BlackHorse Secured Loan now with Skye Loans Limited

[umvubu]

Re: BlackHorse Secured Loan now with Skye Loans Limited

I have been reading this with with interest i am in exactly the same boat, BH sold to Skye now charges through the roof. loan should have finished this year April.
now have 1.5 extra years even though we had 9 month payment break (redundancy 7 years ago) + charges + interest + additional Interest.
we made extra payments to BH and are paying £420 a month on a £310 loan that should have finished months ago. Now they say extra payments arn't clearing the
arrears!!

[Bazza]

Re: BlackHorse Secured Loan now with Skye Loans Limited

I have been reading this with with interest i am in exactly the same boat, BH sold to Skye now charges through the roof. loan should have finished this year April.
now have 1.5 extra years even though we had 9 month payment break (redundancy 7 years ago) + charges + interest + additional Interest.
we made extra payments to BH and are paying £420 a month on a £310 loan that should have finished months ago. Now they say extra payments arn't clearing the
arrears!!

Hi umvubu

Same here.

Had an agreement in place with BH to pay extra amount each month to enable loan to finish at term end. Even had BH rep at our house discussing it on the agreement that they would not charge us.

Skye now saying that they want more if we agree to the arrears in which we are disputing, and that any prior arrangement is void !

They continue to add interest and charge fees and are now pushing for possession of property over a disputed amount of £2,500.

Their introduction letter even states that T & C's remain the same, yet their fees / charges etc are more than BH ?

[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

Further to your prior comments it has now been confirmed as follows.

Skye are a completely new mortgage company, specifying in second charge mortgages. They quote that owning a mortgage book does not require regulation, so not required to be regulated ? However administrating a mortgage does require regulating and they have appointed Capita Mortgages Services Ltd (CMS) on their behalf. CMS are authorised by the FCA.

Does this sound correct, sorry to be so dumb but are Skye basically a debt purchasing company and can they do business with a regulated company if not regulated ?

I cannot find any website for Skye and need to e-mail them urgently. Shall I send to the capita address above ?

Thanks

[stoddy2k01]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Hello everyone.
Thanks for the welcome message.

I would just like to ask where we may stand regarding these Skye loans goons. Our story goes like this.

We took a secured loan out with BH in approx 2004 and we had ex number of £'ss per month let's say for example. 120 months @ £ 150 per month. We paid every month to BH right up until the loan was passed over to Skye Loans. We got PPi back from BH before the loan transferred to Skye loans BH sent us a letter saying the loan was going to Skye ( Nothing needs to be done as all terms and conditions won't change.

Today we we receieved a letter from Skye loans which basically said. Your mortgage payments will not clear your loan by the date it is due to end. So your monthly payments will be going up from £150 per month to £156 per month to clear the loan by the end date.

So I stomped around like rumplestiltskin absolutely seething as anyone would as this loan was a fixed rate loan for as I say 120 months.

This loan is in my wife's name so when I called she had to speak. As she's not the best at challenging situations I got to speak to them.

They basically said that when we took the loan out with BH in October 2004 and the payments did not start until 01/01/2005 so we are in arrears for the two months when we did not pay?

when the loan was granted they said here's ya cash and you don't have to start paying for two months.

So it seems they have kept quiet about it until now where the loan is near its end and the Skye loan group have now sprung this on us.

does anyone know where we would stand as the payments are going up next month and as I say it was a fixed loan. We feel like we're being taken for the mug.

I understand and evrything but feel this was withheld information and how the hell can they do this obviously with it being a secured loan on our home not sure what to do.

We are in a position to pay the remainder of the loan off after a settlement figure but due to this letter I'm wondering if the so called arrears interest may amount to something and as we got about 3 annual statements from BH before the move to Skye loans. The loan end date may have been changed by them.

Could anyone please advise us on what to do.

kind regards
stoddy.

