Nat west business loan - cant find agreement

[Streetwise]

Re: Nat west business loan - cant find agreement

i can see a miracle happening if this drags out to 2921 and the loan is not repaid?

The documentation will appear from the banks archives this cannot be the only paperwork for a large secured loan that's missing???? at the moment

I think the O.P. said 2021,possibly the bank could reconstruct an agreement.

If the new S.A.R. returns with the wording we do not have the loan agreement,then that is that they won't have it.

Still awaiting a reply from Andy58.

From reading around the bank seems to have lost a lot of agreements, PANDORAS BOX is about to be opened.

[wales01man]

Re: Nat west business loan - cant find agreement

i can see a miracle happening if this drags out to 2921 and the loan is not repaid?

The documentation will appear from the banks archives this cannot be the only paperwork for a large secured loan that's missing???? at the moment

[Streetwise]

Re: Nat west business loan - cant find agreement

This is not a regulated agreement.
You cannot play the prescribed terms game here, attempting to frustrate the court will result in costs being awarded when the judgment is eventually passed down.

The bank will know full well how much is owed, the issue here is if they have terminated the original agreement and if so are they willing to enter into a new one, in order to repay the balance.

It would be far better for the OP to keep this out of the court room altogether.

The bank has already told the O.P. that it is not willing to negotiate and has threatened legal action 2 years ago,this matter is affecting the O.P. health this cannot be allowed to drag on forever,what do you suggest that they do.

Re: Nat west business loan - cant find agreement

Yes, you are correct in saying it will be recorded in the mortgage deed and the charge on the property but it won't show the terms and conditions contained in the actual agreement only the actual mortgage charge deeds signed by the borrower to secure the charge. If they kept a copy of the original agreement then the bank would have requested a copy and passed it to the customer when the OP requested it.

That will show that there was an agreement between the two parties but will not prove how long the agreement was for, for how much, what the interest rates were, etc.

The borrower could technically sit down with a pen and paper, work out how much they want to pay per month between now and the end of the term of the original loan, 2021, and argue that the figures are what they believed they still owed on the loan yet they are vastly different to the lenders and contested as strongly.

How does the lender prove the borrowers figures are wrong and theirs are correct if they do not have the original agreement to support their figures?

If the lender keeps hesitating to issue repossession proceedings it could indicate that they too know they cannot produce the evidence they would need to secure a judgement in their favour or they would have produced it when the OP requested it.

The bank replied they didn't have a copy of it, and if they did, he could have had a copy for free.

They just cannot prove an exact amount of what is owed and you cannot just say to a judge, "they probably owe us about £xxxxxxx", the judge would tell them to come back when they can produce an exact amount which again, the customer could always dispute it's accuracy until such time as the lender produces the original loan agreement to verify their figures.

Would be a very long adjournment!

World record!!!!!:tinysmile_twink_t2:

This is not a regulated agreement.
You cannot play the prescribed terms game here, attempting to frustrate the court will result in costs being awarded when the judgment is eventually passed down.

The bank will know full well how much is owed, the issue here is if they have terminated the original agreement and if so are they willing to enter into a new one, in order to repay the balance.

It would be far better for the OP to keep this out of the court room altogether.

[IanM]

Re: Nat west business loan - cant find agreement

Off course they can it will be in the mortgage deeds.And in there charge on the property.

Yes, you are correct in saying it will be recorded in the mortgage deed and the charge on the property but it won't show the terms and conditions contained in the actual agreement only the actual mortgage charge deeds signed by the borrower to secure the charge. If they kept a copy of the original agreement then the bank would have requested a copy and passed it to the customer when the OP requested it.

That will show that there was an agreement between the two parties but will not prove how long the agreement was for, for how much, what the interest rates were, etc.

The borrower could technically sit down with a pen and paper, work out how much they want to pay per month between now and the end of the term of the original loan, 2021, and argue that the figures are what they believed they still owed on the loan yet they are vastly different to the lenders and contested as strongly.

How does the lender prove the borrowers figures are wrong and theirs are correct if they do not have the original agreement to support their figures?

If the lender keeps hesitating to issue repossession proceedings it could indicate that they too know they cannot produce the evidence they would need to secure a judgement in their favour or they would have produced it when the OP requested it.

