Black Horse Secured Loan / 2nd Mortgage arrears dispute FOS complaint

[citizenB]

5 How are second charge loans approved by the first charge lender?

 

This is quite complex. Some lenders will put a ‘restriction’ on the title (i.e. property) at the Land Registry preventing the registration of subsequent charges without the lender’s consent. However because of administration difficulties many no longer do this. Instead, a ‘unilateral notice’ may be used to protect a second charge on the register even if there is a restriction.

 

Where a lender does not use a restriction there is no need for the second charge lender to obtain consent.

 

[ATTACH=CONFIG]61952[/ATTACH]

 

Here you go, this should answer your question and it would appear there is nothing to be concerned about

[Baz1994]

Thanks citizenB

 

Could you kindly advise where you found this information ? Tried to click on Attachment but will not allow me to look at.

 

Ok so original lender is Bank of Scotland (1st charge).

 

1st Secured Loan / 2nd Mortgage is BH (2nd charge).

 

2nd Secured Loan / Personal Loan is WFS (3rd charge) with restriction on LR.

 

Am I correct in saying that BOS entered the restriction and therefore no consent was required for WFS to enter their charge ?

 

Just trying to get my head round all this thanks.

[citizenB]

I have added it for you in pdf format rather than a link.

SN04837 (1).pdf

[Baz1994]

I have added it for you in pdf format rather than a link.

 

Thanks citizenB

 

Very much appreciated and I will have a read.

 

So if original lender has entered a restriction, would the 2nd and 3rd charge need their consent ?

[Baz1994]

I just wondered if anyone had any further comments to the above thanks.

 

Latest is that we are now being constantly chased by Skye regarding disputed arrears amount.

 

Skye Loans are still refusing to accept Account in Dispute letter and are adding fees every month.

They still cannot provide evidence of the original arrears amount.

 

They are now pressurising us on a daily basis with threatening letters

and constantly calling my OH mobile number in which we believe was given by BH.

 

She eventually answered it and had a conversation with an Arrears Officer at Skye

who was rather rude to say the least and had my OH in tears.

We are now extremely worried and concerned.

 

They said if arrears not paid then they would start court action

and asked if we had any equity in our property to sell our house to pay of disputed arrears amount of approx £2,600 !

 

My OH said that the balance keeps increasing even though she has been making regular monthly payments.

They also suggested that if amount is increased then it will be paid off by end of term of original loan.

 

They have now today sent another letter asking us to complete an expenditure statement,

to provide 3 months pay-slips and bank statements within 7 days.

They also say that they will continue to add default fees whilst the account still has arrears.

 

Now both of us are at our wits end what to do next especially as we are now being constantly harassed.

 

We are sure something does not sit right with this but don't know what to do next.

Do we need to complete what they have requested or agree to demands for bank statements ?

 

Do we need to send a SAR ?

 

We see that Skye are regulated by the FCA.

 

Any help would be very much appreciated thank-you.

[dx100uk]

You must stand up to them

 

Yes Sar

Yes get reclaiming

I think its time for a CCA too

Something smells here

 

Can we have the full history with dates please

 

Stay off that phone!!

Block them

If they could do any of what they say

They would do it

Not willy wave!!

 

Who's name is on the land registry now

[Baz1994]

Ok thanks again dx

 

I will collate and respond in detail as soon as possible with dates etc.

 

I have attached edited BH agreement details.

 

Now Skye Loans Ltd on Land Registry.

 

Shall I draft up another account in dispute letter regarding the arrears and claim back charges ?

 

Cheers for looking

[Baz1994]

Sorry with agreement.

 

Does not seem to be letting me attach details ?

[dx100uk]

Not exceeded upload limit again have you?

[dx100uk]

Stupid tablet ...war.

 

SAR them yes

[Guest]

baz

is this related background?

http://www.consumeractiongroup.co.uk/forum/showthread.php?446912-BlackHorse-Secured-Loan/page2

[Baz1994]

Yes Ford and now things have moved on.

