Lancashire Mortgage Corp Blemain LMC Moser monarch recoveries CON ARTISTS

[vicky160985]

Hi all,

Hope somebody can help me.

My father was introduced to Heywood finance in 2007. Heywood finance introduced my dad to Lancashire.

Prior to this my dad had a portfolio of properties , his home which did have a mortgage , a thriving business and was stressed yes but still happy. The loan still owing on the properties was with Natwest but money troubles over the yr meant adverse credit score!

Consequently, on his largest purchase he was eager to do business with this Lancashire as he didn't think he could raise the money at all.

That was 2008.
The total borrowed was 600k
The total value of all though was 1.3mil so a fair bit of equity.

They wanted to secure the loan on all the properties inc the family home by way of a second charge.

By 2014 my father had lost every property , lost his business, his car even!!! And after building something from nothing , aged 56 he wound up living alone in sheltered accommodation with no car, no money and little in the fridge!

How has this been allowed to happen?

As an example I did quick calculations at the start and I will never forget the initial shock! Over one year , with no defaulting he relayed a grand total of 86k to Lancashire. This large sum reduced the overall debt by.......

£5'000
YES! Five thousand pounds! Meaning 81thousand was interest alone!

I have sent the SAR, received the huge folder now and have spent a month going through it in disbelief.

There is not one completed income and expenditure app form in with the paperwork! There are a few completely blank ones.

There is telephone charges of 35.00 everywhere, despite notes which read, SMS sent etc etc so not a telephone call at all.

Worse still is these charges are titled as monarch recoveries who I believe are an in-house company and where brought up in the FSA 's findings when investigating Cheshire mortgage corp (sister company)

The contract states its made under CCA law and English law.

I know I will need a professional with this but I'm just trying to understand it a bit better first. , as to what direction is best from here.
I can't afford huge solicitor costs so I need to do what I can myself.


Any ideas on a plan of action would be very much appreciated x x

[nemesis45]

Re: Lancashire Mortgage Corp Blemain LMC Moser monarch recoveries CON ARTISTS

Good evening welcome to LB,

So many similar stories over the years with Lancashire, and Cheshire Mortgage Corporation.

What exactly are your aims, recovery of charges, the argument that these loans were unregulated?
nem

[vicky160985]

Re: Lancashire Mortgage Corp Blemain LMC Moser monarch recoveries CON ARTISTS

Hi thanks for your reply.

To be honest I don't know what way to go with it all. There's that much I don't understand.
However, so far what I have learnt as I've been looking into this is that within the SAR lot I have no applications , no income and expenditure forms, hardly anything has a date! There are so so many charges added for telephone calls made, only many are listed on the statement of account activity as being made from monarch recoveries, others detail in the notes about how an SMS was sent which is hardly a conversation and definitely does not justify a cost of £35 for a 12p text message!

Only one of the properties has any kind of court papers relating to it yet they've sold the others with no such activity which I imagine is wrong.

The price they sold the properties for was drastically below valuations. For example, the sold two for £48'000. Valuations were one at £70'000 the other at £80'000 meaning for a quick sale they've lost £100'000 right there.

There's nothing in the way of paperwork saying they'd requested to the courts for permission to sell these! Plus both had tenants and Lancashire had intervened in receiving the rents for years. The rents came off the balance yes but for each property managed by the firm they'd instructed (sterling properties) the management fees were cancelling out the rents received . add their insurance cover and the rents coming in don't meet the costs charged on top.

The monthly interest was roughly £5600
The monthly payment was roughly £6000 . I will upload a statement in a moment with the exact figures on.

At no point, even when struggling did Lancashire offer help. Interest was never reduced for a short period of time meaning no matter what there was absolutely no possible way to get back on top of things. Reducing payments was pointless because of this ongoing interest rate always keeping the account in the red.

What's worse still is prior to the Lancashire loan , smaller loans had been taken out through Heywood finance, spot credit finance, etc but so far into each one it appears as though they switch the loan to another company of theirs making it seem as though they were consolidating things when really they were making thousands and thousands on new lenders fee, early redemption fees etc.

The balance owed to date is close on 700'000 despite having sold off every property my dad had! When he took out the loan of £500'000 his properties valued in at 1.3mil.
Over just the first year he repaid 86'000! £81'000 of that was taken for interest reducing the overall loan by £5000.

I honestly don't know which way to go from here so any advice , any at all would be appreciated.

Its just so unfair and more than anything else I want to give my dad his pride back. Allow him to see that he didn't loose everything himself, he was stitched up by crooks! Its something which i know is priceless but to him its really not. Its heart breaking.

