Hi, we are working with a company who handle a lot of our financial services for us.

They have a team of solicitors setup across the UK who are basically administrating a system which is picking out financial service breaches in loan agreements setup by all kinds of lenders.

Its quite astonishing how many problems are being picked up, from large lenders.

To have your agreement, be it a personal loan, company loans etc looked at, please fax them through with a covering letter giving your name and contact details to our personal fax box on: 0121 666 7065.

No obligation evaluation of the agreeemnt will be carried out and turned around providing you with a report within 7 days.

If a breach is found, the solicitors will take the case on, on a no win no fee basis. If breaches are found in any way on the agreement, any interest paid on the agreement will be refunded to you, and possibly a fine issued to the lender.

Any questions/queries, please email me directly on: Kam@mhasnain.co.uk, or Simon@mhasnain.co.uk and we will help in any way we can.

Loan agreements being looked at right now, personal loans, home owner loans of any sort, secured/unsecured.

Worth a look i think? If its found to be in any breach: You will get back all paid interest, and the agreement will be terminated, also the lender may be fined depending on the breach.

Kam,

I assume there is a win fee involved if they find some misprint etc If so, is it a fixed percentage ?? L322 Big Daddy SUPERCHARGED 5.0 Autobiography - Here & Now!

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i presumes if they find a misprint and you get all your interest paid back

they'll be also wanting the balance of the outstanding loan back too, which could mean refinancing at a higher rated APR

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Yep, the solicitors charge the lender who's in breach with a fee. This reclaim system is picking up momentum and is going commercial in a big way.. same as the bank charge reclaim processes.

They are only looking at personal loans, and other loans right now. Have heard credit card paperwork is next on the agenda..

In terms of what clients get back: All interest paid during the agreement term, your agreement ceases to exist, and right now any loan secured on inaccurate paperwork is not legitimate, so this is taken as a bank loss in the favour of the client... so like i said.. nothing to lose from the customer's perspective.

All sounds very good untill banks and other financial institutions start having massive losses because of this, and of course who will they pass these losses onto......us, by charging higher document fees arangement fees etc which will inturn push the APR up. These companies have now run out of endowment policies to chase so are looking for another avenue for their business. All it will lead to is making it harder to do business, especialy if the FSA become involved and then complience goes mad. Don't get me wrong here, I'm all for doing things the right way, but we've all seen what this can lead to....... Sorry just my thoughts. Speed Limits! not where I live!

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Don't think i would stand much chance getting any money back from them, unless Northern Rock has suddenly found some.

That would really kill the mortgage market if it stretched that far.

Mortgage error in your favour, collect 300k  

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Steve (In Germany) I completely agree......

If you get a loan for x amount and pay interest at x % and you are fully aware of these, but the loan gets cancelled due to a misprint or incorrect terminology that you would be none the wiser to anyway and doesn't affect what you repay, is that really any different from the SCUM who claim they have injuries that they claim compensation for that they don't deserve, slipped at work, minor inconvenience £20K, someone hurt my feelings, 50K!!!

Then they boast about how its like free money.....its got to come from somewhere! Us eventually!

But who is worse? The claimants (the whiplash brigade as I call them) or the people who try to create (or find) the problems? How many times have you been asked if you have had an accident at work in the last 5 years? No win no fee? This makes people claim for something they wouldn't otherwise have done, and more over are not really MORALLY entitled to.

This system could cause the same problems!

Rant Over!!!

the have to pay me back 4 times too much to get £300k back

I don't think I'd ever employ ambulance chasers simply to make some free money, but where I suppose this is subtly different is that if the finance companies put their agreements together in a compliant fashion in the first place then they wouldn't be liable to this sort of action anyway.

This sort of thing SHOULD help the lender think more about what they're doing which is different from a company who through the stupidity of one of it's employees has to pay them out for no real reason. Just my 2p. 

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To be honest guys, when i was first told about this.. i absolutely agree with everything on here..
ultimately, the losses the banks take will be passed back to us the consumer.. but the way this thing is building up momentum.. if we don't take advantage and get our clients and other interested parties on the table, then we're just going to miss out and still get the hits for everyone else reclaiming!

I don't think its fair/right to go back on previous paperwork etc, which has been signed by all in good faith and in total understanding.. we do it daily! however like i said.. its going to happen with/without us and you, so may as well see what you can get out of it..

kam100 wrote:

To be honest guys, when i was first told about this.. i absolutely agree with everything on here..
ultimately, the losses the banks take will be passed back to us the consumer.. but the way this thing is building up momentum.. if we don't take advantage and get our clients and other interested parties on the table, then we're just going to miss out and still get the hits for everyone else reclaiming!

I don't think its fair/right to go back on previous paperwork etc, which has been signed by all in good faith and in total understanding.. we do it daily! however like i said.. its going to happen with/without us and you, so may as well see what you can get out of it..

Not really no, as thats against the law.
This isn't.. its something the lenders are doing wrong which people are taking seriously.

Now, you have willingly gone to the lender and applied yourself for the loan, you have not been advised on the suitibility of the loan or finance so you've entered into an agreement or contract and then signed to say that you agree to be bound my it's terms and conditions layed out clearly in the key features and T&C's. Execution only. However, where there may be a possibilty for a legal challenge is when an individual has gone to a finance house and they(finance house) have then reconmended a suitible finance package for their client, if that then, at a later date, is deemed not to have been suitible for the client then i believe there could be grounds for challenge. But for a company offering a service to get you out of a fair agreement having willingly entered it on a tech issue on T&c's is, in my oppinion, a recipe for disaster......i rest my case mlud Speed Limits! not where I live!

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