Repossesion 8th April 2014

[GlobalC]

Re: Repossesion 8th April 2014

a thoroughly great result and read, I have my fingers crossed for the future and good luck

[Peter pistoe]

Re: Repossesion 8th April 2014

Hello ppl, plan B hope your all well...
Update
Had a letter today from BIO which they have upheld my complaint, and a small apology for the inconvenience causes!
Long and short of it is I now have 'negative equity' pack to fill out and return within 10 days and they will consider my request. The sale paperwork is moving forwards (slowly) but seems there's no big rush as the process of approving negative equity sale is a minimum of 4 weeks anyway.
Also if I don't keep up payments untill the house is sold it may result in the 'sale' being jeopardised and the 'sale' falling through!! Why put that in? Because there is no sale in there eyes untill they approve it on my return of there NE pack?
The more I go over and read the letters the more my blood boils....
Also had a letter a week ago from them saying I'd been charged 295ish for TLT solicitors involvement in the reposesion warrant, right that's enough for now need a cuppa
You sincerely
Ggrrrrrrrrrr

Ps, I should be happy :/

[PlanB]

Re: Repossesion 8th April 2014

I'm not sure what a "negative equity pack" is to be honest. It sounds suspiciously like a document they want you to sign which says you will take full responsibility for any financial shortfall after the sale completes. Don't sign anything yet!

This is a joint mortgage right?

[SA Gold]

Re: Repossesion 8th April 2014

Excellent news! Well done!

[Peter pistoe]

Re: Repossesion 8th April 2014

Not Signing anything yet, need to understand what's going on here.
Yes it joint

[Peter pistoe]

Re: Repossesion 8th April 2014

The NE pack consists of income and expenditure forms, and a series of questions asking me on how I prepose to clear the shortfall.
confirm my address.
how much a month I propose to pay.
Then at the end a declaration and consent to sign.
Etc etc

The whole things a joke right?
Basically it turns out contrary to what I was being told in the 2 weeks up to repossession date 8th April
i.e...."to late in the day to proceed with my sale and there's nothing I can do" !!
It turns out that actually they should of informed me that a NE PACK could be sent out if written confirmation of the offer from my estate agent was received, then they could of cancelled the possession order and my case reviewed. For this they offer an apologie for any convenience caused!!!!
I need to respond to all this somehow, as I'm not going to enter into an agreement on payments for the shortfall, based on I don't even know the outcome yet!
If I don't respond by the 5th they will close the case.

Grrrr

[PlanB]

Re: Repossesion 8th April 2014

Had a letter today from BIO which they have upheld my complaint, and a small apology for the inconvenience causes!
Long and short of it is I now have 'negative equity' pack to fill out and return within 10 days and they will consider my request.

I'm glad they've upheld your complaint (so I should think). Well done you

Was there any mention of compensation for the "inconvenience" they admit they've caused you They shouldn't block your sale while there is a conversation going on especially if you haven't accepted their complaint response yet (is that letter headed Final Response?). Remember if you're not happy with the lender's Final Response (i.e. they haven't offered you sufficient compensation ) you can then refer the complaint to the FOS which should stop them playing dirty in the meantime.

They've given you 10 days to reply to their "negative equity pack" so may I see the letter before you do? You can email it to me if you like. I think your strategy may be to go back with a question (any reasonable question) so that 10 days gets stretched to another 10 days and so on until your sale is ready to exchange/complete.

I'm working on the assumption you are still happy to go ahead with the sale not rent out the property instead.

[PlanB]

Re: Repossesion 8th April 2014

The NE pack consists of income and expenditure forms, and a series of questions asking me on how I prepose to clear the shortfall.
confirm my address.
how much a month I propose to pay.
Then at the end a declaration and consent to sign.

I think they're missing something here. The house and mortgage is in joint names. Why should you sign a declaration which says you alone will pay off the shortfall? This debt is owed by both mortgagees jointly and severally.

Not Signing anything yet, need to understand what's going on here. Yes it joint

I need time to think but I would be writing back to make this point to them. Don't do that until I've seen the letter in response to your complaint where it seems they've confessed to some procedural errors. If any of these occurred prior to them seeking that Eviction Warrant then they may have broken Pre-Action Protocol and that's not a joke.

[Peter pistoe]

Re: Repossesion 8th April 2014

Sorry didn't make that clear ...The letter is for me and the ex to sign.
No it's not headed final response.
The letter starts.... I confirm we have now completed our investigation into your account.

Things on the day when they called me to say they had cancelled the repo and they will be sending there survayor to the property the next week, that's still not happened?
Asked for written confirmation on the sale price,was sent that day but there still asking for it again now?
Working on response now, not happy!!
I gave up at one point, they almost had there grubby little hands on it and were horrible ppl to deal with once the repo date was set.
Sneaky little **** keeping that vital bit of info back👊 from me....

No plan b, just want it sold now, time to move on

[PlanB]

Re: Repossesion 8th April 2014

I've just got your email with the draft response you intend to send but may I see the lender's letter (reply to your complaint which they upheld) to you first before I can comment ?

[Peter pistoe]

Re: Repossesion 8th April 2014

Thanks PB, it's a start

[Peter pistoe]

Re: Repossesion 8th April 2014

Hi PB, just realized the 3rd letter is for the negative equity letter 😳
Ill mail the correct one over now

[PlanB]

Re: Repossesion 8th April 2014

Hi PB, just realized the 3rd letter is for the negative equity letter 
Ill mail the correct one over now

I've already peeped at what you've sent to me so far and I've formed an initial impression.

There are two things going on here.

One is your complaint to the lender which has been upheld by their own admission. It's not headed "Final Response" and gives you 14 days to say why you don't like what they said. Maybe because they admitted they made errors but failed to offer you compensation for those errors. That would be a good enough reason for you to reject their initial response and ask them to provide you with a Final Response which gives you the right to refer the matter to the FOS which has been supportive so far.

The second issue is the Negative Equity pack which I need to give more thought to. It's nothing ominous but you need to get this right. It won't matter if your partner willingly signs her form because it's meaningless until you sign too.

Give me time to think straight. You have time on your side since your lender has told you the whole thing will take at least four weeks to process

[Peter pistoe]

Re: Repossesion 8th April 2014

Cheers PB,
So my rambling letter needs to be short and sweet saying I don't except there apology and would like a final response?
The NE pack, I was going to ask for more time to complete and they will have to send a pack to my ex to fill out separately

[PlanB]

Re: Repossesion 8th April 2014

So my rambling letter needs to be short and sweet saying I don't except there apology and would like a final response?
The NE pack, I was going to ask for more time to complete and they will have to send a pack to my ex to fill out separately

I've got your emails and I'll reply tomorrow

I hope you mean that the lender didn't send your ex (joint mortgagee) the negative equity pack, because they can't agree/disagree without both of your signatures. While I'm sure you may get on well with your ex-partner now may not be the time to admit that.

They should know that they have to send her a separate negative equity pack and also advise both of you to take independent legal advice. Do they have your ex-partners current address? If not I see no reason for you to give it to them in a hurry