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    • Hi Tawnyowl here,i have been watching events over the last week or so as things develop. Labrat,such a sense of humour.😀 Hi honeybee13 . Sure does     Anti-fracking campaigners have reacted with concern to news that the British Geological Survey (BGS) signed a non-disclosure agreement with Cuadrilla over access to operational data. https://drillordrop.com/2019/08/24/suspicion-over-fracking-firms-secret-deal-with-geological-agency/   Cuadrilla has been accused of trying to downplay last night’s 1.6ML earth tremor caused by its fracking operation near Blackpool. The tremor, at 8.46pm, was the largest so far recorded at the Preston New Road site since fracking began there in October 2018. https://drillordrop.com/2019/08/22/living-in-fear-residents-respond-to-1-6ml-fracking-tremor/ Energy firm Cuadrilla said a 2.23-magnitude tremor was recorded at its facility near Blackpool at 11.01pm on Saturday – the third “micro seismic event” this week. While some local residents may have felt the movement, it was not strong enough to have caused any damage to property, the firm added.  Do you believe anything this company says. Like their so called micro seismic events you would think damage could have been caused to properties. Once buildings start shaking this must happen surely. I was approached this afternoon while at a cricket match. Just chatting way about this and that when the person said Did you feel the Earthquake last night. I had not even heard about it,tell me more i said. Lights and windows shaking moving around about a mile away on one of the North of Englands largest housing estates. And there are reports of many more people feeling this event covered on this link. Why should a community be put through this,waiting for the next one. People living around Cuadrilla’s shale gas site reported shaking buildings and windows last night from a 2.1ML tremor. This is the strongest seismic event so far induced by fracking at the Preston New Road site near Blackpool. It brings to more than 90 the number of tremors since fracking resumed at the site less than a fortnight ago. Within minutes of the tremor, there were reports that people had felt it from surroundings towns and villages including Blackpool, Weeton, Westby, Peel, Kirkham, Wrea Green, Great Plumpton and Lytham St Annes. Much more on the link. https://drillordrop.com/2019/08/25/call-for-fracking-ban-after-2-1ml-tremor-shakes-buildings-around-cuadrilla-shale-gas-site/   You might notice that the BGS has a page now for human activity causing Eartquakes-link Last updated: Sun, 25 Aug 2019 18:10:00 (UTC) This list contains seismic events for which there is strong evidence that they have been induced by human activities. It is linked to a database of seismic events and locations and magnitudes may change as events are re-analysed and revised. Background, tectonic seismic activity is reported on our recent earthquakes list. http://earthquakes.bgs.ac.uk/induced/recent_uk_events.html   I had better leave it there for now, more soon.,how will it all end because surely it will. Things cannot carry on much longer like this,can they? Bye for now. Tawnyowl writing from the Earthquake centre of Great Britain courtesy of Cuadrilla Fracking.
    • happy for mod to move it to suitable location under thread title Background: Thanks in advance for any thoughts you can share. This is a very long history, I appreciate your time. In 2011 I took out a £8500. loan from Borro private finance against art and jewellery to make ends meet. The agreements are attached below. This is a CCA. Borro regulated by the FCA. The interest rate is APR 68.8  % for 6 months.  I paid the interest and capital during the period term. On 3 May 2012  I renewed this loan at 79.4% interest for another 6 months.  Last week I requested all evidence the lender holds concerning the agreements. Missing are 03/05/2012 through 14/06 2013.( not under a SAR).  I fell into arrears on the loan and one piece of jewellery was sold, reducing the balance to £6400. Dec 2014.   The lender took a payment of interest £2044.16.  Renewed against the other items ( art etc) on this loan.  The new interest rate increased to 88.8%  . At the time the ring was sold, I requested all documents concerning the sale. Borro produced none. The ring is appraised at $17,5000.  £14,000.  The ring was sold for £3500.  I have an appraisal. I was notified prior to the sale. The ring was sold by "private treaty". I continued to ask for information about this sale until todays date. No information has been provided.  I took a huge loss . The ring is not clearly described on the inventory compared to the appraisal. Documents missing from Borro response to my request include 25/10/2014 to 10/04/2015. I was in arrears on this loan and a new agreement was made. The loan amount was increased to £10,810.00 and the interest rate decreased to  80%.  what is interesting is that the lender should have sold this ring, the value was sufficient to pay off my debts. But that is not what happened. someone got a deal on a nice ring.  II. ON 1, Jan 2012, I took out a second loan in the amount of £3000 against another piece of Jewellery. The interest was 68.8%. I paid the P&I on this loan.    Missing from the requested information is agreement from July 10/2012 until 12/12/2012.  I did pay interest during that period and on 12/12/2012 through 11/06/2013 I renewed  with an interest rate for 79.4 %.  I renewed on 04/07/2013 through 03/06/2014 interest rate 97.8%.  I renewed this loan on 03/01/2014 interest rate was 88.8. Take note there is very little description about this item. I redeemed the loan but ended up back in the pawn. 19/06/2014 to 18/12/2014 interest eat 94.5%. I renewed this loan again 19/03/2015 . Interest rate was 93.2%. Now there is a clearer description of the ring. Documents missing from Borro response to my request include 012/06/2013 to /10/2014 to 10/04/2015. Information on the  description is also scant until I took the loan out again in 2014. The last payment on either loan was March 2015. Default date was September 2015. The lender still has my property.   PROBLEM: In 2013, Borro became aware that the reason I had pawned these items was that I was a plaintiff in a substantial lawsuit in the US. I borrowed because I had lost my job. I was not able to work( I had been FCA regulated). I was facing eviction, had serious financial stability  and some mental health problems. I gave them a copy of the pleadings. They are aware that I had claimed these loans as part of my damages.  