Swift Advances Plc?

[Sparkie1723]

Re: Swift Advances Plc?

A little advice!
If you have cause to speak to Swift Group Legal Services on the phone for any reason and you have the BT service that gives you free calls to any BT landline do not call on the 0845 number as this is charged at a higher rate than a normal call as you know, this is why they keep you holding for as long as possible, they make money from this number.

Call Swift Group Legal Services on their own direct line 0277359466, this is a further indication that they do class themselves as a separate firm and not a department within Swift Advances plc like the credit control and compliance department, as they try to make you believe

The above number is the one supplied to the Law Society and shown on their registration as the number for the "Organisation" Swift Group Legal Services.

I was not going to post further info, as I heard some people were having doubts about some of my posts.

But as this will save Swift Borrowers money I thought I would over rule myself.

Sparkie

[Sparkie1723]

Re: Swift Advances Plc?

I have been reading anther forums threads on Swift Advances plc and it sickens me to read of how people are still suffering from the actions of these people and some are asking if they can do anything about Swift Advances plc even though, they have been forced to settle their loans to get away from their abusive, bullying tactics....I would advise that they use Section 140 of the New Consumer Credit Act amendments 2006.The Unfair Relationship.
Under this section the court can re-open agreements that have ended.
Claims can be submitted under this section , and you can challenge" Anything that the creditor has done before the agreement was entered into ...anything that was done during the agreement was in force.......and anything done after the agreement has ended,

Armed with what the OFT independant adjudicator has concluded and placed the restrictions on Swift Advances plc........the Claimant will stand a much better chance on succeeding on a claim made under this section than ever before.........the adjudicator has given you the bullets ,,,,now fire them in your claim.
I believe that this assement and restrictions will guide and assist the Courts into ruling as to what was fair and what was not.

As Iam banned from posting on a certain forum...........it would be advantageous and helpful if this could be pointed out on that forum, to assist other customers obtain fairness and justice.

Sparkie

Just my View not to be taken as absolute fact merely a pointer in the right direction.


One other thing before anyone commences proceedings make a CPR 31.16 application for them to supply a copy of the underwritng sheet appertaining to your laon and stress the importnce of the supply of this will have on your ability to pursue your claim......and point out that if this document is not supplied it will substantially weaken your claim and chances of success of your claim

[Sparkie1723]

Re: Swift Advances Plc?

For the benefit of the Swift Advances plc trolls, .......I have made the OFT aware that this Monday they applied for repossession of 9 homes in N.Ireland .....another 9 today and have 4 more listed for tomorrow......22 homes in 3 days.........at this rate they will own all the homes in N.Ireland, but that's what they do ........repossess peoples homes


Sparkie

[Sparkie1723]

Re: Swift Advances Plc?

On the lighter side of things, I had a dream last night, I dreamt I found this in a dustbin down south somewhere......and for the life of me I can't remember where


An Interim Directors Report

It has been a difficult year for the company, the forecasts of previous reports have come under severe attacks from a certain band of customers who unlike most of our other customers who we could control by our bullying tactics, were not controllable, no matter how we tried to abuse them, this small band and others have caused us a considerable number of problems and extra work and we face financial fines by the authorities.

We are trying to rectify matters by gaining more house possessions in the shortest possible time by using our same old tried and tested techniques of allegedly lying to the courts and misleading the Judges, it has been easy in the past because they do not have the time to check up on what we tell them.

The company is slowly encountering more and more resistance from our customers and it is not possible to predict the long term outcome of the events that are taking place.

Some customers have found out more than what they should have done, such as our double accounting, false accounting, and "irregular borrowing", we are doing our best to cover our tracks on these issues, only time will show if we achieve this, but our select band of shareholders can be assured we are trying to keep up the generous supply of this extra money.

We will continue to lie our way through these trying times and hope we are believed as we have been in the past, rest assured that we do have a contingency escape plan by which all will more likely to be able to hold on to our individual stash of cash that will be difficult to trace.

The increase in applications for possessions of borrowers property will continue for as long as possible, we have one thing on our side that will assist us in that quest, the power of money to be able to enjoy the fact we can employ clever unconscionable solicitors and Barristers to act for us at the cost of the borrowers. It has been easy to get these properties in the past . No longer is this so, it is getting more difficult.

Another issue we must consider, we may be forced to repay a lot of charges we have collected by being a little too greedy, and using our unlicensed trading names to apply them, we will have to find another way to apply these, as this is our bread and butter, we cannot run our companies on our interest rates alone, after paying the interest on the funds we have borrowed would leave us with a profit margin of 6 to 7 percent no business can remain trading on a margin such as this, if we lose our charges income.

