I need help!! Forged secured loan on my house by my EX :(

holly_hobby

Welcome Group are authorised and regulated by the FSA (which would be whom you would report improper lending practices as HT suggested is part of their normal mandate).

In the first place I would as I prev suggested, write a robust letter of complaint to Welcome, include a clear timeline of events, and the basis of your complaint re the unlawful charge. Don't waffle, be punchy (use bullet points for ease of reading/transparency - and the points raised in the replies you have recd here), and tell them what you want them to do to resolve your compalint i.e - remove the charge.

Now, lets see what they come back with.

If they refuse to remove the charge, you simply ask them to direct you to the legal caveats they are relying on in support of their actions.

Let them squirm and hang themselves ... because it is apparent that the charge is improper and not lawfully executed, and hopefully they will give up saving you further distress (in their realisation that you will pursue the matter thorough to conclusion via all appropriate regulatory and legal channels), in order that the charge be removed.

If not, well we take it further up the foodchain .....

Hope this helps (don't worry you've lots of help here if you need guidance)

Holly x

DTDfanBoy

I second the advice about a formal complaint to Welcome, followed by a complaint to the ombudsman if they don't play ball. The only problem I can see is that as Welcome have removed you from the contract, it may release Welcome from their obligation to investigate a formal complaint, and may also prevent the FOS from assisting. I'm sure someone more knowledgeable than myself may be able to offer some advice regarding this.

The good news is that once you have successfully had the charge removed from the property, it will be hard for Welcome to get their hands on any of your money, or to have any affect on your credit rating.

Chances are they will try to obtain a county court judgement against your husband, then apply for a charging order to be applied to your property. The goods news is that even if a charging order is obtained, as the property is jointly owned the land registry will only apply a restriction to your title, not an equitable charge.

If a restriction is in place your solicitor has an obligation to inform the chargee, Welcome, of the intent to dispose of the property, but does not have an obligation to pay any monies received from the sale to Welcome. You do need to have a good solicitor who is fully aware of the laws surrounding this area, they will need to give your buyers solicitor an undertaking that the restriction will fall away on completion, and if they are not fully aware of the legalities of this it is not something they will do. Generally the time between giving the chargee notice of the disposition, and the disposition taking place is not sufficient for the chargee to take any legal action capable of preventing the sale.

Obviously, if possible, you should dispose of the property before Welcome obtain a charging order, but if you track down a solicitor who is aware of the differences between a restriction and an equitable charge, you should have one with the knowledge to inform you correctly of what options are available to you.

Best of luck with the whole ordeal.

holly_hobby

A charging order may only be sought (but not necessarily awarded by the DJ), following non adherance to a CCJ - and is brought to the court by the OC or assignnee (if debt sold on).

Its a long, long way between where we are now, and any application for a charging order, which as noted can not be directly applied to a jointly owned property.

Hope this helps

Holly

DTDfanBoy

holly_hobby wrote: »

A charging order may only be sought (but not necessarily awarded by the DJ), following non adherance to a CCJ - and is brought to the court by the OC or assignnee (if debt sold on).

Its a long, long way between where we are now, and any application for a charging order, which as noted can not be directly applied to a jointly owned property.

Hope this helps

Holly

Very true, I was just hoping to show that even in a worst case scenario, after the current charge has been sucessfully removed, the OP will at worst stand to lose some legal fees, and not any equity in her property.

Given that a charging order issued by a judge is unable to obtain an equitable charge on the property, I can't imagine that the current charge is enforceable.

Linky to land registry information for anyone who is interested

http://www1.landregistry.gov.uk/training/free-online-resources/restrictions/standard-restrictions/standard-restrictions-form-k

Jayj

Hi OP

Just wondered if you managed to make progress with your case. My daughter and I are going through exactly the same thing with both Welcome finance and the Black Horse, it may be an idea to team up and add weight to the case?

Rooting for you!

DVardysShadow

Jayj wrote: »

Hi OP

Just wondered if you managed to make progress with your case. My daughter and I are going through exactly the same thing with both Welcome finance and the Black Horse, it may be an idea to team up and add weight to the case?

Rooting for you!

This thread has been dormant for nearly a year and OP may not be back. If you need any particular help, I suggest that you start a new thread.