In 2015, Periodically I requested the accounting. Some was provided some was not. As a result, in  2016, the head of credit wrote to me " "Thank you for coming in to see me today. As discussed, we will freeze your accounts with us from today the 14th October 2016 until the 31st of December 2016. This will mean that no further interest will accrue until the 31st December 2016 and we will not consign to sale until on or after the 31st December 2016."  I did not hear from them again until  08 February 2017. On 30/03/2017 I responded to Borro request that I give them an update on the accounts. I wrote that I needed a settlement figure.  No response the following week I personally met with the manager I had been dealing with. She told me that " we are not going to sell your property". We understand that you have fallen on hard times, we are human. How long will it take you to sort this out. I responded about 2 months."   I did not hear from Borro again until I wrote to them on 18/03/2019 where I stated, " the last time we met you were going to give me a settlement figure". There was no response. As a result, on  18 March 2019 I sent  an email to - Subject: RE: Borro Accounts. Dear Lender. Hello. The last time we met, you were going to give me a settlement figure. Litigation is still ongoing. We have a potential investor that has asked me to get a figure from you. Depending on that number, I can let you know if I can pay the bill and collect my things in the next few weeks. Please get in touch as soon as possible". no response.   In early July 2019 I received a call from someone at Borro. It was not a good time. I asked him to call me back the following week. I did not hear from him again either. On  6 august 2019 I received an email from Borro that I should log into my account. I was unable to. The following week I wrote to them and in summary: On 13/08/2019 I wrote and included a summary of the events: I am writing to advise you that I am obtaining advice concerning the  account. You are aware that you have not pursued any further action on this account since approximately 2014(or earlier) . This is because I had an agreement with Name Deleted that Borro was not “going to sell my property,  I recited the above summary of events.   Certainly, I had no intention to give up valuable property for almost 8 years and pay interest and principal for this long. I want to develop a resolution to the matter between us. In order to achieve this, Please can you provide me with the following information which is attached in a spreadsheet: I need a very simple accounting and please answer the below: Any renewed loans where additional credit was extended through the re-appraisal of the assets ( ie using the asset as leverage) to extend further credit where the loan proceeds were applied to the loan for reinstatement purposes. What were the source of funds for the last payment made? Because I am seeking advice with a view towards finding a resolution, I would appreciate it if you could hold action on the above account for a period of at least 30 days to give me the time  I need to obtain advice. If you are adding interest or other charges to the account, I would be grateful if you would freeze these during this period so that my debt does not continue to increase. Please can you send me the enclosed spreadsheet and the documents you loaded into my account as soon as possible. This will enable me to obtain accurate advice. I will contact you again as soon as possible with further details of a  proposal to resolve the account. ( so far this lender has not complied with my request)   SETTLEMENT OFFER From: Borro Customer Service <Contact@borro.com> Sent: 14 August 2019 13:22 To: Subject: RE: Your Loan Account   Dear borrower. Thank you for your email and for getting in touch with Borro. As you would be aware there have been many loans with Borro, with two loans that remain outstanding which we are seeking to resolve with you. Given the significant period these have been overdue, the current balance on these two loans is almost £52,000 of which the majority is interest. In order for you to move on from this debt it is proposed to sell the collateral associated with Loan DIAMOND RING 175643 in full and final settlement and return all the items under Loan 198678 to you. This would generate a loss for Borro of approximately £49,000, however given your circumstance this is something we are prepared to offer. While I would love to pay Borro £3000. I do not currently have the funds. Borro is aware because I wrote to them on august 13 advising them i am not working. I do not want to lose my property. I need to find a way for them to walk away, give me my property back. WHAT ARE MY OPTIONS? Below are the questions I have or could raise in order to "negotiate with them". Is this a high interest short term loan? What are the effects of an CCA that has an interest rate of 93.6% and is renewed every six months? It appears that one loan was "Refinanced".  What FCA terms did they violate which might apply to this situation ? After the agreement expired and terms were changed, what rights does the PB have to collect further payments or sell the ring? Did they waive their rights to further payments? How can I use refusal to produce sale information concerning the first ring, to negotiate my way out of this? What is interesting is, they sold a £14,000 ring privately, concealed the buyer and other information, then turned around and INCREASED THE INDEBTEDNESS substantially. In fact they want to do this again, but this time are offering to  write off £49,000  in other interest. What am I missing? What effect does violations of FCA 6 and 7. help me to negotiate a settlement. Is the FOS effective threat to the firm to pressure a settlement? Does a cost cap apply to these loans and if yes what is the amount of the cap? How can I use the current appraisal and FCA or any other rules to stop them from selling the ring for less than market value? I have someone looking at the accounting to see if there are errors. found several when query. anything you can find that voids the agreements? Anything else you can think of THANK YOU!!!   RING.pdf art.pdf
    • I am so sorry I see the confusion now, I was meant to say CAB not CAG. They are just sending him letters to copy and send which doesn't seem helpful at all.    I also apologise for the vague details right now. I actually thought he had got rid of the car already until he mentioned it as he dropped me off home, so I've only got a vague idea myself, i just wanted to see if there was anything he could do other than send letters. I will get more details from him and update this thread, or get him to join as you have advised.  sorry 
    • It was a late payment, no default 
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blemain and secret commissions

