22/10/2021
Mortgage Refund Option
The Mortgage Securitisation Joint Initiative 2021.
Get between 50-70% of your mortgage debt refunded!
Keep reading for more information...
What is it?
Our banks and lenders have sold nearly 80%of all UK mortgages to third parties, many of whom are not regulated by the FCA as lenders.
There is now a joint initiative to reclaim substantial refunds from the mortgage companies for people like you, and you can join the process quickly & easily.
Do I qualify?
Can you say yes to these questions
1. Has your mortgage been running for at least three years?
2. Does the mortgage have more than three years to run on full term?
3. You are not in arrears on your mortgage? (a three month mortgage holiday does not effect your right to be part of the action?
4. Do you own the mortgage/s in your name? if so you can claim as many as you like.
Is your mortgage with one of the following lenders?
1. Accord
2. Acenden Mortgages
3. Advantage Mortgages
4. Aldermore
5. Bank of Ireland
6. Bank of Scotland
7.Birmingham Midshires
8. Bradford & Bingley
9. Bristol & West
10. Capital Home Loans
11. Chelsea Building Society
12. Cheltenham & Gloucester
13. Clydesdale Bank
14. Commercial First Mortgage
15.Coventry Building Society
16. Elderbridge LTD
17. Engage Credit
18. First Active
19. Foundation Home Loans
20. Godiva Mortgages
21. Halifax
22. Helidor
23. Jasper Mortgages
24. Lancashire Mortgages
25. Lapithus
26. Leeds Building Society
27. Lloyds Bank
28. Mars Capital
29. MAS Number 5
30. Melonite
31. Mortgage Express
32. Mortgages PLC
33. Nationwide Building Society
34. Natwest
35. Norwich Peterborough Building Society
36. NRAM (Northern Rock Asset Management)
37. Oakwood Home Loans
38. Paratus AMC
39. Platform
40. Precise Mortgages
41. Principality Building Society
42. Roof Top Mortgages
43. Rosinca
44. RBS (Royal Bank of Scotland)
45. Rosolite
46. Santander
47. Siberite
48. Skipton Building Society
49. Southern Pacific Mortgage Lender
50. The Coventry TLC
51. TMB (The Mortgage Business)
52. The Mortgage Works
53. Together Mortgages
54. TOPAZ Finance
55. TSB
56. Tulip Mortgages
57. UCB Home Loans
58. Virgin Money
59. Wave Lending
60. West Bromwich Building Society
61. Whistle Tree
62. Yorkshire Bank
63. Yorkshire Building Society
Contact Yvette Baldwin 07570 674469
[email protected]
Will this affect my credit file? Or will lenders blacklist me and prevent me from getting another mortgage?
No. So long as you keep paying your mortgage payments on time each month your credit file will not be affected in any way, nor will your ability to get mortgages in the future. Three main reasons:
a) There were tens of thousands of PPI claims made and there is not one single incident of anyone's credit file being adversely affected.
b) FCA regulations strictly prohibit such action.
c) What we're doing is undoing what has been done incorrectly, sorting out all the errors and putting it back together again correctly.
Will this bring the banking system down?
No it won't. There are 11 million outstanding mortgages in the UK. If we handled 10,000 mortgages, this represents only 0.001%, ie one thousandth of one percent. It's tiny.
If my claim is successful, how will the money come back to me?
In the event of a successful negotiated settlement with your lender, the money will be transferred into the solicitor's client account. The fees (25% + VAT) will be deducted and the balance will be transferred into your bank account.
If I go ahead with the validation stage, is there any obligation to proceed and actually file a claim?
No. There is no obligation to proceed after the data validation phase.
If the claim is successful, how much can I expect to receive?
As a guide, we expect you will receive between 30% and 50% of your mortgage balance, net of all fees. However, there are no guarantees of success
Is anyone else doing mortgage securitisation claims in the UK?
No, not to our knowledge.
If mortgage securitisation has been going on for so long, why haven't I heard about this before?
Because the cost of taking legal action against a bank would vastly outweigh any money you would be likely to get back as a private individual. However, if 3,000 claims are submitted at the same time then it becomes viable, and that is exactly what we're doing. Plus you need expert in-depth knowledge of mortgage securitisation, which very few people have.
Are there any previous legal cases where landlords have got together and have been successful against a lender?
Yes, there are several such cases. One case in particular is Alexander vs West Bromwich Mortgage Company Ltd 28th April 2016 in the Court of Appeal from the High Court. Mark Alexander represented 400 buy-to-let customers of the West Bromwich Mortgage Company whose mortgages had been securitised. The judge awarded them £27.5 million plus costs. £27.5 million / 400 is £68,750.
What happens if it goes to court and we lose? Will I have to pay anything?
No, any legal action is done on a no-win, no-fee basis. Prior to any Court action, the solicitors would be required arrange a special insurance policy called After the Event Legal Expenses cover. This provides full indemnity for your own costs and all the opposition's legal fees. There is no possibility that you will be asked to contribute anything, should you lose the case.
How will the claim actually work?
Firstly, the panel law firm acting on your behalf will negotiate with your lender for a refund of mortgage repayments you have made from the point when your mortgage was securitised. In addition, 8% interest per annum can be added. Secondly, an application will be submitted to the Land Registry to have the original lender's first legal charge on the property removed on the basis that their debt has been paid off in full, albeit by a third party.
What happens if the third party investor your mortgage was sold to tries to claim against you in the future?
This is highly unlikely as, it would have already been proven that no paperwork exists that links you to any third party. However, a 6 year 'Before the Event' insurance policy will be taken out to cover such a claim in the future. You will NOT have to contribute any money.
How long will this all take?
The data validation stage normally takes around 3 months. The claim itself is expected to take a further 9 to 12 months to reach a negotiated settlement with the lender. If the lender fails to agree to a negotiated settlement then the case may take longer.
Can I claim on old mortgages I've had in the past?
Unfortunately not. The mortgage must be current.
Can I still claim if the mortgage is in a limited company's name?
Unfortunately not. The mortgage must be held in up to 4 people's personal names, not in the name of a limited company.