[Stevep1]

Re: BlackHorse Secured Loan now with Skye Loans Limited

I am having very similar problems with Skye Loans .My circumstances were not dissimilar to yours.
I had become a Carer in 2013 for my Father and had negotiated with BH to pay a figure on which no interest was charged that ran up to Jan 2015 .When I went to try to renew this deal there was no confirmation ,only an unsaid implication that the account was about to be sold.
When Skye took over I called them and explained the situation ,did an I & E and agreed to pay the same figure.I asked if it could be interest free but was told no.Since then and my Father passing away I have come into some money and went to them with a settlement figure of approximately 75 % of the arrears.
They turned me down flat and when I asked for them to come up with an alternative they just quoted the full amount . I then said that I wanted a plan to pay the outstanding amount, they basically refused stating that as I hadn't paid anything since April (there genuine reasons which I explained) they suggested I would not be able to keep up with payments and thus whilst it was not said , it was implied that legal recourse was their preferred option.In addition they also said that all legal costs would be added to my bill.

I am in the process of seeking legal advice ,but reading the comments on here ,it has only re-enforced my opinion that they are a bunch of 'Fly By Nights' out for a quick buck .
Has anyone actually won their case here ?or at least gotten them to move from their original positions ?

[stoddy2k01]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Hi there stevep when you and your father agreed the interest free payments with BH was it for a certain length of time or until the loan was cleared. I told Skye I want to make a formal complaint as the agreement. I set up with BH has nothing to do with them and they are only managing the loan not changing it or controlling it. I got a response from BH stating they will leave it as agreed and will inform SKye loans to do the same. Skye are a bunch of idiots. They treat your loan as a debt and you do feel degraded somewhat.

Sorry for your loss by the way. Please don't think I'm being disrespectful about your situation. But with the recent passing of your father and if the loan or whatever you had in place was in his name. Then they cannot take you for it and let's say for example if your father passed without any savings or anything. Then surely if you was to inform them of your loss and with him having no savings etc then they would have to end the loan. As I say if it was in his name. I'd look into it. I think you may have to show death certificates and his bank statement basically showing his balance of little to nothing that would be it. We had that issue with my father in law he passed away. Owing ex number of pounds. We sent proof he'd passed away and a bank statement stating little to no balance. We also spoke to people he owed and told them he had other debtors wanting payments. But we just told them well he ain't got a carrot so god knows what your gonna do. And as I say because all these debts were in his name there was nothing they could do but close the case. But if he had a property or other form of collateral they would most probably want paying upon the sale of the property or whatever he may have had.

After reading your comments again i noticed you offered payment.

When we asked for a settlement figure they sent it and it stated that we should pay x number of pounds and we are not going to get a reduction for paying it off early as within our agreement because our loan was a secured loan they did not have to offer a reduction in payment. But with my original BH agreement it clearly states we would get to pay it early with a reduction in interest.

After speaking to someone with a brain and totalling up the amount we actually owed if we was to pay it off the total was something like £4300 but when they send the settlement letter to you it says you can pay early for the amount of £4300 then you think well what about the reduction for early completion. Well these goons at Skye failed to inform us that the amount we owed was
£4300 without any interest added. So we assumed there was no early settlement benefit.
All the best

[Stevep1]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Hi there stevep when you and your father agreed the interest free payments with BH was it for a certain length of time or until the loan was cleared. I told Skye I want to make a formal complaint as the agreement. I set up with BH has nothing to do with them and they are only managing the loan not changing it or controlling it. I got a response from BH stating they will leave it as agreed and will inform SKye loans to do the same. Skye are a bunch of idiots. They treat your loan as a debt and you do feel degraded somewhat.

