Mortgage Trust (Paragon) and their appointed receiver Redbrick

ABDULA

Back in 2006, bought 4 Properties and the lender is Mortgage Trust
The First 2 Properties was in my wife name. One of the property was sold at a short fall and the lender seek possession of the other property and at the same time put a charge on my main resident due to the short fall.
The lender then appoints a receiver of rent to manager the property that they were giving possession by the court.
The other 2 properties in my name feel into arrears back in 2009 and this time the lender act based on their terms of mortgaged to appoint a receiver without going to court.
The receiver first receiver was not doing his duties well and his contract was terminated by the lender. The lender then appoints another receiver inhouse call redbrick.
To date the receiver has been in place over 9 years
The receiver has been collecting rent and I also have been paying additional payment to the lender every month without fail
Two months ago, I then had a letter from the hand back team that they want to hand the properties over to me and that they will need my personal financial position.
I gave them all the details they need but then they came back that they cannot give me back the properties due to my financial position.
And they also said if I can pay extra £800 on top of the full rent I will be paying over to them and that I will have to secure against my main resident the other 2 properties. It those not say in the terms and condition of my mortgage that this thing must be meet.
I call Financial Ombudsman and Financial Conduct Authority about the issue I am having with Mortgage Trust now re branded Paragon and I was told is not within their remit to investigate.
And the only way I was told is to go and seek legal advice.
I point to FCA that in all the booklet from Mortgage Trust it says they are authorised and regulated by the Financial Standard Authority at the time I took out the Mortgage. If now when I call both bodies I was told that Mortgage Trust is not within their remit. Then the question then is, is Mortgage Trust misled the public?
Both 3 properties are with the receiver of Rent for the past 9 Years
When I call the lender, I was told there is no more arrears on the properties.

I need help.

kingstreet

Your issue is with the lender.

You are expected to make a complaint to the lender, allow the lender to investigate and issue a final outcome letter and if you are not happy with that to escalate the matter to FOS within six months. That applies only to residential mortgages

The Financial Conduct Authority (previously the Financial Services Authority) regulates lenders but this is high-level stuff, not for individual consumer complaints.

As these are probably Buy To Let transactions, regulation didn't apply, so you didn't have the same protection as you would for a residential mortgage. You need to take legal action once you have exhausted the lender's complaints process if you are unhappy with the outcome.