Halifax plc And Warner Cranston Reed Smith

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My Problem is this:

August 1990 took out a joint endowment mortgage with my partner at the time for a £39,950 new flat with the Halifax.

We hadn’t a deposit, but the developer had an arrangement with the Halifax that he set a side “£2,000” of his money so that it will help us in early stages of paying the mortgage the scheme was set up as this: 65% of the £2000 divided by twelve monthly payments came off our first year’s payments, 35% for the second year and the remainder the third year. The Solicitor – was through the developer who told us that we had to take out a MIG policy as we were applying for a 100% mortgage and told us the reason we had to take out this policy was to insure the Halifax against any mortgage shortfall or us defaulting.

When we had the mortgage offer come through it was in my name only but we had it amended for both names.

In the autumn of 1993 my relationship with my partner broke down and she moved out and left me to pay all expenses etc.

I contacted the Halifax to remove her name from the mortgage etc. The Halifax declined.

November 1993 I had no alternative to hand the keys back to Halifax

Did not hear another thing until July 2000, when my new partner and wife received a funny phone call asking information about me. Two weeks later I received a letter from Warner Cranston asking me to contact me regarding an outstanding debt of £34,442.27. !! I ignored this letter.

Got another letter September 2000 Telling me if I do not contact them within 7 days the will consider court proceedings. I wrote back saying there must be a mistake as I was covered under the MIG policy.

Received another letter from the saying I am not privy to the MIG Policy.

Contacted Local Solicitors to act for me.

They started written dialogue with Warner Cranston (WC) requesting copies of various documents WC- still claim I am not privy to MIG and will not release details. My solicitors give me a copy of article from Sunday Times regarding Peter Walker and Concept Management.

After eight months and £1,100 solicitor is no further forward so I dispense with his services.

I write “without prejudice letter” stating to resolve any more stress to my Family I willing to pay a one off payment – and how much would they require.

Receive letter back from WC demanding me to fill in income and expenditure form and return with in seven days or they will consider court proceedings.

I contact Peter Walker of Concept Management (CM) who agrees to act for me.

Through CM I offer an ex-gratia payment of £1,500.

WC writes back and again asks for the income and expenditure form to be returned.

CM writes back and said no.

1 Aug received copy of their county court claim form !!!


-- darren law (darren@bsa-exe.net), August 03, 2001


Hi Darren, I understand exactly what you are going through as i'm in very much the same position as you. My main concern at the moment would be the county court claim form. Has this been sent from the county court or is it acopy from Warner Cranston Reed Smith. If it is from the court you must act quickly and return the response form (you only have 14 days in which to do this!) Seek advice from a reputable solicitor who has good knowledge of repossesion and mortgage shortfall cases and ask them to draw you up a good defence, cost approx £150.00. I have just done this and am now in the process of putting this into my own words and sending of to court.Hope this helps....regards dare not say!

-- Daren Otsay (ihatenationwide@blueyonder.co.uk), August 06, 2001.

Hi darren,first thing is you need to find out when they sold the property.If more than 6 years has elapsed then under the mortgage code agreement they should not be chasing you.forget all the 12 years nonsense get the date and confirm it with the Halifax's compliance dept that they do subscribe to the code.Also ask them how much they have recieved under the MIG they have to tell you this .Then lok at all the q/a on shortfalls on this site and bombard them with evry thing that you see here.Do not cave in ,thats what they want an easy kill. The six years bit is pivotal here

-- roger watts (rwatts.homeloans@virgin.net), August 06, 2001.

unfortunatly the sale was in august 95 so i was within the six years when they re-contacted me, I keep asking about the MIG and what is the "real" amount of shortfall but the keep saying I am not Privy or party to this and under rights of subrogation they can ask for all of shortfall regardless of MIG - is this right?

-- darren law (darren@bsa-exe.net), August 07, 2001.

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