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I would be interested to hear from anyone suffering problems with commercial first ltd and also if you were sold a motgage by the now defunct ironmarket loans .I have had huge problems with them but I am in the process of ammassing information regarding these companies .I have had direst conversation with the fsa about matters as wellas the ombudsman and the fSCA .i would love to hear all the stories especially those who have suffered harsh treatment from this company .:mad2:

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Interested to make contact send me a private message. Think you may need to have had 10 postings though.

 

Cheers

 

TJC123

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When looking for a business loan, most banking organizations will require that you have a effectively ready strategic enterprise plan that features your enterprise, your using business loan resources, the market in which you are managing within, how you plan or how you will continue to market your enterprise, and the predicted monetary results of the enterprise over the next three to five years.

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ironmarket didnt ask for anything as such from me as there wasnt any enterprise hence why i am persuing this with the sfcs at the moment ,neither did commercial first ask for anything like this .i also belive my paperwork was filled in in part when i signed it and then agfterwards ,no sign of any original docs eith with theoriginal sig onit ....quite easy to photocopy in afterward too ..i hear others are insimmilar position .

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I also have information to assist anyone taking action against the above. Please do not hesitate to PM me. I have tried to PM others however for some reason it wont let me

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I would really like to make contact with you as I am dealing with Commercial First. My case is with FOS, but I have a solicitor in the background who identified many issues (putting ot mildly!) and FOS have details from him. However, I am not confident with FOS. Quite a few issues really but Commercial First are breathing down my neck and my experience with them is shocking too. Please contact me, I need anything you can give me and it would be nice to have contact with someone who has, or is, dealing with Com. First as I am going through a bad time with these conmen and life has come to a stop. Will look forward to hearing from you, hope you are still out there. Many Thanks.

