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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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hi can you advise what to do we applied for a loan to buy a

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hi can you advise what to do we applied for a loan to buy a holiday home in cape verde in 2007 ,we went to the bank and inquired if we could borrow one hundred and five thousand pounds this was agreed, but they advised me to take only what was required at the time which was approx. 55,000 otherwise I would be paying interest on the full amount . when we came for the balance we were told they no longer lend abroad so we were forced to re mortgage or loose our deposit. the bank have denied they were going to lend me the full amount but as I explained at the time of our meeting its either 100% or nothing I have tried to speak to the advisor who dealt with the original loan but she hung up on me, we have taken this up with the ombudsman but at the time we did not have enough evidence , we found a illustration showing the full amount we asked for later on but they could not open the case again. the bank have always denied that we discussed the full amount and a illustration is no proof as anyone can get a illustration, but the one I have was given to me on the day and time of our meeting regards ***** *****
Submitted: 2 years ago.
Category: Law
Expert:  Nicola-mod replied 2 years ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Customer: replied 2 years ago.

hi I ok to wait for a answer

Expert:  Nicola-mod replied 2 years ago.
Hello,
We will continue to look for a Professional to assist you.
Thank you for your patience,
Nicola
Expert:  Ash replied 2 years ago.
Hello my name is ***** ***** I will help you with this.
For now please let me know whether the offer and terms were put in writing?
Customer: replied 2 years ago.

hello from what I can remember I don't recall anything in writing but will check with the bank .

Expert:  Ash replied 2 years ago.
Ok - let me know.
Customer: replied 2 years ago.

hi alex I have a copy of the agreement that we signed for, it shows that the bank have not included the further 50% advance that was verbally agreed at the time, all we have in our favour is the illustration which the financial advisor give to us showing the amount that we required.in previous correspondence she has denied that we discussed any other amount of loan yet we have the illustration with her name on it. the advisor also states that we were going to borrow the rest of the money in cape verde but prior to our trip we had never been to cape verde and would never dream of buying a holiday home until all finance was in place before our inspection trip, regards ***** *****

Expert:  Ash replied 2 years ago.
Ok so does the agreement reflect what you had?
Customer: replied 2 years ago.
Yes we received what I understood was the first part of the loan,this was the advice I had received from the adviser because before I left the meeting I asked will all of the loan be in our account in the next few days ,the advisor replied that we only need the 50percent for now and when the balance is due let us know because there is no point paying interest on the full amount when we don't need the balance till later
Expert:  Ash replied 2 years ago.
But this was not reflected in the terms?
Customer: replied 2 years ago.
No it was not ,on previous dealings with my bank if something was agreed they stood by it so didn't think there would be a problem
Expert:  Ash replied 2 years ago.
And you want to now sue for breach of contract?
Customer: replied 2 years ago.

from what I have explained to you would I have a chance of winning?

Expert:  Ash replied 2 years ago.
Yes I think you. The difficulty is proving it, but I think based on what you have said as long as you have a witness to the conversation I think you have a chance of winning.
Can I clarify anything for you about this today please?
Alex
Customer: replied 2 years ago.

I have no witness to the actual meeting, I spoke to several people that I know and informed them how I was going to buy a holiday home, subject to the banks approval, if the bank were not prepared to advance the full amount then there was no point in the 50% it was all or nothing .now they have placed us in a very difficult position and we may have to sell our home

Expert:  Ash replied 2 years ago.
Ok - you can sue for breach of contract. What you can do is issue proceedings. a Copy of the claim form will be sent to the other side and they will have an opportunity to defend it.
If not then you can enter Judgment and enforce. If the matter is defended then it will be given a timetable for trial and set down for a final trial hearing.
At this point a Judge will decide who is right and who is wrong.
Can I clarify anything for you about this today please?
Alex
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience: Solicitor with 5+ years experience
Ash and 2 other Law Specialists are ready to help you