SPML/LMC anyone claimed for mis selling and unfair charges?

[enoughisenough]

Or in the case of the FSA they come up with a big fat zero...A shower of sh*t? Absolutely...

[ryde]

Sced

another 2 months to go by the look of it then,minimum.

RE authorisation I cannot find anything in the mortgage contract stating that capstone or anyone else is authorised to step into the lenders shoes and act for them can you? there is a bit about the right to assign but that is entirely seperate.

What infuriates me is that courts just accept this authorisation without demanding evidence of it even when the point is stressed and proof is demanded, because a solicitor presents the case,in fact capstone just assume the identity of the lender which in the case of sppl and lmc is a total impossibility.

I'm going to contact the feckin' FSA and ask them the reverse question;is their investigation into the 4 firms now over and have they all been exonerated ,might get a straight answer then.

Edited March 6, 2010 by ryde

[IMAGOODGUY]

Im still waiting to hear back from Ernst & Young, not holding my breath though, aslo how long do FOS take to get back after a complaint has been filed?

If the SFO dont take up the investigation then perhaps notify the Met Police Fraud Squad at Holborn Police Station. I will post contact details when I get them!

[ZillaK]

They were going down and the smart money knew it...

 

..isn't it also true that all UK based coffers were emptied prior to filing bankruptcy?

 

I still maintain the opinion that there will be a large number of accounts (secured loans) moved to SPML from LPL/SPPL, between late 2008 and early 2009.

 

What's the legality of contacting some of these LPL/SPPL customers?

[scedminc]

Sced

another 2 months to go by the look of it then,minimum.

RE authorisation I cannot find anything in the mortgage contract stating that capstone or anyone else is authorised to step into the lenders shoes and act for them can you? there is a bit about the right to assign but that is entirely seperate.

What infuriates me is that courts just accept this authorisation without demanding evidence of it even when the point is stressed and proof is demanded, because a solicitor presents the case,in fact capstone just assume the identity of the lender which in the case of sppl and lmc is a total impossibility.

 

No there is nothing in mine whatsoever and they still continue to refuse to provide any such evidence so I am in a stalemate situation and until they provide some form of authorisation they will not get another penny, court order or not. When in court the solicitor says they are acting on behalf of the lender but of course the instruction comes from Capstone.

 

My argument is that if the order is made in favour of the lender then it is the lender that should be paid. If it is the case that there is a third party administrator then either there should be notification of assignment or the court should make it part of the order that Capstone should be paid and if all goes wrong you can fall back on the court as making the error by not requesting the same evidence. Failing all that then as far as I am concerned the Lender is to be paid but they provide no means of being able to make such payments.

 

Capstone claim they do not communicate with the lender whatsoever and they have full control over the account and what happens with it So we just end up back with the assignment of administration issue. At the end of the day I dont think it is unreasonable to ask for written authorisation from the lender and in theory the courts shouldnt see this as an unreasonable request either.

 

Sced

[ryde]

sced

Are they refusing to accept a cheque made out to your lender,you have every right to use the super can't give valid receipt excuse if this is the case,but I would inform the court of this fact and the fact that they will not show you their authorisation just to cover yourself,think you may have already done this?

[ryde]

eie

 

As I understand it if accounts and balance sheets have been deliberately manipulated to conceal large sums of money from potential creditors as may well be the case this is clear evidence of fraud. I know an accountant ( Known him for years actually). Could someone post it all in one place so I can ask him to have a look? This might be quite revealing.

 

I can post these all here in pdf form its just a matter of trawling back through the posts,mainly sceds.

What needs to be done is a chart or diagram showing whats owed by each one to whom then the whole picture will emerge and as most have been done seperately and with luck on a company by company basis there might be some big revelations and something that cannot now be covered up.

[ryde]

Dotty

any news from itbg ,now aka wayne it would seem.This is just his sort of subject.

[scedminc]

eie

 

As I understand it if accounts and balance sheets have been deliberately manipulated to conceal large sums of money from potential creditors as may well be the case this is clear evidence of fraud. I know an accountant ( Known him for years actually). Could someone post it all in one place so I can ask him to have a look? This might be quite revealing.

 

I can post these all here in pdf form its just a matter of trawling back through the posts,mainly sceds.

