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Welcome Finance - This company needs to be banned.


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for BO2 Click for Full Contents

 

What is mortgage indemnity insurance?

 

This is one of those sneaky

mortgage fees that goes by a whole raft of names.

 

You may hear it referred to as a mortgage indemnity guarantee (MIG), higher-lending fee or charge (HLC), additional security fee or mortgage advance premium.

 

In a nutshell, it's a form of insurance that you pay for but that actually benefits your lender.

 

It is designed to reimburse the lender if you borrow a high proportion of your property's value typically 90 per cent or more and can't keep up the repayments.

 

Roughly two-thirds of mortgage lenders will charge a mortgage indemnity premium for borrowing at this level.

 

How it works

 

If you fall badly behind with your repayments, your lender is perfectly entitled to evict you from your home and sell it.

 

Depending on the condition of the property or the prevailing market, it may end up selling for less than you owe on your mortgage.

 

It will then use the mortgage indemnity policy to make up the difference.

 

But that doesn't mean you're off the hook.

 

Chances are your lender will still come after you for the shortfall.

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for BO2 Click for Full Contents

 

What is mortgage indemnity insurance?

 

This is one of those sneaky

mortgage fees that goes by a whole raft of names.

 

You may hear it referred to as a mortgage indemnity guarantee (MIG), higher-lending fee or charge (HLC), additional security fee or mortgage advance premium.

 

In a nutshell, it's a form of insurance that you pay for but that actually benefits your lender.

 

It is designed to reimburse the lender if you borrow a high proportion of your property's value typically

90 per cent or more and can't keep up the repayments.

 

Roughly two-thirds of

mortgage lenders will charge a mortgage indemnity premium for borrowing at this level.

 

How it works

 

If you fall badly behind with your repayments, your lender is perfectly entitled to evict you from your home and sell it.

 

Depending on the condition of the property or the prevailing market, it may end up selling for less than you owe on your mortgage.

 

It will then use the mortgage indemnity policy to make up the difference.

 

But that doesn't mean you're off the hook.

 

Chances are your lender will still come after you for the shortfall.

 

Thanks Bobbydog,

 

Its the property value thing that has me baffled, the 1st loan we took was only for £8k, so plenty of equity in property even after main mortgage with other ****** lender ?

 

b-o-2

ANYBODY WHO NEEDS INFO ON YOUR LEHMANS MORTGAGE

either SPML/PML/LMC/SPPL; the following are DIRECT tel#s,

of the investigating & prosecuting organisations: DONOT say you are from CAG-only directly affected or a concerned citizen.

 

1. Companies House: Kevin Hughes(Compliance Manager-main) @ 02920 380 633

2. CH : Lee Jenkins(prosecuting Amany Attia(MD) for SPML/PML) @ 02920 380 643

3. CH : Mark Youde(accounts compliance) @ 02920 380 955

 

4. Companies Investigation Branch(CIB) : Charlotte Allan @ 0207 596 6108

(part of the Insolvency Service) investigating all the Lehman lenders

 

5. CIB : Jeremy Pilcher('unofficial'-consumer/company lawyer) : @ 0207 637 6231

__________________

File YOUR 'Companies Investigation Branch'- CIB complaint online NOW!!!!

 

http://www.insolvency.gov.uk/complaintformcib.htm

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Anyone had a call from Welcome on this number 01724 its humberside north lincolnshire, twice this week first time they rang the guy gave his name and said he was from L an B well thats what my partner thought, he rang today and said welcome, just wondered if anyone had any ideas, thanks.

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MMmmmmmm

 

Strange Things are happening !!!

 

Phone call off Area Manager!!

 

Questions being asked about our paperwork!!

Must have been reading up on here!! Never once put the answer to that particular question in writing to them!!

 

Area Manager left his private number with OH, for me to call them back!!!

 

Someones flutter-valve is a fluttering!!! Brown stuff on target for fan...me thinks!!!

 

B-O-2

ANYBODY WHO NEEDS INFO ON YOUR LEHMANS MORTGAGE

either SPML/PML/LMC/SPPL; the following are DIRECT tel#s,

of the investigating & prosecuting organisations: DONOT say you are from CAG-only directly affected or a concerned citizen.

 

1. Companies House: Kevin Hughes(Compliance Manager-main) @ 02920 380 633

2. CH : Lee Jenkins(prosecuting Amany Attia(MD) for SPML/PML) @ 02920 380 643

3. CH : Mark Youde(accounts compliance) @ 02920 380 955

 

4. Companies Investigation Branch(CIB) : Charlotte Allan @ 0207 596 6108

(part of the Insolvency Service) investigating all the Lehman lenders

 

5. CIB : Jeremy Pilcher('unofficial'-consumer/company lawyer) : @ 0207 637 6231

__________________

File YOUR 'Companies Investigation Branch'- CIB complaint online NOW!!!!