Vicky x x x x

[vicky160985]

Re: Lancashire Mortgage Corp Blemain LMC Moser monarch recoveries CON ARTISTS

[QUOTE=nemesis45;568481]Good evening welcome to LB,

I wasn't sure where to reply sorry haha. So I just clicked add to thread x

[nemesis45]

Re: Lancashire Mortgage Corp Blemain LMC Moser monarch recoveries CON ARTISTS

Hell Vicky,

There is such a tangled web of accounting which I confess is as confusing to me as it seems to be for you.
One suspects the properties sold cheaply were not advertised " generally" and possibly sold to insiders.
Were all the subsidiary loans applied for normally or were they recommended/ suggested by others as
being essential?
nem

[nemesis45]

Re: Lancashire Mortgage Corp Blemain LMC Moser monarch recoveries CON ARTISTS

You are on track!!

nem

[MissFM]

Re: Lancashire Mortgage Corp Blemain LMC Moser monarch recoveries CON ARTISTS

Hi Vicky ,

I'm so sorry - your poor Dad . Let's hope they've slipped up somewhere.

I think you're going about this in exactly the right way and need to get everything recorded and charted on a timeline so that a forensic accountant can work out exactly what they've done and how they've done it. You will then perhaps be able to see (& demonstrate) what was within the law & what wasn't.:spy:

I would imagine there will be some fiendishly difficult mathematics involved - & it so happens that both @Turboman & @Kafka are extraordinarily talented in that field so will try to attract their attention :attention:in the hope they can help with your calculations and where and how to look.

Am very much hoping you will be able to bring these dreadful people to book and get some justice for your Dad xxx

[Kafka]

Re: Lancashire Mortgage Corp Blemain LMC Moser monarch recoveries CON ARTISTS

This is an unusual case, for its complexity and its scale.

The first thing I would suggest is that you send a Subject Access Request to the original lender to obtain all the personal data they hold. That should give you a lot more detail and will itemise all of the charges added on, which probably run into many thousands.

Can you get this off fast so we can see fuller details?

[vicky160985]

Re: Lancashire Mortgage Corp Blemain LMC Moser monarch recoveries CON ARTISTS

Hi all,

Firstly thank you each and everyone of you for your message!! I'm so grateful!

Kafka, I have sent the SAR, and have have the paperwork back from that :-) I sent one SAR with one payment of £10.00 and asked that they send me everything from all accounts within the blemain group. I have back papers from blemain, Lancashire, heywood and spot finance.
I was waiting for a reply to say ud have to request a SAR from each individual company to be honest! Thankfully that wasn't the case.

However, I do believe that the likes of monarch recoveries, cantor law etc are also apart of the Blemain group. However they have failed to include any paperwork from these. Very odd. They trade from the same premises. I was very precise on what I wanted to ensure this very thing didn't happen by mistake.

One question I do have if anyone knows anything about is how their paperwork is dreadful. For example.... On one account, an account with Lancashire , well the application is headed blemain, not Lancashire? Oh yes the application is also completely blank. They must have just popped one in hoping I wouldn't notice!

On another account , one were the agreement is with Heywood, well the statement they've sent along with that accounts activity is in on Lancashire headed paper!???? Confused!!!??!!

Also, is it normal for them to blank out names here and there? Such as at the end of their letters, where they've signed on agreements etc. Its as though they don't want to reveal who was responsible for signing the agreement. It seems so add. Why would they feel the need to do this? They've actually covered such areas with paper I assume and then photocopied it.????? Is it normal? If I went there requesting to see the original would they put their hand over the signature to prevent me from seeing it???

Thanks again everyone. X x

- - - Updated - - -

Also how do I go about uploading copy's of the contract? I'm a pain I know!! I'm sorry x x x

[FlamingParrot]

Re: Lancashire Mortgage Corp Blemain LMC Moser monarch recoveries CON ARTISTS

One question I do have if anyone knows anything about is how their paperwork is dreadful. For example.... On one account, an account with Lancashire , well the application is headed blemain, not Lancashire? Oh yes the application is also completely blank. They must have just popped one in hoping I wouldn't notice!

On another account , one were the agreement is with Heywood, well the statement they've sent along with that accounts activity is in on Lancashire headed paper!???? Confused!!!??!!

Also, is it normal for them to blank out names here and there? Such as at the end of their letters, where they've signed on agreements etc. Its as though they don't want to reveal who was responsible for signing the agreement. It seems so add. Why would they feel the need to do this? They've actually covered such areas with paper I assume and then photocopied it.????? Is it normal? If I went there requesting to see the original would they put their hand over the signature to prevent me from seeing it???

A SAR is a request for all data held about you, so they may want to cover up stuff that refers to other people. I once sent a couple of SARs (to an ex-employer and the outsourcing outfit that took over from them) and they just went over certain things with a black marker pen, covering up a lot of names, including some that were rather obvious to me who they referred to. Some pages had just one line of text visible, the rest was all blacked out. I'd say in that context, names were a little more relevant, for the purpose of financial documents, the identity of the individual who signed them shouldn't make much difference.

