Gwen Davies

Registered with Property118.com
Thursday 4th July 2013


Latest Comments

Total Number of Property118 Comments: 46

Gwen Davies

0:44 AM, 10th May 2019
About 6 months ago

Negligence in the Banking Crisis

Reply to the comment left by Michael Barnes at 09/05/2019 - 23:56
Thank you Michael. The Bank I’m talking about had to close their lending door at the point of the Banking Crisis and have never come back into the lending market. I believe the reason for this is that they are unable to attain the necessary collateral required to conform to the new strict FCA rules. The reason they had to stop lending was because they had not held sufficient reserve funds to weather the Global Financial Crisis. According to Mervyn King (head of the Bank of England in 2008). They had been lending recklessly prior to the Banking Crisis and these Banks basically nearly broke the whole economy. If they had worked with care skill and diligence as some Banks did they could have found other areas of capital to maintain their business. They didn’t. They closed their lending book and only exist to collect in their mortgages. This to me represents negligence. It is entirely foreseeable that this would crash the property prices and as we have a contract (proximity) they have a duty of care. It’s only fair just and reasonable that they treat customers fairly. They only need to extend the mortgage term. There would be no loss to them. I could even pay extra to reduce the mortgage to enable me to refinance or sell at a profit at a later stage. They’ve been negligent. They owe a duty of care. They contemplated that the exit strategy of sale or refinance was attainable at the end of term and Lord Upjohn said (in a judgement) that this is an implied term. It’s unfair that they do not accept their responsibility making an equitable contract. They legally must consider the interest of their customers.... Read More

Gwen Davies

22:22 PM, 9th May 2019
About 6 months ago

Negligence in the Banking Crisis

Reply to the comment left by Richard Adams at 09/05/2019 - 20:54
Can you email me? Gwendolyndavies@aol.com
Thanks Gwen... Read More

Gwen Davies

22:13 PM, 9th May 2019
About 6 months ago

Negligence in the Banking Crisis

Reply to the comment left by Richard Adams at 09/05/2019 - 20:54
Oh gosh can I private message you?... Read More

Gwen Davies

16:57 PM, 9th May 2019
About 6 months ago

Negligence in the Banking Crisis

Reply to the comment left by Richard Adams at 08/05/2019 - 14:25
Thank you Richard. I have never wanted to renege on paying my mortgage. But when property prices have crashed due to negligence on the part of the Bank then surely they have a duty of care. (Caparo 1967). They only have to extend the mortgage term. Maybe allow you to pay extra to reduce the mortgage and eventually a time will come when the property is no longer in negative equity and can be sold or refinanced. That in my opinion would be a fair option.
It’s a contract and each side has responsibilities. A contract that has not been negotiated must be equitable. So the Law says.... Read More

Gwen Davies

16:46 PM, 9th May 2019
About 6 months ago

Negligence in the Banking Crisis

Reply to the comment left by Chris Novice Shark Bait at 08/05/2019 - 15:45
Hi Chris, your story is shocking. I thought the Law was there to uphold the morals of our society! “You must not do or not do anything that will harm your neighbour”. Surely if the Bank sued and won an amount that should all go towards reducing your mortgage? Shocking if that has not been done.
It would seem that the Banks are protected and can behave in any way they want. The politicians don’t seem much better. How can this be changed? It really needs to if we are going to live in a good society.
I do hope someone will help you.
Gwen... Read More