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Receiver Comes To My Property With No Warning:need Advice
Hello all, i would just like to say a warm thank you for everyone on this forum...I have been reading peoples comments on certain scenarios with banks and im grateful for everyones participation to responses on certain questions. So thank you for paying attention to any posts that are added on this site daily......
PLEASE READ MY STORY, WHAT CAN THE BANKING CONDUCT OF BUSINESS REALLY DO?
I am experiencing probably one of the most challenging circumstances in my life. I am being taken in to receivership by my bank. The Bank being the "bank of Cyprus uk" i Live in england.
I have a mortgage with this bank. During the recession, i was experiencing great difficulty keeping to contractual payments. i contacted my bank daily, with letters, phone calls and gave them proposals on my ways of trying to generate more of an income to keep to the payments. However, with disregard, i was told by the bank that i signed to make contractual payments and i was obliged to keep to them. I did keep to the payments however not the amounts they were asking for...
So on the 27th January 2012 i receive a letter, from a receiver claiming that i must cease contact with my tenants and that all monies should go to him. He has been appointed by the bank...28th January the receiver comes into my property...
During that time i was so distraught...30 years of work to be taken from me in an instance? All because i signed? Surely, the bureaucratic society we live in cant be so vague?
The bank says i owe them £353,000.00...??????????????
I only agreed to mortgages that came to the amount of £250,000.00...i was also making payments to this account...Where have my payments gone? i took the loan out in 2009...
Now i do not debate i do not owe the bank money, however i do debate the banks assumption of the amount i owe above...
RESTRUCTURED LOANS (INTEREST ACCOUNTS OVERDRAFTS)
To the best of my knowledge, my husband and i have are aware that the bank restructured our loans, overdrafts. We assumed it was to our benefit. So is this £353,000.00 a computation of my mortgage, loans and overdrafts?
I contacted my bank asking if they could provide to me the information of a break down as to how they justify the amount they say i owe them. What was presented was the amount i signed for, and then to my surprise a loan for £165,000.00 was provided? Now i was led to believe that the restructuring was to my benefit, i was not aware that when you restructure accounts you actually borrow money to do this??? My bank did not state this. AS a consumer i was not aware that this is the process of restructuring.
The information also stated that A BRIDGING LOAN WAS CREATED (£165,000.00) TO RESTRUCTURE EXISTING DEBT FROM ARREARS AND OVERDRAFT CHARGES???????
IS this common for a bank to do? Could they not see that by doing this my Financial circumstance would inevitably lead to chaos???? Not to forget, the bank did charge me £5,000 to do this restructuring to my accounts.
So my bank is masterminding Profit by tuning my accounts to be detrimental.
NOW, the bank have called in the loan?????????????
I signed the agreement that said the bank can come in at any given time and reclaim any security they have on the loan???? If this was the case i would not have signed the document clause.
The bank refuse to contact me or reply to any of my messages.
My account manager, With evidence i have saved, tells me "no one wants to speak to you here, do not call again"
This is a bank regulated by the FSA?????
What do i do guys? i have contacted the financial services ombudsman, i am waiting for an adjudicator. I have been told by the ombudsman that they can stop the banks claim however during the wait i am incurring interest and the bank is still adamant that i raise funds to repay the loan i have with them...
Also i sold a property that was to generate around £46,000.00 to repay my mortgage, Where has this money gone??? the bank is not telling me where the money has gone, Why is the balance owed still so high?????
I found this website legalbeagles and thought for an inspired element of hope,
Based on the banking conduct code, the bank i believe is breaking laws within this code. I am so frustrated that they believe due to a signature, they have control over me. What do i do to stop the receiver from taking my properties. How do i go about taking the bank to the county court. i have been treated like a criminal, its not my fault the nature of my business requires consumers to enter the premises and purchase products, i have been working within this environment for over 45 years, i understand the trends of consumers, it is a quite time without a doubt....
I just need help guys, im being treated so unfairly, The receiver will not allow me to sell my properties because he wants to get his commission, if he sells them at auction there may be a shortfall, so im then left with no work...How do i stop this, the bank did not contact me in any way, i was led to believe that recovery was not so serious and that it was a means to arrange my accounts to make it favourable for myself to make payments...Why was this dissmissed? i presented them with proposals? but no one would talk to me at the bank...What is happening here????
i am doing all i can.. Under the banking conduct of business, how do i challenge the bank?
