BlackHorse Secured Loan now with Skye Loans Limited

[R0b]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Sounds like a starting point, subject to any other suggestions. Your bank statements are personal information and I would be very wary of just handing over wage slips and statements of your income and outgoings. Others might disagree but its certainly not something I'd be willing to hand over - a budget sheet should be enough as long as you are honest on your incoming and outgoings. And a formal complaint too would be useful as well to put them on notice.

CONC 7.14 says that:

A firm must suspend any steps it takes or its agent takes in the recovery of a debt from a customer where the customer disputes the debt on valid grounds or what may be valid grounds.

[Bazza]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Sounds like a starting point, subject to any other suggestions. Your bank statements are personal information and I would be very wary of just handing over wage slips and statements of your income and outgoings. Others might disagree but its certainly not something I'd be willing to hand over - a budget sheet should be enough as long as you are honest on your incoming and outgoings. And a formal complaint too would be useful as well to put them on notice.

CONC 7.14 says that:

Thanks R0b for your help.

We will get something drafted up tomorrow plus budget sheet.

Is there an up-dated Account in Dispute letter template ?

Funny enough I mentioned CONC 7.14 in our original dispute letter :tinysmile_twink_t2:

[R0b]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Not sure if there is, if not, then I am sure one of us can assist.

If you have already raised 7.14 then they are already on notice and should suspend any further action, sounds like they have not though. FCA rules create an obligation which businesses must follow and failure to do so can lead to sanctions.

[Bazza]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Not sure if there is, if not, then I am sure one of us can assist.

If you have already raised 7.14 then they are already on notice and should suspend any further action, sounds like they have not though. FCA rules create an obligation which businesses must follow and failure to do so can lead to sanctions.

Ok and cheers again for your time R0b.

I will search on site for details and I will kindly remind them that the account is in dispute etc.

We will continue to pay monthly payments but it seems that they are adding further interest, so will get a SAR off to them today.

I will keep forum posted of any developments.

[Bazza]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Legal assignment = an assignment in accordance with section 136 of the Law of Property Act 1925. A legal assignment will transfer the benefit of the contract e.g. The right to receive payment from you but not the obligations under the contract. They must also notify you in writing that it has been assigned to the third party. A legal assignment is always subject to equities, meaning that if you have a defence or legal right against the original creditor prior to it being assigned then you are entitled to use that defence/right against the third party taking over.

Equitable assignment = once which does not need to be in writing, you do not have to be informed. The key difference is that usually the third party who has the agreement assigned cannot bring a claim in their own name and it must be the original creditor who assigned it and the third party joined as an interested party. The courts on occasions have allowed the third party to bring a claim in their own name but in exceptional circumstances e.g. The original creditor no longer around. Otherwise the reason for having the original creditor is to prevent further claims being made against you and to ensure that there has been a proper legal assignment if there is a dispute.

Novation = an agreement which must be in writing and signed that transfers both the rights and obligations under the contract to the third party. Novations don't usually happen because they require consent from both parties and can be complicated but it does happen quite a bit in software licence agreements.

Hi R0b,

Sorry to ask more questions again but I am currently drafting a formal complaint letter but would like to include as much as possible.

Regarding the above in which I have read and trying to understand, should I be asking Skye Loans Ltd for clarification ?

Also are Skye Loans Limited a debt collecting agency and not a loan company does anyone know ?

Thanks again for looking

[nemesis45]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Skye Loans appears to be a Capita Corporate company Capita holding the majority of share, a Mr Baldry appears to be the only other " director ".

The Company has an " F" Rated credit score.
What it does is it seems buying up loan portfolios, debts that are not delinquent but are likely to be at some point difficult to collect or enforce the BH debt are a good example.

nem

[Bazza]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Skye Loans appears to be a Capita Corporate company Capita holding the majority of share, a Mr Baldry appears to be the only other " director ".

The Company has an " F" Rated credit score.
What it does is it seems buying up loan portfolios, debts that are not delinquent but are likely to be at some point difficult to collect or enforce the BH debt are a good example.

nem

Ok thanks nem,

I was a bit confused by the Loans Limited bit.

Therefore they are some sort of DCA ?

And cannot even find a website for them.

[nemesis45]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Ok thanks nem,

I was a bit confused by the Loans Limited bit.

Therefore they are some sort of DCA ?

And cannot even find a website for them.

