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  • FIRST POST
    • Tokyo Joe
    • By Tokyo Joe 5th Apr 16, 5:17 PM
    • 2Posts
    • 0Thanks
    Tokyo Joe
    Legal Quest
    • #1
    • 5th Apr 16, 5:17 PM
    Legal Quest 5th Apr 16 at 5:17 PM
    Does anyone here have any experience of dealing with this company?

    There website claims that up to 70% of your mortgage can be written off if they can prove your mortgage was securitised (packaged up and sold onto another lender).

    Sounds too good to be true; which always rings alarm bells with me.

    It sounds like all those previous claim companies who promised they could get your credit card balances written off
Page 1
    • minimike2
    • By minimike2 5th Apr 16, 5:26 PM
    • 1,911 Posts
    • 1,409 Thanks
    minimike2
    • #2
    • 5th Apr 16, 5:26 PM
    • #2
    • 5th Apr 16, 5:26 PM
    You already know the answer to this
    I am a mortgage industry professional. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
    • Tokyo Joe
    • By Tokyo Joe 5th Apr 16, 5:49 PM
    • 2 Posts
    • 0 Thanks
    Tokyo Joe
    • #3
    • 5th Apr 16, 5:49 PM
    • #3
    • 5th Apr 16, 5:49 PM
    Not quite sure what you mean?

    This is a genuine enquiry to see if anyone has used this company and if so, what the outcome was.

    Have I posted this on the wrong section of the forum?
    • csgohan4
    • By csgohan4 5th Apr 16, 5:51 PM
    • 3,958 Posts
    • 2,465 Thanks
    csgohan4
    • #4
    • 5th Apr 16, 5:51 PM
    • #4
    • 5th Apr 16, 5:51 PM
    I am not even going to entertain this thread with an answer

    Do you believe everything you read on the internet?
    • mrginge
    • By mrginge 5th Apr 16, 6:52 PM
    • 4,262 Posts
    • 7,594 Thanks
    mrginge
    • #5
    • 5th Apr 16, 6:52 PM
    • #5
    • 5th Apr 16, 6:52 PM
    I don't know whether to , , , or
    • AnotherJoe
    • By AnotherJoe 5th Apr 16, 8:16 PM
    • 7,562 Posts
    • 8,166 Thanks
    AnotherJoe
    • #6
    • 5th Apr 16, 8:16 PM
    • #6
    • 5th Apr 16, 8:16 PM
    you do realise "up to" 70% includes 0%. And a fee for checking no doubt.
    • minimike2
    • By minimike2 6th Apr 16, 9:01 AM
    • 1,911 Posts
    • 1,409 Thanks
    minimike2
    • #7
    • 6th Apr 16, 9:01 AM
    • #7
    • 6th Apr 16, 9:01 AM

    Sounds too good to be true; which always rings alarm bells with me.
    Originally posted by Tokyo Joe
    This is what I mean
    I am a mortgage industry professional. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
    • HappyHarry
    • By HappyHarry 16th Mar 17, 4:33 PM
    • 438 Posts
    • 687 Thanks
    HappyHarry
    • #8
    • 16th Mar 17, 4:33 PM
    • #8
    • 16th Mar 17, 4:33 PM
    Post by Bob007 marked as spam.

    For anyone thinking this is a good deal:
    1. It cost £260
    2. The warnings on the site promoted by Bob007 say "... must advise all potential clients that this matter has not yet been ‘proven’, or if it has, there has been No publicity to confirm a ‘successful win’.

