Newby signing in

[Cheshirelass]

Hello to all

I am a new member with a mis-sold mortgage problem.

I will try to keep this brief.

In 2002/03 we went to Citi Financial for a loan.
The manager looked at our bank statements and general finances and told us we would be better taking out a remorgage.
We did this on her advice and were told we had to take out PPI or we wouldn't get the mortgage.
She told us that within 2 years we would be able to transfer this mortgage to a high street building society and the interest would be less therefore reducing the payments.
In 2006 we were told our morgage was being taken over by Gmac RFC.
In August 2006 we received a letter from Gmac informing us of a change in ownership of our mortgage to Mortgage Express from October.

In 2007 I was made redundant and my husband was put on a 3-day week. We struggled financially. I used my redundancy money to keep up the mortgage payments then when that ran out I cashed in my pension to keep the payments up to date. By 2009 I still hadn't got another job and at 59 the job situation wasn’t looking good.
I rang MX and asked for their help and advice I quoted government guidelines about payment holidays or interest only they didn’t want to know.
At the end of February 2009 we had a repossession notice for 7 days time.
We had 3 days to empty our home and on the 3^rd March we were homeless.

Hindsight is a wonderful thing. I believe we should never have been sold that mortgage by Citi Financial I also know we were definitely made to take out PPI which obviously was not transferred when the mortgage was transferred or we would not have lost our home.

There is no Citi Financial office in our town and I have email their head office to find out where our file would be kept they have not replied.
I really don’t know where to start and any help would be appreciated.

[Monzter]

Re: Newby signing in

Hi there cheshirelass and welcome to Legal Beagles

Have a read here http://www.legalbeagles.info/forums/...surance-Issues

and here http://www.legalbeagles.info/forums/...nce-reclaiming

I know nothing about your problem I'm afraid but someone will be along who knows about this area and help you out a bit. Meanwhile reading some of the things I have linked above might give you some more info.

[IanM]

Re: Newby signing in

Hello Cheshirelass.


["""At the end of February 2009 we had a repossession notice for 7 days time."""]

I have quoted this line of your comment because there is something very wrong with this.

I would need to know more about your case to be able to advise you properly but normally you have 28 days to vacate a property after repossession.

For them to have obtained a 7 day order means they must have made a misrepresentation to the court with regards to your arrears to influence the judges decision, they may have added fees and charges to your arrears and presented the total as the actual arrears to make the situation look bad for you.

There must also have been previous hearings before they gained a possession order, do you have all the paperwork?

If not then please ask Tuttsi to help you to send a SAR to your mortgage company to obtain all your papers.

[bluebottle]

Re: Newby signing in

Hello Cheshirelass.


["""At the end of February 2009 we had a repossession notice for 7 days time."""]

I have quoted this line of your comment because there is something very wrong with this.

I would need to know more about your case to be able to advise you properly but normally you have 28 days to vacate a property after repossession.

For them to have obtained a 7 day order means they must have made a misrepresentation to the court with regards to your arrears to influence the judges decision, they may have added fees and charges to your arrears and presented the total as the actual arrears to make the situation look bad for you.

There must also have been previous hearings before they gained a possession order, do you have all the paperwork?

If not then please ask Tuttsi to help you to send a SAR to your mortgage company to obtain all your papers.

If this is, indeed, the case, it is serious. If the legal professional who represented the mortgage company at the hearing misrepresented fact and mislead the court, that is serious professional misconduct. If the arrears were misrepresented and had they not been so misrepresented the court would have refused a 7-day repossession order or any repossession order, that may well amount to Perverting the Course of Justice. Although a Common Law offence, it is taken very seriously as it undermines the law and judicial process.

Find out what has happened and if it does turn out that facts were misrepresented by the mortgage company, you will need to make a complaint to one of the following -

Solicitors Regulation Authority (SRA) - www.sra.org.uk if a solicitor was involved;
Bar Standards Board (BSB) - www.barstandardsboard.org.uk if a barrister was involved;
Institute of Legal Executives (ILEX) - www.ilex.org.uk if a legal executive was involved.

[Cheshirelass]

Re: Newby signing in

I am sorry I made a mistake the notice of eviction was issued by the court on 9th Feb and the eviction date was 3rd March.

[IanM]

Re: Newby signing in

Not to worry, mistakes happen.

If you don't mind could you post some more info, i.e:

How much was the mortgage for?
What was the value of the house?
When was the house sold and for how much?
Did the sale proceeds just cover the value of the loan or was there excess?
Was the house advertised on the open market or was it sold 'in house'?
Did they place a 7 day notice in the local paper saying they had received an offer and invite higher offers?

