While not definitive, Clear Your Mortgage has details of most lenders who are proven not to securitise. Our system is programmed to decline these during the sign up process.
To be able to provisionally calculate the remaining period of your mortgage, you may advise the approximate year and month of when the mortgage started.
If you are comfortable with the tasks detailed by Clear Your Mortgage, then you may want to continue and carry out the tasks yourself.
Please be fully aware that any action taken does and will be directly linked to your mortgage and your home. So please sure you are capable and aware of exactly what is required.
If you wish to use your own solicitor, you must make sure that the costs of such appointment are competitive and confirmed as fixed before going forward.
We would ask that you compare our fixed administration charges with any quotation from a third party professional adviser.
We have no problem with if a homeowner wants choose to use their own professional advisers or carry out the No Win No Fee – Dispute Process themselves.
The time-frame to conclusion varies from case to case. Both the homeowner and the bank/lender should be providing correct mortgage documentation to ensure service is able to respond to the Data Subject Access Request in a timely manner.
It is expected that the bank/lender will not immediately respond and it is the firm believe of our panel solicitor that a period of between 12 and 18 months is predicted to the point where a settlement may be agreed. If the bank/lender chooses to take the dispute to arbitration or even to a full court review, this time frame will be increased by a significant factor, which is difficult to envisage.
The Legal opinion has an estimated period of 40 days for the bank/lender to respond, which may be extended for or by various matters. Following acknowledgement of the full mortgage documentation subject to the bank/lender’s responses, you can expect an imprecise period of 60-90 days until a legal review and opinion is offered.
If it is proven that you have a valid compensation claim for either mis-selling relative to the mortgage offer or by the use/misuse of the Power of Attorney or equivalent authority, then compensation will only be received.
If the bank/lender does not have the legal and equitable right to hold a valid charge on your property, then you are entitled to have the charge removed. This would result in having an indirect benefit equal to the balance of any mortgage outstanding at the time of settlement or removal of the charge.
In most cases there will be a significant amount of benefit. Please note any ‘benefit’ may be subject to a ‘no win no fee’ deduction as part of the settlement agreement if you instruct professional advisers on a conditional fee basis.
Please note: Once you have “won” you will be provided legal defence cost cover, at no cost to you should a third party attempt to claim against you
Having legal opinion is a simple step by step qualification and review exercise which should be conducted by all mortgage holders to determine, beyond any shadow of a doubt, that
a) the bank/lender has been granted the right to act as if they were you, under a Power of Attorney or similar authority and authorised by you to sell or transfer their legal and equitable rights to the mortgage and/or proceeds;
b) the bank/lender actually used the Power of Attorney to sell/transfer the mortgage under a securitisation process without telling you; and
c) when the bank/lender had sold/transferred the rights of the mortgage, did they retain both legal and equitable rights to continue to hold a valid charge on your property.
Eight out of ten UK mortgages have been sold on. Yours could be one of them.
There are rights of protection by law which means you cannot be penalised nor can your credit worthiness be affected. The decision to proceed to Stage 2 is only taken after conducting a Legal Opinion which will provide you with the obvious confirmation and evidence that you have a valid cause of action, if you file a valid dispute case with your bank/lender. Any breach by a Lender could have serious regulatory consequences for them.
Yes, any mortgage/loan secured on a property is potentially suitable for the bank/lender to securitise and therefore all mortgage holders can apply, even those with a buy to let mortgage.
Each mortgage is considered a separate loan obligation and therefore must be treated in the same manner.
If you are having difficulty signing in, please first check that you are using your correct Client ID Reference and Password. If you are still having problems, please email Hello@clearyourmortgage.co.uk with your query and a member of our service will attend to the matter as soon as possible.
A password was given when you first instructed Clear Your Mortgage to act for you and the temporary password was probably changed as instructed. If you do not remember the password, please use the Forgotten Password link.
Yes- however the property must be located in mainland United Kingdom. At present, we do not handle matters that pertain to overseas properties.
I have two references, one on the mortgage offer and another on the mortgage paper. Which shall I use?
Always use the reference displayed on your current mortgage statement.
Your reference will be stated on the monthly or annual mortgage statement. You may request a statement from your lender and this should only take a couple of days to arrive.
I have a commercial loan secured against my property. Can this be treated as a mortgage if it has been securitised?
Yes- provided that the commercial loan is secured against property and that a power of attorney is stated in the loan documentation or paperwork.
The loan is a standalone agreement and would probably also qualify for the same review and should be included as a separate matter for review.
There is full protection by law which means you cannot be penalised and neither will your credit worthiness be affected, if you file a valid dispute resolution case with your bank/lender.