Redstone Mortgages playing dirty

[Angryatred]

I have now had my mortgage with Redstone for about 10 years. Recently I have had to move and rent else where. I informed Redstone by post. They wrote back thanking me for updating my information. I rented the house to some nice people and was able to pay my rent and continue paying the mortgage. I moved because the 160 miles a day was killing me.

 

I heard no more until last Tuesday afternoon when I was informed by the people renting my house that the house has a LPA placed on it by the mortgage company. The LPA company are collecting the rent now!!! Redstone collected my mortgage payment too. So I am out of pocket on the rent I paid plus the mortgage amount. Redstone are ahead by nearly three times what they are due. More details later

Edited July 17, 2013 by citizenB

[BRIGADIER2JCS]

Hi welcome to CAG, someone will be along to advise you as soon as they are available.

[Petrel]

This has just happened to me but they wrote to me first (via Irwin Mitchell) and they had managed to get it wrong as what I was proposing to do was covered in the original offer. I have been offered compensation but am taking the matter to FOS for the upset caused. let me know if I can help with anything advice on what we did.

[Angryatred]

Hi, they said that they had written to me but I have no record of it arriving. So I am guessing they have not actually written at all. It would now appear that they wont speak to me or my solicitor as they instructed my solicitor to contact theirs. If they have not done anything wrong why hide behind a solicitor?

Can you explain how they came to make the mistake?

Cheers

Angryatred

[Petrel]

First they assumed that our property had been let. It hadn't but we had been marketing it. The lawyers they used never bothered to check our application or even the offer and underwriting sheet. Which showed our home was allowed to be unoccupied which was the other tack they tried. I assume you are not direct Redstone borrower and that they took over on the day the mortgage completed. The lawyer dealing with had to deal with me as I 'represented' myself.

 

if you wrote to them to inform them what you wanted to do did you ask for permission or did you assume permission. They are skating on thin ice. I think they (Redstone) are in difficulties and looking to cash in your property, it is likely the next thing they will try is to sell it. In the meantime they will be racking up charges. Your lawyer must not sit back an wait for hem to come to you so to speak rather the must go after them.

 

we need to know how many others are effected by this type of Redstone tactic.

[rdm2006]

Well redstone's are a little naughty - the FSA fined them for other unfair practices see HERE some of which was "Mortgage Litigation"

 

 

Hope you can find something in there to use

[Petrel]

The Redstone response thanking you for updating was sent to how long before the LPA action was taken ??

[Angryatred]

I wrote on the 3rd March I think and they replied on the 17th. It was not until the 5th July that I learnt that an LPA was on the property. Yes racking up charges is their game. My solicitor finally got an email from theirs yesterday. Not answering our questions but giving me the options to move back in ( not possible because of work) sell?? what with the market the way it is? or remortgage. I cannot do this either for personal reasons (also a recent ccj) So my solicitor writes back yesterday asking them to clarify whats happening to the rent the LPA company are collecting to be told it has nothing to do with me and that I should continue to pay the mortgage. So I continue to be out of pocket some 625 each month, money I can't afford.

So the final kick in the head. My tenants have the right to be in my property until March next year when I can give them a 2 months notice, I am told. So selling means selling with sitting tenants until then. So selling further impacted. Im thinking so I have to be out of pocket until then the 625 each month but no! I don't

The reason is the tenants have been ordered out and are leaving on the 16th of this month. Now why did their solicitor not tell us this? I found out by speaking with my tenants neighbour who thought I knew. Sneaky Redstone want to sell my property I am sure. They need stopping but how?

[Petrel]

move your wife or family/partner back in on the 16th then instigate a complaint to FOS about the actions of Redstone and potentially their solicitors to the SRA. They (lawyers) will bleat about confidentiality and acting in client's best interests but they cannot do anything unlawful. By the way who are the lawyers acting in the matter.

[Angryatred]

Im not sure who their solicitor is as I passed the info straight to mine and he was told to contact theirs.

My solicitor believes that their solicitor is not aware of their miss doings. She is definitely unaware as of yesterday to my tenants departure but its all arranged by the bully boys at Redstone. Obviously on the 16th Im not in breach of any contract and wonder what Redstones next move will be.

[Angryatred]

So the story continues. I was told late this afternoon that my house was to be put into the hands of an agent once my tenants are out on the 12th of this month. My solicitor was told that this was because I was not going to live in it myself. Excuse the language but who the F**K do they think they are? They are doing or trying to do exactly what I predicted which is to sell the house right out from under me. My guess is that it would be sold at mortgage value to a 'Friend', who would then sell it at market value for considerably more, then split the profit. I say again, I have never missed one single mortgage payment. How can they do this?

[Angryatred]

Its happened. Redstone have locked me out of my house. You know the one.The one I pay the mortgage on each month with out fail and have done for the last 10 years. They appear to do exactly as they want and are fully supported by Irwin Mitchell their solicitors who were unable to talk to me today nor incidentally were Redstone.

Funny that! especially as to day they were taking possession. Bas*ards.

[Petrel]

FOS have told me that Redstone have to cash in a number of their mortgages every year under the terms of their borrowing agreement. Is this treating client's fairly, is this just not harassing them beyond reason

[Angryatred]

Redstone **** have now sold my property and at a price of over 50K less than market value. Theres just £400 odd pounds after all their costs left but say it will be used to pay any other associated costs with the house.

It appears they are Gods and no one can touch them.

[rosebloom]

I have now had my mortgage with Redstone for about 10 years. Recently I have had to move and rent else where. I informed Redstone by post. They wrote back thanking me for updating my information. I rented the house to some nice people and was able to pay my rent and continue paying the mortgage. I moved because the 160 miles a day was killing me.

 

I heard no more until last Tuesday afternoon when I was informed by the people renting my house that the house has a LPA placed on it by the mortgage company. The LPA company are collecting the rent now!!! Redstone collected my mortgage payment too. So I am out of pocket on the rent I paid plus the mortgage amount. Redstone are ahead by nearly three times what they are due. More details later

 

They are rotten to the core they took our home threw my family on the streets and now I have found out their claim was not even a valid one and they used someone else details, get in touch we need to start a class action.

[rosebloom]

We are starting a class action against REDSTONE MORTGAGES. BEACON is now in liquidation and if you have not already seen there has been four test cases.

 

for evil to prevail all it takes is one good man or women to do nothing.

[honeybee13]

Hello rosebloom, welcome to CAG.

 

Do you have any links for the test cases please?

 

HB

[keates]

Any news on the class action please?