Mortgage & Mort Prot legal documents, incorrect signature

P

Pexus1976

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Hi there,

Unsure were to post this query, please move if you feel it does'nt apply in this section..

A friend of mine was working for a well known Mortgage Broker (Which will not be disclosed) Upon being accepted for the role she was requested to come up with a different name for herself as there were too many people in the company with the same name....As she had already handed in her resignation and was due to commence the following day she had no choice but to go under another name i.e. Carol instead of Mary

Subsequenlty all mortgage docs , correspondence, emails and mort protection policies were signed using this name,,,,,,,,,,,,plus other people in the company used the LARC number in order to put though cases as they had no LARC number themselves..

Now she is concerned as this may eventually become a legal matter and is considering reporting this to the Frinancial Regulator...
She no longer works for this company but is still in the same line of business ie mort, life and pensions...

Are all documents signed using this false name invalid?
Colleagues who used her LARC number to sign doc's, has this effectively made them invalid?
Can she be held liable for any damages?
Can the company be held liable for any damages?
 
I have heard of such shenanigans in certain sub - prime brokers who treat their staff and clients with contempt as they know they will get away with it when they prey on the financially weaker portion of society. (unless of course they are reported)
I am glad your friend moved to pastures knew but if i was her I would pre-empt an investigation into said company by financial regulator by letting the regulator know. In fairness she was only a pawn (if a willing one in this game) and if she confesses before she is dragged into an investigation, it can only help her case.
As for her being held personally responsible...anyone?
 
Thanks for the reply,

As far as I've been told there is an investigation going on.........and a number of people have been contacted...

She is concerned about stepping forward as she does not know what consequences this will have for her...
 
Definitely sounds dodgy - like being told to use another name because there was too many people in the company with the same name???

Your friend should report this. Who knows what else they have been doing. They should be investigated.
 
I don't think using a different name is a problem at all, as long as it is not done with the intent to defraud. A lot of people use a different name to that on their birth cert eg Sean, John, Jack.
I don't know what a LARC number is but I suspect this is more serious - for the people that misrepresented themselves by using a LARC number that was not theirs, not for your friend unless she gave them permission to do so.
 
Colleagues who used her LARC number to sign doc's, has this effectively made them invalid?
Click to expand...

This is certainly not allowed, if you have a LARC number you are authorised to sell life assurance and pension etc products, what this broker is doing is allowing staff who do not have the relevent qualifications to sell life assurance products using someone elses LARC number.
 
It seems like nobody in such a company should be allowed to sell anything nevermind assist people in the biggest financial decision of their lives.
Something should be done..
 
MoneyPenny

It seems like nobody in such a company should be allowed to sell anything nevermind assist people in the biggest financial decision of their lives.
Something should be done..


Seems like no company should encourage these shenanigans... it will effectively render all policies that were issued invalid... this will have series implications for the clients who dealt with this company....

Pexus

I would get your friend to contact the Insurance Ombundsman and the Financial Regulator.... sounds as if this company could be suspended upon investigation..
 
good and all as a site this is, can I suggest you splash out on some legal advise before doing anything....
 
Hi

There are many previous employees of this company that have fallen victim, with similar stories to tell, and lessons learn't.
Could only be believed if experienced!
 
I know exactly what company you mean, I worked there too!! And I can back up the person who advised they had to change their name.

As Im not Irish I put it down to being alright to be doing these things (use someone else insurance number etc) as I was told by them it was alright.

But you see they have money which they bribe there way out of everything, they know too many people in high places. I dont even know how that company is still running, its braking the law left right and centre. Makes me very worried how they are alowed to mess around with people finances.

I feel sorry for anyone who is working there now!
 
Hi Auto 95

Right there with you. Experiences like what we've had, can turn people away from thier career choice in mortgages. You hear about bullying in the work place, and this gives a complete new meaning to it!
Am sure you can relate to what I mean!
 
Rainey D said:
There are many previous employees of this company that have fallen victim, with similar stories to tell, and lessons learn't.
Click to expand...
Sarah W said:
Ah, this brings back at lot of baaaaaad memories and one good one; winning the 'unfair dismissal' tribunal!
Click to expand...
Auto95 said:
I know exactly what company you mean, I worked there too!! And I can back up the person who advised they had to change their name.
Click to expand...
I'm confused. How do you all know that you are referring to the same company as the original poster? :confused:
 
To Club man,

becasue we have all worked there and know more or less everyone that was there. Been there bought the T-shirt kinda thing. Trust me an experience like that you can never forget!!!
 
Any chance somebody could identify the company by linking to proof (e.g. newspaper articles) that they have been found guilty of wrongdoing in this area? Naturally please don't identify them if all we have to go on is anecdotal reports of same.
 
Hi ClubMan

Am not aware if or when they have been found guilty of wrong doing. They have the money, and money talks, know what I mean! Before I departed the company I sought legal advice, and acting on that I just walked. I believe what goes around comes around, and with the turn over of staff in such companies, and word of mouth! Well what can I say, reputation is everything after all!!
 
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