I have been fighting Nationwide Building Society for 4 years over a property I purchased with a commercial loan from the not so friendly mutual. Nationwide stopped me from putting tenants into the property and created an unfair relationship as set out in the judges ruling on the 5th September 2016
Google John Burns v Nationwide Building Society
They have threatened to bankrupt me and they have now threatened to place cost orders on my two children. My teenaged Son and Daughter have just started there first year as University Students they have both worked part time jobs in Mcdonalds and a call centre to enable them to help me with the costs of legal fees involved in the case with Nationwide Building Society. This just goes to show the moral standards and ethics at Nationwide and what measures they will take to try and stop anyone having a chance of justice in the courts against them. This case is very important to me and my family but it is also very important to thousands of other people who have been faced with a bank that has decided it no longer wants your buisiness and engineers you into a position of default on your loan knowing full well you will never be able to afford the costs of fighting them in the courts. A precedent in law has already been set on my case.
The precedent is that although the loan is commercial and unregulated where a lender i.e Nationwide Building Society has failed to provide consent for new leases / tenants it creates an unfair relationship under section 140A of the Consumer Credit Act 1974 and the lender is liable for substancial damages. In my case a money judgement for nearly £250,0000 was set aside on appeal and the possession order quashed on the basis the damages could exceed monies owed. If my case proceeds and I am successfull it will build on this precedent and help to balance the scales of justice and make it a lot easier for other victims of the corrupt banking system to bring there cases forward and get justice!
If successful in my case with Nationwide Building Society anyone who has been kind enough to donate will be refunded in full when Nationwide pay the costs in case!
Thankyou for spending the time to read about my crowd funding campaign.