Loans before April 2007

Cashpig74

CHR15 wrote: »

Or these brainless people found a job, earned money, spent what they were paid, took a few loans out, repaid them, saved a few bob and now have to bail out the brainy ones by paying higher interest rates.

Oh dear, here's another selfrightous PC do-gooder "suck the bank manager co*ck" type again.

I guess, you;ve not reclimed PPI ot bank charges then? you've paid them all in full yeh?

Oh no, you;re going to tell me you've not been charged.

congrats mate - you are truley a mug then.

Edinburghlass_2

and you are a truly unpleasant person, have a nice night though

CHR15

I've had loans and credit in the past but never taken out PPI...ever!

Also I have never paid any unfair bank charges because I have only ever spent what I earn and paid my loan payments on the day I agreed to.

Complete Mug!

petermb_2

Can you guys please behave yourselves. This post has really brought out the plonker in most of you. Try behaving like gentlemen.

petermb_2

simon_templar wrote: »

Can you get mortgage loans written off? How cool would a free house be.

Your attempt at satire is not funny my friend. Actually you can get mortgages written off in certain circumstances.

petermb_2

petermb wrote: »

Your attempt at satire is not funny my friend. Actually you can get mortgages written off in certain circumstances.

To clarify
Mortgages can be deeemd to be voidable. It does not get you a "FREE" house but the balance of the loan could be written off in certain circumstances.

David_Aston

In the interests of clarity petermb, and because the Op is actually enquiring about the possibility of someone getting out of the repayment of a debt, could you explain the circumstances where the balance of a mortgage could be written off?

mummum2

One thinks you should all go and sit on the naughty step:p

petermb_2

David_Aston wrote: »

In the interests of clarity petermb, and because the Op is actually enquiring about the possibility of someone getting out of the repayment of a debt, could you explain the circumstances where the balance of a mortgage could be written off?

Sure.
You have to understand that for such an event to occur the lender must have broken the law of the land. These are not loop holes or errors but breach of common law.
In fact, breach of contract.

Many mortgages are arranged through brokers as you know. Both brokers and lenders alike have a duty to disclose the financial arrangements between them in setting up the loan.

Should they fail to disclose these financial arrangements ( in other words, commssions) and the client has no knowledge of their existance prior to the loan being arranged then the loan itself can be called into question.

In such an instance the mortgage may well be deemed voidable.

ILW

petermb wrote: »

Sure.
.

In such an instance the mortgage may well be deemed voidable.

Could they go for a possesion order at this point?