BoSI has sold its mortgages to Tanager Ltd, a vulture fund

Hi All My name is pat, I have a house that I bought 5 years ago. I put 450k of my owe money in to my family home. Bank of Scotland sold my mortgage to Tanager for I believe somewhere around 20 to 25 Percent was paid on a mortgage of 1,050,000. I have arrears of around 220k, is it possible that tanager will capitalize the arrears? And give me a new 30yr mortgage on the total outstanding 1,050?

if not option 2 - If i sold the house tomorrow with there permission I would probly get 800k, would tanager let me buy a small family home for 300k out of the sale monies and they would receive 500 back. I believe they have bought my property for 20/25 of the mortgage which is around 270 so it is a fair deal.
Please help with any advice you can give me. Pat McCann
 
hi brendan can you give me any advise on my previous post? I am only asking, would it be a good idea to ask tanager to restructure my mortgage with lower repayments for 30yrs because as i am on a tracker mortgage. Do they have a license to do so? Or a different vehicle to accommodate this.

I would be grateful with some feed back. Pat McCann.
 
Calta 95,

Firstly, have you entered into a contract with Tanager Ltd.

Tanager Ltd is unregulated by the Central Bank of Ireland. Your loan agreement was originally with Bank Of Scotland, a regulated entity, so in essence the consumer protections afforded to you when you entered the original loan agreement have been changed without your permission; this is because you no longer have the protections of the Code of Conduct on Mortgage Arrears, the M.A.R.P.S process, various central bank codes, and indeed, redress to the Financial Services Ombudsman. One may be able to argue that you would never have originally entered into such an important legal contract with an unregulated entity, such as Tanager. One would do well to also look at S.I 27/1995 unfair terms in consumer contact regulations and in particular to schedule 3(p).

Reply to this thread and I will advise you as best I can.
 
Last edited by a moderator:
Hi can some one advise..a hse has been empty for 6 yrs I tracked down the owner and she wants rid of property as she lives in the USA and since BOS sold mortgage to tanager Ltd she has not paid mortgage as she was not aware of new set up. On property register it showed her as owner and tanager took over mortgage last year. I'm just wondering will she be aloud to sell? Or should I contact tanager. Property is in bad condition from what I see but mainly cosmetic.. Also owner in america is sending me a key to view the inside of this hse..is this ok to do ??? Tks
 
You must log in or register to reply here.
Back
Top