Lenders hidden trick of capitalised arrears
Chelsea Building Society repossessed 4 of my properties in 2009 illegally (*allegedly*), they capitalised/consolidated an amount of my arrears by 50% a few months later they took the properties on the basis that they could for the purpose of repossession still use the extinguished portion of the arrears to send me over two months.
The massive case that was won in Northern Ireland as been kept very quite, however the title known as (double billing) is illegal. I have been fighting this for 5 years and I have an MP involved and a Mortgage Expert, but the simple fact is once you have had arrears added to the contractual mortgage payment, from that point the arrears are GONE! end of.
I know you lovely people are still getting over the recent (Westbrom Ruling) but I promise every single Lender will be worried because they have all been at it.
I was ruined after what they did to me and they made me very poorly, but now I am back. Make sure all of you ask for the subject access request (DSAR). The case in question that sets a precedent by a High Court Judge was started on the 14 August 2014 Bank of Scotland, the Bank appealed and removed the appeal on the 8th December 2014. Not only did they lose the case is now a Criminal Investigation. I have proof even my paperwork was doctored (*allegedly*) to show the Ombudsman. At the time I had a 15m portfolio and they knew I had 2 heart attacks.
Peter
Comments
Have Your Say
Every day, landlords who want to influence policy and share real-world experience add their voice here. Your perspective helps keep the debate balanced.
Not a member yet? Join In Seconds
Login with
Previous Article
Insurance on leasehold flat when owning the freeholdNext Article
BTL South Norwood?
Member Since February 2011 - Comments: 3453 - Articles: 286
12:25 PM, 15th March 2015, About 11 years ago
Hi Peter,
I am very sorry to hear about your situation and health as it must have been very stressful.
I am familiar with the ruling from the financial press about the fact you can’t capitalise arrears (add it to the loan amount) and still call it arrears.
Member Since January 2011 - Comments: 12196 - Articles: 1396
1:58 PM, 15th March 2015, About 11 years ago
Reply to the comment left by “Neil Patterson” at “15/03/2015 – 12:25“:
I wish you all the best in fighting this, what is your strategy?
.
Member Since January 2015 - Comments: 77
5:18 PM, 15th March 2015, About 11 years ago
Reply to the comment left by “Mark Alexander” at “15/03/2015 – 13:58“:
I am at present having peolple look at this,if i was cash rich i would go to the high court asap,Landlords can not keep being down trodden ,we provide something that is desperately needed we should respected.One thing is for sure theres no if or buts they have done something they are not allowed to do.I will need at some point to look at all Quantum aspects,plus the clear offences they no they did,they have always refused to meet with me,and just pushed me to one side,they never realised i have been in property most of my working life at one point with 140 properties.
Member Since January 2015 - Comments: 77
5:34 PM, 15th March 2015, About 11 years ago
Reply to the comment left by “Neil Patterson” at “15/03/2015 – 12:25“:
I suspect my case will open pandoras box,being a prolific landlord being duped into having 4 properties repossessed the damage was beyound belief,and in my 6th year of my fight they still will not admit the scam !
Member Since April 2016 - Comments: 4
12:02 AM, 8th April 2016, About 10 years ago
Peter, I’ve just come across this thread & would like to see how far you’ve managed to get? I believe ive been double billed too, also contacted lawyers and housing rights in Ireland along with my MP but hit a bit of a wall. The FOS have so far dismissed my case but upon my complaint & the adjudicator retiring, another adjudicator has taken it up so we’ll see the outcome of that shortly! I was hoping to do similar as BOS VS REA & try & get a class action against the banks but have struggled to make contact with others in the same position. Have you had more luck, was the mortgage expert worth having?
Member Since January 2015 - Comments: 77
1:35 PM, 8th April 2016, About 10 years ago
Reply to the comment left by “Emily Eyesopen” at “08/04/2016 – 00:02“:
HI Emily
Try Caivin at [email protected]
He as been a diamond
Peter
Member Since April 2016 - Comments: 4
10:05 PM, 8th April 2016, About 10 years ago
Hi Peter,
Thankyou for the recommendation, I have emailed him this evening. 🙂
Member Since July 2015 - Comments: 344
12:14 PM, 10th April 2016, About 10 years ago
Anyone who was repossessed despite having arrears recently capitalised will be able to take action against their lender.
This is looking like it might well be the new PPI.
Member Since April 2016 - Comments: 4
6:37 PM, 22nd April 2016, About 10 years ago
Since having the referral from Peter above, I am working with Calvin & we are getting people together for possible class action regarding the capitalisation of arrears (the practice often unbeknown to you!) then using those same arrears to take possession of your property. Please read the BOS VS REA judgement & if any of it rings true, or you do a DSAR & have cause to believe you may be affected, please contact Calvin at Carrington Law.
If there’s anywhere else I can post this to a wider audience please let me know!