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Peterjm and SPPL


Suetonius
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Please everyone give PeterJm a warm CAG welcome. He is new to CAG and is having a few problems with SPPL. So I thought I would help him by creating a thread for him, I didn't want his request for help to become lost in LD's thread.

 

I am worried about my loan and need some answers....

 

........I have a secured loan with SPPL I have watched this thread with interest over several months as a guest never feeling the need to register.I have been driven to my wits end by the activities of yes you've guessed it,Capstone.They have started it seems their usual tactics of lost payments and consequent arrears charges,yet I have had up to this time a perfect record,logical dialogue with them is an impossibility.

 

I feel compelled to register here as I have seen several notifications that the legal charge to my loan is about to be transferred.These notifications have then suddenly disappeared without reason or explanation from anyone which is baffling. I have learnt that my loan is about to be transferred to someone I have never heard of,what difference will this make to me?Can anyone explain if SPPL are no longer to be the owners how do I go on about making a complaint against them.?

 

pjm

 

It might be an idea to provide a little more information relating to circumstances, so that fellow Caggers can provide you with answers to your specific questions

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Hello Peterjm

 

Let's start with the basics

 

Is your loan regulated by the CCA ?

Do you know who the new owner is ?

Have you received a notice of assignment ?

If so, can you post a copy so that everyone knows what it says and other SPPL borrowers will know what to expect.

 

Many Thanks

 

Sue

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Thanks for that ,however I do feel isolated and out of the main stream here.

1)Have made a complaint to the Land registry re the imminent transfer of the charge as evidenced by a notice to noteholders (used the mortgagefunding 08-1 notice)

2)Have amended the objection to delete the FSA regulated argument as it may apply only to spml/pml first charge loans as sppl as has been rightly said is in the main CCA regulated.

3)My objection is based on the grounds that I have a monetary claim against SPPL who may be seeking to divest themselves of liability by the transfer and have issued no reply to my question that contracturally will my claim be transferred to the proposed new owners.

4)I have started a complaint with the FOS going through the usual procedure to reclaim the unfair charges levied on my account by capstone in the name of SPPL.

 

I think thats all I can do at present..

I HAVE NOT RECEIVED AS YET ANY NOTIFICATION OF TRANSFER.

I feel in bouncingbetty land here ie on my own an on a limb so I will repost this on the spml main thread as the problem lies with capstone so this is common ground to all.

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Thanks for that ,however I do feel isolated and out of the main stream here.

 

Don't feel like that Peterjm, every thread has to start someonewhere.

 

I was just concerned because you said you was "at your wits end" and didn't want your questions to be lost.

 

 

1)Have made a complaint to the Land registry re the imminent transfer of the charge as evidenced by a notice to noteholders (used the mortgagefunding 08-1 notice)

 

Have you heard anything from the Land Registry so far, that you can share we everyone. I think a test case such as yours will be very important for everyone to know about.

 

2)Have amended the objection to delete the FSA regulated argument as it may apply only to spml/pml first charge loans as sppl as has been rightly said is in the main CCA regulated.

 

There are a high number of loans that are unregulated due to the exceptions in the CCA

 

3)My objection is based on the grounds that I have a monetary claim against SPPL who may be seeking to divest themselves of liability by the transfer and have issued no reply to my question that contracturally will my claim be transferred to the proposed new owners.

 

I need to look further into reasons you can object to the transfer of a charge. I know it is far from being black and white because of the terms in the agreement agreeing to assignment and on some deeds of charges also including this term.

 

4)I have started a complaint with the FOS going through the usual procedure to reclaim the unfair charges levied on my account by capstone in the name of SPPL.

 

Your very quick off the mark considering when the notice to noteholders was issued:

http://moneyam.uk-wire.com/cgi-bin/articles/201008121414340009R.html

 

The FOS might tell you that you have to give SPPL eight weeks to respond before they can assess the complaint.

 

I think thats all I can do at present..

I HAVE NOT RECEIVED AS YET ANY NOTIFICATION OF TRANSFER.

I feel in bouncingbetty land here ie on my own an on a limb so I will repost this on the spml main thread as the problem lies with capstone so this is common ground to all.

 

If you have not recieved notification of transfer, in your email to the Land Registry to who's application did you object too ?

 

When I spoke to the Land Registry the person I spoke to, said that an application has to be made before someone can object to it.

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Its amazing how people are apathetic to situations many must find themselves in,this is why capstone and co invariably win.

I've learnt a lot already from reading different sites,the info is all out there and also posts here and I'M NOT GIVING UP.

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Its amazing how people are apathetic to situations many must find themselves in,this is why capstone and co invariably win.

I've learnt a lot already from reading different sites,the info is all out there and also posts here and I'M NOT GIVING UP.

 

Friendly piece of advice, don't believe everything you read, this equally applies to my posts..

 

Always investigate and double check facts for yourself. A classic example is that a criminal offence is being committed under the LRA 2002.

 

Sadly, I have seen this often said and sadly often quoted. However, when looked at what the legislation actually states, the argument just does not stand up to scrutiny...

 

Both the template letter and the article you posted from another place, were both filled with inaccuracies but worryingly given as advice. (not by you but the person that originally wrote them)

 

This has always been my biggest bug bear... People give advice, without for a moment considering the responsibilities they have to ensure it is correct or the liabilities of giving incorrect advice... They are dealing with peoples homes and lives.....

 

I have never been here to win friends or a popularity contest, I just try to ensure people (as you said) don't use arguments that make them look like idiots..

Edited by Suetonius
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