What needs to be done is a chart or diagram showing whats owed by each one to whom then the whole picture will emerge and as most have been done seperately and with luck on a company by company basis there might be some big revelations and something that cannot now be covered up.

 

I have all these on my computer so it will be easier for me to get them to save trawling through the posts.

 

I will upload them all to one post later today.

 

Sced

[scedminc]

sced

Are they refusing to accept a cheque made out to your lender,you have every right to use the super can't give valid receipt excuse if this is the case,but I would inform the court of this fact and the fact that they will not show you their authorisation just to cover yourself,think you may have already done this?

 

I dont have a personal cheque book i'm afraid so this is not an option. I have contacted the court to tell them but the clerk didn't seem overly interested and I assume they just put a note on the file.

 

Sced

[littledotty27]

Has anybody with a LMC mortgage been contacted over Capstone taking over the administration of their mortgage in April?

 

I had letter today,is this where I can object at LR?

[ryde]

Has anybody with a LMC mortgage been contacted over Capstone taking over the administration of their mortgage in April?

 

I had letter today,is this where I can object at LR?

 

Dotty can you post the exact contents of the letter the wording is important.

Simply taking over the administration means collecting the money etc.It would have to actually be from lmc not capstone unless capstone produced a letter of authorisation direct from lmc(an impossibility as they have no directors).

LMC would still hold the legal title to your mortgage.

If it says that the legal title is being transferred thats an entirely different matter.

[enoughisenough]

Got your pm Dotty...Ta! The Eagle has Landed...

[littledotty27]

Dotty can you post the exact contents of the letter the wording is important.

Simply taking over the administration means collecting the money etc.It would have to actually be from lmc not capstone unless capstone produced a letter of authorisation direct from lmc(an impossibility as they have no directors).

LMC would still hold the legal title to your mortgage.

If it says that the legal title is being transferred thats an entirely different matter

 

I will post it up later as I am just on my way out.

There is one thing though,my charges for being in arrears will be going up dramatically to £115pm where as now the arrears fee is 42.50.

 

Got your pm Dotty...Ta! The Eagle has Landed

 

No probs EIE,the eagle has certainly landed

[jetli]

Absolutely! Get it copied and send it recorded delivery. Copy or photograph the payment stapled to the letter. They seem to lose payments but get the letters. They may claim the cheque is unsigned, payment wasn't sent or whatever else they can dream up.

 

The cheque was cashed as I checked my Bank Account!!!

[littledotty27]

Ryde

 

Here is the letter & tarrif of charges sent today.

 

Pictures by littledotty27 - Photobucket

[brassed-off-2]

I received a letter today off capstone, it is stating that our payment on the 1st april will be increasing to £xxx.xx no mention of the libor rate increase infact it does not even state the libor rate at all..(old tricks die hard) in theory there is an overall increase if £1 something... Capstone are kindly informing us that we actually have a credit on our account of £12.xx. If we would like to use this against the april payment of £xxx.xx then we are invited to do so. Bearing in mind that we appeared in court in Feb 09, and have adhered to the payment arrangement agreed with the juge of cmp + £50 per month against the £6k + some arrears (mainly arising from crapstones ficticious charges and underhanded bullcrap) the arrears still stand at £6k + some. Why have they not used it against the arrears? (interestingly this credit has not shown up on any quarterly statements received either).

[ZillaK]

Thanks for the info LD..

 

..interesting letter you've received too.. seems to me that they're trying to shape up somewhat..

[ryde]

Dotty

from what it says it is administered for and on behalf of LMC so the legal charge will still be retained by LMC so no worries there at present.Will read through small print later,it will be interesting to see who signed the lmc headed paper.

We must get a plan together collectively to bring ITBG back from the wilderness.I think his head may have dropped.

[zither]

I received a letter today off capstone, it is stating that our payment on the 1st april will be increasing to £xxx.xx no mention of the libor rate increase infact it does not even state the libor rate at all..(old tricks die hard) in theory there is an overall increase if £1 something... Capstone are kindly informing us that we actually have a credit on our account of £12.xx. If we would like to use this against the april payment of £xxx.xx then we are invited to do so. Bearing in mind that we appeared in court in Feb 09, and have adhered to the payment arrangement agreed with the juge of cmp + £50 per month against the £6k + some arrears (mainly arising from crapstones ficticious charges and underhanded bullcrap) the arrears still stand at £6k + some. Why have they not used it against the arrears? (interestingly this credit has not shown up on any quarterly statements received either).

