waiver agreement hell

momchil74

hi everyone

we (me and my wife) have the following problem:
When we decided to buy a house in 2006 , found a house we like,offer accepted and the estate agency recommended a Lifetime Ltd to sort out our mortgage,which they did,but ask us to sigh a waiver agreement for the life insurance with L&G (Legal and General).Agreement state , that we have to keep the insurance for 48 months,or we have to pay certain sum if we dont keep it for that long-pretty standard waiver agreement.So we have signed the agreement on 31.10.2006.But five months later and few hundred pounds down the drain for researches and solicitors fee, the seller decide ,that he will not sale the house for reason unknown to us.Few months later we found another house we like and offer was accepted.Back to Lifetime Ltd,arranged the mortgage again,but we did not sign agreement for life insurance this time,and as we allready paid their fee for arranging the mortgage first time,everything went nice and smooth.We moved to the house on 17.08.2007.The person who arrange all this for us left the company few months later.On 2nd of September 2008 we had a letter informing us ,that Lifetime Ltd moved to a new company-Lifetime Wealth Management Ltd.Then couple of months later our saga began!We started to recieve letters informing us ,that we need to pay £777.25 ,becouse we did not keep the insurance with L&G for 48 months for the house we have never bought,and the insurance never started.We ignored all thoose letters as we tought,that the agreement we signed was for the house we never bought!They have been sending us letters now and then for the last couple of years,till the point they gave our details to "Direct Route"-commercial debt recovery specialist.We spoke with them over the phone,explaining ,that the agreement was for previos house,and the insurance never started,but they sad to call Lifetime wealth and sort the problem with them.We have been in touch with the same person ,who arrange the mortgage for us,and he keep saying,that we have nothing to worry about,and thoose agreements have no power in court,so to keep ignoring the letters or send them back to the sender.Yesturday we recieved the last letter from "Direct route" saying:"COURT SUMMONS BEING ISSUED TODAY ",unless we pay by 1st class post today.We really dont know what to do !Any kind of advice will be very very much appriciated!
Thanks in advance

magpiecottage

I'm confused.

The Companies House register shows there have been no less than five companies of that name (only one firm can have a particular name at any given time). The one in existence in 2006 was dissolved in 2008, another one was started in that year, dissolved earlier this year and another one has been founded.

Lifetime Limited does not appear on the FSA register and in 2006 would have needed to be to sell life assurance as well as a mortgage (other than a buy to let). That would suggest that it was trading illegally.

Lifetime Wealth Management Limited does exist, though and appears on both the Companies House and FSA registers at an address in St Albans.

It is currently an Appointed Representative of Intrinsic Financial Planning Limited of Wakefield House, Aspect Park, Pipers Way, Swindon, Wiltshire, SN3 1SA

It might be worth complaining to the Compliance Officer of Intrinsic at that address.