The bank replied they didn't have a copy of it, and if they did, he could have had a copy for free.

They just cannot prove an exact amount of what is owed and you cannot just say to a judge, "they probably owe us about £xxxxxxx", the judge would tell them to come back when they can produce an exact amount which again, the customer could always dispute it's accuracy until such time as the lender produces the original loan agreement to verify their figures.

Would be a very long adjournment!

World record!!!!!:tinysmile_twink_t2:

[Streetwise]

Re: Nat west business loan - cant find agreement

I would not stop making the regular payments you have been making, and I've never suggested that in any of my posts, but I would reconsider paying them the extra to put the loan back in order until you have seen a solicitor.

The ombudsman saying that as the account was in arrears then the bank were well within their rights to ask for the loan to be repaid is correct but the bank also have an obligation to be fair and look at all other options before trying to repossess.

If the bank have refused to reach an agreement in repayments being made for the term of the loan and have said they want the full amount, have they issued repossession proceedings against you?, is there a pending court hearing?

Have they threatened to take you to court to repossess?

How do they know the term of the loan ends in 2021?, Can they prove it?

How do they know how much is officially outstanding to reach the payments they are demanding? Can they prove it?

Have they got a record of all your payments before the payment break?, OR do they only have a record of the payments you have made once you resumed payments after the payment break?

Think of it from their point of view and ask yourself, how can I prove to a judge this person owes me this much when I can't produce any evidence to support my claim in court, or any evidence that my figures are 100% correct in accordance with the terms of the original loan agreement?

Send a new SAR by recorded delivery and wait for their response.

Off course they can it will be in the mortgage deeds.And in there charge on the property.

[IanM]

Re: Nat west business loan - cant find agreement

No in fact the ombudsman actually said that as the account was in arrears then the bank were well within their rights to ask for the loan to be repaid!! I asked her to insist that it was allowed to run it course and she said she couldnt do that for the reasons above. I am beginning to think that I let them come to me and then try to negotiate, I do have funds, not to clear the loan but to put it back in order, I just think they have behaved so bullishly if that is a word and they need taking down a peg or two, Im just not going to make the difference though. Do you think they consider they have a small amount of difficulty in not having the agreement or not ?

I would not stop making the regular payments you have been making, and I've never suggested that in any of my posts, but I would reconsider paying them the extra to put the loan back in order until you have seen a solicitor.

The ombudsman saying that as the account was in arrears then the bank were well within their rights to ask for the loan to be repaid is correct but the bank also have an obligation to be fair and look at all other options before trying to repossess.

If the bank have refused to reach an agreement in repayments being made for the term of the loan and have said they want the full amount, have they issued repossession proceedings against you?, is there a pending court hearing?

Have they threatened to take you to court to repossess?

How do they know the term of the loan ends in 2021?, Can they prove it?

How do they know how much is officially outstanding to reach the payments they are demanding? Can they prove it?

Have they got a record of all your payments before the payment break?, OR do they only have a record of the payments you have made once you resumed payments after the payment break?

Think of it from their point of view and ask yourself, how can I prove to a judge this person owes me this much when I can't produce any evidence to support my claim in court, or any evidence that my figures are 100% correct in accordance with the terms of the original loan agreement?

Send a new SAR by recorded delivery and wait for their response.

[MissFM]

Re: Nat west business loan - cant find agreement

Stoppit!

Re: Nat west business loan - cant find agreement

Its funny how the legally educated who post at the begining can't be heard now.

Perhaps there are no legal issues to discuss until more is known, just guessing.

[Streetwise]

Re: Nat west business loan - cant find agreement

I'm getting the gist! But we digress...:focus:

Thanks:wub:

[MissFM]

Re: Nat west business loan - cant find agreement

I'm getting the gist! But we digress...:focus:

[Streetwise]

Re: Nat west business loan - cant find agreement

oooh sooo masterful

Do you know me.:tung:

[MissFM]

Re: Nat west business loan - cant find agreement

Moi?

[Streetwise]

Re: Nat west business loan - cant find agreement

oooh sooo masterful

Stop it .

[Streetwise]

Re: Nat west business loan - cant find agreement

Its funny how the legally educated who post at the begining can't be heard now.