Mortgage, CreditAgricole ,BirminghamMidshires, Halifa x, HBOS, CurtisSolicitors

[andrew1]

Good luck Tide, any help needed just ask..

[TideTurner]

Looking at Tom Brennan v Natwest very closely, possible result tomorrow..

[andrew1]

Was any of the case I sent you any use Tide?

[MilkTrayMan]

Hi TT!

 

Where've U been all my life??...

 

Here's a link to my 1st ever Post on CAG I've just found again...

http://www.consumeractiongroup.co.uk/forum/halifax-bank-bank-scotland/49329-bitter-soft-centres-anyone.html

...It kind of got lost in the mists of time somewhere!...

 

We may have got to have gone on a journey together, if I hadn't had been so distracted by life?!...

 

Have only just recently received letters from a commissioned DCA about HBOS wanting the shortfall money.

I was planning to dodge 'n' weave until the 'alledged' debt became timeserved next year sometime.

Now after reading YOUR Thread, I suppose I'll have to put my thinking head back on again!...

 

Best of luck in your own efforts!...

[TideTurner]

Hi All,

 

I've reached a point in my case where a part of it involves the undersale of my property and valuations performed.

 

HELP!!!!

 

If anybody believes their property has been undersold after repossession, I'd be grateful to hear from them.

 

I have Land Registry reports showing that my property was sold at less than 50% of others sold in the same area and same time period (quarter).

 

I'm particularly interested in disgraceful valuations, the Council of Mortgage Lenders guidelines and any precedents set which I could rely upon.

 

As far as I understand, there should be 3 independent valuations prior to sale (Council of Mortgage Lenders Guidelines).

 

If Colley's (owned by HBOS) performed the majority of them, are these independent?

 

Why was the identity of the valuers denied for 5 years?

 

Is there any association with other companies looking to pick up cheap properties when given the nod at great expense of those who are experiencing difficulties.

 

Please PM me if you don't want to post, all help appreciated.

 

Hunting....

 

Tide

[jansus]

Hi

 

what year are you talking about ? as the rules were only governed by the FSA from 2004

 

National debtline have a phone number for queries on selling price and valuations.

 

As I mentioned before I know there were certain rules when I worked for the Halifax in 1980s - but even then I think there may have been dodgy dealings within the Old boys club that none of us were aware of.

 

I would have thought if you can prove the sp was well below others at the time the onus should be on them to prove why and also that the agent was totally independant.

 

When I did google re-possessions a site came up - something like quick sale .co.uk - which gave tips on re-pos and mentioned that you should have received a letter within 28 days by re-corded delivery explaining all about the sale etc- but this may only be a recent rule.

 

If you give info on the BS and the year then maybe there is some archive material about.

 

Jan

[TideTurner]

Hi Jan,

 

Repo was in 2001, sale early in 2002. I know the old boys sold it, and know exactly who they are. Problem is proving it without extracting a confession.

 

I'll look into the other points you raised, although as time goes on it seems to get harder. Building Society was Birmingham Midshires, sold by Halifax Property Services, valued by Colley's (all owned by HBOS). Sold to a local builder with close links to the manager of the estate agent.

 

Many thanks

 

Tide

[jansus]

Hi

 

The fact that it was sold to a builder with links to the Bs is going to be difficult - as I understand that is common practice for these property developers to get the nod on any properties that are re-possessions in return for backhanders - extremely difficult to prove! I think your best angle is to try and find out if there was a perid of time when the property was marketed properly in national press /internet etc - Also to ask how many viewings and evidence of any other offers.

 

Also somehow they have to prove to you by sending you copies of the valuations that were done that they chose the best independant estate agent - if they have connections with the BS that owned the mortgage then they are not independant.

 

Do you still have any correspondence sent to you by the BS regarding the sale of the property?

 

Jan

[jansus]

Found this as well

 

 

 

The property will be sold to pay off the mortgage. This is achieved by auction or traditional estate agent.

The lender has a legal obligation to achieve the best possible price within reason, but it will likely be less than the market value. Usually the property will go through an estate agent first, if that fails then it will go to auction where the value will probably be massively lower.

