beware of sub prime lenders and mortgage brookers

jeff12345659

SPML could not see a problem because they take a blinkered attitude, the only thing they see is profit, and to hell with the consequences!!!!!!!!

Ian_W

Jeff,
I have no professional or vested interest in this but the title above would, IMO, be a far more accurate title to your thread. The sub prime lender has been a victim of fraud and you a victim of identity theft.

Yes, I see what you are saying but when the instuctions to the solicitor let identity to be proved without any photo ID then this is wrong.

The proof of ID required by any solicitor are in respect of money laundering regs, I've no doubt, are standard probably from guidance by the Law Society. I have a letter from my solicitor listing acceptable proofs of ID for house purchase and only 2 are photo ID's [passport & major employers ID card]. The other 7 catagoies are not and include things like a recent Bank, BS, CC statement or passbook and Utility Bill. One of these needs to be produced together with a different item from a separate list to prove address and none of these need be a photo ID.

If those are sufficient to comply with UK money laundering statute, why would the solicitor be wrong to apply those standards to this case? As far as you've posted the solicitor had no knowledge that Mrs Jeff was quite prepared to go before them with an imposter posing as you and lie through her back teeth to secure a loan on a home she owned jointly with you.

As far as I can see your gripe lies not with the lender who was also defrauded nor with their solicitor. Your wife, on your own posting, is a thief, a liar and a cheat who was aided and abetted [maybe even counselled and procured] by an equally bent mortgage advisor. I just cannot see the majority of people condeming the lender for trying to recoup their losses until it was clearly shown to be fraud - the fact you're still with a women who would deceive you so seriously also fatally wounds your case IMO. She still owes the lender what she borrowed and defaulted on and, as others have said, should be inside doing at least 5 years.

Why should the lender write off the amount owed? Your wife cheated them out of it, she's got away with it so far in not going to prison where she should be, she should be made to repay the proceeds of her crime and I'm sorry if by sticking with her that means you suffer too - but that is your choice. Letting her off totally scot-free is rewarding her dishonesty.

matto

OP - are you aware of the established case law in this area. In particular:

Royal Bank of Scotland plc v Etridge (No 2)[2001]

As a minimum it requires the lender to send you a letter before the loan is made. Of course your wife may have intercepted this.

homer_j_3

matto wrote:

OP - are you aware of the established case law in this area. In particular:

Royal Bank of Scotland plc v Etridge (No 2)[2001]

As a minimum it requires the lender to send you a letter before the loan is made. Of course your wife may have intercepted this.

I think we have established that SPML have not acted imporperly but as the OP was only aware of the mortgage once reposession was requested, I think its fair to say that there will have been more than 1 letter leading upto reposession. I think its safe to presume that his wife was intercepting all correspondence and possibly phone calls.

jeff12345659

Yes my wife was intercepting the post but SPML never telephoned me. This dispite me having two numbers in the BT phone book and an answering machine message inviting any unanswered calls to ring my mobile number.
SPML made a statement saying that they had tried to get my number from directory inquires but "no listing was found". I obtained a letter from BT that stated my details had been listed for many years.
When I put this matter to SPML i dit not receive any explanation.
This is just one example of their lack of effort to contact me, until they want their pound of flesh!

AMILLIONDOLLARS

I have just read this thread right through.

Jeff

Just to say I feel really really sorry for you. I do not know how long you have been married, but it must cut you straight to the heart to know that the woman you love has been prepared to scarifice everything you have both worked in this manner.

I suspect that you are experiencing a lot of guilt because she did not feel that she could confide in you her money worries, and that goes some way to explain why you are sticking by her, that and your love.

As the others have said, unfortunately, she has defrauded the lender and you, and the money will have to be found to pay the lender back, no matter how the money was obtained.

I think your wife must be faced with the fact that if she does not get a job or some sort, of income, she will ultimately be responsible for the loss of her home. Guilt and blame will not get you anywhere, it is time to use your time constructively to put you back on the right track. What's done is done and can't be undone with a few letters of complaints. Its time for some actions, sell what you can to clear the arrears and go from there....

Good luck for the future, whatever it holds

God Bless

AMD

jeff12345659

AMILLIONDOLLARS wrote:

I have just read this thread right through.

Jeff

Just to say I feel really really sorry for you. I do not know how long you have been married, but it must cut you straight to the heart to know that the woman you love has been prepared to scarifice everything you have both worked in this manner.

