Re-mortgage application forms query?

[di30]

Back in 2007 we -remortgaged via Chelt & Glos, and it was directly arranged in Lloyds TSB Branch.

The application was made in May 2007, but we did not end up going for that actual one because of the affordability, but we did go for another on another rate and amount a few months on Aug/Sept 2007, obviously for a lower lending amount etc.

Now, because of this, is there supposed to be 2 separate mortgage applications made?

I asked for the copy some time ago, also within a SAR and they sent the one made from May 2007, and do not have an application for the one that we did actually take out.

I am curious about this, cheers.

[di30]

Re: Re-mortgage application forms query?

They have a pre-printed double our income on the one they sent!

[labman]

Re: Re-mortgage application forms query?

It would presumably have a separate interest rate, different monthly repayments, possibly a different number of repayments. To me that would suggest it would need an application in its own right. Did you complete one?

[di30]

Re: Re-mortgage application forms query?

It would presumably have a separate interest rate, different monthly repayments, possibly a different number of repayments. To me that would suggest it would need an application in its own right. Did you complete one?

Hiya and thank you.

We can recall on the earlier application completion in May 2007, but we do not think another was completed, because we could not afford to take out that one of that amount, another one had to be prepared in its place, it was later on but not until 3/4 months on.
The monthly repayments different as well, because we were going to include the hefty bank overdraft within the first application but it could not be done, so we still had that ongoing too.

I am going through the SAR again to see if there is anything else.
We do have details to explain that the earlier remortgage was not taken on because of unaffordability and another due to be set up in place, but there is no other application form.

Twice now they have sent us the same one on the earlier application, I have since wrote to both the bank and C&G again.

[labman]

Re: Re-mortgage application forms query?

I don't see how they can enforce an agreement that does not exist. You did not take out the original. I assume there is no modifying agreement or rescheduling in the SAR. If that is the case, it's hard to see how they can enforce.

[di30]

Re: Re-mortgage application forms query?

I don't see how they can enforce an agreement that does not exist. You did not take out the original. I assume there is no modifying agreement or rescheduling in the SAR. If that is the case, it's hard to see how they can enforce.

Yes that was I was thinking.

I have been looking through all paperwork I was provided with via SAR, also because of a critical life cover that was debited in regards of that earlier application that they also sold in relation of the earlier application, and we are on to this now, with that much other stuff going on since the remortgage was taken out, it's only recently I have been dealing with these matters.

Wish I got round to this sooner though, but still within the time limits I believe.

I have today posted a letter to ask "again" for the details of the mortgage taken out, and to provide by 14 days, as this was not enclosed within the SAR.

Seems strange that both myself and hubby have done separate SAR's and only the earlier application was enclosed.

[di30]

Re: Re-mortgage application forms query?

The earlier application was signed by ourselves and dated for May 2007, but as it never went ahead, then surely this is not the application copy they should have sent us on request.

If they did use the earlier application, they had the income so wrong and it was already pre-completed (ink) where the adviser completed just the missing bits, valuation and work places etc. The income was over double to what it was, we worked it out for 2006-2007 on bank statements, because they did not want us to provide proof because they said as bank customers they know automatically.

But this is something we did not even see, or given to read through in the bank, as he was asking the questions, he then just passed the consent details for us to sign.

Totally baffled :tinysmile_hmm_t2:

[labman]

Re: Re-mortgage application forms query?

I honestly can't see any way they could not have to produce a new agreement. The earlier one is irrelevant, it did not happen and all the figures are incorrect. They cannot rely on that as a legitimate loan agreement, it was for a totally different loan which never happened.

Start sharpening your teeth - I've heard the reputations of dragons from South Wales!

[Guest]

Re: Re-mortgage application forms query?

HI Di

Sorry if you have already said but was this a second charge? Over or under 25K

You say you have the application form for the earlier inquiery do you have the agreement?or are they one of the same.

Peter

[di30]

Re: Re-mortgage application forms query?

HI Di

Sorry if you have already said but was this a second charge? Over or under 25K

You say you have the application form for the earlier inquiery do you have the agreement?or are they one of the same.

Peter

Hi Peter

Thank you.

Yes it was also to pay off a second charge secured debt of well over £25K.

I have not yet located any agreements.
Just the one application form, quoted for May 2007, we taken another deal out with thembecause the May application was not affordable, but it was not until end Aug 2007 it was officially signed for under different terms.

[Guest]

Re: Re-mortgage application forms query?

Hi Peter

Thank you.

Yes it was also to pay off a second charge secured debt of well over £25K.

I have not yet located any agreements.
Just the one application form, quoted for May 2007, we taken another deal out with them but not until end Aug 2007 it was officially signed for.

Hmm unregulated

Was there a unrestricted element to the loan under 25K.
Peter

[di30]

Re: Re-mortgage application forms query?

I am really not sure Peter to be honest, but yes it's unregulated as we included previous secured debt and of course the amount on the previous mortgage with the other lender, so naive at the time unfortunately:tinysmile_hmm_t2: The secured loan was higher than that of the balance of the previous mortgage.

[Guest]

Re: Re-mortgage application forms query?

I am really not sure Peter to be honest, but yes it's unregulated as we included previous secured debt and of course the amount on the previous mortgage with the other lender, so naive at the time unfortunately:tinysmile_hmm_t2: The secured loan was higher than that of the balance of the previous mortgage.

Yes the reason i ask is because there is a school of thought that says if part of the loan was money not earmarked for repaying the previous second charge then that eliment of the loan should be regulated.(section18 CCA)

I must say that this has been tried in court and failed misserably, but it very much depends on the individual circumstances of the agreement. It may be that them not coming up with any agreement at all may strengthen this contention?

And there is always section 140 it is hardley fair that you were not contracturally aware of the terms.

Just a thought

Peter

[di30]

Re: Re-mortgage application forms query?

Yes the reason i ask is because there is a school of thought that says if part of the loan was money not earmarked for repaying the previous second charge then that eliment of the loan should be regulated.(section18 CCA)

I must say that this has been tried in court and failed misserably, but it very much depends on the individual circumstances of the agreement. It may be that them not coming up with any agreement at all may strengthen this contention?

And there is always section 140 it is hardley fair that you were not contracturally aware of the terms.

Just a thought

Peter

That is interesting Peter, cheers.

I am ok with PPI stuff but mortgage issues not lol.

I will be having another rummage through paperwork later and over the weekend incase I missed anything, but I do know for sure there is no other application on the actual mortage that was taken out.

[di30]

Re: Re-mortgage application forms query?

Welcome to the mortgage letter 2007, could not find a separate application of this one, so they must have used the application done in May 2007 for this one taken out.