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

[wonderman]

Oh I think my mortgage has been securitised via Holmes Financing No 9 or thereabouts, but as Sue says it's probably ( if not definately) all legit and I won't start digressing into that as GR says..no I'll just keep watching and learning from you peeps...keep up the good work.

 

Smarterchick,

 

Having read a lot of horror stories on this site on the way these lenders carry on, don't you think it's a really sad day for justice if, as you say, it's all legitimate. There's no hope for any of us if this behaviour is, as Sue says, all legitimate.

 

We should all pack up and go home (only problem with that strategy is that ironically, a lot of Caggers don't have homes to go to). Oh well, that's just tough for borrowers as long as the courts deliver justice where the lenders are, as Sue says, conducting themselves legitimately.

[ryde]

Can anyone help with this re.unenforceable agreement .this will be shortly amongst other things be going to court so it is not hypothetical.

1)SPML/PML etc etc are attempting to register a first charge against a property I am involved in.

2)They state the charge is to secure the sum of £120000

3)Their solicitors actually have stated in the original application to the land registry that the charge is to secure the sum of £128000

4)So the actual lender and their own representatives disagree as to the amount the charge secures and their respective documentation supports both figures,the solicitors claiming on a recently discovered(manufactured) completion statement that the lender deducted £8000(non of which is broken down) (legal fees etc were seperate from this figure) from the total advance whereas the lender on their statement of fees and costs associated with the loan state this figure was actually only £1100

5)when this point has been raised that they are trying to register a charge that secures a sum that is in excess of that actually owed they have replied that this is a mere accounting issue and does not prevent the application for a charge to be completed and the charge registered,no explanation has been given for the big difference in figures and the court has not asked for one!!!!!

6)I cannot see how you can register a charge when the 2 parties involved the lender and their agent solicitor are both stating seperately it is to secure different figures.

7)Is there any applicable law that would make this unenforceable(basically its people lying to cover their own backs and a right stitch up yet again as they have added £8000 to the original loan figure forgetting that their own documentation they have already submitted some time ago to the court states the real figure)??

8)Its like me borrowing £10000 from the bank for a car on a secured loan the bank then trying to secure a loan for £12000

 

This whole debacle has been caused probably because all the paperwork has been lost and they're now both trying to invent and remanufacture it,trouble is the bufoons always seem to get away with it.

Edited November 18, 2009 by ryde

[wonderman]

You don't know me Mrs... :D

 

not so dumb smarterchick

 

 

Good on you smarterchick. Those of us on this site usually have a good fighting spirit to take on these loanshark lenders. Wish you all the best in your plight against the Homeloan No. 9 mob (or whatever they're called)

[wonderman]

Hi Ryde,

 

Smartchick has had some experience with unenforceable agreements. She said she'd post a link to some information earlier...so standby for her.

[JonCris]

Are SPML/PML not bankrupt & do not have the status to sue Also isn't their director being sued by CH

[ryde]

Are SPML/PML not bankrupt & do not have the status to sue Also isn't their director being sued by CH

WE ARE ALL LIVING IN HOPE BUT NOTHING OFFICIAL AT THE MOMENT

COULDN'T COME QUICK ENOUGH FOR ME.

[Suetonius]

You don't know me Mrs... :D

 

not so dumb smarterchick

 

Not so dumb at all

[Suetonius]

Hmmm 3 guests... 1 of you can log back in now

[kegi]

are you the left footed one or the right footed one sue:)

 

I'm both if its of any interest

 

kegi

[kegi]

found this on my travels first bit I take with a pinch of salt , the h/lighted bit does give one food for thought though

 

I have had massive problems with LMC,and think of them as thieves and cowboys. I stupidly took a loan out through a mortgage broker , i paid out £350 a month for 4 years then decided to remortgage to pay them off. In the end i hadnt paid of any of the £30000 balance and still had to pay a £6000 redemption fee! i requested a copy of my loan agreement and was told by them it had been damaged in a flood!! PLEASE STAY AWAY FROM LMC 3.6.2009

kegi

[kegi]

also this a reply to a ? on a forum from a newspaper /agony aunt

 

Your mortgage was, with many others, bought out by Eurosail but is still branded SPML, which was a subprime lender, and is now serviced by Capstone Mortgage Services. Capstone has explained your position which, you say, has helped you calm down, although you now realise you had not understood the commitment you took on.

