Fair Rents (Scotland) Bill or Artificial state manipulation of free market rent?10:34 AM, 6th November 2020
About 3 weeks ago 36
I am aware of two Mortgage Express / UKAR borrowers who received a letter this weekend calling in their loans, an extract of the letters, which are both identical, can be found below. In both cases the properties had been purchased using instant remortgages, i.e. the property had been purchased for cash or with bridging finance and instantly remortgaged based on opem market value to Mortgage Express.
These are the first cases I have seen where Mortgage Express have called in performing loans on these grounds. However, I have acted as a professional witness on a number of occasions in Solicitors Disciplinary Tribunals and in cases where Mortgage Express have commenced litigation against solicitors, both scenarios relating to instant remortgages. In all cases I have been involved in so far the Solicitors Regulatory Authority have ruled the solicitors were acting in accordance with accepted protocols at the time and none of the litigation cases I have provided witness statements regarding instant remortgages have progressed to Court.
I will be working as a private consultant alongside Cotswold Barristers and https://www.litigationwarranty.co.uk/ in the role professional witness regarding Mortgage Express practices relating to instant remortages (AKA same day remortgages) where required.
If you have received a similar letter to the one above please get in touch using the enquiry form below.
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