The sale price is used to pay off the mortgage, if there is surplus then you should receive that, but if the sale did not raise enough to pay off the mortgage then you are legally bound to pay the difference.

 

If the property is being sold by an estate agent then make sure:

 

• You find out the exact date it was passed to an agent or agents.
  
• There is a for sale sign outside the property, if there is no sign then take a date stamped photograph.
  
• The property is in the estate agents window. If it isn't then go inside and ask for details about properties in that area, if it is mentioned then obtain the full details. If it is not listed then get the name of the sales person.
  
• Check the sales details and note the value of similar properties in that area
  
• Make sure the property is described accurately and mentions no upward chain or vacant possession. These are key positive sales factors that may help achieve a quicker sale.

Why go to this extent?

• Every day the property is unsold adds interest to the debt
  
• It prevents you moving on and costs you more.
  
• Because the property is a repossession the estate agent has instructions to sell it quickly and therefore cheaply which means their commission would be less than for a similar one at market value.
  
• If there are few buyers around, they will push the one that gives them more income.
  
• Remember that estate agents usually are paid from sales commission rather than a basic salary.

Undervalued repossession properties

 

If you can prove the property has been undervalued, you can ask the courts for an injunction to prevent a sale. This can be done at any time before the completion date. Lenders (mortgagees in possession) have a legal responsibility to get the best price for the property that can reasonably be obtained. If you think your lender has failed to get a fair price, get advice from a solicitor. You may be entitled to compensation.

 

Stopping a sale due to a change in circumstances

 

It may be possible to stop the sale if you can raise the money to pay off your debts soon after the eviction. If you want to do this, you need to act quickly; and apply for an injunction to stop the sale of your home while the arrangements are made. If contracts are exchanged with a buyer before you do this, you can't stop the sale from going ahead.

[jansus]

BBC Inside Out -

 

 

interesting reading

 

jan

[TideTurner]

Very interesting Jan,

 

As you say, we know it goes on, and is rife throughout the industry, but proving it is a different matter.

 

I'm sure that if there was an investigation into the dealings and lines of communication with these people, it wouldn't be long before the old boys club is identified in every area, if they haven't been already.

 

I am also certain that there are many 'victims' who are determined to hunt down these pillagers, with the internet providing information and communication which until recently has been unavailable.

 

The clock is ticking.

 

Thanks to those who PM'd me, all information in strict confidence and much appreciated.

 

Keep 'em coming and happy hunting.

 

Tide

[jansus]

Hi just wondered how things are going.

 

Hope you had a bit of a rest over christmas

 

Jan:)

[TideTurner]

Hi Jan,

 

Having a good old rest, as this won't be resolved until the New Year. Hope you are too, and here's wishing yourself and all the other members of this site every success for 2008.

 

With a bit of luck, it should start with a bang!!

 

All the very best Jan, I'll post when I'm in a position to, hopefully early 2008.

 

Happy New Year

 

Tide

[andrew1]

 

With a bit of luck, it should start with a bang!!

 

 

Happy New Year

 

Tide

 

Tide, you have the power of a horse, you don't need luck anymore when the resources we have all found within ourselves are here at the click of a mouse.

 

I, for one, admire what you have done to date, through the adversity you have gone through you have inspired and helped so many others too without thought for yourself. Your 2008 will be memorable as I know will numerous others on CAG who have battled thus far.

 

To you Tide, I wish you the happiest of years ahead and to others who are just beginning take this man as an example. Empower yourselves, realise there is a way through the darkness and that you will never be alone again no matter what you are experiencing, just like so many of us have and look to the future with bright eyes. A happy new year to you all, and Tide - Thank you for being an inspiration.

 

 

Sarah

[TUTTSI]

Tide, you have the power of a horse, you don't need luck anymore when the resources we have all found within ourselves are here at the click of a mouse.

 

I, for one, admire what you have done to date, through the adversity you have gone through you have inspired and helped so many others too without thought for yourself. Your 2008 will be memorable as I know will numerous others on CAG who have battled thus far.

