for-sale-after-horsham/4538803765

 

Apple

[COLOR="red"][B][CENTER]"Errors do not cease to be errors simply because they’re ratified into law.” [/CENTER][/B][/COLOR][B][CENTER] E.A. Bucchianeri[/CENTER][/B]

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Please note in my main post above - where I refer to s.1 LPA 1925 in post '91' it should actually state: s.136 LPA 1925 (my keyboard is playing up)

 

Apple

[COLOR="red"][B][CENTER]"Errors do not cease to be errors simply because they’re ratified into law.” [/CENTER][/B][/COLOR][B][CENTER] E.A. Bucchianeri[/CENTER][/B]

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