Also how do I go about uploading copy's of the contract? I'm a pain I know!! I'm sorry x x x

No worries. This thread should be of help: http://www.legalbeagles.info/forums/...r-details-safe!) :nerd:

[vicky160985]

Re: Lancashire Mortgage Corp Blemain LMC Moser monarch recoveries CON ARTISTS

Thanks ive read that so I'll get things posted up on here today.

I was thinking, as there are about 7 separate agreements over the period of time from Heywood through to LMC , each of the earlier ones being paid with the following if you will. Well would I be better to address each individually or as a whole?

I read through the entire report from Cheshire mortgages fine that time and within the woman investigating it points out on numerous occasions how Cheshire is only 10% of the overall group. The one regulated. Yes she describes Moser's misconduct threw out. I realise these other agreements are not regulated but there are so many points in her investigation which I'm sure would be appropriate here too.

[veryannoyed]

Re: Lancashire Mortgage Corp Blemain LMC Moser monarch recoveries CON ARTISTS

Are the signatures blanked out or have they not actually been signed by Lancashire Mortgage. On my agreement Lancashire Mortgage have failed to find a copy signed by the lender which hopefully will have dire consequences for them.

[vicky160985]

Re: Lancashire Mortgage Corp Blemain LMC Moser monarch recoveries CON ARTISTS

Sorry! I've only just spotted this comment.

They have blanked out names and signatures yes. I see no genuine reason for this!

You will be interested to know that I do have a fair bit of original paperwork prior to my SAR. Certain copies sent by them within the SAR did not look right. Different handwriting is obvious. Somebody else has clearly added detail later on. Such as repayment term and % etc.
I was delighted when i found the original amongst my own paperwork. Meaning id been given the agreement, left and only later when i was not present did they fill in the blanks.
Personally i think its been done for the SAR. To try and make it look as though they do do things by the book.

Ive not raised this with them yet. Ive simply mentioned how i have come accross paperwork which disturbingly does not match my own despite such paperwork being signed by myself. I signed for what was already there. They could add whatever they wanted to afterwards if thats how they do things.

Nothing shocks me with them anymore to be honest. I have so much to show they are not an honest bunch. Only a fool would fail to see this.

- - - Updated - - -

Might I draw ppls attention to this I have just signed.
Its very interesting. It shows how these unregulated unlawful funhouses are impacting both sides of the fence.
From a regulated companies perspective you can see that the problem is bigger still.

https://www.change.org/p/tracey-mcde...edium=copylink

[vicky160985]

Re: Lancashire Mortgage Corp Blemain LMC Moser monarch recoveries CON ARTISTS

I thought I'd update my original post here as things are starting to make more sense to me now.

So far what I know is that lancashire mortgage corp are simply an appointed representative introducer for Cheshire mortgage corporation.

Cheshire being the principle. So the parent of lancashire if you will. Responsible for all that lancashire does or does not do.
The FCA registra lists cheshire as being regulated but when you look right into that one link you uncover so much more. Inc lancashires role as a broker.

After writing to lancashire I received a reply admitting to just on 15k in charges added incorrectly.

They claim the others to be time barred.
They've admitted they can't find one contract
But they've failed to include details of another 3 contracts which are the very ones they tied together when moving the loan from regulated Heywood finance to unregulated lancashire.

As cheshire is the principle respobsible I intend to compile the rest and out my complaint / concerns to CMC cheshire as the parent .

Needless to say the fact that cheshire have already been under investigation and fined etc can only help my argument.

Sad part is I only learnt about the role of an appointed rep introducer after questioning the FCA and what good they really were! Their reply explained it all. I assume in a bid to take the heat off themselves.

Any advice always welcomed thank you.

[charitynjw]

Re: Lancashire Mortgage Corp Blemain LMC Moser monarch recoveries CON ARTISTS

I thought I'd update my original post here as things are starting to make more sense to me now.

So far what I know is that lancashire mortgage corp are simply an appointed representative introducer for Cheshire mortgage corporation.

Cheshire being the principle. So the parent of lancashire if you will. Responsible for all that lancashire does or does not do.
The FCA registra lists cheshire as being regulated but when you look right into that one link you uncover so much more. Inc lancashires role as a broker.

After writing to lancashire I received a reply admitting to just on 15k in charges added incorrectly.

They claim the others to be time barred.
They've admitted they can't find one contract
But they've failed to include details of another 3 contracts which are the very ones they tied together when moving the loan from regulated Heywood finance to unregulated lancashire.

As cheshire is the principle respobsible I intend to compile the rest and out my complaint / concerns to CMC cheshire as the parent .

Needless to say the fact that cheshire have already been under investigation and fined etc can only help my argument.

Sad part is I only learnt about the role of an appointed rep introducer after questioning the FCA and what good they really were! Their reply explained it all. I assume in a bid to take the heat off themselves.

Any advice always welcomed thank you.

Hi vicky

Are those charges (in red above) clearly obvious in the contract/agreement or did you find them as a result of questioning the lender? (ie were the charges 'hidden'?)