www.iva.co.uk

I came accross a case today with one of my own clients that I couldn`t quite believe had happened. Basically before he had started the re-mortgage process with myself a couple of weeks ago he had a detailed chat just searching for figures from Picture, well he never signed anything with them or verbally agreed to anything with them just wanted some figures. Today the solicitor went to the land registry because this case is now ready for completion and the solicitor reported back that Picture had put a holding type charge on his property at the land registry and he didn`t know a thing about it. He was telephoned at work and was furious because the re-mortgage could have completed this week. He now has to ask Picture to take this off his property but as the solicitor states the charge expires in a week`s time so he will now have to wait a further 2 weeks for completion. I couldn`t believe what the solicitor was teling me, suffice to say the person in question is a very switched on intelligent guy and is demanding to know what they were playing at. Will keep you posted on the outcome.-Tony

p.s. Another high street lender has started a mortgage lending arm for the adverse / sub prime lending.

I have just one word for this "APPALLING". What would the financial ombudsman make of it all?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hi
Why do you think that they do that ?Is it to stop you from going to another lending source?.Lets hope that your client takes it further.
Regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

Very poor behaviour from Picture, but it doesn't suprise me.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

This once happened to us when we applied for a secured loan with them - we hadn't agreed anything nor had they given us any figures. When I found out I complained but the charge had already expired and they didn't even respond to me. I should have chased it up but it was overtaken with everything else. We have been in an IVA's since February yet at the end of March one of our creditors managed to get an interim charging order on our house - allowed by the Court with who the IVA is registered. Unbelieveable. First I knew about it was a letter from the Land Registry asking if I opposed the registration of a restriction in the creditors favour as they had obtained an interim charging order!

Hi
What was the outcome of this Gizmo ?

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

This is now the case with a number of secured lenders. When an application is processed a notice is registered electronically.

With this type of notice there is no formal process for the lending to go through as it is not actually a restriction.

I will post a list of companies - off the top of my head the three that do it already are Picture, Blemain (including all there subsiduries) and Loan One (Sub of Funding Corp)

Melanie has sorted it out - the creditors solicitor has written to the Court withdrawing their application and asking for discharge of the interim charging order - they then had the b****y cheek to say to me that I should ring the Court and speak to the Land registry to make sure the hearing gets vacated and that the Land registry don't put a restriction on the register. I've had a few words yesterday and made them do it so hopefully it is all sorted now save the Land registry are being a bit of a pain and wanting to see the formal discharge from the Court. I'll check it myself next week to make sure the hearing is out and the Land Registry have what they need. I think I must have had everything possible served on me at some point or other now what with this post IVA and stat demands and CCJ's pre IVA!! I was going to make a formal complaint to the creditor as they knew about the IVA and took part in the voting but I've had enough of it at the minute and just want to get back to normal. It is frustrating and while you know the IVA protects you it is still a bit scary. We had just started to settle down as well but we're back on track again now - 57 months to go!