The directors are sorry for such a dismal report but we have tell the truth for once, and apologise for having to do so

Signed

A director......................................... when we can find one to sign it

[TINKEY2]

Re: Swift Advances Plc?

That made me smile, I don`t think they will find A director who will sign it!!

TT:cheer2:

[Sparkie1723]

Re: Swift Advances Plc?

That made me smile, I don`t think they will find A director who will sign it!!

TT:cheer2:

Hi TINKEY 2,

Then again you have to remember the last time someone had a dream.........he got assassinated!!!!

Sparkie

[Sparkie1723]

Re: Swift Advances Plc?

Swift shocked by OFT's threat to cancel licence

27 June 2011
Sub-prime lender Swift says it is surprised at the Office of Fair Trading’s threat to remove its consumer credit licence last week after discovering poor lending practices.
Swift, trading as Swift Advances and Swift Securities, is regulated under the Consumer Credit Act for second charge lending and by the Financial Services Authority for first charge mortgages.


Last week the OFT revealed that it has ordered the lender to improve its practices or risk losing its licence. It could also be fined up to £50,000.

Its investigation found the lender was failing to check whether applicants could afford the loan or to verify their income. It also did not fully check information in applications.
The OFT also uncovered evidence that in some cases Swift failed to fully explain the charges that could be incurred if customers fell into arrears and failed to exhaust alternative options before taking borrowers to court.

Mortgage Strategy revealed in December 2010 that Swift was being investigated by the FSA for its handling of borrowers in arrears and had set aside £9.4m to cover a potential fine and other costs.

But a spokesman for Swift says: “We were surprised by the tone of the OFT press release. At no point during the investigation or during the adjudication procedure was it suggested that Swift’s licence was in jeopardy.”

Rubbish they were warned publicly around November 2010???....Sparkie

But David Fisher, director of consumer credit at the OFT, says: “Credit businesses must lend responsibly and failure to do so can have a serious impact on borrowers. We require Swift to significantly improve the way it carries out its business. If it fails to comply with these requirements, it will face further enforcement action.”


Another Press release


Watchdog raps Alchemy firm Swift

24 Jun 2011



One of the country's largest subprime lenders, owned by the major private-equity firm founded by Jon Moulton, has been rapped over the knuckles by the Office of Fair Trading.Swift, which trades as Swift Advances and Swift Securities, was warned it could have its credit licence revoked if it does not improve its act rapidly.

Swift is owned by Alchemy, the £1 billion private-equity group which Moulton quit two years ago after falling out with management.







Sparkie

[rosie1479]

Re: Swift Advances Plc?

Hello i am new here and desperately needing some help dont know who to trust anymore, swift are trying to take our home which is also an animal sanctua:tinysmile_kiss_t4::beagle:ry, It would appear when i start to ask questions they tell me theres is nothing i can do, they have lost paperwork and door upon door is closed in my face, firstly we were sold this through a guy called matt hodgson from global reach services, (gone) he got valuation allied surveyours, ian frost. he has run away and allied surveyours are now in liquadition but set up again as allied dilengently, the point i am trying to make firstly is ian frost over valued property by more than 50% its true worth, we have proof of this five independant valuations, we have tried to get comp from insurers but allied is now liquadated, the other point i am making is we would never have acted or taken out any loan if we had known true valuation.
Also the paperwork i have has two signtures on and they arent mine, have asked swift for all copies of agreements from them, i am still waiting, weeks now and they have eviction date set for us 19th july, we have no solicitor cant afford one and dont know who to trust anymore, I am appealing via the court system but no one there is bothered and i get the ipression that they all think it is pointless what i am trying to do. I am trying to save our home and more to me than that, the sanctuary, we have only acted upon the influences of others, professional others that are suppose to know what they are doing, how is it then, that through their faults and mistakes we all have to pay the price. I chained myself to the angel of the north a few years ago i protest, i feel now that the only way to be heard it to shout as loud as we can instead of others trying to silence us for good. Our own web site is available for anyone to set up forum on, united as one, all help welcome.
Oh and i have them on tape telling me they have lost documents, then telling me that they are archived. everytime i have been in court they make me feel like nothing, them and their fancy lawyer and me on my own, who is the law for anyway?

[Sparkie1723]

Re: Swift Advances Plc?

Hi Rosie1479,
Can you tell us if your agreement is a first charge or a second charge mortgage...we will begin checking out these people you mentioned ....our little band have ways and means of doing so

Next put a letter together and make a complaint to the OFT setting out the main points...do this quickley .....leave the other to us.

