News Tag: SAMS
October 7, 2009
People who took out shared appreciation mortgages (SAMS) in the 1990s are to have their day in court.
The mortgages were sold by Barclays and Bank of Scotland, usually at 0% interest, and were secured against the future equity growth in a property.
Loans were made for up to 25% of a property's value and only have to be repaid ...
SAMS mortgage holders to have their day in court
by Gill Montia
January 25, 2009
A group of 222 homeowners trapped in shared appreciation mortgages (SAMS) have begun a new stage in their fight for compensation by sending out a letter before legal action to Barclays and HBOS (now part of Lloyds Banking Group).
SAMS are a form of equity release sold by Barclays and HBOS during the late 1990s, when around 15,000 people ...
SAMS mortgage holders up stakes in compensation battle
by Gill Montia
