Keep up to date with all of the developments and plans surrounding Legal Quest and the Mortgage Securitisation Claims.
Official Response from Legal Quest PLC regarding a Daily Mail article
We have been made aware of a recent news article published in the Daily Mail, regarding one of our affiliates, Ease Your Mortgage. The article, entitled “Warning over TV campaign asking homeowners for a £260 fee to find mortgage errors” is, in our opinion, biased, while providing limited information in regards to the service that we provide. Despite the majority of the information provided in the article being accurate, the way in which this has been portrayed is with a biased and negative viewpoint of the editorial team, who, at no point came to Legal Quest PLC for comments. The article suggests that through the marketing efforts of our affiliates, we are trying to ‘lure’ homeowners into ‘handing over cash’ in order to get ‘a large chunk’ of their mortgage debt wiped off. This statement, we feel, is unjustified as we clearly ask all potential clients to read through our website thoroughly before signing up for the Validation Process. The article correctly states that we invite borrowers to pay, rather than ‘STUMP UP’ (their words) £260.00 to find out whether their mortgage has been sold on by their original lender to another company. It goes on to correctly state that the TV advert argues that errors in the paperwork when these mortgages are sold could allow borrowers to make a claim against their lender to get ‘up to 70%’ of their mortgage debt written off. This was the original statement which the ASA (Advertising Standards Agency) deemed was ‘misleading’. The article further intimates that the radio adverts were ‘banned’. This is a slight exaggeration as the ASA received a complaint regarding one of Ease Your Mortgages’ adverts. As a result of this, it was withdrawn by agreement and reissued using an amended script, which the ASA agreed was more accurate. As a result, the advert on the radio and websites were amended to state 100% could be written off with a No Win – No Fee, amount due of 25% + VAT = 30% due but ONLY if the borrower wins a case. The remainder of the article is technically correct, repeating only statements we make and continue to make, so that no client is misled into any other conclusion. We are still in the early stages of this huge battle, but following over 12 years of research and 3 years of regulatory oversight, no-one has been able to state that we are wrong,
13th December 2017
Proposed Advisory Board
Following professional advice and due to the complexity of the Legal Quest Mortgage Challenge and planned Mortgage Securitisation Claims (MSC’s), it has been decided that we will select academically, qualified professionals, who will be invited to join an Independent Advisory Board. It was tabled and agreed for the first invitation to be made to Professor Richard A. Werner, who is a well-respected international banking consultant. Professor A, Werner has published papers that include the concept of ‘quantitative easing’, in 1995 and, more recently, as he states in the TV interview, which can be viewed by clicking here, as well as the first published empirical proof regarding the creation of money by the banking sector, this being also confirmed as a fact by the Bank of England. Two additional law professors who were former colleagues of Professor Werner are to be proposed by him as candidates and, it is hoped that all three will accept the appointment to the Advisory Board in early 2018. Two additional senior government individuals have also been tabled as being suitable to provide Legal Quest PLC with a robust panel of Expert Witnesses, beyond reproach, if any of the matters surrounding the Legal Quest Mortgage Challenge or Mortgage Securitisation Claims (MSC’s) are required to be proven in Court.
17th November 2017
Going from strength to strength
In anticipation of the future plans and proposed actions against the mainstream lenders, Legal Quest has taken the significant step to register itself as a PLC. The registration as a PLC also saw the appointment of formal auditors and plans to transfer the audit role to a Big 6 accounting firm after the financial year end in March 2018. On 19th September 2017 Legal Quest Limited was formally registered at Companies House as Legal Quest PLC, any existing agreements or business will continue and be valid under the new name and status.
19th September 2017
Continued Financial Support by Founders & Future Plans
The continued support of the founder members and original investors was ratified by the registration of a £1.07 million debenture. The debenture covers the entire investment to date by the founders and, external parties. In addition, the continued investment and marketing support of Guild Capital Investments Ltd., who are administering the Legal Quest trading style, Legal Mortgage Challenge, and Samweb (UK) Limited t/a Ease Your Mortgage, who also have a 30% equity share, will allow the expansion and future business plans of Legal Quest to proceed. Their support will allow for the continued promotion of the Legal Quest Mortgage Challenge and the planned filing of Mortgage Securitisation Claims (MSC’s) to the lenders. It is proposed to open initial dialogue with the majority of the UK lenders and potentially, with the Council of Mortgage Lenders, during the first quarter of 2018.
August 21, 2017
New Investment Partner
Following months of negotiations and due diligence, Legal Quest Limited would like to welcome a new equity investment partner. Guild Capital Investment Ltd. who have taken a 25% interest of the enlarged share capital in Legal Quest Limited for an investment of £285,000. The new share capital, together with the 5% founder shareholding, sees Guild Capital Investment owning a 30% interest in Legal Quest Limited. Their investment and continued support, will aid the growth and development of the proposed business plans.
August 1, 2017