Grounds for setting aside a charging order?

[Creamlily]

Re: Grounds for setting aside a charging order?

I've posted the particular of claim and guarantee on my thread for some help. Would you mind having a look at it for me?

many thanks

[Amethyst]

Re: Grounds for setting aside a charging order?

They tacked on the extra £20,000 from a personal bank account which during my negotiations with them prior to the court case, they had undertaken to write off.

Do you have that in writing ?

They also added in to their claim and request for a charging order a personal overdraft over just over £1,000 that, with the addition of charges and interest, has gown to just under £20,000.

I can't see that on the claim - theres 64k for the guarantee and £3.5k odd for the OD ?


Can we clear up whats what on that first.



a SAR is a subject access request under the data protection act - which would obtain all information relating to the personal guarantee although probably not the mortgage as that was in the business name.

The guarantee seems fine.

The house sale, you mention that it was sold (by the bank after possession??) for £125k less than the last offer you had received ? Any reason that offer wasn't accepted at the time or am I misreading ?

So there was a shortfall in the sale price to the mortgage and they are invoking the guarantee and claiming 50k from the guarantee plus interest and charges of £14k odd.

The charging order is on your home ? and you are continuing to make monthly installment payments (same rate as ordered at the redetermination?) alongside that ?

[Creamlily]

Re: Grounds for setting aside a charging order?

The sale on the house did not proceed because of a problem my buyer had. Her property was leasehold and her buyer's solicitor found a problem with her lease. her sale therefore collapsed and the chain with it. This was the third sale collapse in a row. All for different reasons and none of them anything to do with my (company's) house.

They did not repossess but got a repossession order and insisted on the sale and would, therefore, not agree to me renting it out and paying them monthly installments. The offers I was getting after the Northern Rock collapse were ridiculously low and did not cover the mortgage which had been wracking up interest at 2% over base for a considerable time as we tried to sell. I know that, contractually, they did not have to let me rent the house out but, if they had, that would have easily covered the interest and kept the mortgage low enough that the guarantee would never have had to be called in. However, they were also impossible to deal with in other ways. Because they would not engage with me at all I wrote to their, then, CEO - Gordon Pell. He passed me on the Philip Marsh who is their head of customer services for RBS. It was in a telephone call with him that he said that they would write of the advantage gold overdraft. Therefore not in writing.

I, too, did not understand the claim and how it was constructed. It is made up of the £50,000 personal guarantee, the overdraft - made up from £1,000(ish) to £20,000(ish) and costs.

I have no idea about the mortgage and how the charges on that have added to the amount. I know that the FCA have recently taken a view on how lenders add costs to mortgages when there is trouble repaying. Again, though, I imagine that would not cover a business - even though the business is just me.

I think I've answered all the questions?

Thanks a lot

[Amethyst]

Re: Grounds for setting aside a charging order?

Well the OD claimed for is £3719 - I'm not sure I understand where you are getting the 20k from.

The guarantee is £64000 so thats the £50k max agreed to plus interest/charges.

Have you sent a subject access request under the data protection act to the bank for the personal guarantee and overdraft ? That should get you details of how the amounts have been arrived at and if there is a defence available to you. If not I would suggest doing that asap (costs £10 but gets everything the bank hold on you as an individual).

It won't get you details of the business mortgage though.

[Creamlily]

Re: Grounds for setting aside a charging order?

I was assuming that a £50,000 personal guarantee is limited to £50,000. They have claimed just under £70,000. I thought, then, that the rest must be the overdraft. That's where the £20,000 comes from. They must, then have been adding interest to the personal guarantee. I will get an SAR off for that and see where I stand.

thanks very much.

[Amethyst]

Re: Grounds for setting aside a charging order?

It does state in the terms of the guarantee about interest

Provided that the amount recoverable under this deed shall not exceed the total of FIFTY THOUSAND POUNDS STERLING (50,000) together with interest on that sum since the date on which interest was last compounded in the books of the bank and interest on that total from the date of the demand and expenses.

also it is still accruing at compound rate following the judgment so I suspect it has shot up.

13.6 Interest will be calculated both before and after judgement on a daily basis and compounded according to agreement or in the absence of agreement monthly on such days as teh bank may select

[antjames]

Re: Grounds for setting aside a charging order?

Hi if the charging order has been based upon the incorrect value (due to PPI) do you think there is a case to set aside? I so much wanna hurt Nat West

[Guest]

Re: Grounds for setting aside a charging order?

Hi

Have Nat West agreed that the PPI was miss-sold or has there been a FOS determination ?

D