Edited by Braced
adding

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I would really like to make contact with you as I am dealing with Commercial First. My case is with FOS, but I have a solicitor in the background who identified many issues (putting ot mildly!) and FOS have details from him. However, I am not confident with FOS. Quite a few issues really but Commercial First are breathing down my neck and my experience with them is shocking too. Please contact me, I need anything you can give me and it would be nice to have contact with someone who has, or is, dealing with Com. First as I am going through a bad time with these conmen and life has come to a stop. Will look forward to hearing from you, hope you are still out there. Many Thanks.

 

in the same boat

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Your actions yesterday worked and were appreciated but then microsoft played some funny games can you repeat please.

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It would appear from Companies House filings that Commercial First have disposed of all of their subsidiaries which owned the equitable rights (financial benefits) of their entire mortgage book.

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It would appear from Companies House filings that Commercial First have disposed of all of their subsidiaries which owned the equitable rights (financial benefits) of their entire mortgage book.

 

i consider that Commercial First Mortgage Limited is Money Laundering and misrepresenting the FCA through Commercial First Business Limited,a lender without capital, BY FUNDING UNREGULATED MORTGAGE THROUGH Commercial First Business Limited, which act as the the lender BREACHING the FCA Rules allowing Commercial First Business Limited to hold the legal title and to repossess the mortgage property

once the property has been prepossesses Commercial First Mortgage Limited instruct sale on their is behalf.

(clean money through an illegal act) follow the money trail, This is job for the SERIOUS ECONOMIC CRIME UINT

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TJC123

Do you think they were pushed to dispose of them in view of these companies, which held the equitable rights, having a combined net worth of £ -116,984,000 as at 30th November 2012? This caused the whole Commercial First Group to have a net worth of £ -119,405,000. It is difficult to see how they were still able to trade. What is more the rating agencies could have raised concerns or downgraded their rating of the investment coupons, as they did a couple of years ago when the loan administrators HML, a subsidiary of Skipton Building Society, suffered a small reduction in their own credit rating but nothing like as dire as Commercial First's position.

 

I suppose it depends on who took the hit as Commercial First were not able to handle these losses.

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I guess that the only people who would have suffered any losses were the securitisation investors. Also, CF would have been in a weak position given their financial situation and the nature of their current legal disputes with borrowers.

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I wonder if the new shareholders knew of these cases?

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From CF’s annual accounts, I notice that several months ago their main bankers dumped – sorry, sold their short term loans that they had made to CF. I wonder how many turned up for that auction? What’s that story about rats jumping ship.

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Hi Braced. I am in the same position and would like to make contact with you.

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It has been interesting to read all of this but has anyone found a solution about getting out of bed with Commercial First?

 

Has anyone managed to get out of their clutches successfully without financial harm? I would be very interested to discuss with someone who has managed to beat them. Please contact me ASAP!

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I would suggest anyone with a Commercial first mortgage send an SAR request and in particular pay attention to the underwriting sheet .There are a number of mortgages out there that show hidden payments to brokers as well as what you have paid to your own broker .This creates an unfair relationship and could result in the mortgage being completely rescinded as well as you being able to claim damages and losses etc .Also look at the consumer credit act section 140 A and 140 B remedies for unfair relationship etc .There is a famous case wilson v hurstanger 2007 which sets case precedent and says there is joint resposibility on lender and broker ....important as CF will try to blame the broker always .......

There have been recent out of court settlements but undoubtedly there will be confidentiality agreements .CF do not want this to get out and continue to bully people and repossess .

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Some surprising and concerning information is leaking out that Commercial first are adopting a very blase attitude to the secret comission and bribery issues ........despite there being a large and mounting number of cases against them including claims for those customers who were reposessed by this bunch .One wonders if the blase attitude will wash in the high court .

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Im My case we have discovered the secret commission and my lawyer got a total stop on legal proceedings (with no order for costs). The Judge said that CF better nont even think of coming back to court untill its settled.

 

Since then they have dragged there feet in sending the paperwork and now we are negotiation a settlement.

 

Maybe they are in more trouble and dont care, from what my lawyer says (he has dealt with many CF cases) they will lose, dont want to go to court but still delay and play hardball. From what ive seen of there accounts and changes in the last year I think they changing there business model based on the problems they have, and the longer these these things drag out the nearer it i to better times for selling repossessed properties, they can tell there backers that they are sorting cases.

 

When i did a google search for "Commercial first complaints" i found near the top a website dealing with these problems adn they put me in touch with the lawyer.

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Hi All

I have recently checked over my SAR documents and found a hidden comission blemain paid my broker !!!!

