I would like to extend an open invitation to you view and invite comments on my blog page concerning the deplorable treatment that I have received at the hands of Lloyds Bank Plc.
In 1985 I was invited to join a business venture with another interested party into the acquiring of land with future potential. In finding this a lucrative proposition we contacted Sholer and Son who were the sales agents. They advised us of land that was currently on the market. We purchased land at Doctors Lane, Melton Mowbray, financed through a loan connected with a business account of my partner. With its key entrance point for future housing development we envisaged excellent long term possibilities. Shortly after purchase a local builder realising also its enormous potential enquired into obtaining three fifths of the land for building purpose even without outlying planning permission. After negotiation all parties agreed a sum of £28,000. This money was paid into Lloyds Bank witnessed by their official.
This enabled us to pay the loan back in full settlement to them. The profits of approx £22,000 was equally divided of which £11,000 (my share) was paid into an existing and separate personal account of mine held at the same branch.
When the application for outlined planning permission went before Melton Borough Council, they stipulated that they would require a piecemeal development for the total area (not for five plots). The builder who purchased shares of the said land decided to offer retainers to remaining owners of plots in the said area, a sum of £3,000 with an offer of approximately £68.00 - £80.00 per square metre if outlined planning permission was granted subject to any future application.
I hope at this juncture you the reader are fully satisfied of the validity of the joint venture that was undertaken by ourselves. This I must bring to your attention as Lloyds Bank at a later date attempted to deny my equal involvement in this initial enterprise.
After successfully repaying the initial loan to Lloyds Bank in full we applied in March 1990 for a £22,000 mortgage on an area of approximately 6 acres of agricultural land at Nether Broughton (Leicestershire) envisaging it’s long term potential. We were able to attract investors who purchased plots with similar entrepreneurial foresight.
This allowed us to repay in full the loan within 18 months enabling us to retain land ourselves. May I strongly point out that our joint obligations were met in full to Lloyds. Had there been any dispute or discrepancy regarding our primary venture then it is blatantly obvious that Lloyds would not have entered into the Nether Broughton project.
Unfortunately due to the precarious illness of my partner it became increasingly aware to me that a temporary inability to continue the finalisation of our legal transfer of my allocated plot of land at Melton Mowbray occurred.
As Lloyds Bank was fully aware as stated in their letter to me of the intention of land verbally pre-agreed by ourselves before the initial time of sale, I had no immediate concerns at this stage.
In February 1995, my partners health had improved sufficiently enough for the solicitor Derek Burnham to legally register the land to me and complete all necessary formalities. He sent me the paperwork containing the signature of my partner requiring only my signature.
It was upon contacting Lloyds Bank regarding a separate issue within my business portfolio that I mentioned the imminent completion of the Melton Mowbray project and its land title into my sole name. I was informed by the bank that they would not allow the said transference because of my partners financial difficulties at that time. Unhappy with this situation and hoping fervently that this matter would be resolved, I continued to trust that my partner and Lloyds Bank would arrive at a mutual solution and that the transaction of the land would be successfully finalised.
I undertook to oversee the security, safety and protection of the land at six monthly intervals since its purchase by us.
On the 9th May 2004 I was carrying out my usual inspection of the land when it was brought to my attention very forcibly the question of our ownership. Imagine how appalled I was upon learning that the said land had been sold without any prior knowledge to myself. I immediately rang Mr Derek Burnham (solicitor) who had previously dealt with the land purchase at the time. He was astounded at this news. He promptly wrote to Lloyds Bank and to the Land Registrar Office to ascertain the situation. To my horror it was indeed confirmed that the land had been registered to a Mr and Mrs Hewitt since 1996. Mr Burnham wrote to the bank concerning this matter and advised me to do likewise.
More to follow including letters that I sent and received from Lloyds Bank showing their unethical dealings regarding this matter.
May I invite your comments on the unethical treatment by the hands of Lloyds Bank.
