beware of sub prime lenders and mortgage brookers

jeff12345659

I have been involved with a sub prime lender,Southern Pacific Mortgage Ltd. They have done their best to re-possess my property due to payment defaults. This you might not think as strange but here is the difference. I have not signed any mortgage agreement with them. A very dodgy mortgage brooker persuaded my wife to enter into a joint mortgage without my knowledge.
Despite SPML eventually admitting that I was not a party to any mortgage with them they have done their utmost to sell my property and to hell with the rights and wrongs on this matter.
I don't believe a High Street lender would behave in this manner.
My advise to anyone using people like SPML is to be very carefull, they are very ruthless.
If anyone else has similar experiences I would love to hear from you
Jeff
Many thanks to those people who replied. I can understand that some of you were rather sceptical about my story, I would be to.
This is just a brief scenario and there are many more facets to this saga. I have to state that SPML have behaved very badly and are continuing to do so.
They maitain I have benifited from the monies they loaned. This is quite untrue and I have suffered much anguish and dispair over this matter.

HelpWhereIcan

Hi Jeff

Wow. That really is a very sad story. Please tell more about the situation. I would be very interested to know more, in particular

1. How the broker and your wife managed to get the remortgage to SPML through without the solicitor involved/SPML becoming suspicious.
2. Have you/SPML pursued your wife and the broker for mortgage fraud?
3. Have you put in a formal complaint with the broker's employer/regulator?
4. Have SPML managed to show you any documentation with your signature on.
5. What has the court had to say about the case when SPML went for repossession?
6. What grounds have SPML pursued the repossesion on in light of you being able to prove that your wife was duped and you were not party to the mortgage?

I hope you manage to get some justice in all this. Let me know how you get on.

homer_j_3

Sounds like you have had a traumatic time with this, which to be fair has all been based on farud by your wife and the broker.

Clearly anybody who has obtained a mortgage will know that you must sign your name numerous amounts of times and the broker must have been either very niave or compliant to what was going on.

As HWIC states, there are several routes open to you and I too would be very interested in hearing what steps you have taken.

There too could have been solicitors involved and I am guessing that these must have been conveyancers that deal with things by post for this to carry on as they too would have certainly been very suspicious.

jeff12345659

Thanks for your reply.
This is a very long and complex story.
In fact two fraudulent mortgages were arranged. The first one was with the I Group and then with SPML.
The solicitor was appointed by the mortgage broker and I suspect was in league with solicitor.
The broker arranged a stand in to impersonate me and the sinature did not look anything like my own and he was a good deal younger than me.
At SPML's insistance I had to employ a handwriting expert to back up my claim.
At the time the Court issued the order I was unaware of any proceedings and therefore the Court was unaware of the fraud.
It was not until the Court baliff arrived to evict me that I was aware of any mortgage with SPML.
I have been fighting this case for three years and due to SPML's actions I have been made a bankrupt.
You might find this story hard to believe but it is true.
If you would like to full details then let me have an email address and you can have the full details.
I seem to be the easy target to recoupe the money.
I employed a solicior to fight my cause and he sat on his hands for six months, a big mistake on my part and never again.
Jeff

silvercar

Persuading your wife to sign documents I can understand, persuading your wife to sign your signature is getting dodgy, persuading your wife to go to a solictor's office with an impersonator is ridiculous.

MortgageMamma

HI Jeff

I happen to be good friends with one of the original founders of SPML before they were bought out and would be very interested to hear more about your story. Can I ask though have you just joined this site to post regarding your experiences with spml? are you a member of any other websites similar to this one? Have you been granted a suspended possession order? How have the mortgages on your property been arranged? is it two mortgages for the full property value? whats the situation with the land registry?

jeff12345659

You may think that it is ridiculous but It is the truth. The brokers involved in this are now in liquidation, what a surprise!!

jeff12345659

You may think that it is ridiculous but It is the truth. The brokers involved in this are now in liquidation, what a surprise!!

MortgageMamma

silvercar wrote:

Persuading your wife to sign documents I can understand, persuading your wife to sign your signature is getting dodgy, persuading your wife to go to a solictor's office with an impersonator is ridiculous.

I agree silvercar. perhaps the name of this post should be changed to "beware of your wife, beware of dodgy brokers and beware of being recommended a solicitor by a broker".
I really cant see what SPML have done wrong here except try to recover money that they are truly owed.

To the OP, have you reported this to the fraud office? What have they said? where is your wife now? are they being looked for?

MortgageMamma

Liqiudation or not, I can assure you if the brokers involved in this were traceable, they would be IN PRISON. So would your wife, the solicitor, and possibly the lender could be fined. What are your wife's reasons for doing this?

homer_j_3

Wow.. I am quite speechless in terms of how you must have been feeling whilst all this has gone on.

It sounds like you have been stuffed and I am not sure where this leaves you in the grand scheme of things. I certainly would be seeking the FSA to get involved with the mortgage broker and he should be stripped of his ability to sell products.

I would also be speaking to the police to press charges against your wife, broker and the impersonater. Effectively you have been a victim of identity theft.

Lets see if anyone else can offer any advice..