Swift Advances Plc?

[Sparkie1723]

Re: Swift Advances Plc?

I found the FISA Leaflet by searching the Net as we never got one this is what it says about certain things


FISA Brokers must conduct all business in an honest and ethical manner.

This is a list of FISA member Brokers

* Mark Cooke (Bright Finance)
* Ian Guy (Relax Finance)
* Jeremy Masding (Central Trust)
* Paul Newey (Ocean Finance)
* John Webb (Magic Mortgages)
* Tim Wheeldon (Fluent Money)


Promise Finance & Solutions Ltd were/are not members of the FISA that’s why we never got the FISA booklet.


Promise Solutions Ltd state that they are registered on their official business letters .......check out the one posted on the Promise Finace thread..............it strongly appears that they are not a registered member of the FISA from the list above and they are misreprepresenting the fact that they are on that list of registered menbers.


Leaflet says;
There are a number of factors you need to consider when comparing one loan with another. These may include; speed or availability, repayment periods and the monthly repayment. An important factor to consider when comparing loans is the APR (the Annual Percentage Rate of charge). The APR reflects the true cost of the loan. The APR includes all the interest together with anyother charges. This makes it easier for you tocompare the true cost of borrowing.


APRVariable
The APR may be described as “variable”. This generally means that the interest rate may go up or down during the lifetime of the loan. It does not mean that the ratewill automatically go up and down with Bank of England base rates – or anyother base lending rate unless the loan agreement specifically states it is linked to a base rate.

Many loan contracts permit the rate to be varied when the lender, for valid reasons, thinks it is appropriate or prudent to do so, regardless of base rate movements. If the interest rate does increase, this would normally require you to increase your monthly payments. Failure to do so may cause the loan balance to increase.
Always read the loan agreement. This will tell you if the APR is variable and if the interest rate is linked to any other rate or factor.
1 COMMISSION IS PAID BY THE LENDING COMPANY
This is very common. Many lending companies pay the broker a commission for introducing the customer to them. The commission is usually a percentage of the loan amount and may include an element of commission in respect of any insurance product sold with the loan. In many circumstances the percentage will be linked to the APR applied to the loan. If your broker is FISA Registered you can assume this is how he will be paid for arranging your loan. The broker may also receive additional periodic commission in respect of business introduced to any individual lending company during any calendar period. The amount of commission may vary but ordinarily would relate to the total or continuing amount of business introduced to the lender. He will tell you if he is to be paid in any other way.


This means that the argument that Swift Advances plc use claiming that everything is/was explained to them by their broker and in the FISA booket/leaflet they were supplied with has more holes in it than a sieve.....the above was never explained to us and I would imagine nearly every other "Swift" customer....we certainly were not and we did not get such a booklet.

This would appear to defeat Swift Advances plc statement that they only use "Acredited brokers"

If anyone took a loan out with Swift Advances plc with a broker that claimed they were a registerd member of the FISA
and they are not on the list above .....then I would suggest they were/are telling you "porkys"


Sparkie

[Sparkie1723]

Re: Swift Advances Plc?

Just sending this to Swift Advances plc re the redacted Underwriting sheets they send out.

I'm informing them that that below is the only info on their Underwriting sheets they should consider only as their “commercially sensitive” information and “redact” it…..the rest should be shown, and there is a lot of other info they block out that is our personal information, also sending this to the ICO.

Sparkie


Resrict Band Max…………amount?????
Equity cut by %?????
Equity Excluding PPP ?????
Equity Including PPP??????

Total Demerit Points……(Maximum 99)


LOAN AMOUNT OUT OF TERMS
Written out of terms? N/Y??
DNBC prediction in 18 months time ( or what ever)
Equity Exposure in % ????
DNBC Max.Loan Facil ?????
DNBC ratio ?????
Max.Equity (including PPP) Limit Exceeded or not???

Wording such as……….Semi Status Type Case. “You may want to allow the DNBC to Burst To ???%

[Sparkie1723]

Re: Swift Advances Plc?

LBA to Swift Advances Plc gone by E-mail ..........recorded delivery tomorrow. Small Claims...............BUT heavy heavy stuff

Sparkie

[jumper999]

Re: Swift Advances Plc?

saprkie you will see on the entry made on 20/08/2007 where they refer to commission as COMM 1.4 + 3.8/5.6.

Both Ocean and Blemain have admitted to the 1.4% but not the 3.8 and 5.6.........unless these refer to something else, but there is a plus sign next to 1.4

[jumper999]

Re: Swift Advances Plc?

That is another reason to put to the Judge to grant a stay on the proceedings and ask the JUdge to oder full disclosure on the subject of this commissionn make sure that you include the transcript of the recording and your latest discovery in your written submission or present it orally, if time is short for written pleading.

regards

Sparkie

Remember everyone I have no legal training and my views are not to taken as legal advice.........I am a dumb 74 year old senile auto spark

Your 74 and senile, and I'm not too far behind you sparkie at the age of 40

[jumper999]

Re: Swift Advances Plc?

