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

[agatha c]

DO THEY HAVE TO GIVE ME THIS INFORMATION???

 

Plus breakdown figures.....

 

I cant be repossessed, then no information ?

[agatha c]

can I challange them on this... XX

[littledotty27]

Oh the lovely lightfoots!!!...the ones with no common sense,horrendous customer service and not a clue whats going on when they represent spml in court. How on earth did any of them manage to gain a law degree is beyond me!!

 

I don't think spml have complied with anybodys SAR's to be honest.

 

Well I have completed and emailed my submission to the treasury and have really ditched the dirt on them with what they have done too us.

[agatha c]

hAVE NO FIGURES, BUT KNOW, MAJOR THINGS WRONG XXX

 

 

tWO MONTHS AGO WAS WEAK BUT NOW JOANA LUMLEY

[agatha c]

I Will Be Doing The Same.

[Crapstone]

Just spent ages writing a post and lost it ...screeeamm:mad:

 

EIE,

 

Is the Law Society really going to listen when the profession relies on knowingly representing lying scumbags anyway?

 

I was thinking more along the lines of undue influence by the brokers and unconsionable bargain.

[enoughisenough]

Excellent dotty

;)

 

Make sure you post on the main thread. Just say mine's in... it gains momentum when people do this.

 

What they have done to you is vile and hideous and way beyond any boundary set for a regulated firm.

 

THE FSA are in for a drubbing by the EU if they don't enforce. And they know it.

 

EiE.

[enoughisenough]

Crapstone

 

There were about 11,000 complaints made to the law society last year. Some hold, some don't.

 

All I know at this stage are things are getting very critical - that the pressure is mounting and this is an avenue of exploration when we get a free moment.

 

It does seem to hold an interesting possibility. If the law firms acting for these barstewards are getting a little bit too cavalier with chasing the funny money they might forget to cross the Ts and dot the Is.

 

Just punting this out as a potential avenue of pressure.

[enoughisenough]

Hi Crapstone

 

Sorry about your lost thingymajig

 

Just get your mojo going again!

 

Best advice is to keep on keeping on.

[enoughisenough]

IN NEED OF MORE SUBMISSIONS

 

IF YOU ARE AFFECTED BY THIS OR HAVE ANY EXPERTISE PLEASE MAKE YOUR SUBMISSIONS BY 1ST JULY 2009

 

DETAILS ON THE FOLLOWING THREAD

 

THANKS ALL. KEEP THE FAITH

 

http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/205401-sub-prime-mortgages-call.html

[Suetonius]

lightfoots. I need this information as main partner e.mailed me with details of my objections to them selling my home, plus leaving my home unsecured and items missing and blamed me for not removing them before eviction. Estate agents also need to be questioned, he was putting people off buying the house. Have witness, who put in offer. Ive been told I cant complain, house did not belong to me anymore.......

 

Agatha c

 

Hello Agatha,

 

You can complain to the FOS about this.

 

 

• If your mortgage commenced on or after 31st October 2004
  

 

FSA Handbook - Full Handbook

MCOB 13.6 Repossessions

 

MCOB 13.6.1

 

A firm must ensure that, whenever a property is repossessed (whether voluntarily or through legal action) and it administers the regulated mortgage contract or home purchase plan in respect of that property, steps are taken to:

 

(1) market the property for sale as soon as possible; and

 

(2) obtain the best price that might reasonably be paid, taking account of factors such as market conditions as well as the continuing increase in the amount owed by the customer

 

• If your mortgage commenced before 31st October 2004, thus not regulated:
  

 

Handling of Arrears and Possessions

CML Statement of Practice January 1997

 

Sale of Properties in Possession

18. When selling properties which have been taken into possession lenders are under a duty to obtain the best price reasonably obtainable. A lender is not bound to postpone the sale in the hope of obtaining a better price at some future date; however, the lender should allow sufficient time to permit, for example, proper advertising so that the best price obtainable may be achieved. Mortgage lenders generally use the following administrative procedures for selling properties which have been taken into possession:

 

Administration

(a) The sale may be dealt with either via a lender's in-house department or through a separate property management company employed by the mortgage lender. Dedicated staff are responsible for coordinating the sale of properties in possession which will include reviewing the offers received from potential purchasers as well as monitoring the condition of these properties and their valuation.

 

Valuation

(b) A valuation of the property is obtained from either one or two qualified surveyors and another from the appointed estate agent. Prices are usually reviewed every three to four months and more often when the circumstances justify a revaluation.

 

Estate Agents

© Properties are usually marketed through an estate agent in the immediate locality of the property being sold. Agents may advertise properties in the local press, with such advertisements being repeated as and when necessary. Mail shots and national advertising may also be carried out in some cases. In general, lenders do not market these properties as "repossessed properties"; in many cases estate agents are specifically instructed not to do so.

