Elderbridge - Urgent Help needed - Vulnerable person

[Deanloan72]

The SAR has arrived!!

Would appreciate everything if anyone has any additional advice.

I have had a look few some of the documents and as predicted Elderbridge do store a lot of documents and have great record keeping.

This is a second charge mortgage

I have had a look at the Legal Charge and the Financial Planner and the signatures are forged (They do not match my nans however it may match her late husband) The 'Witness' is also his best friend at the time. - My nan has no recollection of this. The notes on file are simply payment notes.

The broker valued my nans house at £85000 and £95000 in 2007, The value was about 35-45k so I am not sure where that number has got pulled from,

The breakdown of payments have also explained where the money went and it looks like it's to clear his debts with the 'big one' at £27000 to SPML.

The disbursement document is also not signed or verified by anyone.

The interest rate was 15.30% when this all began.

Is there any documents I should be looking for so I'm able to provide you with the details so you can advise accordingly?

Thank you!
Dean

[echat11]

pt2537 Can you please take a look and advise, many thanks.

[meellis]

SPML are probably another 2nd charge mortgage company (Lehmans I beleive) called southern pacific mortgage limited. They had a habit of defaulting pretty quickly especially around that time because of the crash. If they treated him like me then he probably felt there was no other option but to take out a bigger loan to get them off his back. I would imagine your Nan didn't know about that one either. It would probably be frightening to find out how many people ended with larger debts because of this scenario speaking as one of them.

[Deanloan72]

SPML are probably another 2nd charge mortgage company (Lehmans I beleive) called southern pacific mortgage limited. They had a habit of defaulting pretty quickly especially around that time because of the crash. If they treated him like me then he probably felt there was no other option but to take out a bigger loan to get them off his back. I would imagine your Nan didn't know about that one either. It would probably be frightening to find out how many people ended with larger debts because of this scenario speaking as one of them.

This is actually a great point of view and it may be the case,

What should I do or say do you think?

[echat11]

The following really stands out and needs to be dealt with -

'I have had a look at the Legal Charge and the Financial Planner and the signatures are forged (They do not match my nans however it may match her late husband) The 'Witness' is also his best friend at the time. - My nan has no recollection of this. The notes on file are simply payment notes.'

Post for information only -

https://www.landmarkchambers.co.uk/w...ments-2015.pdf

[meellis]

I'm probably a bit too jaded to offer advice due to the fact I am looking at losing my home next year because of the position these parasites have put me in. I am not with Elderbridge but I was with Southern Pacific and ended up paying them off with a bigger loan from another company similar to Elderbridge. First thing you will find is even though it is called a mortgage it isn't so you aren't protected by mortgage rules. You will then find that it is above the limit to be covered by consumer credit regulations. When you look into how the products were arranged and the signature issue you will be told that it is an issue with the broker not the loan company, but interest issues and charges are the loan company not the broker. If you get too court you will be told that somebody had the benefit of the loan and is now trying to get out of it. You will find reasons why it broke regulations in place at the time but then find out that some silver tongued barrister has persuaded a judge that those regulations mean something completely different than how everybody interprets them and because he wins the case his interpretation becomes correct. All of these companies work around similar frameworks because they know that
1. Any regulatory body haven't got the power, interest or resources to challenge them because they have to ultimately take them through the court system to get a real result so they will make a deal between themselves to give the appearance of justice.
2. The victims themselves can't take them on too easy because ultimately they have even less resources to fund a campaign than the regulatory bodies, try facing a £600 an hour barrister in court as a litigant in person.
That said though people with great patience and strength and tenacity have been making in roads so we can all live in hope. Make a list of all the issues you have and then try and list them on who might have to be held to account ie Broker or loan company and then who might be able to help with each issue.

[Peter67]

Very odd, payments due column is empty.

is it worth going through FOS (free service) or private law firm. does anyone know except the over paid interest and any other claims we can put against FirstPlus?

[echat11]

is it worth going through FOS (free service) or private law firm. does anyone know except the over paid interest and any other claims we can put against FirstPlus?

The FOS are 'snowed under', but it's a free service. What you need to do is build your case, best way of doing that is research on the internet (Google), see what other failures other customers have come across, ask yourself, does that apply to my case. Gather as much evidence as possible.