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  • Landlords in Distress

    UKAR/Nram/B&B/ME Action

    Hi, if any of you have been affected by state owned UKAR and their subsidiaries and are interested in seeking justice please get in touch. We are a group of people who have been forced from their homes by practises and methods which are at best immoral but quite often unlawful or criminal.

    We understand that a large number of "buy to let" customers have also been treated in this manner forcing many into bankruptcy.

    As UKAR is owned by The Treasury yet registered in Guernsey it's difficult, if not impossible to find any help or justice, The Treasury claim they've given UKAR full autonomy to run as any other bank yet UKAR do not seem operate within the Uks regulations and laws.

    It's obvious to those of us who have been treated so badly that there was never any option of us keeping our homes and properties and that UKAR was set up to strip us of our assets in any way possible .

    They've become industry leaders in reclaiming shortfall debt, they are certainly industry leaders at creating shortfall debt, often in cases where there was at first much equity.

    If you've been affected please help us in our fight for justice.

    You can find us at Eviction- fraud of the banks on Facebook.
    Hi Rob,

    Sorry to hear of your plight.

    Can you advise if your members have breached the T & C's of their loans in any way, or are some of you are not in any kind of breach but LPA's still being called in?

    It is important to be clear on this imho.

    We have other threads on Mortgage Express and UKAR as below:

    Mortgage Express getting tough

    Industry Exclusive - Mortgage Express respond to Property Tribes enquiries

    UKAR property inspections

    In my cases I'd been a Northern Rock customer for app 20 years, in that time I had a couple of late payment markers at the height of the recession as I'm self employed.
    These weren't missed payments, just a day or even just hours late.
    We were put with Nram/ UKAR when Northern Rock was sold and within months my payment had almost trebled from £800 per month to over £2100.
    UKAR would not correspond via letter or email, only over the phone, as I've never had any reason to believe a state owned bank would behave so badly I didn't , at first, see this as an issue.
    Despite my every effort to comply with them and come to an agreement to lower my payments they moved the goalposts every time I achieved their requests. As an example, I was told I could go back on interest only and restructure my mortgage if I reduced my other non secured commitments to others. I did this quickly but was told by UKAR that this deal was no longer open to me. I fell into 2 months arrears , UKAR start aggressive repossession (pro active is their description) after 3 months and we're obviously hoping that as they knew they had made my payments far higher than I could afford that I would slip over their threshold. All of my attempts to come to an arrangement to clear my arrears were either refused or I was given 2/3 months which they knew was unattainable.
    This continued for some time then UKAR wrote and told me I had to meet somebody, at my home, to liaise an agreement. If I refused to meet him I would have "admin costs" added to my arrears!!! I took a day off to meet him ( obviously not ideal given the financial situation I was in) and was surprised that he had no information of my account, any of my dealings with Nram/UKAR. I pointed out that I'd made every attempt to stay in my home so how could he possibly arrange an agreement that I had been refused.
    He told us not to make another payment until he'd spoken to Nram and they posted us a new payment schedule. We waited.
    The next letter we received was a repossession notice as we'd now gone over 3 months arrears. At first and by phone, UKAR /Nram told me that this man I was forced to meet had no right to tell us anything!?!? They will not even acknowledge that you've asked a question about him by letter. Luckily I remembered his name and address, upon searching for him the address he gave me is a rental house he had never resided at yet uses it to register himself as a director of numerous failed Spanish property ventures. He was sent purely to entrap me. I'm yet to physically find him but the net is getting smaller.

    I didn't put up a fight at the repossession hearing, UKAR were fighting hard for me to leave in 12 days, the judge gave me the maximum of 42. I left within this time, I informed UKAR Nram by phone asking where to leave keys or if one of their reps comes and takes them. I was told numerous times that my home HAD NOT been repossessed!!!
    My recorded delivery letters were only "found" by UKAR a year later!
    A year later no attempt had been made to sell my home , I kept telling them it was falling into disrepair as leaves were blocking the gutters and water was building in the ceilings. I was told numerous times that it was my responsibly to upkeep the property despite my telling them that the court order which they fought for specifically stated that it was illegal for me to re-enter once I'd left.
    On another phone call, again a year after I'd left, I was told UKAR doesn't attempt to sell properties over the festive period as its distressing !!!

    The following year my council started bailif action for unpaid council tax on the property, their policy is to only accept evidence from the mortgage lender and UKAR wouldn't reply. UKAR would not respond to me so the council finance officer phoned Nram to be told categorically that they had not repossessed the property. The council then caused me much stress and harassment starting their action again.
    I emailed Richard Banks UKAR CEO telling him that I was suicidal and that their inaction was causing most of it. UKAR responded by sending back the council forms with false dates on and unsigned, when I pointed this out to UKAR they then performed a bailif eviction at the property and instructed their solicitors ttkw to inform the council that we'd been evicted by force over a year after they had full knowledge we had left. The costs for these actions were added to my arrears!
    After I proved to Richard Banks that I had much evidence of the date I left UKAR miraculously found my letter from over a year previous.
    Since I started my fight against them my home was sold in a matter of days for far less than market value and I have been sent a shortfall bill of £75,000.
    I'm far from alone and although every case is slightly different the end result is always the same, people removed from their properties then years of inaction which creates a very profitable shortfall debt which UKAR then sell on.

    My point is that UKAR was set up with only one intention, asset stripping. Despite their many public claims of helping people retain their property the reality is the exact opposite.
    Ukars many victims will undoubtedly include many unsuspecting people who have themselves broken T and C's and many others who have been duped into doing so by UKAR yet the fact remains that many have lost property that they would very likely still have were it not a state owned bank ignoring its own guidelines, rules and laws.
    They have no provision for extending people's mortgage or the length of time they have to clear arrears because the company was set up to close down.
    UKAR has turned a million worthless accounts into an enormous profit making portfolio by becoming industry leaders in pro active arrears reducing ( aggressive repossession to the common man) and their reclaiming of shortfall debt. They are deliberately creating this massive shortfall debt, again, this is something a bank which wasn't state owned would get away with.


    Sorry to play "Devil's Advocate", but your comment does not make any sense to me.

    If they are fire-selling properties that they have repossessed, they are probably selling them around 25 to 30% below market value. A significant proportion of these properties will be in neutral or negative equity.

    There is no guarantee that they will be able to get the "shortfall" off struggling investors and may have to suck a lot of it up.

    How then are they making "enormous profit"?

    Apologies if I have misunderstood something.
    There are many cases where equity is turned into a shortfall. Ukar leave properties empty, sometimes for many years and let them fall into disrepair. During this long period of inaction to sell Ukar are still adding their victims regular payments to the arrears along with many other things like insurance and legal fees. The long wait to sell ensures that the shortfall won't be included in any bankruptcy that arises in many cases shortly after repossession. Ukar know that they've financially ruined most of their victims and they have no hope of being paid but what they have done is create a valuable commodity which they then sell on. Debt. Created and then sold to debt collection agencies, the type which pay day lenders use and which the government is outwardly outraged by?!

    Yes I agree, shot down in flames ?!..
    good old eton rifles ! Osborne/Cameron !...