Secret Commissions?

jonesMUFCforever

What difference does it make - you are a sub prime borrower who got documents showing how much you borrowed.
What do you hope to achieve a refund of this secret amount?
If so it won't happen as it has nothing to do with you.

~Brock~

The OP is probably referring to issues highlighted in Wilson v Hurstanger (2007) .

petermb............................over to you

petermb_2

I actually dont agree that a secret commission has been paid. An undisclosed commission has been paid and the OP is likely to be due that amount plus interest back. There is very likely to be a document that removes the secrecy.
I would have to see the docs that were provided by the broker to give a definitive.

petermb_2

jonesMUFCforever wrote: »

Don't take a loan through them again?

Sorry but I don't understand your post.
If the information was freely available when you made your SAR why is it a secret?

Disclosure must be made prior to the agreement being made, in law. The fact that it is available after the event is irrelevant unless the lender's documentation states that the borrower has the right to ask. This simply did not happen in the vast majority fo cases.

petermb_2

jonesMUFCforever wrote: »

What difference does it make - you are a sub prime borrower who got documents showing how much you borrowed.
What do you hope to achieve a refund of this secret amount?
If so it won't happen as it has nothing to do with you.

Wishful thinking perhaps but hardly fact.

sophiak

Thank you for your humble opinion and reply petermb,
Thanks brock for your in put, much appreciated,
I am waiting for SAR from my broker. Is there any document that I can upload for you to see that might make it a bit clearer?

petermb_2

sophiak wrote: »

Thank you for your humble opinion and reply petermb,
Thanks brock for your in put, much appreciated,
I am waiting for SAR from my broker. Is there any document that I can upload for you to see that might make it a bit clearer?

I would see what the broker comes back with. You may also wish to sarn the lender later too. I would like to see a copy of your agreement to assess the sitation more. Also were you provided with a "FISA" booklet by either the broker or the lender?

sophiak

Thanks petermb,

I was not supplied with a FISA booklet by either, oh thank god someone understands what I am ranting on about, anyway I can post up the agreement for you to see. Would you like me to pm it to you or shall I post it up on my thread and also could please explain what a "SARN" to the lender means.
I sent my lender B/Finance a SAR that's all. I also sent my broker Ocean Finance a SAR last week.

petermb_2

sophiak wrote: »

Thanks petermb,

I was not supplied with a FISA booklet by either, oh thank god someone understands what I am ranting on about, anyway I can post up the agreement for you to see. Would you like me to pm it to you or shall I post it up on my thread and also could please explain what a "SARN" to the lender means.
I sent my lender B/Finance a SAR that's all. I also sent my broker Ocean Finance a SAR last week.

SARN stands for Subject Access Request Notice. The official request for information under the DATA Protection Act. Some people refer to SAR but force of habit makes me give it the official title.

sophiak

Thanks, that's cleared that up for me