Shortfall Application declined Firstplus

[ajg36]

Hi

Just wondering if anyone else has had any dealings with Firstplus, I am currently going thru a Mortgage Rescue scheme as myself and husband have separated and i cant afford to stay in my property with my mortgage and 2nd charge.


As part of the shortfall application to Firstplus to which they declined as the shortfall would be too steep, they have manipulated the income and expenditures making it look affordable when it clearly isnt there is arrears on both the first charge and 2nd which clearly shows this.

They declined it based on the affordability, they also suggest that the 2 valuations given 1 being the MRS people and my first charge are too low and so in turn im now faced with being homesless. The annoying this is yes there will be a significant shortfall between the 2 charges and yes Firstplus stand to lose the most which i do understand however, the situation wont change and whatever i decide to do MRS, Private Sale or even repossesion they will stand to get nothing back but are standing in the way and refuse to overlook the decision.

Just wondering if anyone has had any experience like this with Firstplus and really can they change figures to suit themselves?

Any help or advice would be great

[labman]

Re: Shortfall Application declined Firstplus

I'm wondering what sort of IE you submitted to First Plus. They usually send their own one out for you to complete, but it is far better to get a qualified person to complete a Common Financial Statement with you. This carries the weight of the Money Advice Trust and is mentioned in a lot of guidelines from significant organisations like the OFT.

Your local CAB, Stepchange or Payplan should be able to help you with this, or something very similar - an no, they can't just change the figures to suit them, that would be a totally ridiculous scenario.

If they forced the sale as the primary lender, would they get their money then, or would they still be losing a significant sum?

[shell]

Re: Shortfall Application declined Firstplus

First Plus are a law unto themselves. They are known to change figures at will and to blatantly lie. Please make sure you get as much professional help as possible. They are not above forcing a repossession even when there is nothing to gain for them.

[ajg36]

Re: Shortfall Application declined Firstplus

First Plus are a law unto themselves. They are known to change figures at will and to blatantly lie. Please make sure you get as much professional help as possible. They are not above forcing a repossession even when there is nothing to gain for them.

Hi

thanks both for replying my financial statements were done by the charity Shelter, my ex husbands were done by himself however, they have omitted the loan repayment from both statements showing a plus figure at end of month which isnt right.

in no scenario would Firstplus stand to get anything and I know that isnt what they want but the situation isnt going to change, the shortfall will be around 75k, 50 of which will belong to FP.

I am now after having their decision and them not willing to reconsider even after people of authority writing to them going to have to go to the Ombudsman as I cannot stop the fight here especially with them being so underhand. They didnt even give me the decision intially in writing so have a feeling now they are going to change their reasons.