Mortgage Express threatening LPA receivership

[aptb74]

I would like to know what people think about one party of a agreement instructing and imposing an agent on the other party to an agreement. My view is that it is unlawful, and in any case if the mortgage company appoints an agent to represent your interest if your agent is not representing your then surely you must be able to dismiss 'it'.

 

Also, if an agent is appointed, there must be a contract of appointment, who are the parties to these contracts, and who has signed it - These people are very tricky and slippery and something I will be looking into further. If anyone has a view on this please share.

[asokn]

I would like to know what people think about one party of a agreement instructing and imposing an agent on the other party to an agreement. My view is that it is unlawful, and in any case if the mortgage company appoints an agent to represent your interest if your agent is not representing your then surely you must be able to dismiss 'it'.

 

Also, if an agent is appointed, there must be a contract of appointment, who are the parties to these contracts, and who has signed it

 

Section 101(1)(3) of the Law of Property Act 1925 contains the power to appoint a receiver so it is not unlawful. As for the contractual right to appoint, there will be a clause in your mortgage terms and conditions which allow for this.

 

The idea of the agent not acting in the principal's best interests is a tricky one and something I have been concerned about for a while. I don't know but I imagine the argument is that the agent is acting in your best interests by taking steps to discharge your indebtedness to the lender, even if he does that in ways you wouldn't.

[aptb74]

Section 101(1)(3) of the Law of Property Act 1925 contains the power to appoint a receiver so it is not unlawful. As for the contractual right to appoint, there will be a clause in your mortgage terms and conditions which allow for this.

 

The idea of the agent not acting in the principal's best interests is a tricky one and something I have been concerned about for a while. I don't know but I imagine the argument is that the agent is acting in your best interests by taking steps to discharge your indebtedness to the lender, even if he does that in ways you wouldn't.

 

Yes, but the law of property act does not say that you can not dismiss the agent that has been appointed by the lender. Common law would say that you can dismiss an agent, and as you have not signed a contract if you disaggree with the appointment you should be able to dismiss the appointment. I think there is an assumption that the principal does not object to the appointment. And as I said before where is the contract and who is the appointed - Does the agent sign the contract on your behalf - there seems to be a clear conflict of interest here, and a lot of instructions. In signing the mortgage deed does one waive in rights under common law, and if so where was this disclosed prior to the signing of the mortgage?

[asokn]

But you have signed a contract; it's the mortgage terms and conditions as I have said. That allows the lender to appoint a receiver who then steps into the borrower's shoes. What contract are you referring to when you ask if the agent has signed it? The receiver will agree to the appointment in writing with the lender if that is what you mean?

 

I've already said I'm not sure of the power to dismiss the receiver but I've given a point of view on that and hope others will chip in.

[aptb74]

The contract which I am talking about is the terms and condition of the 'agent's' appointment, what payments he received, his duty's and responsibility to the borrower, to the tenants. I know what I would do if someone appointed an agent to act on my behalf without my permission, without consultation and without due process. I would dismiss them straight away, by not dismissing them you are giving you consent and agreeing that you are incapable of handling your own affairs, and managing your own assets. You are also agreeing that anyone who is brought in to act as your agent will do a better job than you. Hence, no consultation with lender or receiver, no feedback or reporting; and most importantly no accountability to you.

 

One of the main problems that is preventing people, who find themselves in the position where a lender has appointed someone to act on their behalf, is that people are looking in the wrong place for the answers. You will not find you answers in the unilateral contract that exist in the form of your mortgage, you have to look to the wider law, in particular the common law. As far as my understanding goes, one party can not impose an agent on another without first proving that the party concerned is incapable of acting for them self or given them explicit permission to do so.

 

Now, the fact that I may have been in two months arrears does not mean that I am incapable of managing my mortgage, even if the terms and conditions say that I am incapable. If the terms and conditions defined you as a 'banana', or a 'big time loser' if you missed two or more payment does it mean that it is so. No, you can only dress-up as a 'banana', and a 'big time loser' you could be, but are not necessarily so - in fact, very unlikely, otherwise you probably wouldn't have got the mortgages in the first place.

