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  • FIRST POST
    • vapcq55
    • By vapcq55 14th May 18, 10:28 AM
    • 4Posts
    • 0Thanks
    vapcq55
    Skye Loans-nervous about paying back
    • #1
    • 14th May 18, 10:28 AM
    Skye Loans-nervous about paying back 14th May 18 at 10:28 AM
    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
Page 1
    • stevenhp1987
    • By stevenhp1987 14th May 18, 10:47 AM
    • 811 Posts
    • 628 Thanks
    stevenhp1987
    • #2
    • 14th May 18, 10:47 AM
    • #2
    • 14th May 18, 10:47 AM
    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
    • By vapcq55 14th May 18, 11:27 AM
    • 4 Posts
    • 0 Thanks
    vapcq55
    • #3
    • 14th May 18, 11:27 AM
    • #3
    • 14th May 18, 11:27 AM
    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.
    • zx81
    • By zx81 14th May 18, 11:29 AM
    • 21,212 Posts
    • 22,896 Thanks
    zx81
    • #4
    • 14th May 18, 11:29 AM
    • #4
    • 14th May 18, 11:29 AM
    Write to them?

    https://beta.companieshouse.gov.uk/company/09345937
    • jimuckmac
    • By jimuckmac 11th Feb 19, 10:27 PM
    • 26 Posts
    • 2 Thanks
    jimuckmac
    • #5
    • 11th Feb 19, 10:27 PM
    • #5
    • 11th Feb 19, 10:27 PM
    Skye Loans Ltd do not have the legal authority to collect any payment from anybody, sounds like you have been defrauded.
    • jonesMUFCforever
    • By jonesMUFCforever 11th Feb 19, 10:33 PM
    • 25,653 Posts
    • 12,884 Thanks
    jonesMUFCforever
    • #6
    • 11th Feb 19, 10:33 PM
    • #6
    • 11th Feb 19, 10:33 PM
    Skye Loans Ltd do not have the legal authority to collect any payment from anybody, sounds like you have been defrauded.
    Originally posted by jimuckmac
    You certainly have a bee in your bonnet about them don't you?
    What goes around - comes around
    give lots and you will always receive lots
    • jonesMUFCforever
    • By jonesMUFCforever 11th Feb 19, 10:36 PM
    • 25,653 Posts
    • 12,884 Thanks
    jonesMUFCforever
    • #7
    • 11th Feb 19, 10:36 PM
    • #7
    • 11th Feb 19, 10:36 PM
    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
    Originally posted by vapcq55
    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.
    What goes around - comes around
    give lots and you will always receive lots
    • jonesMUFCforever
    • By jonesMUFCforever 11th Feb 19, 10:37 PM
    • 25,653 Posts
    • 12,884 Thanks
    jonesMUFCforever
    • #8
    • 11th Feb 19, 10:37 PM
    • #8
    • 11th Feb 19, 10:37 PM
    Just noticed this is an old post opened by someone who obviously has a grudge against Skye Loans LOL
    What goes around - comes around
    give lots and you will always receive lots
    • jimuckmac
    • By jimuckmac 17th Feb 19, 11:10 PM
    • 26 Posts
    • 2 Thanks
    jimuckmac
    • #9
    • 17th Feb 19, 11:10 PM
    • #9
    • 17th Feb 19, 11:10 PM
    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
    • By Bermonia 18th Feb 19, 1:32 AM
    • 507 Posts
    • 386 Thanks
    Bermonia
    Oh no, he’s back again!

    What happened... get bored off shouting at the pigeons?
    • John G Jones
    • By John G Jones 18th Feb 19, 7:16 AM
    • 531 Posts
    • 720 Thanks
    John G Jones
    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.
    Originally posted by jimuckmac
    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?
    • sourcrates
    • By sourcrates 18th Feb 19, 1:58 PM
    • 16,731 Posts
    • 15,800 Thanks
    sourcrates
    Skye loans appear to attract attention almost everywere, consumer action group, previous MSE threads, and also Legal beagles, they are a parent company, so are not FCA regulated, and by all accounts not a pleasent company to deal with.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".

