Mortgage obtained under duress

[akania]

Re: Mortgage obtained under duress

Hi There

I have gone as far as i can with Skiptons and thier attitude is 'well she signed for the mortgage and took advice from a solicitor so tough' basically.

I am going to start off a complaint today with the FSO regarding undue influence. I realise now this mortgage may have been missold but this is more about the undue influence, or duress my mother was under.

Do you think i should also seek some advice from a solicitor on this, and if so what kind of solicitor do i need?
Also if cases are won against finance compaines such as the Cherrytree finance company does that set precedence for other cases to be won ?
Thanks

[teaboy2]

Re: Mortgage obtained under duress

Hi There

I have gone as far as i can with Skiptons and thier attitude is 'well she signed for the mortgage and took advice from a solicitor so tough' basically.

I am going to start off a complaint today with the FSO regarding undue influence. I realise now this mortgage may have been missold but this is more about the undue influence, or duress my mother was under.

Do you think i should also seek some advice from a solicitor on this, and if so what kind of solicitor do i need?
Also if cases are won against finance compaines such as the Cherrytree finance company does that set precedence for other cases to be won ?
Thanks

Hi Akania

Am sorry to hear about how much your mother has been through, but a word of caution - DO NOT underesitmate the power a claim for missold mortgage has, it would be a very powerful tool to use along with the undue influance claim. So make a claim based on both undue influance and the mortgage being missold as it will help your claim greatly.

Previous cases heard at the high court or above (including court of appeal) set a precedence as they become known as case law.

[akania]

Re: Mortgage obtained under duress

OK will do. We are calling the FSO in the morning as i need mum here to give them authority to speak with me. I have to tell you though im a little scared of the mortgage company as they can be quite aggressive but i will plough on.

[akania]

Re: Mortgage obtained under duress

Afternoon

Ok so I have spoken to the FSO who sounded quite positive about the complaint but i realise there are laws and proceedures to adhear to so I am keeping an open mind.

i am in the middle of putting all paperwork together. This includes, all mortgage and broker documentation, letters from creditiors writing off their debts, letters from my local MP who was heavily involved in helpuing writing the debts off. leters from her doctor, and medical dischage relating to her suicide attempt. Letters from the police and criminal justice sytems which stat the crimes and sentances passed on her then partner and payslips proving what she earnt at the time. I am also writing out a detailed explaination of the cirumstances that have lead up to this point and I am going to point out the http://lexisweb.co.uk/cases/2001/mar...ltd-and-others case which have considerable similarites.

Does all of the above sound ok and is there anything that you may feel i have missed out?

Thankyou all

[SpringerSpaniel]

Re: Mortgage obtained under duress

There is a series of caselaw related to Undue Influence, the first important case is Barclays Bank v O'Brien.

It has to be demonstrated that your mother had received independent legal advice before the mortgage was taken out if the advice was not adequate to her situation, she may be able to make a complaint about the solicitor involved or bring a claim for negligent professional advice. This is another avenue which may be relevant to explore.

[akania]

Re: Mortgage obtained under duress

Brillant , thankyou. Im trying to get as much case law together as I can as being an utter pessimist i am expecting that the FSO say tough.

I am just about to photocopy everything 140 pages of it and send it recorded delivery. The FSO said it will take about 6 months to investigate. I think someone mentioned to send it also to the FSA? Shall I do that as well? And what part does the FSA play in a case like this?

[akania]

Re: Mortgage obtained under duress

Also i just wonered about something else regarding myself. I actually lost my home through bankruptcy 3.5 years ago. The circumstances were dire and not something that i want to go into just yet but regarding the financial state i was in, i had many loans, credit cards and a huge secured loan from First plus which finally pushed me over the edge into bankruptcy. I was lent i think 110% of my properties value and it was obviouslt a sub prime mortgage.

Im sure that I read something somewhere re sub prime mortgages and council flats that had been discounted. I just wondered if someone could point me in the right direction or even hopefully knows what im on about lol, theni will start a new thread on it.

[SpringerSpaniel]

Re: Mortgage obtained under duress

It sounds as if your claim might be for misselling of the mortgage. You may want to argue that an ex-council property did not represent adequate security for lending and so the mortgage was missold on that basis as well as any other that applies.

[akania]

Re: Mortgage obtained under duress

Thanks for that

Who do i start that complaint off with? would it be the bank and first plus, the back was the first mortgage and then first plus the second. Do i write to thoes guys or the FSO. Plus as it was 3.5 years ago is it not too late now?

[SpringerSpaniel]

Re: Mortgage obtained under duress

You have 6 years, you should start with the lenders then if you do not get a satisfactory response, or no repsonse within 8 weeks, you can go the FOS