Sorry for your loss by the way. Please don't think I'm being disrespectful about your situation. But with the recent passing of your father and if the loan or whatever you had in place was in his name. Then they cannot take you for it and let's say for example if your father passed without any savings or anything. Then surely if you was to inform them of your loss and with him having no savings etc then they would have to end the loan. As I say if it was in his name. I'd look into it. I think you may have to show death certificates and his bank statement basically showing his balance of little to nothing that would be it. We had that issue with my father in law he passed away. Owing ex number of pounds. We sent proof he'd passed away and a bank statement stating little to no balance. We also spoke to people he owed and told them he had other debtors wanting payments. But we just told them well he ain't got a carrot so god knows what your gonna do. And as I say because all these debts were in his name there was nothing they could do but close the case. But if he had a property or other form of collateral they would most probably want paying upon the sale of the property or whatever he may have had.

All the best.

Thanks for your reply Stoddy.My fault I did not make it clear the loan is in my name.I had made the arrangement because I was a Full time Carer and was done on the basis that on my Fathers passing I would inherit enough to pay off the loan.
Unfortunately it did not quite work out that way as my Father had taken out an Equity release on his property and we ended up having to pay nearly half the value of the property back to his lender, but that is another story.
I have explained this and offered a sum to clear the arrears.
What I find most galling is their complete inability to engage and their veiled threats as to the consequences of not paying them in full.I am just tired of these Companies preying on the misfortune of others .When I took this loan out my circumstances were completely different but things change .The fact that these companies hide behind the grey areas in the law ,means that they treat any problems you may have with impunity and see any circumstances as a reason to exploit rather than help.
They are a bane on modern society.M
My circumstances as to how the loan was transferred has been the same as everyones it seems ,my question was really based on whether anyone has successfully challenged them on any of the rather dubious procedures during the process .
This is a matter of principle to me and I am not going to let it go until I have explored all my options.

[stoddy2k01]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Hi your right as I say when I called them they spoke as though they were some debt collector. Very smug and bossy. Which annoyed me as I was moved to them from BH without choice or even without any default in payments. But to answer your question. I did challenge them and they referred back to BH and BH did not put the loan price up they agreed to leave it at the original monthly payment.

If BH agreed with you to leave your payments as they were for the term of your loan then Scumbag Skye would not be able to change your agreement you set up with BH.

I'd get in touch with Skye and tell them. You at Skye are changing the agreement which you have in place with BH therefore I want to make a complaint. They have to inform BH about your complaint they will write to you from Skye. And BH will write to you too. Once BH contact you. You will be able to speak to a BH representative then and hopefully find a solution.

My loan was secured on my home not sure where you are with yours but if it's not secured on your home. I'd make an offer that suited me and tell them to get stuffed. I've had £40000 worth of debt and I now owe nothing. Still broke thought 😀 But finally debt free. Not sure where you are with knowledge on debt etc. But don't worry about it nobody gets sent to prison for being in debt. And if you were to make an offer that suited you but not them. It's tough titty they cannot refuse a payment offer. Whatever the amount if they say we want £50 per month and you can only afford £15 then offer £15. At the end of the day it's in their best interest to get your account closed asap. Do not pay more than you can afford. Fill in another I E and make sure you put everything on it big gas and elec payments coal bill medication bill crank it up. No Point being in debt and paying it off broke. Pay low stay high.

Good luck.

Let us know how you get on.

[stoddy2k01]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Hi your right as I say when I called them they spoke as though they were some debt collector. Very smug and bossy. Which annoyed me as I was moved to them from BH without choice or even without any default in payments. But to answer your question. I did challenge them and they referred back to BH and BH did not put the loan price up they agreed to leave it at the original monthly payment.

If BH agreed with you to leave your payments as they were for the term of your loan then Scumbag Skye would not be able to change your agreement you set up with BH.

I'd get in touch with Skye and tell them. You at Skye are changing the agreement which you have in place with BH therefore I want to make a complaint. They have to inform BH about your complaint they will write to you from Skye. And BH will write to you too. Once BH contact you. You will be able to speak to a BH representative then and hopefully find a solution.