 

Report on Activity

(d) Estate agents are usually required to report on activity every four to six weeks if a property remains unsold. The estate agent will notify a mortgage lender of any offers received. Only when satisfied that the best price has been obtained, would the estate agent recommend this offer for acceptance. If the offer is substantially below the asking price, the agent must provide supporting evidence to suggest that this would be the best offer obtained. In practice, all offers are accepted or declined promptly. Where there are a number of very close offers on a property, a sealed bid procedure may be carried out whereby the person putting forward the best offer would be the successful purchaser.

 

Visits to the Property

(e) The agent will usually visit the property on a regular basis and ensure that any repairs and maintenance to the property are carried out and that the property is secure. When properties are first put up for sale, mortgage lenders will usually arrange that essential repairs, cleaning and tidying of the garden are carried out. Whilst the estate agent will take care of minor repairs which are identified on the regular visits, other repairs usually require the approval of the mortgage lender. Where this work is carried out, estate agents will be required to obtain competitive estimates. Prospective purchasers will normally be accompanied by the agent when viewing a property.

 

Auction

(f) Properties in possession may be sold via auction. These properties are reviewed relative to sales experience and the length of time on the market. There are occasions when properties may be sold by auction because either the auction is specifically targeted at the type of property in question, eg a period type of residence, or the property will generally appeal to the speculator market because of its condition. Such properties are referred to an appropriate auctioneer. A catalogue would be issued and the properties are available for viewing. A reserve price is usually based on information relating to the number of viewings and general level of interest. A reserve price is set several days before the auction following consultation with a surveyor on the valuation of the property.

 

Proceeds of Sale

19. Following the sale of a property in possession, the proceeds of sale will be applied in the following way. First the lender will use the funds to meet the costs incurred in selling the property and to repay the outstanding mortgage including interest. If there are subsequent loans secured against the property any surplus will also be applied to repay these loans prior to any amounts being paid to the borrower. If there are insufficient proceeds of sale to repay the mortgage, the borrower will remain liable to repay any outstanding debt.

Edited June 25, 2009 by Suetonius
Thanks Capstone

[enoughisenough]

Hi Suetonious

 

The advice you gave our friend faced with triple repo action (on another newly started thread) was accurate, excellent and a cautionary note to all. He or she really does need a legal rep asap if he can be repossessed from scratch in seven days. In order to complain to the FOS when having a knife held at your throat you first have to write to the knife holder and give him eight weeks to behave himself. Great!

 

I'm afraid the rules and even the consequences of breaches of the rules by the knife holder will have to be observed by the plebs (that's us) long before they'll ever be observed by the pleb abusers.

 

Your post just now is very helpful by the way. (i.e the one above)

Edited June 24, 2009 by enoughisenough
typos (AGAIN!)

[Suetonius]

Thank you

[Crapstone]

Don't forget that most of the complaints are about own representatives and that it's extremely difficult to raise a case against one acting for another party.

 

I listed all cases I had been looking at in my 'lost' post, (my cat pulled the comp. lead out), starting at LLoyds v Bundy (1974) with Lord Dennings comments through to modern cases (Pitt, O'Brien, Holdgate) which tend to look more at neligence.

 

I will keep at it EIE, I have no choice. At the moment Capstone cannot produce a single document that has an SPML signature on it that relates to the execution of the mortgage.

 

I'm still waiting for a reply from them with regards to the complaint they reset and my LBA. I'm quite prepared to take them to court and time is ticking but they have gone all shy on me. An arrears letter and management fees are the norm. but the postman has been getting off lightly.

 

Agatha C,

 

It's terrible what you have gone through and words fail me when it comes to this company. Actually, they don't fail me but would be far too rude to print. When I read stories like yours it does give me the uumph and vigour to keep going and not only for myself but everyone that has and is facing the same.

 

Take care.

 

Crapstone

[Crapstone]

It's not hard to see why repo. is favoured and how they eat into your equity so readily. You are still liable for the mortgage, plus their fees for repo, plus monthly fees for managing the repo, house clearance fees, bailiffs, locksmiths, advertising, estate agents, auctioneers, repair fees, HIP costs, solicitors, insurance....with interest.

Edited June 26, 2009 by Crapstone

[enoughisenough]

Hi Crapstone

 

are you doing the TSC submission?

 

I really do feel that in the light of recent FSA 'activity' it's a further nudge in the right direction.

 

And given the angles you've covered in your posts it would really give the TSC a flavour of the before as well as the during and the after ( The after being the unfortunate agatha - at least at this point in time.) How many more are going through this hell? and as for the aftermath I posted quite extensively on this a while ago. They will go to town. the abuse is shocking.

 

They have to expect consequences if they are going to carry on like this.