 

http://www.insolvency.gov.uk/complaintformcib.htm

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Anyone had a call from Welcome on this number 01724 its humberside north lincolnshire, twice this week first time they rang the guy gave his name and said he was from L an B well thats what my partner thought, he rang today and said welcome, just wondered if anyone had any ideas, thanks.

 

 

 

Its not "L and B", its "LMB", it stands for Local Management Branch. It means they're ramping up the collections activity a bit. I guess they're getting a bit strapped for cash in the Lincolnshire Office!!!!!!!!!!

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Hi any one know what the best course of action is for "lifted signatures"

 

got some info back off the broker today... 2 documesnts id never seen before... needs questionaires to do with insurances...with my signatures on them... identical to signatures on my agreement.

 

i never signed these agreements

 

any idea of how to progress?

 

also no info on commisions as i asked for... nad they addmited welcome paid them.

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Its not "L and B", its "LMB", it stands for Local Management Branch. It means they're ramping up the collections activity a bit. I guess they're getting a bit strapped for cash in the Lincolnshire Office!!!!!!!!!!

Thanks for that, but i live in Yorkshire but my local branch has shut down, guess they throwing accounts here there and everywhere lol

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Just Giving The Good News

 

Welcome/cohen Have Given Up Against Prudence

 

She Won

is there a thread on the subject post?

 

Id like to ensure that if the case is discontinued that costs are maximised, it would be rude not to:D

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help please.

sis recieved default notice through post on sat 18th april.

default notice says.default date 14th april.

 

so not giving the 14 days?

 

am concerned as it says

to remedy the breach you must pay the arrears of ....within fourteen(14)days

 

is this invalid should it actually say a date?

 

yes from welcome.nothing on credit file as yet,and its a month.

SAM:pLOWELL DETESTER

SAM:pLOWELL DETESTER.

 

SO PROUD OF MY AVATAR,THAT TOOK ME WEEKS TO WORK OUT HOW TO GET ONE.:lol:

 

PLZ CLICK MY SCALES IF YOU LIKE WHAT I SAY.

OR IF I HAVE HELPED IN ANY WAY.:smile:

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Hi Sam I had the same thing did yours say without prejudice as well, if you see my earlier post you will see I sent a copy off to The FOS think it is just thier last ditch attempt to frighten people into giving them money for the black hole they have created, but someone with more knowledge should answer you soon.

 

Dene

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Hi Sam I had the same thing did yours say without prejudice as well, if you see my earlier post you will see I sent a copy off to The FOS think it is just thier last ditch attempt to frighten people into giving them money for the black hole they have created, but someone with more knowledge should answer you soon.

 

Dene

 

yes it was headed without prejudice.

thought i had seen these off in january when i found out about the crap they had pulled on her,shes not payed since december.heard nothing,then told me about this today.

 

going to have to start a new thread now,they were told to forget it,or we will be taking them to court for fraud.

looking forward to the battle.:grin:

SAM

SAM:pLOWELL DETESTER.

 

SO PROUD OF MY AVATAR,THAT TOOK ME WEEKS TO WORK OUT HOW TO GET ONE.:lol:

 

PLZ CLICK MY SCALES IF YOU LIKE WHAT I SAY.

OR IF I HAVE HELPED IN ANY WAY.:smile:

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yes it was headed without prejudice.

thought i had seen these off in january when i found out about the crap they had pulled on her,shes not payed since december.heard nothing,then told me about this today.

 

going to have to start a new thread now,they were told to forget it,or we will be taking them to court for fraud.

looking forward to the battle.:grin:

SAM

 

 

What does it mean when it states "without Prejudice".

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Without Prejudice Means The Letter Cant Be Used In Court With Out The Agreement Of Both Sides

 

They Normally Use This When A Party Has Some Thing To Hide

 

well at least 7 things to hide in sisters case.:grin:

well be starting her thread tomorrow.

going for welcomes throat:evil:

not sure where to start,so ill put whats happened so far.

and hope for some help for best route to take.

SAM:pLOWELL DETESTER

SAM:pLOWELL DETESTER.

 

SO PROUD OF MY AVATAR,THAT TOOK ME WEEKS TO WORK OUT HOW TO GET ONE.:lol:

 

PLZ CLICK MY SCALES IF YOU LIKE WHAT I SAY.

OR IF I HAVE HELPED IN ANY WAY.:smile:

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Hi Everyone,

Last month I contacted Equifax to say that the loan term on my credit report for Welcome was incorrect (it said 25 months when it should be 24) and that I wanted the false data removed. Welcome were quite quick to respond to Equifax and they amended the term to 24 months.

Just looked at my credit report this morning and have noticed that Welcome have changed it back to 25 months! Have contacted Equifax again asking them to remove the data again.

Has this happened to anyone else?

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Same here - my has incresed on experian back to 37 though it was ammended last month to 36.

 

I thik it's when the system updates - obviously Welcome haven't updated it on their automated system so it sends false information back to the CRA

 

I've complained again too.

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