Thanks sparkie this latest discovery was discovered some time ago LOL, but you know as well as I do trying to get an answer from these lenders is trying to grow hair on the palm of your hands.

I will do as you say, I am making a list on all the bullet points for the stay and each one of them hopefully will be enough to grant it.

Thanks so much xxxxxx

[Sparkie1723]

Re: Swift Advances Plc?

Hi sparkie so you are now sure that commission was paid? I know that Blemain paid Ocean a commission after requesting this info such a long time they finally admitted they did but Ocean said in their phone call data log and sent me a CD recording that they were to receive a % of the loan as commission. My voice shows that I said ok...........the amount of the commission was not stated so I cannot use that as a big argument in my case.

However on Ocean's call log there is reference made that Ocean recieved more commission...3.4% & 5.6%. That I believe is extra payments that Blemain paid to Ocean..................but time is short and I wanted to know how I could find out how much these were? I was never sent the Underwriting Sheet I just found it in the data request they sent me.

If I could prove Blemain did pay more than they admit that would be more powerful.

That is another reason to put to the Judge to grant a stay on the proceedings and ask the JUdge to oder full disclosure on the subject of this commissionn make sure that you include the transcript of the recording and your latest discovery in your written submission or present it orally, if time is short for written pleading.

regards

Sparkie

Remember everyone I have no legal training and my views are not to taken as legal advice.........I am a dumb 74 year old senile auto spark

[jumper999]

Re: Swift Advances Plc?

If I were Mr Webster or Mr White I would be packing my bags and looking to leave this world as soon as I could. I cannot see how they are going to get out of this sparkie...............

[Sparkie1723]

Re: Swift Advances Plc?

Definition of deceit

(1889) 14 App Cas 337, [1886-90] All ER Rep 1.
House of Lords.
Lord Herschell.
The following statement is taken from Lord Herschell's speech:
"I think the authorities establish the following propositions: First, in order to sustain an action of deceit, there must be proof of fraud, and nothing short of that will suffice. Secondly, fraud is proved when it is shown that a false representation has been made (i) knowingly, or (ii) without belief in its truth, or (iii) recklessly, careless whether it be true or false. Although I have treated the second and third as distinct cases, I think the third is but an instance of the second, for one who makes a statement can have no real belief in the truth of what he states. To prevent a false statement being fraudulent, there must, I think, always be an honest belief in its truth. And this probably covers the whole ground, for one who knowingly alleges that which is false obviously has no such belief. Thirdly, if fraud be proved, the motive of the person guilty of it is immaterial. It matters not that there was no intention to cheat or injure the person to whom the statement was made."


Mr White is the Risk Manager of Swift Advances plc there is no-one in that whole organisation that would know more about if or not that this commission now discovered to the sum of £1408 plus was paid,………… and yet he said under oath it was not paid.
He knew full well at the time this was paid, in other words he lied under oath


Mr Webster went a stage further and later contradicted what Mr White said…….Dear Mr “Sparkie” “ It is true that Swift pay commission from time to time, but not on your particular agreement”


I know by the way they have worded that letter to me is that they are trying AGAIN to say that this payment was part of a "block payment" from which this sum was calculated to be paid from..for the month of April

The problem they have with this is as I have said .......ours was the ONLY loan Promise did with Swift Advances plc that month.

I would think they are in a little trouble with this argument and should give it up and try again.........but the bar has just got higher for them.

Sparkie

Sparkie

[jumper999]

Re: Swift Advances Plc?

Hi sparkie so you are now sure that commission was paid? I know that Blemain paid Ocean a commission after requesting this info such a long time they finally admitted they did but Ocean said in their phone call data log and sent me a CD recording that they were to receive a % of the loan as commission. My voice shows that I said ok...........the amount of the commission was not stated so I cannot use that as a big argument in my case.

However on Ocean's call log there is reference made that Ocean recieved more commission...3.4% & 5.6%. That I believe is extra payments that Blemain paid to Ocean..................but time is short and I wanted to know how I could find out how much these were? I was never sent the Underwriting Sheet I just found it in the data request they sent me.

If I could prove Blemain did pay more than they admit that would be more powerful.

[Sparkie1723]

Re: Swift Advances Plc?

As always thanks sparkie,...when I took the loan I did send them a copy of my insurance and as most people I have always had insurance for my home.

Yes I think your right I will send them a copy but it does not have Blemain noted on there. The agreement states that that Blemain should be noted on the agreement but when I sent them my copy initially in 2007 they did not reply or insist that I put their name on it.

Yet four years down the line they are requesting it? well, they can look at as many breaches as they can because at the end of the day they will nothing compared to what they have done. Why didn't they kick up a fuss before? Each year they should have requested a copy to see if I noted them on my insurance...

