Nat west business loan - cant find agreement

[Jackien]

Nat west can not provide me with a copy of my loan agreement, they want yo call in the loan. we are making monthly payments that they say will not clear the loan within. The timeframe that they think it should be cleared. Without the agreement how do we know how much we owe and by which date it should be repaid? Any help please?

[Jackien]

Re: Nat west business loan - cant find agreement

You need to get it from the bank.

I have spoken to the LR and they have a copy I can have. I don't think the bank have it, but I will ask . Thank you

[Jackien]

Re: Nat west business loan - cant find agreement

Is all a bit odd isn't it.

I have asked the ombudsman for the information that the bank have them and they have agreed to let me have it. Thought there may be some info that wasn't in the SAR . Could be useful

[Streetwise]

Re: Nat west business loan - cant find agreement

I have made this request from the LR

You need to get it from the bank.

[Jackien]

Re: Nat west business loan - cant find agreement

Hi they didn't supply it with my S.A.R. request,if you get it the legal charge we can check its validity, Law of Property ( Miscellaneous Provisions ) Act 1989.

I have made this request from the LR

[Jackien]

Re: Nat west business loan - cant find agreement

Hi amethyst I have posted letters requested is there anything stall you can help me with I am just about to write to the bank as they required a response within 14 days. I plan to ask them how they arrived at the 3k. a month payment and some evidence in support. I have requested mirtgage deed from land registry.
jackien

[Jackien]

Re: Nat west business loan - cant find agreement

ok on to it !

[Streetwise]

Re: Nat west business loan - cant find agreement

Hi they didn't supply it with my S.A.R. request,if you get it the legal charge we can check its validity, Law of Property ( Miscellaneous Provisions ) Act 1989.

[Jackien]

Re: Nat west business loan - cant find agreement

Its seperate from the agreement,you should have a copy but your bank should supply you with a copy if you ask,your going to have to get it some how the solicitor that acted for you at the time should hold a copy ( Archived ) small charge to recover.

Ok Thanks, should the bank have given it to me under the SAR request? I am hoping to hear Amethysts take at some point and will write a letter raising several points I think. How will we prove whether it is valid or not?

[Streetwise]

Re: Nat west business loan - cant find agreement

Ha well there's a thought, would the LR have a record of this or is it with the agreement do you think ?

Its seperate from the agreement,you should have a copy but your bank should supply you with a copy if you ask,your going to have to get it some how the solicitor that acted for you at the time should hold a copy ( Archived ) small charge to recover.

[Jackien]

Re: Nat west business loan - cant find agreement

Ha well there's a thought, would the LR have a record of this or is it with the agreement do you think ?

[Streetwise]

Re: Nat west business loan - cant find agreement

They have a legal charge on my land registry details

But is it executed validly.:beagle:

[Jackien]

Re: Nat west business loan - cant find agreement

They have a legal charge on my land registry details

[Streetwise]

Re: Nat west business loan - cant find agreement

The Sar has provided me with the statements that I have not received since 2009, I have actually received them twice !
Copies of some letters that I have been sent and recordings of a couple of phone calls but nothing very helpful and no agreement. The statements show that I owe 200k and the end date of the loan as they have pointed out is Feb 2021. I am currently paying the 700 per month and now they have asked me for just under 3k a month. I understood that my rate was 1.5% over base, by my calculations this is 331.00 pm interest only or nearly 2300 repayment. I dont know where they got the £3k figure from was going to write and ask. They have admitted that the agreement is lost.

The agreement is lost,now look at the LEGAL CHARGE.:beagle:

[Jackien]

Re: Nat west business loan - cant find agreement

Is all a bit odd isn't it.

From NW
25th April
We write with regards to the above matter
We have been advised that the Financial Ombudsman have now closed their case.
Whilst we note repayments of £700 are being made this amount is insufficient given the amount outstanding and the length of time the matter has already been with this department.
The Bank requires a minimum repayment of £2,968.30 per month.
Please contact me to discuss the matter and repayment of the accounts within the next 14 days.

YS