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Hi, I am new to this forum and forums in general so please forgive any lack of etiquette.

 

I am in very serious trouble and have been for years, and will shortly be going bankrupt and making myself homeless in order to get out of it. With what i'm reading and hearing, I may have cases to bring which I've decided to look into before going Bankrupt. I'll try to be as brief as possible. Below is a list of what i have going on and my comments & questions. I appreciate any assistance or advice for any of it. My problems stem from setting up my own business and it subsequently failing in the recession.

 

1, Mortgage on my home: Spml/Capstone/Ascenden interest only mortgage for 92k taken out in 05. Current outstanding is 97k. Obtained through broker. Late charges throughout the life of the mortgage. Currently in arrears but under agreement and 'safe' for the time being.

Could this mortgage be mis-sold?, Are the charges refutable? Is the fact that I have been forced to take buildings insurance with them refutable?

 

2, 2nd charge on the property with Nemo Finance for 25k 2006. Currently in arrears but under agreement and safe. Charges throughout the life of the loan, current balance still 20k plus. Are secured 25 year loans being scrutinsed for mis-selling?

 

3, 3rd charge on the property for 25k with Halifax 2006 within 6 months of the above loan. Charges throughout the life of the loan. Same question as above.

 

4, Santander mortgage on another property taken out in 2004/5. Increased mortgage to 85k. Charges throughout the life of the mortgage. Ran into serious arrears 2011 to 3.5k. Started back in full time employment following the collapse of my business in september 2011. paid Santander 1800 in October and entered agreement. Missed the following 2 months payments due to more pressing debt catch ups with other creditors. House repossessed on the 18th of Jan 2012. Called the head of dept to try and get the repo reversed but was told i would have to settle the entire 85k for that to happen. Advised the woman that the property had been empty for years and that they should have notified me at my home to tell me what was going on. She did not know I had another house and thought she was making homeless. Despite the fact that my Santander bank account is registered at my home address and not at the repo'd house. House was on the market by the end of Jan 2012 for 1 day and was sold for less than half it's value, leaving me with a shortfall of 50k. They are now in pursuit of this money. the whole process from entering agreement, to sale of prop was 3 months. Do I have grounds to sue based on:

duty of care to make sure they had actually spoken to me to tell me what was happening,

consideration to my change of circumstances i.e. not earning any money until i went back to work in Septemeber, after which I paid them 3 quarters of my 1st months wage.

giving me the chance to sell the house for a larger sum, or to a family member so as to not lose (what they thought) was my main residence,

allowing the property to sit on the open market and not accepting the first and only offer on it for less than half its value. the property has now had it's refurb (which I had done half of) completed at an estimated 20k and is worth 120k. Santander sold it for 45k.

Additional borrowing had PPI attached.

 

5, HFC personal loan taken out circa 2005 for 7500. current staus is 12500 owing. I paid a company 500 to see if this had been mis-sold which took about a year. They came back and said it was enforcable, but they got my ppi back. Since then i have not recieved any demands for payments but do recieve a yearly statement telling me the balance is 12500. I do not know why they do not chase me for this anymore.

 

6, Halifax current account, charges totalling at least 6k over the last 10 years. Already put a claim in but was told by them that they were fair and the court case ruled against payouts. Is there any point in attempting to reclaim this money?

 

7, Santander/Alliance & leicester bank account, Charges througout the life of the account.

 

Apologies for the convoluted way this is written, I am currently putting together a more concise and detailed history of my circumstances in order to submit to somebody that may take up any or all of these cases. I am finding it all a bit overwhelming and want to find out if people think I do have relevant grounds to bring cases. Also, how would I go about this? Does anybody know a good manchester based law firm that deals with this? Please help. My wages don't cover outgoings and I only eat 3 weeks out of every month to maintain my current status.

 

Any help is appreciated and i can go into more detail on any points above if requested.

 

I also would like to know if it is possible to sell the house I live in now for less than it is mortgaged for ( and therefore not covering the 2nd and 3rd charges) as I know from experience that if I hand the keys back, they will simply gice it away and chase me for more shortfall.

