Lol ok, I was confused! Yeah Ive been reading about the charges being removed on other people's wf loan but can't seem to find out much about it. That would solve all my problems as Halifax wouldn't have an issue if the charge was removed. I can scan and email them to you, won't be until Tuesday when I'm back at work as I've no scanner at home. There's a lot of info too, they had a fair file on me! Thanks

Hi dx, I have no idea how I managed to merge those threads but it gives you an idea of the history and that I have already requested sar. I took out 13k initially and my current balance is just over 13k now. I only pay 50 a month to the dca and have done for years. I never get any phone calls or bother from wf or whichever dca is handling it at the time. If wf have sold the debt on, Should they have removed the charge or does it not work like this? I got the loan directly from wf as they had an office local to me. Thanks

Hi all, I am looking for some advice on whether I can re-mortgage my property when I have a second charge on the property. The short story is, I stupidly took out a Welcome Finance Loan about 10 years ago now and it was secured on my flat. After separating from my partner, I ended up not being able to afford the monthly payments, the loan has been passed onto various debt agencies but it now with Lowell, I pay an agreed sum each month and have been doing so for around 4/5 years now. I am currently trying to remortgage my flat as myself and my partner had a baby, we cant afford to move to a bigger property but are hoping to convert the loft into a second bedroom. The remortgage would just allow us to do the conversion but there wouldn't be enough to pay off the WF loan. As I will be adding value to the property, my intension would be to sell the property a few years down the line and pay the WF loan off at that time. I have been accepted for a new mortgage by Halifax, they are aware of the second charge on the property and said they would write to WF and request that the charge be postponed, which sounds quite straight forward to me but I'm fully aware nothing with WF is straight forward!! What are the chances of WF postponing the charge when the debt has been sold on? and what are the chances of Halifax approving the mortgage, if the second charge is now with a debt recovery agent? I am thinking that I shouldn't be getting my hopes up and its unlikely Halifax will approve the re-mortgage, but any advice would be appreciated, I might save myself some fees if I knew in advance what the likely outcome is? Any advice would be fantastic. Thanks, HVY

Great thanks for that. It wasnt even the PPI i was concerned about so no idea why they've sent me a cheque for this, probably to put me off track of claiming the £700 of charges!!! I will send the failed SAR letter asap. Thanks

Hi All, Hope someone can point me in the right direction. I sent a SAR request to MBNA as I wanted to claim my charges back. I only received 4 years statements from them though, plus on the statements I noticed some PPI transactions, (these didnt amount to much). So I wrote back requesting the further years statements and any documentation relating to the PPI, stating that this was not limited to the 5 years (in scotland) So yesterday I got a letter from them, saying they have issued a cheque for £78 in relation to the PPI transactions. No mention of my missing statements. But I havnt seen any documents relating to the PPI so how do I know £78 is a justified offered? I didnt even ask for the PPI to be refunded, all I wanted was the missing statements plus details of the PPI policies so I could work out my own figures. Plus it states on the letter this is their final correspondance to this matter (or something similar), what should my next step be? Thanks

Hi, Does anyone know if you can still make payments to WF via the automated payment service. I had a link to it previously but its now not available. I dont want to set up a direct debit with them and refuse to speak to them on the phone. I have written to them several times requesting there bank details so i can make payments via online banking but im getting no response (as usual!!) Any help would be appreciated.

Thanks guys, was without a computer there for a few days. I really dont think I would have the time and money to fight this all the way through the courts, Im currently working two jobs at maximum hours to pay off my debt!! My ex left me in this mess so im determined to get it all paid off myself. I guess I was just looking for something to bring the balance down a bit, I mean for a 13,000 loan, Ive paid £5,000 approx yet its currently sitting at £16,000 - it just seems ridiculous that they can get away with that!!! Why are welcome so against settlements when they are apprently in financial difficulty, you would think they would take what they can from people????

Thanks, that makes sense now. as it was secured I had no cancellation rights. I know I didnt receive an advanced copy as I kept everything on file myself and there is no no record/copy of it in the SAR but I cant see how I would even prove this, would they not just say it was sent ie my word agains theirs???

Ok it doesnt feel so bad that they got it right then! Im not sure i understand the rules for the cancellation notice etc, ive been trying to read the appropriate sections of the act today at work, but my heads starting to feel like a burst balloon with it all. To me, it seems they have to issue with a cancellation notice BUT if they dont, there should be a cooling off period of 14 days from signing of the agreement?? I keep reading different things on this, some say seven days, some say fourteen and it seems to depend on whether their was face to face business or whether it was done by post. As for charges, you may find this hard to believe...but no PPI, MID, zilch!!! All ive had in charges since 2005 are the acceptance fee along with £60 worth of charges. Which seems strange cause ive had letters, house visits etc, but then again their making their money on the fact theyve added £300 a month interest onto the balance when i started missing payments.

Cheers! So based on the 25.2% they're pretty much spot on, that must be a first! Its starting to look like they maybe havent made many mistakes on this loan, other than no notice of cancellation/cooing off period and the fact they've valued the property incorrectly. (although i find it hard to believe they could get it so right!!) Thanks again.

Thanks. Im still confused as when i look at it again, there is two interest rates. Its laid out as follows: Total amount of credit - 13,000 Monthly payments - 279.72 No of months - 120 APR (Variable) - 25.90 Total charge for credit - 20,566.03 acceptance fee - 235 Interest Charge - 20,331.03 Rate of interest per annum - 25.20 Whats with the two interest charges? Nothing these guys do seems to make sense to me!!! Thanks

Back again guys! Can anyone tell me how to calcutate the total charge/interest due on your loan please? Ive tried many ways myself but cant seem to come up with the figures they have. My loan was 13,000 plus 235 acceptance fee and APR is 25.90, this is over ten years. Im getting myself in a muddle trying to work it out! Thanks

I have contacted the Land Registry and there is a charge on my property so the loan is secured. I was having another look through last night and still there is nothing about cancellation or a notice of cancellation. Along with this they have valued you the house at completely the wrong value, they have added a good £25,000 onto the value (which is quite a lot for where i live), they havent checked with the mortgage company about the value/equity etc otherwise they would have known there was no equity. Another thing that suprised me is their credit check, I now have details of all the loans my parents and sisters have taken out over the years, along with my ex partners parents and brothers details and monthly payments! It amazes me that they would need to check all this! Also i found the "missing records" its just one piece of paper with a long list of unanswered phone calls over the two years. They have noted the times I have written to them about a payment plan but no action has been taken on it. i'll keep reading!!

I cant see how they would force sale when there is no equity in the property cause it would be a waste of time and money on their part! But then they shouldnt really have secured loans against our properties anyway when there was no equity in them!

Thanks guys. I will have a read of sections 61 and 64 and phone the land registry to find out about the charge. With regards to the account statement, they said it would be sent under seperate cover. However, I have been receiving a statement every six months or so and yes the missed payments are detailed but no charges have been added during this time (just a ridiculous amount of interest/capitalization). I agree its like the documents were lost at the closure of the last office. The paperwork they have provided in my SAR is all documents that have been scanned onto a computer (with a very bad scanner) then printed off, none of it is good quality so I think all the originals may have been lost/destoyed. I will keep looking through the information though, pretty sure I can come up with some more errors!!! Thanks