More a debt purchaser but it does appear from a bit of digging and the credit check " F " rating the industry does not see a lot of merit in their portfolio Baz.

nem

[Bazza]

Re: BlackHorse Secured Loan now with Skye Loans Limited

More a debt purchaser but it does appear from a bit of digging and the credit check " F " rating the industry does not see a lot of merit in their portfolio Baz.

nem

OK thanks nem.

Sorry to sound ignorant but what is meant by "F" rating ?

I am just a bit concerned about this lot, as their attitude is quite offish and recently threatening. Suggesting to my OH to sell our house to pay-off arrears !

[nemesis45]

Re: BlackHorse Secured Loan now with Skye Loans Limited

OK thanks nem.

Sorry to sound ignorant but what is meant by "F" rating ?

I am just a bit concerned about this lot, as their attitude is quite offish and recently threatening. Suggesting to my OH to sell our house to pay-off arrears !

Poor commercial credit score.

nem

[Bazza]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Poor commercial credit score.

nem

Oh ok and thanks again nem

[Bazza]

Re: BlackHorse Secured Loan now with Skye Loans Limited

I would suggest very strongly that you seek real legal advice on this as it appears to me that a "legal" assignment has not and cannot have taken place ...............and that " Novatiion" should have/has taken place.

Look up the differences between Equitable Assignments..................Legal Assignments....... and Novation of contracts/agreements.
I do not suggest I am an expert of any description on this .........but suggest you get a legal opinion on what Black Horse has done.

Sparkie

Nem or anyone else,

Should I be asking Skye to confirm any of the above ? If so should they also provide a proof of any contract ?

We only ever received a letter advising that our mortgage / Secured Loan had been transferred.

Should there be something in any terms & conditions stating that loan can be transferred to another party ?

[Debt Camel]

Re: BlackHorse Secured Loan now with Skye Loans Limited

I am not a lawyer but I spend most of my previous working life in an environment where novation was the norm... this doesn't look like novation to me. I am baffled by why @sparkie1973 thinks it is. That doesn't mean that the assignment has been properly carried out, but it does mean that novation is entirely irrelevant and a red herring for you to be researching.

We see that Skye are regulated by the FCA.

Are they? I can't find them on the FCA register? What is their FCA number?

Capital Mortgage Services Ltd are FCA registered, but they do not own this loan as far as i can see. They are servicing it on behalf of Skye. Skye is not a brand name of Capita.

Have you had the statement of account you have requested? If you haven't, I suggest putting in a formal complaint to Capita : jane.manning@cmm-group.com

[Bazza]

Re: BlackHorse Secured Loan now with Skye Loans Limited

I am not a lawyer but I spend most of my previous working life in an environment where novation was the norm... this doesn't look like novation to me. I am baffled by why @sparkie1973 thinks it is. That doesn't mean that the assignment has been properly carried out, but it does mean that novation is entirely irrelevant and a red herring for you to be researching.


Are they? I can't find them on the FCA register? What is their FCA number?

Capital Mortgage Services Ltd are FCA registered, but they do not own this loan as far as i can see. They are servicing it on behalf of Skye. Skye is not a brand name of Capita.

Have you had the statement of account you have requested? If you haven't, I suggest putting in a formal complaint to Capita : jane.manning@cmm-group.com

Many Thanks Debt Camel.

So previously attached agreement is all above board. No T & C's (overleaf) were provided.

Only received a letter from Skye in June 2015 advising that they have taken the secured loan from BH. Cannot find anything stating that this can be done even amongst the copy of Standard Mortgage Loan Terms 2000 Edition booklet provided.

Sky Loans Limited registered no.9345937. Does say that this mortgage / secured loan is being serviced by Capita Mortgage Services Limited authorised and regulated by the Financial Conduct Authority (306235).

So therefore is the loan / mortgage not regulated ?

Sorry for daft questions but I want to be clear before responding.

As for statement of account, Skye have only forwarded theirs showing no missed payments but have included an arrears opening balance from BlackHorse. We did receive a rolling statement (2001-2015) from BlackHorse part of a SAR. Would this be suffice to back-up requested arrears amount ?

Are we obliged to submit I & E details, including bank statements and pay-slips ?

Thank-you

[nemesis45]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Nem or anyone else,

Should I be asking Skye to confirm any of the above ? If so should they also provide a proof of any contract ?

We only ever received a letter advising that our mortgage / Secured Loan had been transferred.

Should there be something in any terms & conditions stating that loan can be transferred to another party ?

If the accounts were transferred that there should be a proper record of the transfer of " business " between entity A original owner and entity be the recipient of the transferred business,
An enquiry to companies house may help, not my field Baz but the companies div of the High Court may have been involved.

nem