Drysden fairfax

[Manichouse]

Re: Drysden fairfax

Ok will do Wales01man & nemesis45 i believe it was through Halifax

Can I send the SAR off without his signature? I am working from home today and he is out until this evening

[Manichouse]

Re: Drysden fairfax

Right I've compiled the SAR request for Bank of Scotland, googled who I am supposed to send it to and yes they do charge £10 for it so I've asked for all information held on him.

So can someone tell me do I also send a copy of this SAR letter to Drysdens or do I just ignore them as they have given him 14 days to respond or else masroll:

Do I then assume after we have received all the info back I then try sending the CML letter just to try his luck??

[wales01man]

Re: Drysden fairfax

No need to send letter to Drydens unless you want to You can tell them this is in dispute they may refrain from further action.

[Kafka]

Re: Drysden fairfax

Right I've compiled the SAR request for Bank of Scotland, googled who I am supposed to send it to and yes they do charge £10 for it so I've asked for all information held on him.

So can someone tell me do I also send a copy of this SAR letter to Drysdens or do I just ignore them as they have given him 14 days to respond or else masroll:

Do I then assume after we have received all the info back I then try sending the CML letter just to try his luck??

Nothing to do with Drydens as SAR is a statutory right for you obtain such data from any organisation. Telling them may alert them to the fact that you are gathering data and that could actually trigger them to start a claim perhaps.

The SAR should carry his signature. In many cases people don't like giving that and use anti-tamper strips or line through the signature so it can't be scanned and used in fabricated agreements, but in your case its highly unlikely they won't have valid copies of the mortgage agreement.

I think the idea here is just to stall for time while the SAR is being processed, so get that letter off and lets see what they do.

[Manichouse]

Re: Drysden fairfax

Ah I better ring my post office then as I've done drysden 1st class registered telling them to cease any action for 60 days whilst getting sar!!

Just typed his name on that one.

Edit: managed to get said letter back from post office will hold onto it until necessary

[Manichouse]

Re: Drysden fairfax

Just an update. Have been speaking with the other half tonight regarding all this and had a quick look on zoopla too. Well interestingly enough it will appear I am going to have a good fight with this one. His original mortgage was for 82500 as he put down a 4k deposit. So brought it at 86500. Now I have just gone and checked drydens letter and they state it sold for 82500! Other half says he received a letter from BoS stating there was no shortfall as it effectively broke even. Hopefully the SAR will have the letter they originally sent. So where they have plucked 13k from is anyone's guess!

Also have read up that they are supposed to get the best price possible for it well when he brought it he spent a lot of money doing it up as it was in poor decor. Funnily enough a house exactly the same a few doors down sold a few months later for over 100k!!!

[FlamingParrot]

Re: Drysden fairfax

Hi Kafka

Thank you very much for your reply. I am somewhat confused as below is a direct quote from the Council of Mortgage Lenders website regarding the 6 year thing.

The action that your lender takes will depend on the circumstances. A lender may or may not wish to seek repayment of the shortfall debt, but if they do they must notify you within six years.

So would the above not apply being as it's 4 days short of 8 years when he first gets contact? With regards to obtaining an SAR I will try but his attitude is let them try and get something. He has no assets it's all mine and does not have much money as I am the breadwinner. It does annoy me the attitude he has but that's him and I can't change it!

To clarify, according to the Limitation Act, the period is 12 years for the capital and 6 years for the interest. Normally any interest would have been paid off from the sale so any shortfall is likely to be capital. However, the FCA’s Mortgages and Home Finance: Conduct of Business sourcebook (MCOB), says that a lender “must deal fairly with any customer who has a mortgage shortfall debt”. A lender does not have to recover a shortfall debt, but if they do, they must tell you in writing, within six years of the date your home was sold. If they don’t, you can complain to the Financial Ombudsman Service (FOS).
Source: https://www.nationaldebtline.org/EW/...s/Page-03.aspx

If the proceeds of sale are less than the amount due

A firm must ensure that, as soon as possible after the sale of a repossessed property, if the proceeds of sale are less than the amount due under the regulated mortgage contract or home purchase plan, the customer is informed in a durable medium of:
(1) the sale shortfall; and
(2) where relevant, the fact that the sale shortfall2may be pursued by another company (for example, a mortgage indemnity insurer).
(1) If the decision is made to recover the sale shortfall, the firm must ensure that the customer is notified of this intention.
(2) The notification referred to in (1) must take place within five years of the date of the sale (if the regulated mortgage contract or home purchase plan is subject to Scottish law) or within six years (in all other cases).