 

 

As well as this they have levied huge and unfair chrges on my account and used the inhouse monarch recoveries

to supposedly recover the debt whilst charging exorbitant fees .

 

 

I shall be using the principals in Wilson v hurstanger and the recent plevin v paragon supreme court ruling to obtain rescission

as well as damaged and losses as per section 140 A and B of the CCA (my loan is unregulated )

 

 

This company are dreadful and during a time when I had small arrears owing to dreadful family circumstances

they tried to repossess me many times .

 

 

I now have no arrears and have agood payment history despite this the loan has hardly reduced at all .

I have experiences extreem rudness from the staff there but now is the time to fight back

 

 

.My advice to anyone is to obtain the SAR and look carefully at the underwriting sheets

,if they do not send them demand them

,most of their mortgages will have some sort of hidden commission present giving you all the opportunity to demand rescission of the mortgages

,this means the mortgage contract is voidable and you go back to day 1 less anything you have paid and all fees and charges removed .

They will wriggle but it is very worth the fight .

 

 

This company have a terrible reputation for customer treatment and setting up loans to ensure people fail .and allow them to repossess.

This is the legal way forward but the SAR is very important .

They will also try to pass of that they have conditions in the mortgage paperwork that invite you to ask about a commission paid or that they may pay a commission

.....this is not enough to get them off the hook so dont be daunted .

 

 

Any commission has to be told to you by the broker and them clearly and concisley if they dont it is considered a bribe

to induce the broker to put business their way and without proper consideration for your needs as a customer .

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Hi I know exactly what you are going through I was bullied by this bunch whilst dealing with divorce bereavment and ill health ....

 

However may I suggest you send off for an SAR to them it will cost you £10 the templates are here ...dont be surprised if they refuse to send you the underwriting sheet as this may well show that a secret commission was paid to your broker ....

 

if this is so then apart from throwing a very big spanner in the works of the repossession process it may well allow you to get the mortgage rescised ie it goes back to the day you took it out less charges and fees etc and loss to them of any benefit whatsoever ...look at the likes of wilson v hustanger and the recent plevin v paragon in the supreme court ....a secret comission is a bribe and dealt with in civil law as a type of fraud .I am currently getting barristers opinion on the second charge i have with blemain .....

 

but I already know I have a case and as well as that also good grounds for the mortgage to be deemed unfair under section 140A and 140B etc of the CCA (mine is an unregulated one ) if yours is regulated then the mortgage rules should cover you .If they refuse the underwriting sheet you can force them to produce it in court .

 

Most if not all of the sub prime lenders paid commissions to brokers without clients knowledge this can be enough to void your mortgage .Dont give up !My battle is just begining but I have plenty of damming evidence against this awful company .There is plenty of information on the internet to help you

Edited by citizenB
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Hi I know exactly what you are going through I was bullied by this bunch whilst dealing with divorce bereavment and ill health ....However may I suggest you send off for an SAR to them it will cost you £10 the templates are here ...dont be surprised if they refuse to send you the underwriting sheet as this may well show that a secret commission was paid to your broker ....if this is so then apart from throwing a very big spanner in the works of the repossession process it may well allow you to get the mortgage rescised ie it goes back to the day you took it out less charges and fees etc and loss to them of any benefit whatsoever ...look at the likes of wilson v hustanger and the recent plevin v paragon in the supreme court ....a secret comission is a bribe and dealt with in civil law as a type of fraud .I am currently getting barristers opinion on the second charge i have with blemain .....but I already know I have a case and as well as that also good grounds for the mortgage to be deemed unfair under section 140A and 140B etc of the CCA (mine is an unregulated one ) if yours is regulated then the mortgage rules should cover you .If they refuse the underwriting sheet you can force them to produce it in court .Most if not all of the sub prime lenders paid commissions to brokers without clients knowledge this can be enough to void your mortgage .Dont give up !My battle is just begining but I have plenty of damming evidence against this awful company .There is plenty of information on the internet to help you

 

You may wish to note that the post preceeding yours was from some 22 months ago......

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yes it was meant for another person I have messaged them so they can benefit from the information .

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Own thread created and moved to the correct forumm

 

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great i have a lot of information re this company as i am sure others do but I have experience of this type of claim and settlement

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style="text-align:center;"> Please note that this topic has not had any new posts for the last 1168 days.

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