[Cheshirelass]

Re: Newby signing in

The mortgage was for £85,000 and at that time the house was valued at £90,000

the house was put on the market a couple of months after the repossession it was on the market for at least a year maybe even 18 months

The house was advertised with a local estate agent for £65,000 and thast is the price they got. As far as I know they didn't put a 7 day notice in the local paper. The proceeds didn't cover the cost we have had letters from MX to say we owe £24000 shortfall.

[IanM]

Re: Newby signing in

The mortgage was for £85,000 and at that time the house was valued at £90,000

the house was put on the market a couple of months after the repossession it was on the market for at least a year maybe even 18 months

The house was advertised with a local estate agent for £65,000 and thast is the price they got. As far as I know they didn't put a 7 day notice in the local paper. The proceeds didn't cover the cost we have had letters from MX to say we owe £24000 shortfall.

Not exactly sure what you can do but you can start by checking whether the house was then sold on again for a higher value than the £65,000 they sold it for.

You could ask them to provide evidence the house was advertised for sale properly after repossession and ask why it took them so long to obtain the price they got, they should have advertised the house at the market value of £90,000 not £65,000, you would have at least obtained a better price than £65,000 if you sold it yourself, make sure you get evidence of the value of the house at the time of repossession. Also consider that the housing market was rising not falling during that period they valued your house.

Double check any past valuations they have had done on the house as well, there may be evidence that the valuation reports have been manufactured by an estate agent in favor of the mortgage company, (high value to issue the mortgage, low value on repo)

If they take you to court for the outstanding £24,000 you would have to prove they could have got more for the house than they did and you should not be held liable for the full amount owed, the mortgage company may have to reduce the amount you owe if you get a sympathetic judge.

It looks like the person that paid £65000 for the house then sold it on and pocketed your equity leaving the mortgage company chasing you for what they are owed.

Big scam but hard to prove conspiracy until all the buyers are linked to multiple purchases of properties from the same mortgage company.

[Cheshirelass]

Re: Newby signing in

Thanks for the advice, I am not worried about the £24,000 which has been passed to a DCA McKenzie Hall who have said if we don't pay they will get an attachment of earinings order except we don't have earnings I am on state pension and housing benefit and my husband is 64 and unemployed and on pension credit.
The help I really want was how do I make a claim for a mis-sold mortgage and PPI by Citi Financial.

[alham]

Re: Newby signing in

Sorry, are we talking about the debt that was crystallized going back to 2009?

[Bill-K]

Re: Newby signing in

Hi and welcome, Cheshirelass. That sure is a sorry tale, but the conduct of Citi and Gmac doesn't surprise me.

First of all, as IanM says, you need to check you have all the paperwork. If not, then send a DSAR (Data Subject Access Request) to the mortgage providers. Another one to Citi might get you some info, but as the original PPI sale was over 6 years ago, it may not get you very much.
DSAR Letter Template: http://www.legalbeagles.info/forums/showthread.php?t=70

Then take a look at the second link that Monzter posted, which takes you to the PPI Section: http://www.legalbeagles.info/forums/...nce-reclaiming
In there, you will find a number of 'sticky' posts, and these two are very useful: http://www.legalbeagles.info/forums/...hrough-the-FOS
http://www.legalbeagles.info/forums/...ASE-READ-FIRST

If/when you send the DSAR(s), do not tell the lenders why you are sending them, and do not send in a claim letter until you have your data. You reclaim the PPI from the firm that originally sold you it (Citi), as they are the ones who are responsible for mis-selling it to you. If you were given the impression that the PPI was compulsory, then it WAS mis-sold. The problem can sometimes be that it is just your word against theirs, and you may need to assemble a list of other reasons to add to your claim (see the PPI links above). One other reason you can probably give is that you weren't told that the PPI only covered you for the first 5 years, and only covered one of the mortgagees - but you will need to check this for sure.

If the PPI was not transferred when the mortgage was transferred, was this explained to you ? It would be interesting to see the figures for this, as you may well have still been paying for PPI which you thought had been cancelled. Did you make a claim under the PPI policy when you were made redundant ? If so, what was the outcome of this ?

[Cheshirelass]

Re: Newby signing in

I have done some checking on sold houses sites and there is no record of our house being sold. It was advertised by an estate agent and I underdstood from the neighbours that a builder bought it and has now rented it out.