Approached by compensation firm about Mortgage Securitisation?

Approached by compensation firm about Mortgage Securitisation?

10:58 AM, 7th June 2017, About 4 years ago 64

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Is anyone aware of the Mortgage Securitisation issue that has arisen with “promises” of “up to 8 out of 10 UK Borrowers could qualify for a reduction in their mortgage by up to 70% if mortgage was sold by lender without borrower being told”? 

 I have been cold call approached by a mob seeking to represent me, but immediately thought if there is anything in it that it might be a job for Mark Smith representing our group?

Basically Robinson Murphy Solicitors of Newcastle have written to me due to having my details from a previous contact I had with them years ago – can’t recall about what? –  saying they have been instructed by Legal Quest as one of their administrators in respect of challenging BTL or residential mortgages.

The crux of the matter centres on having a mortgage that was sold, transferred or assigned under a process called Mortgage Securitisation which the lender has not told the borrower about. To qualify one must have a loan secured by a mortgage on your property, the loan must have more than two years before maturity and repayments must be up to date with no arrears.

I’ll be interested to know what Mark Smith makes of it.

Many thanks

richard



Comments

by RH

14:03 PM, 15th January 2021, About 7 months ago

Reply to the comment left by Mark Smith (Barrister-At-Law) at 07/06/2017 - 11:10
Can anyone offer an update to this situation
thanks

by neils26

16:18 PM, 21st June 2021, About a month ago

Finding this thread, started 4 years ago, is like deja-vu ! There's been intensive promotion of this scheme, using Zoom property networking events, since early this year 2021. Mark Smith himself has been involved in at least one call I'm aware of, promoting the concept and endorsing the companies involved (LQ/MSC).

In the current incarnation of this scheme, there was supposed to be a class action claim launched April 2021 (be quick or you'll miss the deadline, and have to wait), now apparently postponed until October. But this thread indicates it's been postponed for at least 4 years ! In fact, Helen in March 2019 referred to '..preparation for actions... almost 5 years ago' i.e. mid-2014

What happened to the test case ?

"...the legal opinion from Mark Smith, Legal Quest is in the final stages and formal discussions with legal expenses funders and ATE providers to obtain funding for the initial actions against up to 40 UK lenders" - posted March 2019 more than 2 years ago... WHAT happened ? Exactly the same thing is being claimed in May/June 2021 - cases put out to Legal Firms and Legal Expenses Insurers... with nothing heard back from anyone in many months.

Can anyone update on the current situation ? I see no significant posts for nearly two years...

by Charlie Habberfield

19:20 PM, 17th July 2021, About 2 weeks ago

I changed my investment property mortgage from the Woolwich (who refused to extend my loan term when I was obliged to retire due to cardiology issues) to West Bromwich through a broker WB went bust and sold out to Mortgage Express who came under the Govt rescue plan who sold out to Rosinca all payments were up to date with some 3 years left to run on my original contract a broker successfully negotiated a re-run with Rosinca Zepher when Topaz came to an end with a Rosinca valuation on my property from £116 thou' to £160 thou I agreed with the broker for a loan of £130 thou' having gone through every search possible (paid for) the offer went through 2 days before Xmas & 2 weeks before the current mortgage came to an end Rosinca's solicitors wrote to say they advised Rosinca not to proceed I am still arguing the case under horrendous stress which has now made me terminally ill - is this foul play ? and what options do I have ? suggestions welcomed please

by Kulasmiley

15:28 PM, 25th July 2021, About A week ago

following this.

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