I sincerely thank all those that have taken the time to read this thread
Please feel free to reply on any grounds of assistance that i can attmept to stall off the receiver so that the bank can be investigated on the handling of my account?
My regards
MBHM11
PLEASE READ MY STORY, WHAT CAN THE BANKING CONDUCT OF BUSINESS REALLY DO?
I am experiencing probably one of the most challenging circumstances in my life. I am being taken in to receivership by my bank. The Bank being the "bank of Cyprus uk" i Live in england.
I have a mortgage with this bank. During the recession, i was experiencing great difficulty keeping to contractual payments. i contacted my bank daily, with letters, phone calls and gave them proposals on my ways of trying to generate more of an income to keep to the payments. However, with disregard, i was told by the bank that i signed to make contractual payments and i was obliged to keep to them. I did keep to the payments however not the amounts they were asking for...
So on the 27th January 2012 i receive a letter, from a receiver claiming that i must cease contact with my tenants and that all monies should go to him. He has been appointed by the bank...28th January the receiver comes into my property...
During that time i was so distraught...30 years of work to be taken from me in an instance? All because i signed? Surely, the bureaucratic society we live in cant be so vague?
The bank says i owe them £353,000.00...??????????????
I only agreed to mortgages that came to the amount of £250,000.00...i was also making payments to this account...Where have my payments gone? i took the loan out in 2009...
Now i do not debate i do not owe the bank money, however i do debate the banks assumption of the amount i owe above...
RESTRUCTURED LOANS (INTEREST ACCOUNTS OVERDRAFTS)
To the best of my knowledge, my husband and i have are aware that the bank restructured our loans, overdrafts. We assumed it was to our benefit. So is this £353,000.00 a computation of my mortgage, loans and overdrafts?
I contacted my bank asking if they could provide to me the information of a break down as to how they justify the amount they say i owe them. What was presented was the amount i signed for, and then to my surprise a loan for £165,000.00 was provided? Now i was led to believe that the restructuring was to my benefit, i was not aware that when you restructure accounts you actually borrow money to do this??? My bank did not state this. AS a consumer i was not aware that this is the process of restructuring.
The information also stated that A BRIDGING LOAN WAS CREATED (£165,000.00) TO RESTRUCTURE EXISTING DEBT FROM ARREARS AND OVERDRAFT CHARGES???????
IS this common for a bank to do? Could they not see that by doing this my Financial circumstance would inevitably lead to chaos???? Not to forget, the bank did charge me £5,000 to do this restructuring to my accounts.
So my bank is masterminding Profit by tuning my accounts to be detrimental.
NOW, the bank have called in the loan?????????????
I signed the agreement that said the bank can come in at any given time and reclaim any security they have on the loan???? If this was the case i would not have signed the document clause.
The bank refuse to contact me or reply to any of my messages.
My account manager, With evidence i have saved, tells me "no one wants to speak to you here, do not call again"
This is a bank regulated by the FSA?????
What do i do guys? i have contacted the financial services ombudsman, i am waiting for an adjudicator. I have been told by the ombudsman that they can stop the banks claim however during the wait i am incurring interest and the bank is still adamant that i raise funds to repay the loan i have with them...
Also i sold a property that was to generate around £46,000.00 to repay my mortgage, Where has this money gone??? the bank is not telling me where the money has gone, Why is the balance owed still so high?????
I found this website legalbeagles and thought for an inspired element of hope,
Based on the banking conduct code, the bank i believe is breaking laws within this code. I am so frustrated that they believe due to a signature, they have control over me. What do i do to stop the receiver from taking my properties. How do i go about taking the bank to the county court. i have been treated like a criminal, its not my fault the nature of my business requires consumers to enter the premises and purchase products, i have been working within this environment for over 45 years, i understand the trends of consumers, it is a quite time without a doubt....
I just need help guys, im being treated so unfairly, The receiver will not allow me to sell my properties because he wants to get his commission, if he sells them at auction there may be a shortfall, so im then left with no work...How do i stop this, the bank did not contact me in any way, i was led to believe that recovery was not so serious and that it was a means to arrange my accounts to make it favourable for myself to make payments...Why was this dissmissed? i presented them with proposals? but no one would talk to me at the bank...What is happening here????
i am doing all i can.. Under the banking conduct of business, how do i challenge the bank?
I sincerely thank all those that have taken the time to read this thread
Please feel free to reply on any grounds of assistance that i can attmept to stall off the receiver so that the bank can be investigated on the handling of my account?
My regards
MBHM11
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