 

I think it's time for us all to stop thinking in the way we were condition to think, because then we will always come out the looser with the same old guys walking away with what was yours. I am a strong believer that the law always provides remedy for your wrongs, but you have to look outside of the law that they are directing you towards.

Edited April 19, 2012 by aptb74

[asokn]

One of the main problems that is preventing people, who find themselves in the position where a lender has appointed someone to act on their behalf, is that people are looking in the wrong place for the answers. You will not find you answers in the unilateral contract that exist in the form of your mortgage, you have to look to the wider law, in particular the common law.

 

OK then, what particular case law do you rely upon? Of course, bearing in mind that the lender has on its side the mortgage terms and conditions in addition to its statutory powers as mentioned earlier. It's not enough to say borrowers have to 'look elsewhere' because the law is against them; what aspect of the law would you rely upon?

[keates]

Anyone who has been affected by LPA Receivers will probably be aware of the Secured Lending Reform Bill that George Eustice MP has been attempting to get through parliment but what you may not be aware of is the formation of the Free Enterprise Group made up of George Eustice and around thirty other MP's. George Eustice has recently written a paper on the subject and it has great relevance to anyone affected by LPA Receivers. It can be downloaded from the Free Enterprise Group website.

[deepindebt102]

Hi Guys, do you know by any chance if MX has this power (to appoint LPA receivers) if the new mortgage T&c is not signed by the creditor? does anyone have the new T&C available somewhere online? This is a very good topic, very useful, thanks guys! Thanks Deep

Edited May 11, 2012 by deepindebt102

[aptb74]

I have a copies of 2000, 2004, and 2010 Terms - I try and scan and post them, or at least a link to them.

[aptb74]

This is an interesting link on How to Halt Receivers

 

For all those who are prepared to stand up for Freedom, Truth and Justice

[Stevlynd]

We are fighting from every angle possible. We have a complaint with the FOS and in connection with this we have just instructed a forensic accountant. We are also involved with the group action. We were in court with the LPA Receivers last week to try to force them to release fianancial details that they had withheld following an SAR. We complained to the Information Officer and were informed that we are entitled to the infomation as we are 'personally, legally and finacially' responsible. The judge reserved judgement for 4/6 weeks but said whichever way it goes he will allow a right to appeal. We also have a solicitor who has just started working for us. He usually works for lenders and receivers but wanted to take on our case. He is the first lawyer I have found who knows this part of the law inside out. He has gone for falsing them to sell the properties to stop things getting any worse and also feels we may have a case under the CCA. I agree with you and I just know that we will break through in the end. Best wishes

 

 

Please could you let me have the details of this solicitor as Nat west have called in the receivers. I have never missed or been late or been short with a payment & really need help.

[aptb74]

MEX have been aggressively attempting to force all it's customers onto New Term & Conditions, so that they can they can that they can have more control over the way that their customers manage their buy to let properties, close their mortgage book by 2020, and put all the customers on all charges mortgage, which means a default on one mortage account is a default on all mortgage accounts.

 

Has anyone been forced to sign MEX new terms and conditions this year?

[keates]

I know of three people who have felt they had no alternative and have signed new terms and conditions with MX.

[Stevlynd]

I know of three people who have felt they had no alternative and have signed new terms and conditions with MX.

Please could you let me have the details of this solicitor as Nat west have called in the receivers. I have never missed or been late or been short with a payment.

[aptb74]

I know of three people who have felt they had no alternative and have signed new terms and conditions with MX.

When did they sign the new terms and conditions, and what lender are they with?

[thebiggreenie]

I've scanned through this thread and apologies if I've missed it, but the OP asked "Can the Mortgage Company put a particular property into LPA Receivership even if there is no arrears at present."

 

My question is based on this, but not exactly the same. If a borrower has multiple properties, and one goes into enough arrears to meet the conditions of LPA Receivership, can Receivers be called for all the properties with that mortgage company, or just the one(s) in arrears?

[aptb74]

Unless there is an all property charge, then each charge stands alone, one does not affect the other. This is why for example MEX is trying to force it customers to sign new terms and conditions, one of the new terms is that you agree for a single charge across all properties. So that a breach on one mortgages is a breach on all.