 

I have wrote to her asking if she can prove it

 

kegi on the other side of the fence as it were

[Suetonius]

are you the left footed one or the right footed one sue:)

 

I'm both if its of any interest

 

kegi

 

Depends who I am dancing with.. If the mood takes me I can lead with the left or the right..,

 

but most of the time I am both too

[I'm the bad guy?]

Kegi,

 

Post up the response when you get it. Check this out~

 

Anyone with London Mortgage Company(LMC) or Southern Pacific Personal Loans Ltd(SPPL);

 

SPML bought all the mortgage assets from Matlock Bank Ltd/ta London Mortgage Company(LMC) on 2nd May 2006. On the 31st May 2006, SPML sold all the LMC mortgage assets to Southern Pacific Funding 5(an UNlimited company). The entire shares of SPF5, is held by Lehman Bros Holding Inc(USA). Anybody with an LMC mortgage has been paying into this 'private fund', through Capstone, and ultimately to a bankrupt company.

 

Companies House have confirmed, both these companies have NO directors, such that dissolution requests have been posted out to them. Anybody facing an action by these, should directly contact CH, as these entities have no call to do so. They have no representatives within the companies, and could constitute fraudulent activity.

 

Update: Called Home page : FSA Money made clear

 

tel# 0300 500 5000,

 

I made my complaint againt SPML/PML etc regarding 'wrongful trading', and last director under prosecution., and they said this is within the FSA remit to investigate, a breach of regulations. Also, they have to respond to you within 72hrs.

 

I would call them up if you are with LMC/SPPL and ask them how a company can be 'trading' with NO company directors, contrary to Companies Act 1985.

 

Can anyone say, in whose name they are currently paying LMC/SPPL ie on the cheques/DD etc. Is it made out to LMC/SPPL or SPML?

 

 

ITBG?

[littledotty27]

All our chq's are made out To London Mortgage Company & insurance to note nterest of Southern Pacific Mortgages Ltd

[gustavius rex]

Right Guys,

 

Anyone who have a bit to contribute to solving my current problems is very welcome to do so. This is the situation; l've got a mortgage with a, let's say ''near sub-prime'' lender. l have had arrears of around £10,000.00, which l paid off in full last year. Since then l fell in to arrears again and am in about the same situation as last year. l've tried to resolve the situation, but, have a lot of problems that l cannot go in to here. Now my lender has decided that he's had enough and called in the bailiffs for reposession by virtue of the suspended repo. from last year. This despite the fact that l did pay all of the arrears off. However, l made a new proposal, which is very good and would guarantee payments for the mortgage plus £300 towards the arrears. They kept me hanging on for several days, asking for various documents and verifications etc. only to turn me down today, with a week to go to the meeting with the hangman. l've lodged an application for a suspension based on a forthcoming application to set aside the previous suspended reposession using the Norgan Case Law and a complain to FSA, FOS, OFT et al. But, but, but, have only 6 days in front of me, with a weekend included. Advice and support guys!!!!!!!!!!!!!!!!!!

 

gustavius

[I'm the bad guy?]

Lil'D

 

As I have posted before, I can only emphasise that all the LMC mortgages were sold to Southern Pacific Funding 5 Ltd(matter of record) and now is an UNlimited company.

Originally, SPML bought all the mortgages from Matlock Bank Ltd, which traded as LONDON MORTGAGE COMPANY(LMC). SPML then used the 'branding of LMC' and this is what is listed on the FSA website. Then it SOLD the entire mortgage book to SPF5 on 31st May 2006. The entire share capital of SPF5 is held by Lehmans(USA) in bankruptcy.

 

I have no idea why you are paying SPML, they donot own your mortgage(OP-own opinion). I think others on this thread, can offer more on how to prove this, ie SAR etc. The SPML accounts 2006 absolutely state this, this is just plain fraud, and I would take the case to your local trading standards.

 

 

ITBG?

Edited November 18, 2009 by I'm the bad guy?

[I'm the bad guy?]

Gus,

 

would like to help, but we need to know who your lender is, as the course of action may vary

 

 

 

ITBG?

