Rogue lender

0 Thanks
2 Posts
12 years ago
Hi, I was wondering if any other members have had problems with Paragin mortgages? They took 3 properties of mine into receivership then proceeded to "wilfully neglect" them, to such an extent that they went from profitable businesses to derelecit wrecks in the space of 18 months, they then sold them at massive losses and are suing me for the difference.
In one case, they sold a building which had 760 of arrears, for a loss of 350K.
I am still involved in the court case, whih, if they win, wil bankrupt me, and they have shown no willingness to see sense or negotiate.
If you have any helpful advice, I am keen to hear it! Apparently there is NO regulation of this sort of activity, they are outwith the control of the FSA.

Please Login

You must be logged in to participate in our forums, to continue please login below.

Not a member? From only £99 you can join in the discussion and get access to member's only resources and services.

As the home for landlords, the NRLA are here to help you save time, save money, and stay compliant. NRLA membership gives you access to a vast range of expertise, resources, and exclusive member benefits and savings, designed to help and empower members. We also play a pivotal role in campaigning and championing the interests of landlords.