Swift

[dch74]

hi all

 

I have read alot of peoples posts and realise we are not the only ones who have had problems with Swift. I will explain all but it is very long winded so be prepared.

 

In 2003 a morgage advisor helped us to remorgage so we could start a business of our own, the advisor put us in touch with Southern Mortgages, who said they could so the remortgage and give us the necessary funds to start our project. Southern turned out to be a sister company to Swift. On the day of completion of the remortgage I was told to attend their office so I could sign the paperwork and then arrange the transfer of the funds.

 

When I arrived, I was asked where my wife was as she had to sign for the funds aswell. I told them that she was at home and that we were told by southern that I could do it on her behalf as long as I had her ID, there was a big fuss over this and I was told they would have to fax her and ask her to return the fax signed and then they would release the funds (lucky we had a fax at the time). Finally they released the funds but not the way I was told it would be, they gave me 2 cheques one in my name and one in my wifes, the remaining balance of the mortgage split between cheques. I told them it was meant to be an electronic transfer not cheque, but they told me thats how they do things, then they gave me a sheet of paper to sign for the cheques and the paperwork was in the name of swift advances, I was then told that they were the parent company and that they are the holders of my remorgage and southern would known as swift from now on.

 

A year passed and we started to have problems with the business and we missed a payment on the mortgage, we contacted swift and asked them if they could give us a second charge on the mortgage and release some more funds. They told me they could not help and to seek other companies willing to help with a second charge. I did this straight away and found a company to help, they did the paperwork and proceeded to contact swift to put second charge in place. The next thing i get a phone call from the s/c company telling me swift doesnt allow second charges and that I should contact them. I got on the phone to swift and was told that they dont accept second charges, so I asked to speak to the person who told me they could and I was told they no longer work for the company, so I asked to speak to the manager, the manager said there was nothhing he could do and the only person who could make that decision was the MD, so he put me through to the MD Mr Bernard Berwick I think that was his name, he said that he would allow the second charge and would let the agent dealing with my case know, I ended the call feeling relief.

 

I contacted the SC company to let them know the good news, they then went through the motions again. after 2 weeks of toing and froing the SC decided enough was enough and told me that they could not speak to my agent at swift and that they were blocking all attemps to add the second charge and that I shoud contact swift to sort it out. I was furious and contacted swift, I too had problems getting hold of my agent and Mr Berwick, then I was told to ring back at 11 am the next day to speak with my agent as that is when they will be next in.

 

The next day at 0930 a woman turned up at my house with a locksmith and told me that they were court baliffs and that they had a reppossession order and that I was notified last month by the court that this was going ahead today, I explained to her I knew nothing of this and what was happening with swift, she told me to attend the court and get a stay of execution, so I did and was given a court date for the next day.

 

I turned up to court with all the paperwork I had and was approached by a solicitor for swift, he was very polite and we discused what had happened, he was very nice and said this sounds like misscomunication and that he would reccomend to the court noaction to be taken and for swift to sort out this problem, we were now 2/3 months in arears thats all and had been in contact with swift from begining. Inside the court room the solicitor used everything I had told him to hhis advantage making me out to be the worst person in the world and that his client was the perfection of morals. I was horrified at what was happening, the judge asked me my side, I told her everything from start to present and also what swifts solicitor did and said outside the court room, she read my documents and asked swifts sol if this was correct he said he knew nothing of my case. The judge rulled in my favour and told us to reattend in 2 months and she hoped this would be sorted out and that swift should honour their agreement with me.

 

2 months later we still could not get swift to sort anything out and decided to remortgage with a different company but we were face with the same problem, swifts refusal to deal with companies who were taking on our mortgage, so back to court I went. I got the same judge(this time I refused to talk to swifts solicitor, I learnt that the hard way last time), I told the judge all the problems with swift, swifts solicitor denied any wrong doing and stated we had done nothing to change morgage companies, but my paperwork and a fax to the court from my remortgager stating problems with swift helped. The juge again rulled in our favour and left a standing order that all interest to be frozen and that swift is to produce to the court all phone call recordings of our coversation fron the begining of the dispute and all paperwork from swift regarding my case for 4 weeks times next hearing.

 

4 weeks later I attended court, but no swift. the judge said this is a common tactic and that by not turning up that they will reapply and hope to get a different judge, but this will not be happening, she put on the file should swift reapply its to come back to her.

