14:14 PM, 23rd September 2015, About 6 years ago 9
I have heard that West Bromwich can indulge in dodgy practices (like UKAR etc) and I have just received a letter I would like advice about before I answer it.
It states that I have 10 years remaining on ‘elements 1 and 99’ of my mortgage term (I don’t know what these ‘elements’ are) and a balance of £55,000. It then says I should have adequate plans in place to make sure I can repay the amount outstanding at the end of the mortgage term. It asks me to complete a form which asks me to write in details of my endowment policy of pension plan (I don’t have either of these specifically as it is an interest only mortgage and I will sell the house at the end of the term). It then states:
‘If you don’t have any plans in place at the moment, please contact us as soon as possible to discuss the options available to you.’ That’s the sentence I don’t like. In actual fact, I do happen to have a small endowment coming out in 2017 for maybe £20,000. And my partner had one come out for maybe £14,000 a few years ago.
I also have more than sufficient funds in the bank to pay it off tomorrow. For example I could send them a copy of a bank savings account with in excess of £100,000 in it.
What is my best course of action? I expect a few others will also be getting these letters. It looks to me like they’re up to something.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Advice and implementation provided by a practising Barrister-At-Law with £10,000,000 of Professional Indemnity InsuranceBook Now
Previous ArticleNumber of UK tenants in arrears rises
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|