Another thing is that you know they have put title insurance on the agreement so they have taken steps to protect themselves as it is. They also add interest on top of the title insurance and make a packet on it too.

THe title insurance only covers any issue with the deed title ...don't confuse this with buidings insurance ...it has nothing to do with that.

regards

Sparki

[jumper999]

Re: Swift Advances Plc?

They are trying to find other ways to attack you their agreement says you must keep the Building insured ...........if you don't you breach their agreement.....and they will have another breach ...........the more breaches they can find.......... it helps them if its only arrears then that is not so easy for them, they are digging for dirt, ...............send them a copy and shut them up

Chin up


Sparkie

As always thanks sparkie,...when I took the loan I did send them a copy of my insurance and as most people I have always had insurance for my home.

Yes I think your right I will send them a copy but it does not have Blemain noted on there. The agreement states that that Blemain should be noted on the agreement but when I sent them my copy initially in 2007 they did not reply or insist that I put their name on it.

Yet four years down the line they are requesting it? well, they can look at as many breaches as they can because at the end of the day they will nothing compared to what they have done. Why didn't they kick up a fuss before? Each year they should have requested a copy to see if I noted them on my insurance...

Another thing is that you know they have put title insurance on the agreement so they have taken steps to protect themselves as it is. They also add interest on top of the title insurance and make a packet on it too.

[Sparkie1723]

Re: Swift Advances Plc?

I'd like to remind everyone of this taken from the Hustanger case......especially the "SWIFT" readers.......bearing in mind both Mr Mark Whites denial under oath .....and Mr John Websters statement. .........For nearly 3 years this payment has been denied..................not onlly this but both "Swift Advances plc and the Broker have gone to great lengths to conceal this payment......the court must consider this as perverting the course of natural justice IMO, ....but as I say I'm just a dumb old retired auto spark, .....who the barristers representing "Swift" have always persuaded the Judges that I have misconceptions of the law..........may be I have but I can't be wrong on everyone ..or can I???

“Obviously if there has been no disclosure the agent will have received a secret commission. This is a blatant breach of fiduciary duty but additionally the payment or receipt of a secret commission is considered to be a form of bribe and is treated in the authorities as a special category of fraud in which it is unnecessary to prove motive, inducement or loss up to the amount of the bribe. The principal has alternative remedies against both the briber and the agent for the money had and received where he can recover the amount of the bribe or for the damages for fraud where he can recover the amount of any actual loss sustained by entering into the transaction in respect of which the bribe was given (Mahesan v Malaya’s Housing Society [1979] AC 374, 383). Furthermore the transaction is voidable at the election of the principal who can rescind it . . . (Panama & South Pacific Telegraph Co v India Rubber, Gutta Percher and Telegraph Co [1875] 9 Ch App 515, 527, 532-3).”


Sparkie

[Sparkie1723]

Re: Swift Advances Plc?

Hi sparkie with all the info you are giving these authorities it does make me think that they should have taken action ALONG time ago. You are practically doing what they should have been doing and done.

They write all these rules and regulations and when they are breached or broken and you supply them with all the evidence and proof of this in black and white they still take so long to get their asses in to gear. Well at least we are strating to see some progress, slow mat=y it be but nevertheless the ball has started to roll and all thanks to you and your hard work.

You have a lot of support behind you and I believe what you are doing is out of this world.

Yesterday I received a letter from Blemain requesting I send them a copy of my buildings and contents insurance and that their name should be on there. This is the first time they have requested this information and I do not see why I need to send them this and will not.

I mean its been nearly 4 years since I tok the loan out so why ask now? Blemain are very similar to swift and I think they know that slowly their skeletons are coming out of the closet too.

They are trying to find other ways to attack you their agreement says you must keep the Building insured ...........if you don't you breach their agreement.....and they will have another breach ...........the more breaches they can find.......... it helps them if its only arrears then that is not so easy for them, they are digging for dirt, ...............send them a copy and shut them up

Chin up


Sparkie

[jumper999]

Re: Swift Advances Plc?

Hi sparkie with all the info you are giving these authorities it does make me think that they should have taken action ALONG time ago. You are practically doing what they should have been doing and done.

They write all these rules and regulations and when they are breached or broken and you supply them with all the evidence and proof of this in black and white they still take so long to get their asses in to gear. Well at least we are strating to see some progress, slow mat=y it be but nevertheless the ball has started to roll and all thanks to you and your hard work.

You have a lot of support behind you and I believe what you are doing is out of this world.

Yesterday I received a letter from Blemain requesting I send them a copy of my buildings and contents insurance and that their name should be on there. This is the first time they have requested this information and I do not see why I need to send them this and will not.

I mean its been nearly 4 years since I tok the loan out so why ask now? Blemain are very similar to swift and I think they know that slowly their skeletons are coming out of the closet too.