    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    • jimuckmac
    • By jimuckmac 4th Mar 19, 10:00 PM
    • 26 Posts
    • 2 Thanks
    jimuckmac
    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?
    Originally posted by John G Jones
    My legal arguments are strong. My discharge from Skye Loans Ltd is fraudulent.
    • jonesMUFCforever
    • By jonesMUFCforever 4th Mar 19, 10:34 PM
    • 25,653 Posts
    • 12,884 Thanks
    jonesMUFCforever
    My legal arguments are strong. My discharge from Skye Loans Ltd is fraudulent.
    Originally posted by jimuckmac
    So you have paid them then?
    What goes around - comes around
    give lots and you will always receive lots
    • Clive Woody
    • By Clive Woody 5th Mar 19, 4:12 PM
    • 4,630 Posts
    • 5,243 Thanks
    Clive Woody
    So you have paid them then?
    Originally posted by jonesMUFCforever
    Sounds like it, but presumably feels he has mis-paid and would very much like a refund.
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
    • financegeek
    • By financegeek 5th Mar 19, 6:20 PM
    • 118 Posts
    • 153 Thanks
    financegeek
    My legal arguments are strong. My discharge from Skye Loans Ltd is fraudulent.
    Originally posted by jimuckmac
    So you've paid Skye and presumably the charge has been removed from your property, yet you're complaining they didn't have the authority to remove it?

    what do you want them to do? re secure their charge?!
    • jimuckmac
    • By jimuckmac 5th Mar 19, 10:15 PM
    • 26 Posts
    • 2 Thanks
    jimuckmac
    I have paid the redemption payment to Skye Loans Ltd but the charge has not been removed as its not legally compliant.

    It's not legally compliant because Skye Loans Ltd have discharged the property without the legal authority to do so.

    They are acting fraudulently.
    • jonesMUFCforever
    • By jonesMUFCforever 5th Mar 19, 11:33 PM
    • 25,653 Posts
    • 12,884 Thanks
    jonesMUFCforever
    I have paid the redemption payment to Skye Loans Ltd but the charge has not been removed as its not legally compliant.

    It's not legally compliant because Skye Loans Ltd have discharged the property without the legal authority to do so.

    They are acting fraudulently.
    Originally posted by jimuckmac
    Are you taking action against them?
    What do the Land Registry have to say about them?
    What goes around - comes around
    give lots and you will always receive lots
    • jimuckmac
    • By jimuckmac 6th Mar 19, 9:55 PM
    • 26 Posts
    • 2 Thanks
    jimuckmac
    Are you taking action against them?
    What do the Land Registry have to say about them?
    Originally posted by jonesMUFCforever
    I will be taking legal action against them once the complaint process with the FCA is complete.
    I will also be taking legal action against my solicitor for sanctioning payment to Skye Loans Ltd without him checking Skye's legal entitlement to payment and their legal authority to discharge my property.
    The situation at the moment is I've paid a redemption payment of £8,400.00 to Skye without a legal and binding discharge.
    • jimuckmac
    • By jimuckmac 6th Mar 19, 9:58 PM
    • 26 Posts
    • 2 Thanks
    jimuckmac
    I will be taking legal action against them once the complaint process with the FCA is complete.
    I will also be taking legal action against my solicitor for sanctioning payment to Skye Loans Ltd without him checking Skye's legal entitlement to payment and their legal authority to discharge my property.
    The situation at the moment is I've paid a redemption payment of £8,400.00 to Skye without a legal and binding discharge.
    Originally posted by jimuckmac
    Ps...the Register of Scotland said if I believe fraud has taken place then report the situation to Police Scotland, which I will do once my complaint to the FCA is complete.
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