You are not a lone ....and you can certainly trust us.
I have aready just advised the OFT of the content of what you have posted, so they will be prepared to receive your complaint

Oh PS what is your web site address

Sparkie

[TINKEY2]

Re: Swift Advances Plc?

Hello i am new here and desperately needing some help dont know who to trust anymore, swift are trying to take our home which is also an animal sanctua:tinysmile_kiss_t4::beagle:ry, It would appear when i start to ask questions they tell me theres is nothing i can do, they have lost paperwork and door upon door is closed in my face, firstly we were sold this through a guy called matt hodgson from global reach services, (gone) he got valuation allied surveyours, ian frost. he has run away and allied surveyours are now in liquadition but set up again as allied dilengently, the point i am trying to make firstly is ian frost over valued property by more than 50% its true worth, we have proof of this five independant valuations, we have tried to get comp from insurers but allied is now liquadated, the other point i am making is we would never have acted or taken out any loan if we had known true valuation.
Also the paperwork i have has two signtures on and they arent mine, have asked swift for all copies of agreements from them, i am still waiting, weeks now and they have eviction date set for us 19th july, we have no solicitor cant afford one and dont know who to trust anymore, I am appealing via the court system but no one there is bothered and i get the ipression that they all think it is pointless what i am trying to do. I am trying to save our home and more to me than that, the sanctuary, we have only acted upon the influences of others, professional others that are suppose to know what they are doing, how is it then, that through their faults and mistakes we all have to pay the price. I chained myself to the angel of the north a few years ago i protest, i feel now that the only way to be heard it to shout as loud as we can instead of others trying to silence us for good. Our own web site is available for anyone to set up forum on, united as one, all help welcome.
Oh and i have them on tape telling me they have lost documents, then telling me that they are archived. everytime i have been in court they make me feel like nothing, them and their fancy lawyer and me on my own, who is the law for anyway?

Don`t worry Rosie you are in safe hand with Sparkie, he will help you all he can. After the OFT ruling they will be in serious trouble for this. They have not took a blind bit of notice of the requirements - but they will!! sparkie has the bit between his teeth, he won`t let go either.

TT

[Sparkie1723]

Re: Swift Advances Plc?

Thanks for the compliment TINKEY 2...but as you know I have other "comrades in arms" each has their own speciality and techniques.

Rosie contact your first charge lender as I presume the "Swift" loan was a second charge,
ask them to supply you with copies of all correspondence they received in relation to your loan and charge on your property from all parties
Ref your agreement "Swift" must have supplied a copy in their Court claim bundle .....go and ask the court to make a copy of it for you ....might cost you 50p or so....but get it from there.....then let us have a look at it with all personal details removed of course ...........you can do this by using photo bucket
Sparkie

[Dougal16T]

Re: Swift Advances Plc?

Hello i am new here and desperately needing some help dont know who to trust anymore, swift are trying to take our home which is also an animal sanctua:tinysmile_kiss_t4::beagle:ry, It would appear when i start to ask questions they tell me theres is nothing i can do, they have lost paperwork and door upon door is closed in my face, firstly we were sold this through a guy called matt hodgson from global reach services, (gone) he got valuation allied surveyours, ian frost. he has run away and allied surveyours are now in liquadition but set up again as allied dilengently, the point i am trying to make firstly is ian frost over valued property by more than 50% its true worth, we have proof of this five independant valuations, we have tried to get comp from insurers but allied is now liquadated, the other point i am making is we would never have acted or taken out any loan if we had known true valuation.
Also the paperwork i have has two signtures on and they arent mine, have asked swift for all copies of agreements from them, i am still waiting, weeks now and they have eviction date set for us 19th july, we have no solicitor cant afford one and dont know who to trust anymore, I am appealing via the court system but no one there is bothered and i get the ipression that they all think it is pointless what i am trying to do. I am trying to save our home and more to me than that, the sanctuary, we have only acted upon the influences of others, professional others that are suppose to know what they are doing, how is it then, that through their faults and mistakes we all have to pay the price. I chained myself to the angel of the north a few years ago i protest, i feel now that the only way to be heard it to shout as loud as we can instead of others trying to silence us for good. Our own web site is available for anyone to set up forum on, united as one, all help welcome.
Oh and i have them on tape telling me they have lost documents, then telling me that they are archived. everytime i have been in court they make me feel like nothing, them and their fancy lawyer and me on my own, who is the law for anyway?