 

To you Tide, I wish you the happiest of years ahead and to others who are just beginning take this man as an example. Empower yourselves, realise there is a way through the darkness and that you will never be alone again no matter what you are experiencing, just like so many of us have and look to the future with bright eyes. A happy new year to you all, and Tide - Thank you for being an inspiration.

 

 

Sarah

 

Here Here, I could not agree more..... Happy New Year and a healthy and prosperous one and I look forward to hearing all your news next year.

 

Dsxx

[steven4064]

Sarah

 

I'll drink to that

[elizabeth1]

Sarah

 

I'll drink to that

 

Me too - Here's wishing everyone a brilliant New Year!!

[TideTurner]

Hi All,

 

Has anybody heard of any change of name for the Council of Mortgage Lenders to the Committee of Mortgage Lenders?

 

Why the sudden change of name?

 

Were the Council of Mortgage Lenders a Limited Company? What status (partnership etc) do they hold now? If so, have peoples records been transferred from one to the other to avoid any litigation?

 

Hmmmmmm...

[elsinore]

There's nothing on the CML website, Tide.

 

I googled Committee of Motgage Lenders and got zilch!

 

Els

[TideTurner]

Els,

 

This is listed on the recent online credit checks with Experian and Equifax. The standard check was done against Council of Mortgage Lenders, but my online check tonight is against the Committee of Mortgage Lenders.

 

Are they moving the goalposts? Let's not forget that the original database was developed by the FOS who dropped it like a hot potato after they realised the implications of the DPA 1984/98. However, they didn't destroy the data they had amassed, they passed it illegally to a private firm who made a very profitable business out of its provision to anybody who would pay for it.

 

There are many mortgages in existence which do not provide a term or clause whereas the mortgagor has a right to provide the CML with your personal data, and now would be an ideal time to switch identity from Council of Mortgage Lenders to Committee of Mortgage Lenders. And, by the very fact they can't be googled shows this to be a stealth move.

 

Same old story, fold a company, open something untouchable. Out of the ashes a Phoenix?

 

Tide

 

Hunting...

[elizabeth1]

Mmmm!!! Fishy!!!

[elsinore]

Sorry Tide, but I am puzzled!

 

This is listed on the recent online credit checks with Experian and Equifax. The standard check was done against Council of Mortgage Lenders, but my online check tonight is against the Committee of Mortgage Lenders.

 

Do you mean you are running credit checks on the CML?

 

Let's not forget that the original database was developed by the FOS who dropped it like a hot potato after they realised the implications of the Data Protection Act 1984/98.

 

Which database do you mean?

 

Els

[andrew1]

I would also like to know the name of the private company that were given these details if you know them Tide? PM me if you prefer..I'm following a few trails just now.

 

I searched Companies House and my own credit checking system for companies and found nothing on the Committee

 

Cheers

 

Sarah

[TideTurner]

Sorry Tide, but I am puzzled! Do you mean you are running credit checks on the CML? Which database do you mean?

Els

 

No Els,

 

I ran a credit check on myself a couple of days ago with checkmyfile.co.uk , and got the security key through today. This enables you to check your credit score, and details of any CCJ's against you, Fraud, Searches against you, CML, Electoral Register etc.

 

When you click the mortgages tab, it says the information is provided by the Committee of Mortgage Lenders.

 

I'm also confused, and a bit concerned.

 

I have made an S.A.R - (Subject Access Request) to the Council of Mortgage Lenders in the past and received nothing, and they don't appear to have any watchdog or ombudsman except the Information Commissioners Office??

 

Tide

[TideTurner]

I would also like to know the name of the private company that were given these details if you know them Tide? PM me if you prefer..I'm following a few trails just now.

 

I searched Companies House and my own credit checking system for companies and found nothing on the Committee

 

Cheers

 

Sarah

 

Hi Sarah,

 

Searched Companies House myself earlier and found nothing, but more concerned that they can't be googled or yelled etc.

 

OK. A pint for whoever finds the first info..

 

I guess they are a Limited Partnership.

 

Tide