UK mortgage Strike

bristol | protests | event notice Wednesday December 26, 2012 10:21 by Laurence Fass laurencefass at hotmail dot com

I am striking against the bullying, coercive and disonorable policies and tactics of my UK mortage lender. This process began four months ago, and this is my first public disclosure.

For over three months the lender (Northern Rock Asset Management) has refused all dialog and ignored several polite and reasonable requests for a copy of a mortgage contract and evidence of regulation and compliance with UK law (features that were explcitly sold to me on the mortgage application form in 2007 but I have not been able to find myself) so I have stopped repaying their extortionate interest (currently set over 950% the UK base rate) and I dont intend to start repayments until they honor their fiduciary duty to the contract and to me. As far as I understand NRAM is using struggling mortgagees (servicing grossly inflated debts based on unlawful or possibly non-existent mortgage contracts) to repay the UK Treasury for the 2008 Northern Rock bailout.

I did not simply stop paying them but I honorably notified them of my intentions, offering one months written notice of my repudiation, and then one weeks notice, and then notice on the day, and on each occasion I invited full and reasonable negotiation. On each occasion they acknowledged receipt and offered reply which has failed to materialize. They have ignored requests to provide original signatures and are hiding behind various UK PO boxes. I am now trying to obtain names, addresses, departments etc. but unsuprisingly they are not being very forthcoming with details.

Since this process began I have received only one anonymous reply stating that they are unable to reply to my inquiry!!! Since I stopped payments the standard frightening arrears letters etc. have started coming, though I have informed them that I do not consider coercion, negligence, and blatant disregard of fiduciary duties to be suitable methods of negotiation. Despite my numerous polite requests for documented discussion they have issued an order to call them on the telephone or wait for a visit from the "field agents" to be charged at my expense and added to my debt. I have replied that if they continue with such action without presenting a tangible, lawful and compliant mortage contract I intend to make claim for the repayment of all interest payments I have made to them to include UK statutory interest, and I shall also seek compensation for their breach of fiduciary duty (for completely ignoring my attempts at negotiation). At present I am making this process up as I go along so any good advice will be most welcome.

I have set up a facebook group where you can offer and receive support and a website will be available soon with a set of tools and resources available for general use. I will provide updates on Bristol IndyMedia as the situation progresses.

May I take this opportunity to wish you all a Happy New Year.

LF