AVCO Trust

kayjay433

Good Afternoon

Wonder if anyone knows how I can get a charge removed off my Mortgage from a company called AVCO trust, who have now been taken over by Citibank. It seems that I took out a secure loan, back in 1999, which I have no recollection about and therefore, have no account details. I am now in the process of selling my house, but its being delayed as there is a charge showing, which obviously will be paid off, but cannot proceed until I have documentation stating this. Unfortunately AVCO trust are no more and myself and my solicitor are having problems sorting this. I am a little worried my buyer will pull out as its been 7 weeks today since I accepted his offer. My solicitor assures me this will get sorted, but as the company we are trying to contact are down in Canary Wharf, could take some time, a luxury we don't really have.

Anyone else had this issue or can offer any advice at all??

TIA

Kerry

robber2

I'm sure phone calls, emails and even letters can get to Canary Wharf just as quickly as they can get to your next town.

According to Companies house records AVCO trust are still listed and had assests at the end of last year of £74M.

I'd suggest its time you gave your solicitor a good kick and tell them to stop b*ggering about

kayjay433

She suggested about 3 weeks ago that I contact them as she was having no luck and as a previous customer, I might...nope, no luck at all (I wrote 2 letters). She said she cannot find any phone number for them, but has managed to find an email address, but still no luck, they are just not responding to any of us. Its really annoying as it will be paid off, I just need a letter confirming this.

robber2

try some citibank numbers; theres a few to choose from here;

https://www.citibank.co.uk/personal/contact-us.do

kayjay433

I'll contact my solicitor tomorrow with those numbers, thank you.

PeacefulWaters

Complain to Citibank now.

It will start the clock ticking for a potential FOS complaint in eight weeks time. And then a big compensation payment if you lose buyers.

kayjay433

Complain about what and whats FOS?

PeacefulWaters

kayjay433 wrote: »

Complain about what

Their failure to clear the charge originally. Their failure to even identify the charge over the last few weeks.

and whats FOS?

Financial Ombudsmen Service.

kayjay433

My solicitor says this happens a lot with secure loans. They don't issue a document to say its been paid and then it rears its ugly head years later, as with my case as an outstanding charge against the mortgage. How it can be outstanding after 18 years, without me being repo'd, I do not know lol. Its just holding everything up as we just cant seem to get any reply from any correspondence we've sent.

Clive_Woody

kayjay433 wrote: »

My solicitor says this happens a lot with secure loans.

What, customers forgetting they had one?

I've never had one myself (that I recollect) but I would assume a fair bit of paperwork and legals are required to take one out. I would assume this would be quite memorable.

jonesMUFCforever

It is true that in many cases back in the day that secured loan charges were NOT automatically taken off repaid loans because if you wanted to borrow more funds in the future the charge was already on the property.