LEHMANS SUB-PRIME MORTGAGE LENDER SPML UNDER INVESTIGATION FOR UNSCRUPULOUS PRACTICES IN UK

The Companies Investigation Branch of the U.K. Insolvency Service is investigating sub-prime mortgage lender SPML, a subsidiary of bankrupt and apparently fraudulent Lehmans Bros – the shower of immoral, greedy bankers who triggered the world wide economic collapse.

The Companies Investigation Branch is part of the regulatory arm of the U.K. Department for Business, Innovation & Skills (BIS). Prior to the creation of BIS, it was part of the Department of Trade & Industry (DTI).

Although the Companies Investigation Branch is located within the Insolvency Service, an Executive Agency of BIS, it is not limited to companies that have become insolvent. In fact, most investigations are into companies that are still actively trading.

One of BIS’s objectives is to “Deliver free and fair markets …ensuring markets work to the benefit of business, investors, employees and consumers, and for law enforcement to deter fraud”. This includes dealing with misconduct or unscrupulous practices, whether or not this amounts to fraud.

Well, that describes the activities of the banks and sub-prime mortgage lenders quite accurately then !

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8 Responses to “LEHMANS SUB-PRIME MORTGAGE LENDER SPML UNDER INVESTIGATION FOR UNSCRUPULOUS PRACTICES IN UK”

  1. Instalator Says:

    Hello there! This blog post couldn’t be written much better! Looking at this post reminds me of my previous roommate! He always kept talking about this. I’ll forward this post to him. Fairly certain he will have a great read. Many thanks for sharing!

  2. sharron linford Says:

    spml and accenden crap they have left my father who is 83 years of age in a real mess get no joy i have dealt with mortgages and these companies are quote better than a cartoon after 2 years it has actually caused my father much distress and he has lost his mind

  3. Boz Says:

    Sue,

    I would be really interested to hear some more about the details of your case to see how it might apply to other people (me included !)

    For instance, how did the Ombudsman concluded it was wrong ? What were the circumstances and grounds for repossession ?

  4. Anonymous Says:

    Sue from Plymouth ,was with Capstone Finance ,a subsidary of Lehman Brothers !whose property was repossessed in July 2008.
    After a 2 year wait an Ombudsman Report ,showed i was wrongfully subjected ,to having my home taken from me ! also after having spent 20,000 ,on improvments .
    I have endeavoured ,to continue to clear my name ,since 2008 ,being told Litigation should never have commenced against me .
    This is still on going !
    To prove what is Lawful or Unlawful ,is an individuals right to show the burden of proof ,by the claimant !
    You have a right to be heard !
    Sue Plymouth .

  5. lucille bollen Says:

    i did have my first mortgage with spml and felt i wasnt treat very nice from them would be nice to see if i was mis sold thankyou

  6. Boz Says:

    Brian,

    How do I get hold of you ?

  7. brian Says:

    my company may be able to help if you think your mortgage was mis sold,we work on a no win no fee basis ,so it costs nothing to enquire

  8. Stan Ayers Says:

    Is there any way of gaining retribution for the failed mortgage sold to me by SPMC which left me repossed,destitute,penniless,living on the streets in 12 months with a loss of 67500 pounds equity.
    Please is there anything I can do about this fraud?
    Yours Sincerely
    Stan Ayers

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