Timescales & Fees
The Validation Process - £260 inc. VAT - 3-4 Months
The Validation Process allows us to determine whether your mortgage was sold, transferred or assigned by your lender. For a fixed cost of £260 including VAT, we will carry out a Data Subject Access Request (DSAR) to your lender requesting specific information and documents that relates to the securitisation of your mortgage account.
In our experience an average DSAR is between 300 and 500 pages. Using our bespoke Legal Administration Review System (LARS) and the latest OCR technology we are able to review the documents provided by your lender and determine whether they have sold it, and if so, whether they retained the equitable and legal title to the charge they hold on your property. Once we have carried out the review you will be issued with a Legal Opinion based on our findings.
The Validation Process takes between 3 and 4 months to complete. This is due to the rules set out under the Data Protection Act 1998, which allows your lender 40 days to provide the information and allows the legal team sufficient time to review the dara, request further information from the lender if needed and, enable them to provide a professional legal opinion on the results of the DSAR.
You can carry out a Data Subject Access Request yourself by submitting your request along with a £10 fee, however, once you receive the documents you will need to have a capable person carry out a review of the information provided, in order to determine whether there is any evidence of securitisation. Until the launch of the Legal Quest Mortgage Challenge and the LARS System, the cost of a legal review was prohibitive with quotes in excess of £4000.
For a comprehensive guide to submitting a DSAR by yourself
Our electronic sign up takes only minutes to complete. If you need any assistance one of our specialist affiliates are on hand to guide you through the process. This can be done over the phone or at an arranged appointment. Once we receive notification that you have signed up, you will receive your Welcome Pack including your secure log in details so that you can track the progress of your case.
To determine if your mortgage has been securitised we need to submit a Data Subject Access Request. Following sign up you will receive a copy of our Agent Authority Letter for you to sign, authorising us to deal with your lender on your behalf. We will also require a copy of Photo Identification for all people named on the mortgage and a copy of your latest mortgage statement.
Data Subject Access Request Submission
Once we receive your signed Agent Authority and supporting documents we will submit the Data Subject Access Request (DSAR) to your lender. along with a £10 cheque. All requests are sent recorded delivery to ensure their safe arrival. In accordance with the Data Protection Act 1998, once your lender receives the DSAR they are allowed 40 days to provide the requested information.
In most cases the DSAR documents are provided within the 40 day timeframe. Following receipt of the documents we will carry out a review to determine if there is any evidence that the account has been securitised. The review process is carried out using our bespoke OCR software which can scan and search for specific key words and phrases that indicates if your account has been sold, transferred or assigned.
Once the document review has been completed, the report will be reviewed by our Legal Team to determine if; a.) sufficient evidence was included to issue a Legal Opinion and, b.) if the documentation provided was complete. If during the Legal Review we feel sufficient evidence has been provided a Legal Opinion will be issued. If we feel the documents provided were incomplete we will send a further request to your lender allowing an additional 21 days.
Following a complete review of all documentation you will be issued with a Legal Opinion based on our findings. If you are issued with a Negative Opinion then you unfortunately do not have a case at this time. If you receive a Positive or Probable Opinion you will be invited to join the Legal Quest MSC Class Action against your lender. If you decide to proceed there are no further upfront cost, we will simply invite you to sign a No Win No Fee Agreement.