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Thursday 15th October 2015

Latest Comments

Total Number of Property118 Comments: 22


16:18 PM, 21st June 2021, About 11 months ago

Approached by compensation firm about Mortgage Securitisation?

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...... Read More


15:32 PM, 23rd February 2017, About 5 years ago

Landlords hesitant to rent to international students

I've got some potential Romanian tenants, not students, but one of them working shifts at Morrisons. The wife does not work or speak english, and they have young child. Been in the country 2 months, staying with cousin who rents nearby. The husbands english is poor, and I'm not sure he understands what I say about tenancy/rent payments etc.

Would you consider renting to them ? Or does this comment from another forum make perfect sense... "If they can't be credit checked, have a decent, checkable renting history and don't speak fluent English then "I'm out" "... Read More


13:59 PM, 22nd November 2016, About 6 years ago

Property Deal Packaging

>>You would need to purchase a licence but to do that you would first need to obtain Ombudsman approval. To obtain that you will require Professional Indemnity insurance

I understand the PI Insurance and Property Ombudsman Membership... but I can find no mention of purchase a 'licence' on top of Ombudsman membership ? Is there something else ?... Read More


10:01 AM, 19th April 2016, About 6 years ago

Mortgage Express - Are they looking to break mortgage contracts?

Could it be the 'Leap Year' this year that has caused these small changes ? That would make some changes to the annual interest, causing a small change in monthly payment. Good if they would tell us that. Anyway, it seems mx are not the most immediate threat to private landlords. Time for a sensible thread on how to avoid the interest relief changes, by incorporation etc..... Read More


12:32 PM, 16th April 2016, About 6 years ago

Mortgage Express - Are they looking to break mortgage contracts?

My annual statement has arrived this morn, and all mortgages have changed by amounts from 2p to 35p

There's no explanation why they should change at all from the previous many years of base+1.75% Changes to take effect from 1st May (so just within the 14 days notice required to change a direct debit ?).

It's ok saying 'Refuse to pay it' etc, but that would undoubtedly lead to credit ref problems and probably a 'Formal Demand' to repay the mortgage in 7 days (this clause is mentioned on each property statement). Perhaps this is what they hope to trigger ?

I think the answer is to write to them refusing to accept any change in the mortgage terms & conditions that specify Base+1.75%. But given the small amounts involved, prefer not to enter formal dispute at this time, and variation in payment is made as 'Payment under Protest' (a legal term meaning payment is being made, but its need to pay not accepted).

In my case, I want nothing more than to Exit this awful business, and will also suggest that a generous early settlement discount will lead to my portfolio being sold off over the next 2-3 years.

Any other comments ?... Read More