Approached by compensation firm about Mortgage Securitisation?

Approached by compensation firm about Mortgage Securitisation?

10:58 AM, 7th June 2017, About 5 years ago 71

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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 Richard Adams

15:07 PM, 7th October 2021, About 3 months ago

Reply to the comment left by Mark Alexander at 07/10/2021 - 14:28
Hi Mark
I repeat it was the accursed me who opened up this can of worms up in 2016. I've just read through all the many posts since in the hope of educating myself to no avail. The answer now seems to be to contact Legal Quest (originally deemed to be ambulance chasers looking for sign up fees as a form of scam). There were posts in the past from Anne, an introducer, who gave us some info. Is she still around to update us? I've lost track of who MSC are? You have constantly said don't go for it yet with which I tend to concur. With the West Brom action those who sat on the fence and would not join our action still got repaid in full when we won so maybe timid and pathetic borrowers might still benefit from doing nothing in terms of committing time and money now.
Richard

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