 

Best Regards,

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Hi D.J.F and welcome to the forum.

 

You have a bit of a mixed bag here and you'll need to break these down a little into whether they are pesonal debt or business related. Bit difficult to tell at first glance.

 

some of these need breaking down into their component parts such as your mortgages, the empty house - was that a 1st home mortgage or what? Also when breaking this down, can you say whether there were any further advances on the mortgage, what date they were and what amounts they were? Have you kept all the documentation for all this too?

 

If you can take each debt and break them down into component parts then we may be able to give you more valueable and consturctive opinions. It might also be better to break each laon into a separate thread then add the links into your signature at the bottom of you posts to all threads you begin.

 

With all you've had going on I am confident there are areas which could benefit you, but the devil's in the details in these things and you'll need patience too. You seen pretty switched on to events so that's always a good start.

 

Good luck anyway.

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Hi

I have just come across your thread and you have raised quite a few issues within the thread. Firstly, there is a possibility that you were mis-sold the mortgage with SPML. SPML charges are excessive so you could possibly get those back but the insurance should only have been applied if you did not have any other insurance on the property.

 

The second and third charges on the property can not be considered as a mis-sell because this applies only to the first lender, but if there is PPI there is a chance that this was mis-sold but I cannot assess this without checking relevant paperwork.

 

I would not sell the house for less than it is worth because you will have to pay the deficit and you would still have to pay second and third charges.

Hope this helps.

 

It really sounds like you have been mis-sold. Is the broker still trading?

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Hi, thanks for the reply, how would I go about approaching the potential mis-selling of the SPML mortgage? I have spoken to a company about it, but they have been dogging me ever since in much the same way as a debt collector does, so i think they're just out to get even more money from me. With regard to the 2nd and 3rd charges, would there be any case for irresponsible lending?

 

Any help is greatly appreciated

 

 the broker is still trading.

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you can certainly reclaim mortgage charges and PPI + any int they have cost you.

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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Hi DJF

 

You can certainly claim back charges through the courts. I have sued my mortgage company 3 times in 5 years over £50 arrears charges. Each time they have said they will defend etc and then capitulated before it gets to a hearing. With the massive fines imposed on Deutsche Bank and Kensington over charges no mortgage company has the guts to face court.

 

To start the process ask for statements on your mortgages and secured loans going back 6 years. With the interest added you may be surprised what you can get back.

 

Cheers

 

BAE

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Thanks BAE,

 

Do you know the best route to take for claiming back mortgage charges and indeed bank charges? Where can I find these POC forms and/or templates? Also, do you or anyone else know anything about claiming against mis-sold interest ony mortgages? Is it possible?

 

Best Regards,

 

Dan

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Hi kaz320,

 

I've just seen (and lost) your other response requesting an email address to provide more detailed help with the mis-selling issue. I don't think I'm allowed to provide an address on here. is there anyway i can private message you?

 

regards,

DJF

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Hi DJF

 

Look at the link

for a MORTGAGE CHARGES CLAIM POC template. The process is quite simple - you can claim online through moneyclaim or claim through your nearest county court. The relevant form (N1 i think) can be downloaded from the HMCS website if you want to go for the local court route. The fees for claims vary depending on the amount of your claim - and moneyclaim online is slightly cheaper. For example, if your claim is for between £3000 and £5000 the cost will be £100 with moneyclaim and £120 at your local court.

 

If you want more advice you could post your POC on here before you put in the claim, (starting your own thread), and ask people to check it and advise on it. This will have the added benefit of helping others through the process.

 

(Re: bank charges, I would not take the court route due to the outrageous Supreme Court judgment from a few years ago, which sided with the banks, basically. I know the FOS is lambasted as having no teeth but they did get me a partial - refund with Lloydstsb a few years back - it may be an option.)