Source: http://fshandbook.info/FS/html/FCA/MCOB/13/6

Bear in mind that the MCOB only applies to lenders that are regulated by the FCA. :nerd:

It looks like you guys have a good argument here if there's been no contact for 8 years. :thumb:

It's a little different from the conventional limitation period because there can be contact between the lender and the debtor during the period, as long as there is no payment or written acknowledgment of the debt, i.e. the creditor can send you letters and you can reply disputing the account, etc. In this case the six years apply only if the lender made no attempt to contact the debtor during that period.

[wales01man]

Re: Drysden fairfax

As this is a joint mortgage does it matter if the other joint mortgage holder may have received notification within the 6 years?
We have a shortfall from a repo 5 years and 9 months ago my wife has in the past received letters demanding payment I never have.

[Manichouse]

Re: Drysden fairfax

Thanks FP for your clarification it really has helped and makes me believe he is in a strong position to argue this, albeit I'll be arguing on his behalf!

So I have sent the SAR for him to the Bank of Scotland. I believe BoS are regulated by the FCA but not sure how I should handle Drydensfairfax.

Shoud I send the 6 year time limit template to them and also put it down as being disputed? I don't want to get anything wrong which could make things worse for him.

Or is he a prime example of someone that should seek a solicitor???

[nemesis45]

Re: Drysden fairfax

As this is a joint mortgage does it matter if the other joint mortgage holder may have received notification within the 6 years?
We have a shortfall from a repo 5 years and 9 months ago my wife has in the past received letters demanding payment I never have.

The practice is to communicate with the first named person on a joint mortgage account.

If the first named person or the 2nd party is contacted it affects both parties as "relevant contact".

[Manichouse]

Re: Drysden fairfax

Thanks FP for your clarification it really has helped and makes me believe he is in a strong position to argue this, albeit I'll be arguing on his behalf!

So I have sent the SAR for him to the Bank of Scotland. I believe BoS are regulated by the FCA but not sure how I should handle Drydensfairfax.

Shoud I send the 6 year time limit template to them and also put it down as being disputed? I don't want to get anything wrong which could make things worse for him.

Or is he a prime example of someone that should seek a solicitor???

Can someone advise me on the above please mashappy:

[nemesis45]

Re: Drysden fairfax

DF is a firm of solicitors which has a core business of debt collection, they operate at present on a licence granted original by the OFT.(now) FCA to all solicitors for dealing with consumer credit debts.
Would suggest formally disputing the debt with DF, Do Not Acknowledge Any Liability For the Debt!!!
My feeling is that this shortfall is statute barred, there is in my opinion never any harm in sending a challenge upon the status of the debt, it is for DF & it's client to prove the debt is not Stat Barred.

Always refer to the alleged debt (never my debt/his debt etc.)

The way I would word this is:

I do not acknowledge any debt to DF or any company it may claim to represent.

I believe Sue Fairfax is now DF's CEO, address any correspondence to her marked Private & Confidential.
Having reviewed by credit history I believe that the alleged debt is statute barred.
I will therefore Not make any payment or offer of payment now or in the future.

This is not an acknowledgment of liability does not affect any part of the limitations situation, but it puts them on the back foot having to provide unequivocal proof that the alleged debt is Not SB.

[Manichouse]

Re: Drysden fairfax

Ok great stuff ill fire one off to them too

Thank you mashappy:

[nemesis45]

Re: Drysden fairfax

Ok great stuff ill fire one off to them too

Thank you mashappy:

Happy to help!! Just be careful of the wording!!

[FlamingParrot]

Re: Drysden fairfax

As this is a joint mortgage does it matter if the other joint mortgage holder may have received notification within the 6 years?
We have a shortfall from a repo 5 years and 9 months ago my wife has in the past received letters demanding payment I never have.

I would say that, being a joint mortgage, they could make contact with either party.