Mariknub v Swift - 2nd charge loan up to age 88!!

[determindator]

As this loan is signed by you alone I fail to see how they expected the premiums to be affordable after your personal work income would come to a stop.To know this is a likelihood is unfair to you. I think this loan should be alterd by the Judge so you can repay it and keep your home. As above, POC and defence for us to view and please let us know if you need help to do this, as if any probs someone else can hopefully do it for you. Late now so will be back tomorrow and I will chat to Caro so we can all put our thoughts as to the solution to put to the Judge.

Edited January 12, 2012 by determindator

[determindator]

Have pm'd you M and will catch up later.

[cantona1509]

Have pm'd you M and will catch up later.

 

My parents have a loan with these and are in arrears they borrowed 34k on a mortgage and will be 90 when it is suppposed to be paid up.

 

because of the arrears more like a 100 years old im looking for help as they have paid 20k back and still owe 42 k after originally borrowing 34 can someone please help or is sparkie still about?

[Mariknub]

Hi everyone,

 

I have a new problem in addition to my ongoing Repossession case !My local council have informed me they are withdrawing the loan, arranged through them and finally agreed in November 2011, as they have been informed by Swift that there is a Repossession hearing ongoing and so they have withdrawn the funding agreed!

 

The loan was due to the fact they had stopped doing grants for housing renovation/repairs for which I had been on the waiting list for 2 years.I was then told I could instead access £8000 for essential repairs to my roof and Wessex Loans would put a charge on my house.This was done and signed and sealed in November and I had scaffolding go up and some essential emergency repairs were done (£1750), and the main work was scheduled in the better weather in March/April this year. The scaffolding stayed up.

 

When Swift notified both the council and Wessex(due to charge already on), the council contacted the roofer and told him to not do any further work - with no explanation!

 

He naturally contacted me and I contacted the council. I pointed out that I have a very good case against Swift etc. etc. and will not be repossessed BUT even in worst case scenario, all it would mean for the council would be that they would get their money back quicker, as I have over £100,000 equity !

 

They replied they had taken legal advice and could not risk council money. The next day I got a letter from Wessex regretting the turn of events and saying they will remove the charge ( Probably tomorrow- unless I can stop them!)

 

I have written back to the council and am also mentioning their liability for work already done, scaffolding etc.and appealing to them again to reinstate the loan, as I desperately need this work done as the roof is very bad, and this was the only way I could get it done!

 

I intend threatening to contact the local government ombudsman.

 

Can they go back on the agreement like this? Is it legal?

 

I am devastated as I now have yet another fight on my hands, alongside Swift!

 

Any info. or suggestions very welcome!

 

Many thanks !

[citizenB]

I dont think you should make threats of actions unless you intend to carry them through

[caro]

If you start a thread of your own cantona, I'm sure people will help all they can.

[Mariknub]

I dont think you should make threats of actions unless you intend to carry them through

Hi,

 

I will do it if there is no other way - not just idle threats !

 

Does anyone know if it is actually legal as the loan agreement is between me and Wessex loans, as I have not breached any of their conditions ?

 

Thanks,

 

M

[citizenB]

To be honest, I simply dont know - I have flagged your thread for site team.

[Mariknub]

Thanks,

 

M.

[caro]

This may help in your case against Swift Mari. http://www.govanlc.com/MissellingCC.pdf

[determindator]

I'm so pleased the argument of miss-selling credit is gaining momentum, love it Caro:-D:-D

[Mariknub]

This may help in your case against Swift Mari. http://www.govanlc.com/MissellingCC.pdf

Hi all,

Yes thanks Caro ....will use it ! Speak again soon,

 

Regards,

 

M

[andrew1]

I haven't the time right now to go back over the threads, but is Mari's loan an interest only loan by any chance?

[Mariknub]

I haven't the time right now to go back over the threads, but is Mari's loan an interest only loan by any chance?

 

No it's not, Andrew...Thanks for help and interest...M

[woody955]

Swift is a business that I had never heard of until the death of my father aged 78. I have collected a large amount of paper work and found that he used Swift to help finish a house he was building for himself - the Bank had already refused to lend him the £14k outstanding needed to finish the work.

He was 72 when the loan was taken out over a 25 year period. He was a self employed market trader with little to no income.

 

I can not understand why anyone would lend him monies with so clear a prospect of him never being able to make the repayments. The house is up for sale and Swift are piling on the interest on a daily rate. Anyone know how the family stand when dealing with them and who would be the best persons to contact?

[John 1963]

I would suggest starting your own thread mate and post all the info you have available

[andrew1]

Swift is a business that I had never heard of until the death of my father aged 78. I have collected a large amount of paper work and found that he used Swift to help finish a house he was building for himself - the Bank had already refused to lend him the £14k outstanding needed to finish the work.

He was 72 when the loan was taken out over a 25 year period. He was a self employed market trader with little to no income.

 

I can not understand why anyone would lend him monies with so clear a prospect of him never being able to make the repayments. The house is up for sale and Swift are piling on the interest on a daily rate. Anyone know how the family stand when dealing with them and who would be the best persons to contact?

 

I'd suggest an Unfair Relationship under Section 140 of the Consumer Credit Act - go seek legal advice. You'll need it against this lot.

 

 

A1

[citizenB]

Swift is a business that I had never heard of until the death of my father aged 78. I have collected a large amount of paper work and found that he used Swift to help finish a house he was building for himself - the Bank had already refused to lend him the £14k outstanding needed to finish the work.

He was 72 when the loan was taken out over a 25 year period. He was a self employed market trader with little to no income.

 

I can not understand why anyone would lend him monies with so clear a prospect of him never being able to make the repayments. The house is up for sale and Swift are piling on the interest on a daily rate. Anyone know how the family stand when dealing with them and who would be the best persons to contact?

 

 

Woody, if you would like to start your own thread, I am sure there will be lots of people who would be able to offer advice.

 

I thought lenders weren't allowed to lend monies where the term would be after a certain age !

[determindator]

How much was borrowed so we know if it is a regulated loan or not. A1 has posted A1 advice. A solicitor is a great first step.

Edited October 29, 2013 by determindator