welcome finance and mortage indemnity fee question

[miliitant]

i thought i would post this for future reference

as we all know welcome slapped on any micky mouse insurance it could get away with on their agreements.

on their secured loans they regular as clockwork slapped on MORTAGE INDEMNITY FEE (MIF)

as we all know that is to protect the lender in case of any shortfall.

now under the judgement welcome v griffiths, welcome admitted in court that if the borrower had taken MIF, then welcome would never repo/FORCE SALE OF A PROPERTY or go for any shortfall when the property was sold

now that welcome has gone tits up and sold the accounts to mkdp,etc,etc, even by absolute assignment, i take it the new creditor will have to honour welcomes t&c and will not be able to force a house sale to satisfy a debt in a county court or a bankrupcy petition (statutory demand by a DCA)

comments people and this thread is just for my own education and i have nothing to do with welcome or cattles

[dogtired]

Re: welcome finance and mortage indemnity fee question

Thats basically what the CAB told me and that the alleged loan is "irretrievably unenforceable" because of this.
They got a firm called Incasso involved who, apparently, got as part of the "management" team person that used to work in the same role at Cattle's!
The last letter i got from them was in March.