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Interest Only<br />
Mortgages<br />
Term Expired
One size does not fit all<br />
Unique knowledge<br />
Interest Only Mortgage (Term Expired) customers are very different to<br />
arrears customers. They often have no arrears, no other debts, and in<br />
many cases have a current account with their mortgage lender. As such<br />
the recovery strategies and approach that a Lender adopts needs to be<br />
carefully thought through and be specific to each book but flexible<br />
enough to deal with every customer individually.<br />
<strong>IOM</strong> specialists<br />
We have unique market knowledge and can help Lenders avoid pitfalls<br />
which are not immediately obvious unless you have previously undertaken<br />
this work.<br />
Approach of the FCA<br />
Specific <strong>IOM</strong> Legal issues<br />
Specific <strong>IOM</strong> solutions<br />
Court’s approach and<br />
Futureproofing Risk decisions minimising risk of bad<br />
AVS<br />
court orders<br />
Endowment policies:<br />
Lack of documentation<br />
Deposited, Assigned, Shortfalls. and how to get round it<br />
Multiple accounts<br />
Time orders<br />
Discrimination issues<br />
Debt Pre Action Protocol<br />
Vulnerable customers<br />
Specific <strong>IOM</strong> PR risks<br />
Recognising PRA<br />
FOS complaints<br />
defaulting loans<br />
Hamlins Lender Services department specialises in Interest Only<br />
Mortgage (Term Expired) recoveries. We act for a variety of lenders, from<br />
mainstream to more niche, taking legal proceedings to recover Capital<br />
sums outstanding at the end of the term of the mortgage. Legal<br />
proceedings are only part of the process. We help our clients build their<br />
BAU processes taking into account their regulatory, legal and<br />
commercial obligations to produce a process which creates a seamless<br />
customer journey.<br />
Our approach<br />
We have particular expertise in managing and processing backlog<br />
Interest Only Mortgages cases where Lenders due to Industry and<br />
Regulatory uncertainty have not taken action on cases even though the<br />
term expired some time ago. Based on the data we have, we can analyse<br />
your book and advise on likely recoveries, timescales and costs. We<br />
believe this is unique in the industry.
Contact us<br />
Peter Jordan, Hamlins’ Head of<br />
Lender Services, has been an<br />
industry leader in this area for<br />
many years. He is well known<br />
for his market knowledge and<br />
practical approach to balancing<br />
clients Regulatory, Legal and<br />
Prudential obligations<br />
To arrange a meeting to<br />
discuss how we could help<br />
please contact Peter<br />
020 7355 6081<br />
pjordan@hamlins.co.uk<br />
Roxburghe House, 273-287<br />
Regent Street, London W1B 2AD<br />
www.hamlins.co.uk<br />
+44 020 7355 6000
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