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Overseas Mortgages

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Overseas Mortgages

Foreign banks have been widely used by UK nationals when buying property abroad. The terms at the time appeared attractive but in hindsight dangerous. For example, in Cyprus, Alpha Bank, The bank of Cyprus and to a lesser extent, Hellenic Bank not only lent in Cypriot Pounds/Euros they also sold Multi-currency mortgages such as Swiss Francs without explaining the risks involved. The Swiss Franc currency collapsed and the exchange rate in relation to the Euro increased by 40%. This has left borrowers trapped in a mortgage they cannot get out of.

If you have purchased property within the EU and have experienced one or more of the following issues then we can offer our service to negotiate on your behalf:

- Your Mortgage has increased due to the currency exchange rate collapse
- You have negative equity due to the property market collapse
- Incomplete property development
- Your bank approved the loan based on unrealistic rental income
- You have not been given your title deeds, impacting on your ability to sell
- Planning permission issues
- Your bank repossessed your property and are still chasing you for the balance

At Enjay we have successfully negotiated to reduce the balances owed by our clients to a manageable level, giving them options to now rent or sell the property. We have also arranged for our clients to obtain their title deeds.

The worry is that banks can pursue you to the UK. They would simply need to obtain a judgement from a court in the country where the property was purchased to chase your UK based assets. Writs and notices are becoming more common, as banks look to address the non-payment of loans. Seeking advice is critical at this point and must not be ignored.

These issues are not just restricted to Cyprus but throughout Europe and our service can be of benefit to anyone who has bought property within the EU.

If you think this is relevant to you or you have other issues then please do not hesitate to contact us to discuss further without any obligation.

Call us today on 01708 854200


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Well, you can take up the claim yourself directly with the adviser or lender or use one of the many other claims management firms out there. Although we can’t guarantee to win your claim you will know that by appointing us you will be using an experienced claims firm that will be working hard for you to get you the compensation you may be entitled to.

You are not required to use the services of Enjay Claims to pursue your claim as it is possible for you to present the claim yourself for free directly to the person/company against whom you wish to complain. If you are a member of, or subject to, an alternative dispute resolution scheme (other than the Financial Ombudsman Service or the Financial Services Compensation Scheme), it is possible for you to present the claim yourself to your alternative dispute resolution scheme.

Reduction in interest charges
Writing off outstanding balance
Re-structuring of loan

You can claim for the above if you have suffered from one or more of the following due to poor advice and lack of due diligence by your lender:

– Exchange rate collapse
– Property market collapse
– Incomplete property development
– Your bank approved the loan based on unrealistic rental income
– You have not been given your title deeds, impacting on your ability to sell
– Planning permission issues
– Your bank repossessed your property and are still chasing you for the balance

Just take a look at our Terms of Business and if you’re happy with everything all you need to do is contact us and we will send you our simple Claim Application. You need to complete this along with our Letter of Authority and return it in the Freepost envelope we supply. If you have any documents relating to your mortgage/secured loan, for example, a loan or credit agreement, then it would be helpful if you can let us have copies. We’ll then write to the provider of your loan and submit your claim.

Due to the volumes of complaints and the complexity of these cases the average time scales vary from 6-18 months.

You may cancel your contract with Enjay Claims within 14 days of signing the Letter of Authority and you will have nothing to pay.  If you wish to cancel please contact us using one of the contact methods below.

If you cancel your contract after the 14 day cancellation period we reserve the right to charge a fee of £10 per hour to cover our reasonable costs for the work undertaken in processing your claim up to the date of cancellation subject to an overall maximum of £150. However, if we have received either confirmation that the Claim is to be upheld or an offer of Compensation, we reserve the right to charge the full fee less fees already taken for reasonable costs where applicable.

You can also complete our Cancellation Form and post or email it to us:

Cancellation Form

Enjay Claims does not refer mis-sold mortgage/secured loan claims to another party: all claims are processed in-house. Enjay Claims may pay up to 50% of the final fee (not including any administration fee, late payment charge, or interest) to a registered agent.

Well firstly you can be reassured that you won’t be paying us anything* unless we win your claim! If the claim is successful then our success fee is 5% (+ VAT) of the compensation (the reduction in pounds from the amount you owed when Enjay completes your claim) or £5000.00 plus VAT whichever is the greater.

When we submit your claim to the adviser or bank, we may need to ask them to provide copies of any application forms, telephone recordings, sales scripts, policy documentation, etc., to help us with your claim.

We will not charge you a success fee if the claim is unsuccessful or the amount of compensation offered is less than £15000.00.

The redress/compensation will be deducted from the amount you owe your lender.

If your total debt reduction was £100,000 then you would pay our fee £5000.00 (+ VAT). See 3 fee illustration examples below:

Total Reduction £100000 £300000 £500000
Our Fee 5% Plus VAT of the total reduction or £5000.00 plus VAT whichever is the greater £6000 £18000 £30000
Total Savings after our Fee £94000 £282000 £470000

The fee illustration is not to be taken as an estimate of the amount likely to be recovered.

We will not represent you in taking legal action. If you wish to take legal action you will have to arrange this separately and pay the costs yourself.

Yes, we will communicate with you via email, phone call or postal mail. We will keep you updated with your case at a minimum of every six months or at all relevant stages. If at any time you would like an update on your case, please contact us.

We make every effort to provide a professional and effective service at all times. However, in the event of a complaint, please contact us using the details below. If you are not satisfied with our response or we haven’t completed our investigation within 8 weeks then you may refer the complaint to the Financial Ombudsman Service, whose contact details are:

Financial Ombudsman Service, Exchange Tower, Harbour Exchange, London, E14 9SR or visit www.financial-ombudsman.org.uk where you can complete their complaint form. You can also call them on: Freephone 0800 0234567 or 0300 1239123.

Enjay Claims Hall Farm Nursery Church Lane Upminster Essex RM14 3QH.

Please also refer to our Complaints Procedure:

Enjay Claims Complaints Procedure