[Suetonius]

Right Guys,

 

Anyone who have a bit to contribute to solving my current problems is very welcome to do so. This is the situation; l've got a mortgage with a, let's say ''near sub-prime'' lender. l have had arrears of around £10,000.00, which l paid off in full last year. Since then l fell in to arrears again and am in about the same situation as last year. l've tried to resolve the situation, but, have a lot of problems that l cannot go in to here. Now my lender has decided that he's had enough and called in the bailiffs for reposession by virtue of the suspended repo. from last year. This despite the fact that l did pay all of the arrears off. However, l made a new proposal, which is very good and would guarantee payments for the mortgage plus £300 towards the arrears. They kept me hanging on for several days, asking for various documents and verifications etc. only to turn me down today, with a week to go to the meeting with the hangman. l've lodged an application for a suspension based on a forthcoming application to set aside the previous suspended reposession using the Norgan Case Law and a complain to FSA, FOS, OFT et al. But, but, but, have only 6 days in front of me, with a weekend included. Advice and support guys!!!!!!!!!!!!!!!!!!

 

gustavius

 

Given the short time frame, there is another avenue that it might not hurt to try. That is to email a complaint/ your proposal to the entire board of the bank in question. You could CC various reporters (Daily Mail is usually a good choice) and your MP (just for added weight)

 

All you would have to do is search google or the banks homepage and look for the board. Make a note of all of their names. google email @(bankname).com or .co.uk to identify the format of their email addresses.

 

Then write a message addressed to the Chairman cc'ed to all the other directors etc.

 

It may sound like a long shot but when you call and when you write, the people that you deal with have no real authority to do anything for you.

 

This way you go straight to the top, emphasis bad publicity, treating customers fairly (TCF) and the complaints that you have made to the FSA, FOS, OFT etc.

 

You have nothing to lose.

 

I did this once to my own bank, admittedly it was not for something as serious as this situation. However, I was contacted and my complaint was resolved within 24 hours of my first email.

 

Just something to consider.

 

**** Sorry also include something about the FSA and GMAC

Edited November 18, 2009 by Suetonius
typo

[I'm the bad guy?]

yeah, before you've even depressed the return button on your keyboard, you'll be out of house and home..

 

 

 

 

ITGG!

[Suetonius]

yeah, before you've even depressed the return button on your keyboard, you'll be out of house and home..

 

 

 

 

ITGG!

 

After your post yesterday, I begining to think you don't like me

[I'm the bad guy?]

sorry Sue,

 

its that boogga ITGG!, looks like he's on the loose again.

 

BOURNE4: MeMyselfI

 

 

 

ITBG?

[Suetonius]

If ITGG has so much time on his hands, I can suggest another thread he can post on

[I'm the bad guy?]

sorry don't do drugs.

 

 

 

 

 

ITGG!

[I'm the bad guy?]

APB: the suspect known as ITGG! is known to be female..

 

 

 

ITBG?

[Crapstone]

Right Guys,

 

Anyone who have a bit to contribute to solving my current problems is very welcome to do so. This is the situation; l've got a mortgage with a, let's say ''near sub-prime'' lender. l have had arrears of around £10,000.00, which l paid off in full last year. Since then l fell in to arrears again and am in about the same situation as last year. l've tried to resolve the situation, but, have a lot of problems that l cannot go in to here. Now my lender has decided that he's had enough and called in the bailiffs for reposession by virtue of the suspended repo. from last year. This despite the fact that l did pay all of the arrears off. However, l made a new proposal, which is very good and would guarantee payments for the mortgage plus £300 towards the arrears. They kept me hanging on for several days, asking for various documents and verifications etc. only to turn me down today, with a week to go to the meeting with the hangman. l've lodged an application for a suspension based on a forthcoming application to set aside the previous suspended reposession using the Norgan Case Law and a complain to FSA, FOS, OFT et al. But, but, but, have only 6 days in front of me, with a weekend included. Advice and support guys!!!!!!!!!!!!!!!!!!

 

gustavius

 

GR,

 

Get in touch with Site Team member Ell-en on the repossessions board..she is excellent at putting the wolves in their place. I could talk you through it but as it's a subject a bit too close to home so it's better if she could help you objectively. Be honest with her and she'll post the info you need off the boards to suit. The fact you have managed to clear the arrears before will go in your favour and so will your proposal of clearing the ones you have now.

 

You have my full support and I'm sure everyone here is in your corner. Keep strong and don't let the bar stewards wear you down.

 

 

My only word of advice is to keep it simple..your aim is to keep the roof over your head and not try to bring in complex legal arguments. Those can wait..

 

Just a note that I may not be posting very much in the next few days. My Dad had a heart attack today (his 4th) and isn't doing too well.

 

Love and respect you all. Just knowing you aren't alone does wonders for your moral.