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Banks face class action on SAM mortgages
EdInvestor
Posts: 15,749 Forumite
http://www.citywire.co.uk/personal/-/news/markets-companies-and-funds/content.aspx?ID=326713&re=4566&ea=156896&Page=1
Changes in the law prompt action against Barclays and HBOS.
Changes in the law prompt action against Barclays and HBOS.
Trying to keep it simple...
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Comments
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Long overdue..I took a BoS SAM to Gordon Brown several years ago ......as my clients lived in his constituency............When we first explained he was very sympathetic and made a 2nd appointment to meet again. A few days later I rcvd a call from his secretary cxl the appointment saying he couldn't help us any further..........I'm sure his didn't have a complete grasp of what it was and when he did he realised he was opening a can of worms and dropped it like hot bricks...............0
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More details on the lawsuit...
http://www.guardian.co.uk/money/2009/jan/24/shared-appreciation-mortgages-propertyTrying to keep it simple...0 -
If you or someone you know was sold one of these awful SAM's in the mid late 90's you could still join in the group action taking Barclays and Bank of Scotland(now HBOS).
RWP Solicitors are trying to contact everyone who was sold a SAM and are mounting a huge action against the banks backed by a big name QC.Participants are being asked to contribute £5,000 towards costs but stand to reduce the extortionate interest payable on redemption of the loan.For more information of how to join please see below.
http://www.samgroupaction.com/press-release-3009080
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