 

Isnt it strange that they write to tell you that the rate is going UP?, but when it goes DOWN we have to ring to find out what the new payment is!.

[ryde]

HAVE YOU ALL NOTICED SINCE THE INCIDENTS ON THIS SITE OF APPROXIMATELY A WEEK AGO AND THE CENSURE OF VARIOUS MEMBERS THE JAWs ARE NOW ATTEMPTING TO RAPIDLY PUT THEIR HOUSE IN ORDER ,NEW DIRECTORS AFTER 5 MONTHS, LETTERS FROM LMC AUTHORISING CAPSTONE AS ADMIN.

THERE ARE STILL THEIR ACCOUNTS HOWEVER WHICH THEY CANNOT CHANGE OR PUT IN ORDER,THATS WHERE THE CONCENTRATION IS NOW FULLY REQUIRED.

[Crapstone]

Sced

another 2 months to go by the look of it then,minimum.

RE authorisation I cannot find anything in the mortgage contract stating that capstone or anyone else is authorised to step into the lenders shoes and act for them can you? there is a bit about the right to assign but that is entirely seperate.

What infuriates me is that courts just accept this authorisation without demanding evidence of it even when the point is stressed and proof is demanded, because a solicitor presents the case,in fact capstone just assume the identity of the lender which in the case of sppl and lmc is a total impossibility.

I'm going to contact the feckin' FSA and ask them the reverse question;is their investigation into the 4 firms now over and have they all been exonerated ,might get a straight answer then.

 

It's stated that Capstone will administer..they can't hold money but have the power to act on their clients behalf. It's accepted that will be allowed to continue to do so until......The FSA are still keeping stum. I think even they didn't realised what was under the surface.

[scedminc]

It's stated that Capstone will administer..they can't hold money but have the power to act on their clients behalf. It's accepted that will be allowed to continue to do so until......The FSA are still keeping stum. I think even they didn't realised what was under the surface.

 

Its definately not stated that Capstone will administer. My mortgage was taken out when PML still administered their own mortgages.

[alisono]

Hi All, Advice please should I talk to my solicitor

I have received yesterday a letter from London Mortgage Company telling me as from around the 10th April 2010 my mortgage will be serviced in the future by Capstone Mortgage Services Limited. Very strange it says should I have an queries relating to the ongoing servicing call the LMC Customer services teams ot collections teams who will be available. However if I have any questions concerneing the communication sent I should call Capstone Customer Service who will be happy to asssit. A full list of charges for my account have been supplied on LMC headed paper with the Gloucester address on. The info states that Capstone will hold my mortgage deeds for and on the behalf of my lender. It also tells me that my mortgage payments and interest rates will be set and applied in accordance with my Mortgage Offer and the terms and conditions of my mortgage. Has this happened to others on this thread, perhaps if your reading Littledotty, I am wondering why it's only just been sent to me when I think alot of you have already have management by this company

[ryde]

It now seems quite apparent that the JAWs(lenders) are putting their house in order or at least attempting to.

The above letters although questionable as to authorisation as lmc have no employees are evidence of this.

It is my belief that the FSA having fined gmac as some token and example to the pressure against their own inertia intend to do little if anything else.

Their supposed invesigation should have been concluded in December,we are now in March.What exactly have they got to investigate??

The scale of capstones arrears charges levied is a published document.

All that is required is a comparison with industry acceptable standards and the gmac findings as a precedent,how long does that take , a week at most.

If their charges are above those of gmac and added to existing arrears they should be penalised on the same scale at the very least.

These new notifications are an indication to me that capstone may well have escaped any penalties and the intention is for the whole affair to be quietly brushed under the carpet.

I THINK THE ONLY WAY WE CAN GET ANY JUSTICE IF THIS IS INDEED THE CASE IS TO INVOLVE THE RELEVANT MPS.WHO CAN BE CONTACTED EASILY BY EMAIL.theyre the only ones with enough clout to force the FSA to do something.

Comments?Thoughts?

Edited March 7, 2010 by ryde