    Sounds like a waste of £260 to me. Potentially worse if the "no-win no-fee" claim turns out to be untrue and someone ends up paying a lot of unnecessary legal costs..
    I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.
    • davidmcn
    • By davidmcn 16th Mar 17, 4:56 PM
    • 6,071 Posts
    • 5,823 Thanks
    davidmcn
    • #9
    • 16th Mar 17, 4:56 PM
    • #9
    • 16th Mar 17, 4:56 PM
    I also watched a movie they recommended to me 'Inside Job' which is very interesting and relates to Mortgage Securitisation.
    Originally posted by Bob007
    That's nice. Just don't drink the Kool-Aid.
    • HappyHarry
    • By HappyHarry 17th Mar 17, 4:34 PM
    • 438 Posts
    • 687 Thanks
    HappyHarry
    Sorry, I don't understand your comment.

    Look I do not understand what the issue is here. As mentioned before I have done my own research and then decided to sign up. What I would like to know from yourselves is if i have missed anything or if there is something I need to ask the company to get more clarification on, as from what your saying I shouldn't have signed up :/
    Originally posted by Bob007

    I think everyone on here thinks you have at best wasted £260.

    To sign up to this scheme, you have to expect that the companies involved in purchasing these debts of many tens of billions of pounds from mortgage companies have not done any due diligence beforehand.

    You have to believe Muhammad Wasim and his friends who appear to have no history in this area, beside recently setting up a website and a company, are such good legal experts that the companies holding these many tens billions of pounds of mortgage assets are going to roll over and wipe 75% of people's mortgage debt.

    I think you either;
    1. Have been scammed and are looking for positive re-enforcement of your belief that this is a good thing, or
    2. Are promoting a scam.

    There is nothing on the website, or history of the main protagonist, that leads me to believe that this is genuine.
    I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.
    • AnotherJoe
    • By AnotherJoe 23rd Mar 17, 12:29 PM
    • 7,562 Posts
    • 8,166 Thanks
    AnotherJoe
    Sorry, I don't understand your comment.

    Look I do not understand what the issue is here. As mentioned before I have done my own research and then decided to sign up. What I would like to know from yourselves is if i have missed anything /
    Originally posted by Bob007
    Yes, you will shortly be missing £260.

    In my opinion it’s worth spending £260 just to find out what your lender has been up to.
    Originally posted by Bob007
    • Whyalwaysme
    • By Whyalwaysme 22nd Jul 17, 11:19 PM
    • 1 Posts
    • 0 Thanks
    Whyalwaysme
    This Company Is a Scam
    Avoid using this company. They are a scam. My cousin has used this company for two mortgages and paid £520!!
    Now the poor girl is being told that she has to wait for 1600 other applicants before she can join a class action approach.

    Phones are hardly answered. She was not informed about a 14 day cooling off period.

    Just a bad experience all over which leaves a single parent £520 in the red.
    Calls to the office are hardly answered.

    AVOID!!!!
    • amnblog
    • By amnblog 23rd Jul 17, 8:52 AM
    • 10,020 Posts
    • 3,901 Thanks
    amnblog
    In some ways the clients almost deserve to lose the £260.

    Whether the rest of the market deserves to pay the costs of the lenders fending off these spurious claims is another issue.

    I remember a similar 'market' for a having credit cards written off emerging some years ago.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • Edi81
    • By Edi81 23rd Jul 17, 9:17 AM
    • 312 Posts
    • 189 Thanks
    Edi81
    What a load of rubbish on their website!
    So many inaccuracies of what a securitisation is and why banks do them! ��
    • Matador777
    • By Matador777 11th Sep 17, 12:04 AM
    • 24 Posts
    • 0 Thanks
    Matador777
    Does anyone here have any experience of dealing with this company?

    There website claims that up to 70% of your mortgage can be written off if they can prove your mortgage was securitised (packaged up and sold onto another lender).

    Sounds too good to be true; which always rings alarm bells with me.

