Secured loan problem after sale of property

[Doozy]

Re: Secured loan problem after sale of property

enriched by what, it was yours to begin. Was this for lawyers fees - if so how much are they claiming from you? How has it reached £36,000

there saying we enriched by the sum of 24799 because we spent the money and couldn't give it back to them to give it halifax so the property could be discharged. It wasn't for there fees they still charged us they still took there fee from the sale of the property before anything was released to us

[meellis]

Re: Secured loan problem after sale of property

If I am understanding this correctly from reading the original posts carefully and fully instead of gleaming over the top and thinking I understand it is
1) the property was sold by the OP to clear debts and there was more than enough funds in the property to do so.
2) The solicitor acting for the OP transferred funds into the OP's account when it should have cleared the secured loan for £24,000 with these funds
3) The OP went and spent the funds after asking whether they should have had them
4) The Halifax came looking for the funds and questions were asked
5) From these enquires it was ascertained that the solicitor was at fault hence they were taken to court by Halifax hence they were under the belief that the solicitor was at fault not the OP
6) The solicitor decided to chase the OP for the spent funds, issued a claim and obtained CCJ by default by issuing claim to address of property knowing that OP had sold.
That is my brief take on the situation.

[Diana M]

Re: Secured loan problem after sale of property

1) the property was sold by the OP to clear debts and there was more than enough funds in the property to do so.
2) The solicitor acting for the OP transferred funds into the OP's account when it should have cleared the secured loan for £24,000 with these funds
3) The OP went and spent the funds after asking whether they should have had them
4) The Halifax came looking for the funds and questions were asked
5) From these enquires it was ascertained that the solicitor was at fault hence they were taken to court by Halifax hence they were under the belief that the solicitor was at fault not the OP
6) The solicitor decided to chase the OP for the spent funds, issued a claim and obtained CCJ by default by issuing claim to address of property knowing that OP had sold.
That is my brief take on the situation.

Mine too

Di

[Doozy]

Re: Secured loan problem after sale of property

If I am understanding this correctly from reading the original posts carefully and fully instead of gleaming over the top and thinking I understand it is
1) the property was sold by the OP to clear debts and there was more than enough funds in the property to do so.
2) The solicitor acting for the OP transferred funds into the OP's account when it should have cleared the secured loan for £24,000 with these funds
3) The OP went and spent the funds after asking whether they should have had them
4) The Halifax came looking for the funds and questions were asked
5) From these enquires it was ascertained that the solicitor was at fault hence they were taken to court by Halifax hence they were under the belief that the solicitor was at fault not the OP
6) The solicitor decided to chase the OP for the spent funds, issued a claim and obtained CCJ by default by issuing claim to address of property knowing that OP had sold.
That is my brief take on the situation.

4) halifax never came to us with the problem or asked us anything regarding the matter but aparantly signed deeds of assignment over to the solicitor.

[meellis]

Re: Secured loan problem after sale of property

Sorry about the way it reads Doozy, what I meant in brief was Halifax hadn't received the funds so started looking themselves and they had ascertained themselves that your solicitor was at fault hence 5 the solicitors were taken to court. I feel that it is important that is understood because the Halifax obviously were of the opinion that the solicitors owed them and not you.

[Doozy]

Re: Secured loan problem after sale of property

Basically in a nutshell that's what they have done to get there money back but under the ccj we've payed 5,500 to the solicitor already then the outstanding balance is 36,000

[Doozy]

Re: Secured loan problem after sale of property

Basically in a nutshell that's what they have done to get there money back but under the ccj we've payed 5,500 to the solicitor already then the outstanding balance is 36,000

UPDATE*
Put a complaint into sra they said nothing they can really do but advised legal ombudsman.
Looked on land registry nothing flagged up on there .
Spoke to the halifax who said account was closed July 2005. So no joy there.
So rang financial ombudsman they contacted halifax to ask why we hadn't been told about it being passed over to solicitors. Halifax been really good and rang today saying they can find no trace of any paperwork or on land registry that they assigned our rights to the solicitor. Going to put it all in writing for me so now stuck as to what to do now anybody got any suggestions I'm totally stuck???

[Diana M]

Re: Secured loan problem after sale of property

UPDATE*
rang financial ombudsman they contacted halifax to ask why we hadn't been told about it being passed over to solicitors. Halifax been really good and rang today saying they can find no trace of any paperwork or on land registry that they assigned our rights to the solicitor. Going to put it all in writing for me

Post # 19

halifax never came to us with the problem or asked us anything regarding the matter but aparantly signed deeds of assignment over to the solicitor.

Does your thread update mean that the FOS will take up your complaint (despite the time lapse) and focus on the issue that the Halifax should not have assigned your loan to a third party without your knowledge or involvement?

Maybe there was nothing in the Terms & Conditions of the loan which provided for assignment to a third party?

As a result you have been charged (by your ex-solicitor) interest at 8% for some years, instead of the low interest rate previously established on the loan if it had run to the end of the term.

Di

[Doozy]

Re: Secured loan problem after sale of property

Does your thread update mean that the FOS will take up your complaint (despite the time lapse) and focus on the issue that the Halifax should not have assigned your loan to a third party without your knowledge or involvement?

Maybe there was nothing in the Terms & Conditions of the loan which provided for assignment to a third party?

As a result you have been charged (by your ex-solicitor) interest at 8% for some years, instead of the low interest rate previously established on the loan if it had run to the end of the term.

Di

Hi di
the financial ombudsman would only look at it if I put a complaint in about halifax assinging the secured loan with out my knowledge so the halifax have dug around all there paperwork and found nothing saying that they had passed it over to solicitors as far as they are concerned the account was closed in July 2005 . As for the rest I'm not sure on because solicitor gained the default ccj under cca with the agreement we had with halifax saying there are assignee of halifax plc to the debt so I'm confused as to what I do now the sra have said to send them copy of letter halifax sends saying they never signed rights over to solicitors we are paying 8% intrest and £4.36 a day.

[Diana M]

Re: Secured loan problem after sale of property

the financial ombudsman would only look at it if I put a complaint in about halifax assinging the secured loan with out my knowledge so the halifax have dug around all there paperwork and found nothing saying that they had passed it over to solicitors as far as they are concerned the account was closed in July 2005 . As for the rest I'm not sure on because solicitor gained the default ccj under cca with the agreement we had with halifax saying there are assignee of halifax plc to the debt so I'm confused as to what I do now the sra have said to send them copy of letter halifax sends saying they never signed rights over to solicitors we are paying 8% intrest and £4.36 a day.

Based on what you've just posted why not put in a formal complaint to the FOS once you've got the paperwork. In fact you can register your complaint (have you?) and then let the paperwork catch up as they investigate. The absence of paperwork may not be a hindrance in the grand scheme of things. Who knows.

Why not send a SAR (ask if you need to know how to do that) to the Halifax to see what's on your historical file.

I also think you should send a SAR to the solicitors who were acting for you at the time of the sale.

Who were the solicitors instructed by Halifax at the time this all happened? Maybe you need to SAR them too.

Each SAR will cost you £10 but if the £40 invested in getting the information solves this problem then it could be money well invested.

One step at a time.

Di