[Stevlynd]

I've scanned through this thread and apologies if I've missed it, but the OP asked "Can the Mortgage Company put a particular property into LPA Receivership even if there is no arrears at present."

 

My question is based on this, but not exactly the same. If a borrower has multiple properties, and one goes into enough arrears to meet the conditions of LPA Receivership, can Receivers be called for all the properties with that mortgage company, or just the one(s) in arrears?

Check your contract. Mine has wording which says "if any event of default occurs , then the bank by written notice to the customer declare the loan, all interest accrued and all other sums payable to by the customer under this agreement to be immediately due and payable and/or terminate the obligations of the bank under this agreement."

It then lists what constitutes a default and the killer for me is,

a default arises under any other liability of the customer to the bank or any other credit or any such liability is not paid when due or when a demand has been made.

I understand this to be called a cross co lateralisation clause which I did ask about before signing and was told "you don't need to worry about that as long as you don't miss any payments." Hope this helps you.

[syramis]

We are fighting from every angle possible. We have a complaint with the FOS and in connection with this we have just instructed a forensic accountant. We are also involved with the group action. We were in court with the LPA Receivers last week to try to force them to release fianancial details that they had withheld following an SAR. We complained to the Information Officer and were informed that we are entitled to the infomation as we are 'personally, legally and finacially' responsible. The judge reserved judgement for 4/6 weeks but said whichever way it goes he will allow a right to appeal. We also have a solicitor who has just started working for us. He usually works for lenders and receivers but wanted to take on our case. He is the first lawyer I have found who knows this part of the law inside out. He has gone for falsing them to sell the properties to stop things getting any worse and also feels we may have a case under the CCA. I agree with you and I just know that we will break through in the end. Best wishes

Is it possible for you to share your lawyers details, I am also in kent, and I was threatened with recievership without arreas, but they claim I have breached my mortgage. Its a long story, but I realise after dealing with the local council, that if you do not know the rules you will make mistakes that you cannot take back. I do not want to make any mistakes.

 

Thankyou!

[MortgageExpLPA]

Hello

 

I need help as i am being threatened with LPA receivers by MX just like other other people here , All my mortgage payments are up to date but they paid some service charges two years ago and that is why they are appointing LPA receivers

 

Can i have details of the solicitors that were mentioned in several posts? Is there and action group that I can get information from?

 

I am in Essex

 

Many Thanks

 

MortExpress LPA

[aptb74]

Hello

 

I need help as i am being threatened with LPA receivers by MX just like other other people here....

Many Thanks

 

MortExpress LPA

 

What year were your mortgages taken out?

[aptb74]

Please check out this youtube video:

 

Metropolitan Police Without Jurisdiction Unlawful Eviction - Part II (Full Version)

 

On Friday 21 June 2013, 9 serving Police Officers from the Peckham Police Station, attend a flat in Southwark to unlawfully execute a County Court Warrant. This act was unlawful, as the police to not have any jurisdiction whatsoever to execute civil warrants or to involve themselves in civil dispute. The only duty they could possibly have in a civil matter, is one of keeping the peace.

 

[keates]

I have already seen this and it makes me feel sick.

 

If this doesn't prompt the people who gave up the fight against LPA receivership and just rolled over, to stand up and be counted

- I don't know what will.

 

We will only beat this unjust immoral action by banks to use totally unregulated parasites to do their dirty work if we stand together.

 

The victim of the police abuse in the video is a thoroughly decent person

and we cannot allow this sort of thing to continue.

 

There is still a group of us doing all we can to get things changed but we need more people to make things happen.

 

Even, if like me, all your properties have been disposed of by the leeches, it's still worth fighting. Please don't let it continue.

[stevethebroker]

http://www.property118.com/mortgage-express-instructed-valuations-without-permission/64516/comment-page-5/#comments

 

Hi All.... check the above forum out as well. We need to get more people on board and let's put some pressure on UKAr/ MEx.

[keates]

Hi, haven't heard from you in a long time! That article has received a great deal of attention and rightly so!