Thursday, 5 May 2011

Hogwash and other things

Late one wintry evening whilst silently racking my brain and the internet, for answers to our untenable position, I typed "HBOS complaints" into my google search engine. After the initial surprise, relief, shock and horror at what I found, my blood  began to boil. Because I had been completely consumed by the impact the financial crisis was having on my families life, the fraudulent dealings of HBOS had totally pass me by. 

For two and a half painful years not only I had remained unaware I was not alone in my suffering but I was also oblivious to the fact the Bank of Scotland were the subject of the majority of mortgage complaints made to the Financial Ombudsman Service. I was astounded to find 40% of these mortgage complaints were found in the complainant's favour. Not only was it a relief to know I shared my desire to expose the Bank of Scotland's skulduggery with other victims but I also discovered there were a bloggers, such as Stop HBOS, and the BBC broadcaster and reporter Ian Fraser who were also revealing a catalogue of scandalous dealings within this too big to fail bully boy bank. I am now following  both in an effort to keep abreast of any new developments.

However as a result of further internet searches, I have been further shocked by the report that the Bank of Scotland moves to restructure buy-to-let debt - The Irish Times - Thu, Feb 10, 2011.  It appears the Bank of Scotland, in exceptional circumstances, is to offer some buy to let investors who have fallen into deep negative equity an opportunity to sell at less than the value of their mortgages without come back.  The Bank of Scotland says that they will not be burdening these people with any shortfall obligation.

It goes without saying I am truly happy a solution has been arrived at for those in Ireland who are experiencing mortgage distress and shortfalls but because of HBOS' blatant double standards, I find it nothing short of outrageous that those of who are suffering in the same way in the UK are not enjoying similar treatment. Instead of forgiveness we have been forgotten and this is simply unjust.

Surely the Bank of Scotland's UK residential customers are equally deserving of an opportunity to move on with their lives. Yet, instead they have chosen the buy to let sector to bestow their compassion and are romancing the Irish press with statements which show them in the warm compassionate light of benevolent benefactors.  "Exceptional circumstances" should apply to people in my position. People with three small children who have had their homes, their livelihoods, their health and their hope of ever having a debt free or (even debt manageable)   financial future.  What about our struggle with a £1,000,000 unsecured debt, ill health, bereavement and my husband's suicide plans?

The article states they cannot get "blood from a stone" yet this is precisely what they have been trying to get from us via their Merrils Ede appointed henchwoman. Merrils Ede state on their website that they treat debt collection as if it is their own money and make no differentiation between "can't pay" and "won't pay".  It is for two and half years I have woken every morning wondering if my husband is to recover from his beating at the hands of the Bank of Scotland. I repeatedly rack my brains as to how I can put a stop to the Bank of Scotland's ongoing persecution of my family.  Beside myself with anger and frustration to find their callousness is set to continue because they can only empathise with Irish clientele with second homes and investment properties.

It is now abundantly clear to me all I and the CAB have ever received from the Bank of Scotland in reply to our frequent and lengthy letters explaining my family’s desperate plight, is complete and utter hogwash

The Bank of Scotland has  definitely not heard the last of this!

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