 

Skye are pressurising us now regarding arrears.

 

Monthly payments due are being made but interest keeps increasing.

 

Not a nice outfit to deal with according to my OH.

 

Ignoring Account in Dispute Letters, requesting that we sell house / equity to pay arrears.

[Baz1994]

Stupid tablet ...war.

 

SAR them yes

 

Ok thanks again dx and probably will do anyway.

 

I will check attachments and delete some old ones.

[dx100uk]

threads merged.

 

 

this whole debacle smells

 

 

dx

[Baz1994]

Thanks for that dx

 

Much appreciated, will try and load up agreement asap

[Baz1994]

Can some kind soul kindly confirm Skye Loans Limited Data Protection Address thanks.

 

Would it be the PO Box address in Ipswich or registered address in London ?

[dx100uk]

the address on their statements will do

[Baz1994]

OK thanks dx

 

Couldn't find any website for this outfit.

 

Presume they are a DCA and not a loan company.

[dx100uk]

reg'd office London 40 dukes place?

no not a dca

[dx100uk]

they are capita mortgage services ltd

 

 

http://www.capitamortgageservices.co.uk/contact-us.cshtml

[Baz1994]

Cheers again dx

 

I am just trying to find out a bit more about this company.

[Baz1994]

Well after further discussions with my OH, it now transpires that Skye were quite threatening to her on the telephone last week.

 

She didn't want to tell me (as would have angered me) but they even suggested that we rented out one of our rooms to pay-off arrears. This was in addition to telling her to sell our property or they would issue court proceedings. She said she was in tears and very upset on the phone but they continued to ask her what she was going to do about it.

 

Anyway they have sent another letter received today demanding that we return the enclosed I & E sheet, 3 months payslips and 3 months bank statements within 7 days.

 

We are happy to send back I & E details but are we obliged to respond with other details requested ?

 

My OH has been making the regular monthly payments to Skye and any arrears with them have been cleared.

 

Now on reviewing previous written correspondences further to our Account in Dispute letter, Skye did not provide evidence regarding the arrears amount apart from stating the amount.

 

They actually say that it should be referred to BlackHorse as it is not their issue ?

Also they still keep adding default fees / charges and interest even though we requested not to do so.

 

As previously advised I have sent a SAR, especially requesting telephone conversation details

re the day concerned as my OH was advised that it was recorded.

 

Should I now send a Formal Complaint letter,

including the above mentioned incident and remind them that they are regulated by the FCA ?

 

Any help would be appreciated.

 

Baz

[dx100uk]

pes i'd not send them anything.

 

 

what they sai on the phone is out of order

and they would never repeat in a letter.

 

 

somethings wrong with this loan

can you scan up all the paperwork again.

its gone since the crash[you might have to rename the file first]

as old filename wont be allowed to be uploaded again.

 

 

formal complaint yes.

how much of this arrears are fees?

how much is outstanding

 

 

trying to gather why they are simply threatening

and being forceful rather than taking things to court..me thinks they cant

hence why BH sold the loan

[Baz1994]

A belated thanks dx had to pop out.

 

I will start drafting complaint letter and should I head it up as a formal complaint ?

 

Agreement all loaded now. One sheet no copy of Terms of Agreement mentioned overleaf.

 

Secured loan but apparently unregulated.

 

I am just going through BH statement of account that was recently sent by Skye but no breakdown of arrears. Do they need to still provide breakdown of arrears ?

 

Also checking fees / charges added.

 

I wondered this as BH had never previously put any pressure on us. There again monthly payments were being made but no proof of arrears.

[Baz1994]

Just an afterthought

 

On checking letter details received from Skye,

I see that it states that this mortgage is being serviced by Capita Mortgage Services Ltd,

in which are authorised and regulated by FCA (306235).

 

Sorry for daft question but are Skye Loans Limited therefore registered / regulated ?