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Capstone/Ascenden

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  • Capstone/Ascenden

    Hi to all

    We took out a secured loan in December 2007 with Capstone Mortgages who are the UK arm of the disgraced Lehman Bros. We got into financial difficulties, i.e. my hours became less ( I was self-employed ). My wife had also lost her job. I wrote many letters to them offering a reduced monthly payment. They did'nt want to know. Basically, pay the full amount ( plus loads of added illegal sundries on top ) or face repossession. We did pay them but obviously not the amount they were after.
    By the way the property was in my wife's name not mine, nevertheless they wanted my signature on the loan agreement. I remember in court, that was the first thing the judge asked, and their solicitor (Glenisters who have now ceased trading as from January 2010 ) couldn't answer that.

    In March 2010 we had a buyer for the property. Had 2 suspended court orders after that even though they knew we had a buyer. Unfortunately, approximately 3 weeks before the contracts were signed they issued an eviction notice. It is only subsequently that I found out that I could have applied to the court for an N244 to halt proceedings.

    I have emailed Richard Dyson of the Financial Mail, our local MP as well as the FSA. Also have posted a CIB form.

    I would like to know why the FSA have fined Kensington, Swift plus others. I would also like to know what is the fine being used for ? Have the borrowers caught up in the clutches of these parriahs been recompensed ?

    Stephen
    Tags: None

  • #2
    Re: Capstone/Ascenden

    No! Basically that's your answer. I'm battling with Kensington, but what is interesting here is that they were only penalised for those who held their main mortgage with them. What about the thousands who had a second mortgage / secured loan with them who were charged exactly the same unfair penalties, but seemingly don't count. This is one I am fighting at the moment.

    Comment


    • #3
      Re: Capstone/Ascenden

      Originally posted by Caspar View Post
      No! Basically that's your answer. I'm battling with Kensington, but what is interesting here is that they were only penalised for those who held their main mortgage with them. What about the thousands who had a second mortgage / secured loan with them who were charged exactly the same unfair penalties, but seemingly don't count. This is one I am fighting at the moment.
      I believe shortly that the 1st and 2nd charge will be brought under the same jurisdication.

      Comment


      • #4
        Re: Capstone/Ascenden

        http://www.fsa.gov.uk/pages/Library/...2010/065.shtml

        http://www.dailymail.co.uk/money/art...on-Lehman.html

        http://www.mortgagestrategy.co.uk/di...023883.article
        Last edited by Angry Cat; 12th February 2011, 23:25:PM.

        Comment


        • #5
          Re: Capstone/Ascenden

          http://news.bbc.co.uk/1/hi/programme...ma/7034019.stm

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