[Crapstone]

Hi EIE,

 

Change the 'doing' to 'done'. I have summitted my case against them and it should be winging it's way to the TSC in all its glory. Every little helps...to coin a phrase.

 

At least we have a small support group here which is more than the poor souls from the last recession had. You can't help but be amazed that we all give up some time to help others and the same in return without any expectations of reward when so called charities are raking in thousands for poor quality advice and with little understanding.

 

I just hope we can all look back at SPML/Capstone in 10 years time as being just a turd on the landscape.

[enoughisenough]

And then of course you clean your shoes and make sure you don't step in any more of this dogpile... Excellent news in your submission. Would you be so kind as to post 'mines in!' on the submission thread it will encourage the others who haven't yet done so. Thanks

 

keep the faith. EiE

[Crapstone]

I'd don't think I'd clean my shoes. It's been a learning curb, and one I don't regret, but there are sure to more in the future to replace them. If I could shake these barstewards off tomorrow I'd still be here to help where and when possible even if I won a jackpot on the lottery.

 

We live and learn.

 

I'll gladly post 'mines in'....

[enoughisenough]

Excellent that should take some shine of the CLM and BBA whitewash. Daddy, what did you do in the credit crunch? I lied through my hind teeth to make sure that some very greedy people stole from the poor. Jonathan Sumption QC told their lordships that the banks aren't Robin hood in reverse. The facts say differently Mr. 50k a day!

[uneverdid]

Hi all well i got my subject access paperwork today well i got some they have not sent me hardly any of the letters i have had nor have they sent me any paperwork relating to the solicitors that represented them in court last nov and charged me £500 for the privilage. lots of the notes about telephone calls are deleted with just rows of stars !!!!!!!!!!!!!!!!! and i can't quite believe one of the letters it is dated 19th May and i certainly didnt receive it and it says i quote

 

"you recently contactred us regarding the death of Mr ***** (there is a name but obviously im not going to put it on here) i am sorry to hear this sad news in order to deal with this matter i must request that you provide

death cert

solicitors details

copy of will

confirmation of the person responsible for future mortgage payments.

 

it also attaches a declaration of confirmation of a deceased borrower

 

it has my mortgage account no on it and my address but this person who is unknown to me. This mortgage is in my sole name only and always has been. It asks who will be responsible for future mortgage payments.

 

WHAT IS GOING OFF ???????

 

Your responses much appreciated and where do you think i should go from here i have not contacted them yet as i want to make sure i do the right thing.

 

Thanks

 

N

[enoughisenough]

Can anyone offer quick reassuring and practical advice to the above post. I'm on the road!

[Mephistopheles]

Hi all well i got my subject access paperwork today well i got some they have not sent me hardly any of the letters i have had nor have they sent me any paperwork relating to the solicitors that represented them in court last nov and charged me £500 for the privilage. lots of the notes about telephone calls are deleted with just rows of stars !!!!!!!!!!!!!!!!! and i can't quite believe one of the letters it is dated 19th May and i certainly didnt receive it and it says i quote

 

"you recently contactred us regarding the death of Mr ***** (there is a name but obviously im not going to put it on here) i am sorry to hear this sad news in order to deal with this matter i must request that you provide

death cert

solicitors details

copy of will

confirmation of the person responsible for future mortgage payments.

 

it also attaches a declaration of confirmation of a deceased borrower

 

it has my mortgage account no on it and my address but this person who is unknown to me. This mortgage is in my sole name only and always has been. It asks who will be responsible for future mortgage payments.

 

WHAT IS GOING OFF ???????

 

Your responses much appreciated and where do you think i should go from here i have not contacted them yet as i want to make sure i do the right thing.

 

Thanks

 

N

 

 

Sounds like the company has made a mistake, I suggest 2 things, first call them, explain you have received the data access request and that it talks about a borrower been deceased and then explain to them that you are the mortgage owner and always have been and request them to look at why the information they have sent to you is different from what you believe.

 

Secondly, follow it up with a faxed letter of complaint that the data in the subject request is not with regards to your file and ask for an explanation.

 

Post back when they tell you whats going on.

 

Meph

[iconoclash]

hey - this is a serious breach of the data protection act surely - giving you the details of a deceased party - do the real family know about this????? - report this to the Information Commissioner (in my opinion) - if they can do this what else have they cocked up???

[Mephistopheles]

hey - this is a serious breach of the data protection act surely - giving you the details of a deceased party - do the real family know about this????? - report this to the Information Commissioner (in my opinion) - if they can do this what else have they cocked up???

 

 

Yes, that's really going to help his case when he's fighting an arrears situation, lets be serious, it looks like they've made a mistake, yes that may mean they've breached DPA and you could report them, but how's that going to help you??

 

Lets stick to the facts, whats the situation and why would these details be given to you?