Mortgage problems

Mortgage problems

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One of my clients has a large mortgage debt with a PLC lender, not a bank or building society. They are constantly harassing him, threatening to turn him out onto the street and phoning him almost non-stop, so that he can't get on with his work. He is just over 70 and in poor health. He has been to debt counsellors and the CAB, but they are no help, and simply tell him that he should not have got into such a bad situation. He has no money to pay lawyers. Is there anything that can be done to stop the harassment?

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By alexmac
04th Mar 2011 12:50

One possibility....

I hesitate to mention this but......(and I not saying this is the best solution, just an option to consider)....If your client is in that situation there is a possibility he has been mis-sold. If you type mis-sold mortgage into google you will find a number of solicitors advertising their services. usually the way it works is that you pay an upfront fee for a review. If they think you have a case they will take it on. The best case is that he may get a large payout,  worst case they might delay any action from the lender for ages. If you speak to them they will let what they can do about your client specific situation.

You need be be careful when choosing a firm. Like everything there are good and bad ones. This is probably set to be the next mis-selling bandwagan and there are loads of firms gearing up for this now.

 

 

 

 

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By DMGbus
04th Mar 2011 13:48

Daily Mail news report Friday 4th March 2011 page 13

OK, not technical, and maybe not of direct application for your client, but I think worth reading is the headlined news report ""Tortured on the telephone" over a loan of £20,000.

In what is described as a landmark case (maybe not yet known to the Citizens Advice Bureau people) a High Court judge has set aside the £20,000 debt because of "technical reasons" and "torture" / "bullying".

The first recommendation therefore is that your client records the incoming 'phone calls and keeps a log of them.

 

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By ACDWebb
04th Mar 2011 14:19

Re above

there is a link in the HMRC Bullying Tactics thread

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By Cantona1
04th Mar 2011 15:05

Mortgage problems

It is not clear why the lender is harrassing him. I presume it is for non payment of his monthly repayment. I do not think he has lots of choice but to deal with his lender. The lender has not right to harrass him. Lenders have to follow certain steps and procedures before they can apply for repossession of the property. Did your cliecnt the mortage from one of the Shark house?

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By bernard michael bayly
04th Mar 2011 15:06

Mortgage problems

Do you know the name of the PLC he got his mortgage from?

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By sjdavidson
05th Mar 2011 18:29

FURTHER POINTS

I  RAISED  A  LOAN  THROUGH  AN  INTERMEDIARY,  BUT  WITHOUT  KNOWING  IT  THE  INTERMEDIARY  EXAGERATED  THE  FIGURES  WITH  THE  RESULT  THAT  I  RAN  INTO  TROUBLE  AS  THE  INTEREST  RATES  INCREASED.

 

BY  THE  WAY  MY  MORTGAGE  COMPANY  IS  KENSINGTON.

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David Winch
By David Winch
05th Mar 2011 19:39

See a solicitor

SJD

Are you saying that incorrect information was put on the mortgage application and now you are struggling to keep up the repayments?  Are you also saying that at the time the mortgage was obtained you were unaware of the incorrect information, but you have since found out about it?  Did you sign a mortgage application without reading it?  Did you sign it blank?  Are you an accountant?  Have you had any other dealings with the same intermediary?  Could incorrect information have been put on other applications dealt with by that intermediary but connected to you or clients of yours? Did you receive any share of commission from the intermediary?

I would suggest that you see a solicitor to get legal advice.

If false information has been sent dishonestly to the mortgage company in the application then a criminal offence is likely to have been committed by someone.  If the intermediary was responsible for it and you knew nothing about it then it is him rather than you that has committed a criminal offence.  However if you had an active role in deceiving the mortgage company (i.e. you were deliberately dishonest yourself) then you have committed a criminal offence.  It is possible that both you and the intermediary have committed criminal offences.

In practice no-one may take any action about the criminal offences.  But the risk that someone will is increased if any of the following apply: (1) the mortgage cannot be repaid and the lender loses money, (2) either yourself or the intermediary come under police investigation and are convicted in some other connection, (3) the intermediary has been involved in a number of false mortgage applications which come to the attention of the lender.

Do not worry about this too much, but do see a solicitor to get some legal advice.

David

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By sjdavidson
06th Mar 2011 15:09

FURTHER POINTS.

DEAR  DAVID,

THANK  YOU  FOR  YOUR  PROMPT  REPLY.

I  WILL  DIGEST  IT OVER  THE  NEXT  FEW  DAYS.

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By petestar1969
09th Mar 2011 12:34

Just tell him to pay the debt...

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