My loan was secured on my home not sure where you are with yours but if it's not secured on your home. I'd make an offer that suited me and tell them to get stuffed. I've had £40000 worth of debt and I now owe nothing. Still broke thought 😀 But finally debt free. Not sure where you are with knowledge on debt etc. But don't worry about it nobody gets sent to prison for being in debt. And if you were to make an offer that suited you but not them. It's tough titty they cannot refuse a payment offer. Whatever the amount if they say we want £50 per month and you can only afford £15 then offer £15. At the end of the day it's in their best interest to get your account closed asap. Do not pay more than you can afford. Fill in another I E and make sure you put everything on it big gas and elec payments coal bill medication bill crank it up. No Point being in debt and paying it off broke. Pay low stay high.
This website is an IVA Forum. These guys give good advice. This lady Lisa Thomas is very good at dishing out advice too http://www.iva.co.uk/forum/pop_profi...splay&id=31774
Good luck.

Let us know how you get on.

Please bare in mind I'm only giving advice and not a solution.

[Stevep1]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Thanks .Mine is secured on my property as well.Sorry to ask but did you make an offer to them ?I did and it was very reasonable ,they turned ot down.Did you end up having to pay the full amount ?
Thank you for your advice btw

[stoddy2k01]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Hi. Yes we paid ours off. It was more beneficial to us. We had 27 payments left and it came to £4000 without interest. If we had kept the payments to a monthly thing like we had we would have paid back short of £6,500. So if you have say 20 payments of £100 you would have to pay the remainder of your loan which would be £2000. Plus an admin fee for solicitor to clear them from your mortgage. So when they send you a settlement figure the amount will be the remainder of the amount you borrowed.
May I say if you you say for example if you owed. £5000 on a £10,000 loan and you offered £3500 to clear it. They would not accept it. Another example if I lent you £500 and you said I'll give you £300 I'd say no thanks I'll want the £500 but if you paid the £500 back early I'll let you off with the interest. Does that make sense. If you ask them for a settlement figure they have to send it within 7 days once it arrives the amount will show how much you owe which will be the remainder of the loan amount you borrowed with around £150 on top of that. Which they will charge you for getting a solicitor to act on there behalf to remove their interest in your property. Make sure that if BH agreed to stop the interest for 12 months or whatever it was. Make sure you and BH agreed it was going to be removed and not agreed with you to be put back on at a later date. Once you were in a position to make the original payments again. If it was agreed to be scrubbed then all you should owe is the let's say another 20 payments so add that up and you'll have a rough idea of what you will have to pay to settle your loan. I hope you get it sorted. Call Skye and tell them you want to complain about your claim with BH and they will get in touch with BH then BH will contact you. Once BH get in touch with you with a solution. You will be able to call BH and discuss your query with BH and then tell them what your complaint. Hopefully they will sort it out for you. BH agreed with us and kept the payments as they originally were. But albeit we've paid it off.

Just one more thing. Did you have any PPI On the loan if your not sure make some enquires you never know.

We had PPI On ours and got £5000 back from it.

All the best.

[Stevep1]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Thanks again Stoddy .I did have PPI and got that back pretty quickly via the FO .I have sought some legal advice on this and it is pretty certain that they are not going to bend on this but the principle is to keep trying as they are just a bunch of shysters. It makes my blood boil to be honest.They behave in a way no reputable lender would ,oblivious to circumstances and predatory to the point of criminal. A sad reflection of modern society I am afraid.

[Bazza]

Re: BlackHorse Secured Loan now with Skye Loans Limited

Things have progressed in our case and must admit Skye have been an absolute nightmare to deal with. We found their attitude and understanding absolutely appalling and bullying very upsetting at times.

We eventually received all available details from BH and Skye Loans Limited in respect of our Subject Access Requests.

There was no evidence regarding the arrears opening balance stated on Skye's opening statement of account when transferred in May / June 2015.

Amongst other issues including the said arrears we previously submitted a complaint to Skye in which a final response was submitted. All was answered but not in great detail but no evidence of the arrears amount figure. Skye advised that they would liaise with BH and revert.

