Have you checked that your loan documents are correct?

Hi. Just wondering how many people have got their documents double checked?

I have heard that many's a loan got passed but not all of the documents to sanction that loan are legally correct.

For example, you took out a loan, now you are in arrears and bank is chasing you, have you taken the time to checked that the legal documents are all correct?

Has anyone used their right of access to get their bank to send them a copy of all the personal data on them that the bank holds? (Under the Data Protection Act, 1998, you have the right to do this.)

Has anyone done this; found mis-steps in the paperwork and found that their bank's attitude any different?

I have heard of one man who did this. He found that some legal documents weren't completed correctly. He now finds that the bank he is dealing with are more open to negotiation.

Apologies if this has been covered.

On a general basis is this not a matter for the solicitor who acted for you?

It certainly may involve your solicitor if the paperwork is not in order.

However, the incentives for the solicitor to follow this up and fill you in as to how good his/her work was are extremely weak.

This is the kind of job that you would have to do yourself. However, to do this you have to have a degree of specialised knowledge and I, like most I assume, do not have a great amount of this kind of knowledge and would have less confidence in the bit I do know.

So I was hoping that there might be others around who know more: so that's where I'm coming from dewdrop.

Banks Mortgage documents are "standard" and it is up to your solicitor to point out any clauses in it that are pretty onerous. Completion again is usually done through your solicitor. Having said that there is a case in the last few days that affects Mortgages and repossession but from what i can see the reason is that the Government did not enact leglisation which would have prevented this matter arising. I am not too sure what precise issues you have in mind. I am just an ordinary poster with no legal background.

As am I but hopefully someone out there will know a bit more.

All I know is that there are a number of forms that have to be completed to get a loan and in spite of them being standard I think there are cases where they were not signed/completed or completed incorrectly.

This is what I'm driving at and as most people are not familiar with someone else's job (solicitor) then this task of getting their work double checked and speaking for myself it would have been something I would have assumed would have been 100% correctly - but due to the hype at the time and the rush for more, not all of it was.