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are Santander mortgage arrears charges and legal fees fair? FOS say they are!

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Comments

  • dunstonh
    dunstonh Posts: 120,099 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Angry_Cat wrote: »
    As it was securitised, why not use the arguments the lender sold your mortgage and no longer has the right to repossess

    Irrelevant. It seems from your other posts that you are thinking of the US situation. However, in the UK individual mortgages are not sold on. The whole mortgage book is bought/sold. The terms of the mortgage have to be continued by the buyer.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • tifo
    tifo Posts: 2,155 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    dunstonh wrote: »
    The whole mortgage book is bought/sold.

    What does this mean?
  • dunstonh
    dunstonh Posts: 120,099 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    tifo wrote: »
    What does this mean?

    When a lender sells their mortgage business to another.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Angry_Cat
    Angry_Cat Posts: 102 Forumite
    edited 9 August 2012 at 2:39PM
    dunstonh wrote: »
    Irrelevant. It seems from your other posts that you are thinking of the US situation. However, in the UK individual mortgages are not sold on. The whole mortgage book is bought/sold. The terms of the mortgage have to be continued by the buyer.
    dunstonh wrote: »
    When a lender sells their mortgage business to another.

    Doesn't the mortgage include my mortgage then ?

    Besides I am not talking the wholesale of mortgage books between different lenders, I mean securitisation when the mortgage is sold to an Special Purpose Vehicle (SPV) who is not regulated by the FSA, whilst my mortgage is a regulated mortgage contract
  • Angry_Cat
    Angry_Cat Posts: 102 Forumite
    Wouldn't a mortgage book, be a book of individual mortgages dunstonh ?
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