May be of interest to someone?

[courtneyjohnsteve]

Hi,

This is what has happened since 9th March. Had my first and only offer on my house which I accepted as it had been on the market since 31st March 2010 and had no previous offers. Mortgage is 301k interest only with a secured loan of 77k against it....as you can see lots of debt thorough my own stupidity, bad advice and being easy prey for the loan company (First Plus). Big problem was the offer was for 355k (shortfall of 22k) The buyers had to move in on Friday 13th April as their buyers would pull out if they could not move into our buyers house on that date (still with me?). I applied to First Plus for them to agree to the shortfall so the house could be sold and for me to enter into agreement with them to pay off the outstanding balance however I could. I need to say that I left the house in Dec 2010 and live in rented accommodation and my ex (we are still friends) lives in the house with her 2 children. I have been paying the mortgage and the loan whilst my ex pays everything for the house. We are both heavily in debt trying to run two lives. On Thursday 5th April First Plus declined the application after changing nearly all the figures we sent in for our outgoings. This meant we suddenly could afford to live there (we can't and haven't been able to since 2008!) the result is we have lost the sale as we cannot sell. On Monday 16th April my ex moves out to rented and we post the keys to the mortgage company (who have been very good and helpful). I have spoken to the buyers who have been very nice seeming I let them down badly by not getting Sharky Loan...I mean First Plus to accept the shortfall, have sold their house and are renting a caravan. They are now waiting for the mortgage company to put our house up for sale (about 3 / 4 weeks) and they will make an other offer (probably about 25K less than they offered me!). You could not make this up. Not once in all the time that I had applied for the shortfall (11th March - 5th April) did First Plus contact me / talk to me. When I rang last Thursday as a last resort the 16 year girl in the shortfall department said computers says no!!. I told them I was handing the keys in but they did not care and were happy for their secured loan to become unsecured! What happens next I don't know? my ex is in rented and so am I and we have nothing to give......cheers:

[labman]

Re: May be of interest to someone?

Have you got definitive proof that they changed your IE figures? This could land them in a lot of trouble as it could well be a fraudulent offence. Others on here are better placed to advise you on that than I am.

[bluebottle]

Re: May be of interest to someone?

Hi Courtneyjohnsteve,

As you will see from my signature, I am a retired policeman. Having looked through your post, I have to inform you that First Plus have committed an offence under Section 17, Theft Act 1968, that of False Accounting, in that they altered figures on a document kept for accounting purposes, and also under Section 2(1), Fraud Act 2006, that of Fraud by False Misrepresentation, by causing loss to you or, at the very least, exposing you to the risk of loss, this being the lost sale. There may also be torts under Civil Law on the part of First Plus.

At this stage, I would advise you to contact your local Law Centre, where you can obtain free legal advice. My gut-feeling is that, at some point in the future, you will need to make a statement to the police, or one of the financial regulatory bodies or both. False Accounting and Fraud by False Misrepresentation are serious offences under the Criminal Law, carrying maximum penalties of 7 years' and 10 years' imprisonment, respectively.

[courtneyjohnsteve]

Re: May be of interest to someone?

Hi, Thanks for your input and has made me think. When we sent my ex's outgoings it came to about 2k but when I rang First Plus they said they had got it down to 1,100k. They had changed almost everything such as the 30 pounds per month for car maintenance down to 15. Her road tax is 168 pounds a year for a start (8 year old Citroen). Monthly food down to 300 pounds from 400...,one adult, 17 and 15 year old girls. Of course the outcome then meant that we had 900 pounds spare each month and so could afford their loan repayments of 721 pounds per month! Well we can't so on Monday when my ex moves out the keys are in the post to the Bank of Ireland who I have to say have been really good so far. They rang me today to say that when I send the keys will I also send the name and number of the people who wanted to buy our house (they still want it) I guess that they bank will contact them when they put the house up for sale and let them make another offer. I have nothing to say about First Plus that doesn't involve very rude words. Cheers

[bluebottle]

Re: May be of interest to someone?

Hi, Thanks for your input and has made me think. When we sent my ex's outgoings it came to about 2k but when I rang First Plus they said they had got it down to 1,100k. They had changed almost everything such as the 30 pounds per month for car maintenance down to 15. Her road tax is 168 pounds a year for a start (8 year old Citroen). Monthly food down to 300 pounds from 400...,one adult, 17 and 15 year old girls. Of course the outcome then meant that we had 900 pounds spare each month and so could afford their loan repayments of 721 pounds per month! Well we can't so on Monday when my ex moves out the keys are in the post to the Bank of Ireland who I have to say have been really good so far. They rang me today to say that when I send the keys will I also send the name and number of the people who wanted to buy our house (they still want it) I guess that they bank will contact them when they put the house up for sale and let them make another offer. I have nothing to say about First Plus that doesn't involve very rude words. Cheers

It might be worth contacting the OFT about First Plus, especially in view of their "creative accounting". It might not help in your case, but if OFT have had other reports about First Plus, your's might be the report that triggers an investigation or, even, enforcement action. What First Plus has done is not only highly irregular, but illegal, also. As a retired policeman, I cannot and will not condone it or suggest you put it down to experience. This matter needs investigating. It is good that the Bank of Ireland have been understanding and co-operative. If only other banks were like that.....

[teaboy2]

Re: May be of interest to someone?

Also make a formal complaint to the financial ombudsman, as they can award you compensation for any damages or financial loss you incurred as a result first plus's actions, by ordering first plus to compensate you!