    It sounds like all those previous claim companies who promised they could get your credit card balances written off
    Originally posted by Tokyo Joe
    Wait for the first batch to succeed.
    You can actually do this yourself. DSAR costs £10, Santander sell mortgages to Holmes Master and Fosse Master. ( Holmes Master and Sanatnder) trade from 2 triton sq .These 2 own the mortgages.
    • Michael Mathews 12345
    • By Michael Mathews 12345 18th Nov 17, 11:40 PM
    • 2 Posts
    • 0 Thanks
    Michael Mathews 12345
    Subrogation
    SUBROGATION

    If Peter pays Paul for me, then I now "rightly" owe Peter - even if I never agreed to Peter paying Paul (I owe it by substitution/subrogation)

    If I benefit from my mortgage being paid off by an "investor" (by accident, malfeasance or fraud etc), even if I have no relationship (agreement) with the "investor" and that "investor" has no legal interest (legal or equitable) in my property, the "investor" can still claim I owe him money "by subrogation" and then seek a charging order in a court against any property / properties of mine.

    Credit cards, personal loans etc are not "secured" when they are first given to someone, but if that person fails to pay the lender, the lender can seek a court order to secure them against any property they find you own and might have some equity in it.

    Simply defeating the security of the debt, does not defeat the debt – and an unsecured debt can always be secured through an application to a court for a charging order.

    Though in a case of “subrogation” (which is based in “Equitable Law” - in simple terms, law based on Fairness), a court might just directly substitute the bank for the investor as the person owed the money and owning the original charge – to ensure (“fairly”), that the investor is put in exactly the same position as the original bank lender eg: as 1st charge on a property with more than 1 charge.

    Subrogation is a rarefied area of law, but one most mortgage companies will deal in every day. Cases can be complex, but given what the mortgage companies might stand to lose if they did not stand up to claims of botched securitisation, they would throw their best lawyers at the case and tell them to spend whatever time it takes to defeat such claims.

    Even if your mortgage company has sold your mortgage (not just the income stream from it) onto other people (by Securitising it) and even if they made a right mess of the paperwork, it still holds that you benefited from having your mortgage paid off by that 3rd person and so owe him “rightly” (fairly) by "Subrogation".

    If Legal Quest PLC lost the case in court, that the securitisation paperwork was botched, then the court would likely award all the lengthy, expensive legal costs of the original lender against you personally. Legal Quest PLC state that “After The Event” (ATE) insurance would cover you for this – but you will have to decide how much you be able to rely on Legal Quest PLC and their After The Event Insurance in such circumstances.

    Also, note that any claim for debts by “subrogation” would be an entirely separate legal action, initiated by the investor after any original lender lost his case (if he did lose his case) and so would not be covered by any “No Win, No Fee” agreement or “After The Event” (ATE) insurance provided from or through Legal Quest PLC.

    "Subrogation" is part of "Equitable Law" - in simple terms, law (legal decisions) based on Fairness.

    See also: law of “Unjust Enrichment”

    If you signed up to Legal Quest PLC's "Contingency Fee Arrangement" (CFA - No Win, No FEE agreement) and they succeeded in getting a court to agree that the paperwork was botched and so the "charge" on your property was null and void, then you could find yourself owing 30% of the original mortgage amount to Legal Quest PLC as a success fee, 100% of the original mortgage amount by subrogation to the "investor" who bought the mortgage from your bank and huge legal costs for asserting the "investor's" rights by "subrogation". Ouch!

    Remember, mortgage companies weren’t born yesterday. They face such baseless attacks every day. They will know how to screw you – after all they screwed the entire country royally in 2008!

    18.11.17
    • Michael Mathews 12345
    • By Michael Mathews 12345 19th Nov 17, 12:09 AM
    • 2 Posts
    • 0 Thanks
    Michael Mathews 12345
    Threadbare
    The Ease You Mortgage website - "Mortgage Securitisation A Simple Explanation To What It Is"

    states [botched documentation] "is the entire reasoning behind the Ease Your Mortgage introducing the Legal Quest Mortgage Challenge"

    Given the pedigree of some of the solicitors behind this scheme, it seems surprising that they should hang their entire case on such a thin thread.
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