Mortgage Contract 'Void' loophole???

ACG

Next one will be a CMC offering to take this CMC to court for ruining their life maybe?...for an upfront fee of course.

dunstonh

LHZ, please let us know what your friend says about this.

Also, do you know if he paid any up front amount to the claims company? Perhaps could you name the claims company as I am sure they have breached a number of rules by encouraging your friend to stop the mortgage payments.

LHZ

I'm seeing him soon. I will ask if he has paid anything up front to the claims co. I will also try to get a clearer understanding of exactly what the claim is (I'm pretty sure it's as I said ie to do with the 'no signature' loophole) plus I will ask who the claim co is and if they actually advised him to stop paying the mortgage (I'm not 100% about this so will clarify).

robatwork

Go directly to court.
Do not pass Go.
Do not collect £200,000.

Do let us know how his day in the sun goes. My prediction - will never get his day in court, solicitor disappears in a puff of green smoke.

LHZ

Quick update. I spoke to my friend and he confirmed that:
-The claims company told him to stop making mortgage payments
-He has paid an up front fee to the claims company
-The claims company's claim is based around "mis selling of mortgages around the 2008 financial crash where contracts were not signed by by both parties and are thus void".

Not looking good is it :-(

ACG

There are very few lenders who force the customer to sign the Mortgage offer - even now. If it was that big of an issue, lenders would be enforcing it now.

getmore4less

LHZ wrote: »

Quick update. I spoke to my friend and he confirmed that:
-The claims company told him to stop making mortgage payments
-He has paid an up front fee to the claims company
-The claims company's claim is based around "mis selling of mortgages around the 2008 financial crash where contracts were not signed by by both parties and are thus void".

Not looking good is it :-(

Any sensible person would be putting that mortgage money to one side just in case.

worst case if they have and can get back upto date is a very annoyed lender a bit of accrued interest and a few marks on the credit files.

TrickyDicky101

getmore4less wrote: »

Any sensible person would be putting that mortgage money to one side just in case.

worst case if they have and can get back upto date is a very annoyed lender a bit of accrued interest and a few marks on the credit files.

...and a lost 'fee' to the dodgy claims company.

LHZ

The good news is he has put aside money for the mortgage payments but there's no evidence that he is going to drop the claim company proceedings.

dunstonh

LHZ wrote: »

The good news is he has put aside money for the mortgage payments but there's no evidence that he is going to drop the claim company proceedings.

Doesnt matter if he has put the money aside. He will have mortgage arrears showing on his credit report for at least 6 years (6 years from when he repays them).

A fool and his money are easily parted.