 

sure enough the following month I got another summons, by now all attempts to remortgage had failed and I was offered a job abroad and we as a family decided to sell up an move, so I put house on the market and we started getting viewings, christmas was only one month away and for the last year of being in battle with swift was taking its toll but there was light at the end of the tunnel.

 

I attended court in the december 05 as requested along with swift (the solicitor was very peeved that it was the same judge, even his face couldnt hide that one ), The judge asked for all the paperwork and the phone call recording that she had requested last time, the solicitor said he did nnot have them and that he had requsted them but because this was a reappplication he did nt think he needed them, the judge put him straight saying that if he wants to treat the court in this way he will be found in contemp. So another adjournment till feb o6.

 

Feb 06 all was good we had a buyer for the house that week of the hearing and conveyancers were now trying to get a redemption figure from swift and were getting no response. So at the hearing a different solicitor from a different company turned up and the judge was not amused, she asked where the documents were that she requested, but the solicitor said she was only instructed last night and knew nothing of the case and that it was a straight forward repossession, judge ordered her to bring the documents by Aprils hearing or Swift will be charged with wasting court time and contemp of court ( she was furious swift was playing this game with her, I quite like this jugde she had huge balls and didnt take rubbish from people), I told the judge of the pending sale and that swift were dragging their feet on the redemption figure so the judge adjourned the hearing for an hour so swifts solicitor could get a redemption figure from swift. An hour went by and swifts solicitor finally came through with the redemption figure and told us one has been faxed to my conveyancers aswell, the balence owed to us after paying everything would be £67000. I was told to reappear in april 06 with an update and hopefully signed contracts.

 

April 06 I went back to court with letter stating completion for May 06 2006, no swift again, judge said she was happy itwas coming to an end and good luck with job abroad and away I went.

 

May 06th we moved out put everything in storage and moved in with family, whilst arranging the move abroad. We got our moving dat for sept 06 so we private rented for a few month until we moved, there were hesitations on moving abroad from the famiily and it was looking unlikly we we going to go, so we put our daughter back in school for september, so in August 06 we went to get the uniforms for them only to find no money in the bank, it was there as we had used some of it but now it was gone, the bank told us it was a reverse chaps payment done at end of july 06, and that the conveyancers had taken the money back.

 

WE were straight on the phone to the solicitors to find out what had happened to our money. We were told that the redemtion figure was incorrect and that charges were not added and that a day after we moved out because the figure was incorrect and swift had not got their money the repossessed the house from the new owners but betwwen swift, the new owners solicitor and or conveyancers it was sorted out that the new owners allowed in the house and the correct funds paid to swift and the convayancers reversed the payment to me and got thehir money back.

 

I went to a solicitor in london who had been reffered by the hhigh courts office and started proceedings against swift for huge charges that were not right. The Solicitors said we had a good case and started work.

 

Sept 2007 the solicitor tells us that because we signed the mortgage papers twice it indicated that we accepted all terms and conditions, an in the small print it states they can charge a varied rate. this is what pushed up the amount we socalled owed, he said that the contract would have to be sent to a contract specialist to see if this is legal. in May 08 I aked what was happening withour case and was told that our case is still with specialist and that wew were at the botton of pile because of more important cases above our and that it was a waiting game, but until there was a change in this that our case was now not being worked on. In 2009 there was still no progression from the solicitor or the contract solicitor and we were told we could claim about £5000 back in unfair charges but the rest of it is still awaiting the contracts legality and that if we claimed the small amount it would mean we acepted it as final settlment.

 

I dont know how long are we meant to wait or should we get the small amount and quit, I dont like the thought of losing our money to swift and will still fight to get it back but I feel the solicitor is dragging his feet as our case is not much good to him, so now I post here hoping someone here can help with a way forward.

[Sparkie1723]

Can you clarify the name of the Company ...you say Southern Mortgages?

 

Can you provide their address.

 

the first point that jumps out on me is that you appear to have made it clear that you wanted the loan to start up a business........that would mean you requested a business loan ...is that correct?