 

Finally, regarding a possible missold mortgage claim I would only act on advice of a specialist solicitor/lawyer - if you could find one to have a look at your mortgage agreement for free that would be a start!! Whether or not there are firms who would take on this sort of claim on a no win no fee basis I really don't know...

 

BAE:-)

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Many Thanks

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Hi,

I have financial agreements with Nemo, Spml (int-only mortgage), Halifax, Black Horse and Santander (mortgage-repossessed)

Each organisation has definately hit me with severe charges over the last 6 years and (by the sounds of the above) there is definately grounds for me to attempt a claim with each of them. I also have long standing bank accounts with Halifax and Santander, both of which have been subject to severe charges.

 

If I were to successfully claim against all of them, i've no doubt the charges would total many many thousands of pounds (at least 20k).

 

The house mortgaged with santander was reposessed recently (2012) for arrears of around 3k.

 

The santander mortgage (along with all the other agreements) was subject to excessive charges and also had PPI attached to it.

 

If I were to successfully claim against Santander and the others, would I not have grounds to complain/claim for the subsequent loss of the house? i.e. if I am out of pocket by 10, 15 or even 20k and I lose my home for 3.5k, does it not stand to reason that (had I not been ripped off for this money) I would not have lost my house? OR if my credit file had not been so badly damaged by the on-going problems, maybe I could have arranged better or different terms in an attempt to keep my house?

 

Also, does anybody know any cases of successful claims against interest only mortgages sold through a broker for SPML? what was the outcome/compensation? I also have one of these.

 

Any and all help is greatly appreciated.

 

Regards,

DJF

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Hi D.J.F.

 

I can help you with a mis-sell but as I am new to this site and do not want to put my email address on the main site, not able to PM you as yet, if you PM me I will certainly help you.

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will let you know how i touch bass with my misselling

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Halifax secured loan - excessive charges for 6 years and on-going

Nemo Secured loan - excessive charges for 6 years and on-going

Black Horse Loan - excessive charges for 6 years and on-going

SPML/Capstone Interest Only Mortgage - excessive charges for 6 years and on-going, possibly Mis-sold?

Halifax Bank Account - excessive charges for 6 years totalling 5k with interest. Refused payment or investigation after test case.

Santander Bank Account - Excessive charges for 4 years and on-going (sometimes 150 a month!)

Santander Mortgage - excessive charges for 6 years, PPI attached, repossession of property Jan 12 for 3k arrears. Locks were changed Jan 18, property was sold to first offer by 1st of Feb for less than half it's value, leaving me with 50k shortfall. Claim?

 

When considering the above, does anybody think i have a case to complain/sue?

Does anybody know a solicitor I can speak to that would be interested in all of it?

If I brought successful claims to any or all involved, does it not then stand to reason that, had these charges/PPI/mis-selling not taken place, I would not have lost the re-possessed property and been left with a 50k shortfall.

 

Any Help?

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I've replied on one of your other threads but SPML/Capstone can't insist in your insurance.

They will try to charge you and bully you and lose you own insurance details. Ignore them ..

 

...I haven't noted them on my OWN insurance and refuse to.

They always try the block insurance [problem] on every year and it's wearing a bit thin now.

 

It completely stands to sense that without the extra cost you would have managed.

You can make a claim against all of them so start with the FOS.

 

The only one I know for sure is Capstone as they can't justify the amounts they charge and refused to when the FOS asked them in my case.

 

You could sue them all but is it good money after bad?

And it doesn't seem you have the funds to do it and I can't see any lawyer taking it all on as a spiral.

Tear each one apart and fight them.

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Hi Crapstone :-) Thanks for responding.

 

I think this is why I do need to get a solicitor to review the lot and tell me how to proceed.

I do have limited funds but what I want to do is spend an hour with a solicitor, explain all the cases and get their opinion on how to proceed.

 

I'm not the 'claiming' type but before I go Bankrupt I'd like to stick it to a few of these companies.

You have suggested the ombudsman, but many many people on here say not to go near them as it takes months for them to respond and they only half heartedly pursue.

 

Thanks again for the response

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