Hi Rosie and everyone,

Rosie you MUST go to the Citizens Advice Bureau immediately - get some good legal advice NOW!

You can make an application to suspend any possession order, by asking that application to the Court that issued the eviction notice - can you post the notice details please?

We WILL all try and help you through this - on behalf of everyone I can promise that much.

Please let us have as much information as possible.....firstly which Court has issued the paperwork?

Our very best wishes,

Dougal ...(and I know I speak for everyone else.....)

[Sparkie1723]

Re: Swift Advances Plc?

Today I received Swift Advances plc belated response to my SDAR which of course did not contain half of what I requested……..they just took no notice of the full request.

What they did say at the end of their cover letter was this.

“You have also requested a full statement of your account including all charges and fees”.
(Partly correct I also asked for a breakdown of how these were arrived at....... didn’t happen).

Again the same old worn statement of words follows;

“As your agreement is unregulated no such statement exists, however we have enclosed a copy of an Accrual Statement, which should provide you with the information you require”

It doesn't provide the explanation of how they are calculated and on what basis they are calculated

Notice they use the words “should provide” .

So despite the warning from the OFT that states quite clearly that they should provide a periodic statement of account which complies with the stipulated requirements that a statement of account must contain….another example as to the fact they take not one bit of notice of the OFT and again stick two fingers up to that body, a copy of their letter is off to the OFT, and my cover letter.

I have sent them a reply blasting them to pieces but I can't post a copy of it .....................it would melt LB's network server circuits because its that hot!!!

Sparkie

I spent 4 hrs trying to make sense out of this accrual statement of account and I just can't make any sense of it according to all I have read about statements is that you should be able to understand them..............I can't ...it requires an accountant IMO so im sending it off to the OFT to see if they can decipher it .......................the font size they use is even smaller than below............
A b c d e f g h I j k l m n o p q r s t u v w x y
I joke you not.

Sparkie

[Sparkie1723]

Re: Swift Advances Plc?

I would like to clear up the issue of the use of the phrase which is constantly used by Swift Advances plc and their solicitors and compliance dept
They use the phrase "unregulated agreement" .

There is no defined legal term such as this ...........it is an invented Phrase.

There is no such named agreement

There are only TWO officially and legally named agreements as confirmed by the OFT shown below ....all Swift Advances plc agreements over £25,000 pre April 2008 are exempt agreements as per section 16 (2) (b).

They are exempt in the same manner as your First Charge Mortgage agreement.


I am awaiting a replies to some serious questions from Swift Advances plc............should they not be as I have demanded ............I will make available documents letters from an MD of a certain Brokerage firm confiming certain important issues.....AND much more .....watch this space closely

Sparkie

CONTENTS

Chapter Page
1 Introduction 1
2 Regulated agreements 3

3 Exempt agreements 7

[Sparkie1723]

Re: Swift Advances Plc?

Swift Advances plc have taken no notice of the requests/demands I made.
So to enlighten folks a little more
Section 16 of the CCA 1974 deals with exempt agreements and what are designated exempt agreements and what an exempt agreement is
!6(2) (b)
States this (check it out for yourself)
"a debtor-creitor agreement secured by any land mortgage" (I have highlighted this)

This is a very clear precise statement and means any loan/mortgage ........which is what Swift Advances plc loans are.

This is exactly what your First Charge mortgage is " a creditor debtor agreement secured by a land mortgage"

Your First Mortgage (land charge holder) must and is regulated by the FSA.

Swift 1st Ltd are regulated by the FSA because they carry out first charge mortgages ( secured by a land charge)

Swift Advances plc are regulated by the FSA for insurance purposes only

Their CCA licence only covers them to lend up £25,000 pre April 2008.

Now if you check out Kensington Mortgage Company you will find that they are regulated by the FSA for both First AND second charge mortgages....and So are Southern Pacific Mortgages Ltd

Blemain Finance Ltd who have the same business plan and operate exactly like Swift Advances plc do not hold an FSA licence for "exempt" second charge lending only for insurance mediation.

Think about what this means to your loan ......it is a totally unlawful loan.....forget about "unregulated" loan there is no such animal.
They are exempt agreements.......that is what section 16 is all about.

Sparkie

I am not a lawyer ...have no legal training but I beleive I am right because it is clearly stated in the CCA and is so simple ....that is why it has been missed by everyone till now.

My expertise is in electrics and sometimes it was the simplest fault that caused the most problems but was so simple I didn't see for hrs and hrs.........and I believe the same is with what I have just posted.

I do not think there is an argument against it.