 

If so Swift should not have lent you the money they are excluded from making business loans.....contact the OFT by phone or E-mail and explain this to them .......this issue spells even more trouble for SWFT ....it is highly likely that you will get all your interest and charges back on this one and possibly have your agreement declared unlawfully mis sold...you could also have a case for a complaint to the legal complainrts Service about the solicitor ....he should have spotted that it was a business loan and that SWift are barred from these types of loan.

 

 

sparkie

[Smarterchick]

I'd suggest a Subject Access Request and ensure you have the

 

'Actuarial Accrual Summary Sheet'

 

to go with it without fail as this will give the low-down on your charges, interest rates, dates the lot. - sounds horrendous - welcome to the club. They don't give this out usually.

[dch74]

I'd suggest a Subject Access Request and ensure you have the

 

'Actuarial Accrual Summary Sheet'

 

to go with it without fail as this will give the low-down on your charges, interest rates, dates the lot. - sounds horrendous - welcome to the club. They don't give this out usually.

 

 

Thanks for this, our solicitor got this and I am now looking for another solicitor to take up where he left it, because I dont think the origional solicitor is taking it seriously.

[Sparkie1723]

Have you contacted the OFT? and again can you provide the full name of Southern Mortgaes as it was when you made first contact with them?

 

Have you any headed paper corresspondence etc from them with the name of Southern Mortgages on?

Was it one of these companies?

 

Name & Registered Office:

SOUTHERN MORTGAGE CENTRE LTD

8A CROMWELL ROAD

HOVE

EAST SUSSEX

BN3 3EA

Company No. 05877776

 

 

Name & Registered Office:

SOUTHERN MORTGAGES LIMITED

THE CUSTOM HOUSE

112B HIGH STREET

MALDON

ESSEX

UNITED KINGDOM

CM9 5ET

Company No. 06561288

 

 

 

 

 

Can you supply the name of the mortgage advisor was that a firm or a self employed advisor?

 

Sorry for so many questions but we need this type of information to be able to deduce how we can help in the easiest and quickest way.

 

sparkie

[dch74]

Have you contacted the OFT? and again can you provide the full name of Southern Mortgaes as it was when you made first contact with them?

 

Have you any headed paper corresspondence etc from them with the name of Southern Mortgages on?

Was it one of these companies?

 

Name & Registered Office:

SOUTHERN MORTGAGE CENTRE LTD

8A CROMWELL ROAD

HOVE

EAST SUSSEX

BN3 3EA

Company No. 05877776

 

 

Name & Registered Office:

SOUTHERN MORTGAGES LIMITED

THE CUSTOM HOUSE

112B HIGH STREET

MALDON

ESSEX

UNITED KINGDOM

CM9 5ET

Company No. 06561288

 

 

 

 

 

Can you supply the name of the mortgage advisor was that a firm or a self employed advisor?

 

Sorry for so many questions but we need this type of information to be able to deduce how we can help in the easiest and quickest way.

 

sparkie

 

Hi it was a self employed mortgage advisor, Spml southern pacific mortgage limited and I think I still have somethings

[Sparkie1723]

Southern Pacific Mortgages are not a sister company of Swift ...they have nothing to do with Swift or any of their companies ...I think yu are confused to be honest ...no offence meant ........but find your original agreement and see who it is with ........if it SPML then I would advise you to post on the SPML thread ....unless you did finally end up signing with Swift but it is not clear fromyour posts what actually happened.

 

sparkie

[dch74]

Southern Pacific Mortgages are not a sister company of Swift ...they have nothing to do with Swift or any of their companies ...I think yu are confused to be honest ...no offence meant ........but find your original agreement and see who it is with ........if it SPML then I would advise you to post on the SPML thread ....unless you did finally end up signing with Swift but it is not clear fromyour posts what actually happened.

 

sparkie

 

What iwas trying to say was, the mortgage broker put us with Spml, Spml passed it to swift and when I questioned it I was told they were the sister company. It was another of their lies they (swift) loved to tell. After all this happened and I looked into them I found a lot of their lies and I also heard from people of swifts conning tactics when repossessing houses.

[dch74]

I still have some paperwork from spml, I cant remember the mortgage brokers name but I do remember he had his office in a custom built building at the end of his garden. I didnt contact oft because we had a solicitor dealing with it, I posted on here because I wasnt sure on what to do next as the solicitor has stalled on it and I really would love to get back the money swift took from us.