natwest lost my loan agreement

meerkat_manor

Hi All
This is my first post and I would like some help please.
My father and I took out a loan through our limited company back in 1997 for 93,000 to purchase a larger premisses of which Natwest wanted a legal charge on the premises for the security of the bank. We originally understood the loan to be for 10 years but natwest have now informed us it is for 15 years fixed at 10.25%. This is what we dispute with them and have wrote to them demanding a copy of the documents we signed. The have now put it in writing to us that the cannot find the loan documents but insist we still have to pay another 2 years as they have a charge on our premisses and will take charge if they have to.
Do I have to keep paying the payment.
Can they take charge of the building if I stop paying.
Can they take the monies out of our personal accounts.
To date for the 93,000 loan we have paid back 160,000 and they are asking for another 2 years with no document shown to us.
please advise.

CHR15

Show them your copy.

I'm sure the rules have changed a few times regarding reconstituted copies, hopefully someone will be along shortly more knowlegable than I.

Dabooka

1) What's your copy say?
2) What has beeen the arrangement for the last three years?

ess0two

Hav you lost your own copy also:cool:

meerkat_manor

We cant find our agreement but have it in writing from natwest they have lost the paperwork relating to the loan, they say we owe the money and have to pay for the next two years. But cant provide proof we owe the money. Can I stop paying the loan. Is there anything they can do with no documents.

jonesMUFCforever

They hold a legal charge over the property - they hold all the aces.

inmypocketnottheirs

jonesMUFCforever wrote: »

They hold a legal charge over the property - they hold all the aces.

Unfortunately this is the case.

Now if you can find your documents to prove them wrong.........

meerkat_manor

how can they pursue there money with no contract or terms & conditions. Surely I couldnt take anyone to court without my contract signed by them.

R0bert_Sterling

you really do not want to pay this debt off do you?

meerkat_manor

If they can prove I owe another 2 years then I will pay . But I dont want to pay another 2 years just on there say so. I have paid 160,000 to date for borrowing 93,000 .

R0bert_Sterling

What did your agreement say (maybe should have kept such an important document, I know I would if I borrowed £93k)

You have nothing to back up your claim either...!!

You can't just stop on your say so..