After various chasers for details, 6 months had passed so therefore too late to refer to FOS.

As per my earlier posts we then harassed and threatened with litigation if arrears were not paid even though we had continued making regular increased payments as agreed previously with BH. Skye ignored this and requested a new I & E to be completed with bank statements and pay-slips before considering any payment plan going forward.

We refused to submit personal details but would be happy to send another I & E only, in which was refused.

Skye refused to submit recordings and only submitted edited notepad details.

Anyway we submitted a detailed complaint to the Financial Ombudsman stating individual FCA regulations that applied to us and especially the issue regarding the conversation with my OH. We also mentioned the lack of evidence of the now increased arrears amount and no rebate of interest for early settlement as per agreement.

We have now received a response from the Financial Ombudsman Investigator not up-holding our complaint on the basis that we were treated fairly by Skye and as we had already complained about the arrears and six months had passed, that they could not investigate further. It seems that our individual points have not been addressed or investigated properly and they have sided with Skye.

FOS did eventually obtain recordings and sent them to us only a week before they wanted our decision to refer to the ombudsman. We had been requesting details for quite sometime yet Skye refused to submit them. It was quite upsetting for me to listen to it and not pleasant hearing. The bullying tac-tics were disgraceful and they acted more like a debt purchaser.

We stated that the amount was different than previous but FOS still refused to look at. They did ask Skye if it could be reconsidered but they also refused. We also stated that our second complaint included the different arrears amount evidence request and Skye in their final response gave us six months to refer to FOS if not happy.

Amongst our SAR details, we did establish 2 months missed payments with Skye in which we promptly paid (lent money from family). Therefore the arrears amount had now decreased to the original opening arrears balance. FOS have now suggested that we submit a further complaint against BH in which we have.

We have never received any notice of arrears from BH for the amount in question. Amongst the SAR details from BH we found an account statement for a completely different amount before transfer (about approx £700) and no missed payments during transfer. We stated our concerns to FOS investigator as to what would happen if no evidence provided by BH and where do we legally stand?

We have never refused to pay if arrears breakdown / evidence can be provided.

Skye are also continuing to add arrears management fees to our account even though the current disputed arrears is supposedly BH issue and not theirs in which we find a bit of a cheek. FOS basically said they can and that any previously refunded amounts could still be added once investigation completed. Is this correct ?

Litigation has now been stopped for now due to the fact of our now new increased payments have continued for last 3 months. What again concerns us is that the reduced disputed arrears (2 missed payments now paid) has not been taken into consideration. Therefore the agreed monthly amount has not been reduced.

We have evidence amongst Subject Access Request details from Skye highlighting that they were pushing for as much as they could get out of us monthly and not that was required and affordable.

Sorry for long post but I just thought that I would up-date anyone who is in a similar situation and what a horrible lot these are to deal with. It has all been very distressing and upsetting for me and my family.

Any further thoughts on the matter would be appreciated.

Thank-you

[Rosalina]

Re: BlackHorse Secured Loan now with Skye Loans Limited



Thanks again nem.

I will request further details from both parties for clarity.

Bazza

Did you ever get this sorted as We have a secured loan with Skye Loans and they are asking for income and expenditure details aswell as bank statements etc because they want more money to clear so called arrears on our account,

[Rosalina]

Re: BlackHorse Secured Loan now with Skye Loans Limited



Further to your prior comments it has now been confirmed as follows.

Skye are a completely new mortgage company, specifying in second charge mortgages. They quote that owning a mortgage book does not require regulation, so not required to be regulated ? However administrating a mortgage does require regulating and they have appointed Capita Mortgages Services Ltd (CMS) on their behalf. CMS are authorised by the FCA.

Does this sound correct, sorry to be so dumb but are Skye basically a debt purchasing company and can they do business with a regulated company if not regulated ?

I cannot find any website for Skye and need to e-mail them urgently. Shall I send to the capita address above ?

Thanks

Im in the same boat had loan transferred from BH in 2015