Skye Loans-nervous about paying back

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vapcq55
vapcq55 Posts: 4 Newbie
in Loans
Morning All - I have a 2nd charge mortgage loan which was taken over by Skye a couple of years ago. All has gone well and now I want to pay it back.
they've sent me a redemption sum, did a money laundering check and sent me their bank details BUT...I'm scared about transferring nearly £20k to them in case a) the letter is a scam and b) if they took over my loan if I pay them does that mean it is really paid off?


I'd welcome your thoughts/advice!


Thanks
«13

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  • stevenhp1987
    stevenhp1987 Posts: 907 Forumite
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    If you're afraid that the letter has been intercepted and therefore contains incorrect data, you could ring the company up and check? They should be able to give you the correct bank details over the phone...
  • vapcq55
    vapcq55 Posts: 4 Newbie
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    Hi - I would but then the number on the letter could be false - and - the company doesn't seem to have a website. At least I've not found it online yet.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Write to them?

    https://beta.companieshouse.gov.uk/company/09345937
  • jimuckmac
    jimuckmac Posts: 41 Forumite
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    Skye Loans Ltd do not have the legal authority to collect any payment from anybody, sounds like you have been defrauded.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    jimuckmac wrote: »
    Skye Loans Ltd do not have the legal authority to collect any payment from anybody, sounds like you have been defrauded.

    You certainly have a bee in your bonnet about them don't you?
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    vapcq55 wrote: »
    Morning All - I have a 2nd charge mortgage loan which was taken over by Skye a couple of years ago. All has gone well and now I want to pay it back.
    they've sent me a redemption sum, did a money laundering check and sent me their bank details BUT...I'm scared about transferring nearly £20k to them in case a) the letter is a scam and b) if they took over my loan if I pay them does that mean it is really paid off?


    I'd welcome your thoughts/advice!


    Thanks

    You got a redemption figure -- how and where from?
    If someone was trying to defraud you they would contact you- not the other way round.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    Just noticed this is an old post opened by someone who obviously has a grudge against Skye Loans LOL
  • jimuckmac
    jimuckmac Posts: 41 Forumite
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    Skye Loans Ltd are not registered with the FCA which means, legally they are not permitted to administer or collect on their 2nd Charge mortgage portfolio, they must employ a regulated company to do this work for them....I think they call this 'servicing' the debt

    The company they employed to 'service' their debt are called Link Mortgage Services.
    We have made a request to this company to provide us with a copy off their 'Service Agreement with Skye Loans Ltd, and also a copy of their 'Power of Attorney' to act legally on Skye Loans behalf. Link Mortgage Services have refused both requests, which leads me to believe, Link Mortgage Services may also be acting illegally.

    We too paid Skye Loans Ltd a redemption payment to release the charge on our property.

    We believe our 'Charge Document' is not legally compliant as it has not been signed off by legal authority, It has not been signed of by an 'Attorney.... it has not been signed of by an 'Authorised Signatory'....but has been signed off by a 'Signatory'.... which means it could have been signed of by any man,woman on the street or by you and I.

    All documentation is now with the FCA.
  • Bermonia
    Bermonia Posts: 977 Forumite
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    Oh no, he’s back again!

    What happened... get bored off shouting at the pigeons?
  • John_G_Jones
    John_G_Jones Posts: 542 Forumite
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    jimuckmac wrote: »
    Skye Loans Ltd are not registered with the FCA which means, legally they are not permitted to administer or collect on their 2nd Charge mortgage portfolio, they must employ a regulated company to do this work for them....I think they call this 'servicing' the debt

    The company they employed to 'service' their debt are called Link Mortgage Services.
    We have made a request to this company to provide us with a copy off their 'Service Agreement with Skye Loans Ltd, and also a copy of their 'Power of Attorney' to act legally on Skye Loans behalf. Link Mortgage Services have refused both requests, which leads me to believe, Link Mortgage Services may also be acting illegally.

    We too paid Skye Loans Ltd a redemption payment to release the charge on our property.
    Ah, the source of the bee becomes clear.

    Let me ask you, if you don’t believe it was Skye who you should have paid then who do you believe that you owe the money to now?

    Leave aside your silly legal understanding, who do you think you owe money to if not Skye, and have you paid them back?
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