I suspect that you are experiencing a lot of guilt because she did not feel that she could confide in you her money worries, and that goes some way to explain why you are sticking by her, that and your love.

As the others have said, unfortunately, she has defrauded the lender and you, and the money will have to be found to pay the lender back, no matter how the money was obtained.

I think your wife must be faced with the fact that if she does not get a job or some sort, of income, she will ultimately be responsible for the loss of her home. Guilt and blame will not get you anywhere, it is time to use your time constructively to put you back on the right track. What's done is done and can't be undone with a few letters of complaints. Its time for some actions, sell what you can to clear the arrears and go from there....

Good luck for the future, whatever it holds

God Bless

AMD

Thanks for your thoughts and comments.
If I could perhaps just put a few of the events in simple events as I see them.
1 My wife started a business
2 I took out a mortgage with the C&G ( decent lenders) to fund the business.
3 The business ran into trouble.
4 My wife was reluctant to admit the probelms.
5 She approached the morgage brookers who she new and sub-rented premisses from her.
6 The brookers could not arrange business finance so out of greed persuaded her to re-mortgage the property, without my knowledge. This mortgage is arranged with the I group and payes the G&C mortgage off.
7 My wife needed more money so the brooker said it would be better to start another mortgage-this of course gives them more fees . The mortgage is arranged with SPML and payes of the I Group.
8 Things start to go tits-up when arrears occur.
9 SPML send a debt counselor the report on the situation.
10 The debt counselor reports that he had a lenghty meeting with both of us. This is lie!! he even accepts a cheque from my account wife my wife forging my signature, in front of his eyes.
11 I find out about the SPML when the Court Baliffe arrives at my our house.
12 I inform SPML and request a meeting. They refuse to see me.
13 I employ a solicitor to help me. He was an absolute waste of time and money. The Court case to address these probelems was set for 4 months down the line. The solicitor get the statement from the debt counselor and doubts my story. He decides, without my sanction to adjourn the Court hearing. I challenge him and he tells me that the counsellor was b e sending a signed statement and this would discredit me. The counselor never submits the signed statement and eventually said that the had become confused.
14 Six months latter I appear in Court and it was a dissaster as the district Judge was overwhelmed by the counsel from SPML.
15 SPML said if I paid £4000.00 per month I could have the keys back to the house.
ISorry I have to go now but I will continue this saga tommorrow.

MortgageMamma

HI Jeff,

I just want to say I do feel sorry for you, but your wife is a despicable woman with no respect or consideration for you, and if she is capable of this I dread to think what else she is capable of if she gets desperate. Make sure your worth more alive. You are going to lose your house, no doubt about that, and I would suggest you lose your wife. Your relationship is likely to be wrecked and irrepairable once you've lost the house anyway. Self preservation is the key now Jeff. I'd walk away from this woman and situation before you end up having mental health checks. Pack a bag and fly off somewhere hot for a few months without her. I'm not saying run away from your problems, but if you are bancrupt and they are taking the house I can't see what else you can lose?

mamaoba

have you got kids? If not cut your losses and let your wife go to prison.

Ian_W

Jeff,
I disagree with MortgageMamma - if you still love your wife after all she's done to you that's your business and good luck to you. However, staying with her has consequences. She should be made to repay the money she obtained by fraud and as you are still with her that's bound to affect you - and rightly so. Fraud is theft - whatever other people did or didn't do - your wife fraudulently remortgaged your property NOT once, BUT TWICE!!

Wake up and smell the coffee, jeff. You can blame the greed of the brokers [whilst ignoring your wifes], the solicitor for not getting photo ID, the debt counsellor [if they accepted a forged cheque - your wife still forged it!!], your solicitor and the weak judge. But nowhere does your wife figure, other than to say she "was reluctant to admit the probelms" with her business.

Lots of us have business or financial problems and we don't want to admit or face up to them - but don't choose an alternative of lies, deception, impersonation, forgery and theft as a way out. Your wife did and should repay the money she stole - whatever the rights and wrongs of others you seem in total denial of this basic fact. The lender, broker, solicitor etc didn't force your wife to steal - she made that decision and should pay for it.

It seems, if you'll excuse an analogy, if your wife broke into my house and stole my TV - you'd be blaming me for have a yale lock rather than a 5 lever mortice and complaining that I shouldn't have my telly back because you'll miss the England match to-morrow.

Basic premise - you're wife shouldn't benefit from the proceeds of crime. Yes or No?