Struggle Against Financial Exploitation (SAFE)
Shared Appreciation Mortgage Action Group (SAMAG)

CALLING ALL HOLDERS OF
SHARED APPRECIATION MORTGAGES

(Shared Appreciation Mortgages ™ provided by Bank of Scotland or Barclays Bank between the end of 1996 and 1998)

SAFE and SAMAG have taken advice from Leading Counsel about challenging the amounts payable to the Banks as ‘Appreciation’ on redemption of Shared Appreciation Mortgages (SAMs).

Nine years ago, Sheila Jones borrowed £44,000 from HBoS bank. Now it is demanding an astonishing £290,000 to clear her loan and she must decide between losing her home or staying on and watching it crumble around her.

She is among thousands of homeowners saddled with controversial shared appreciation mortgages.

SAFE (Struggle Against Financial Exploitation Limited) and leading bank HBOS have met for a second time to discuss Shared Appreciation Mortgages (SAMs). Meeting with SAFE in London on September 25, HBOS representatives confirmed that they were reviewing whether a hardship scheme was a feasible option but stressed that there was no certainty that a mutually acceptable solution could be found. SAFE’s aim is to find a fair solution for customers poorly served by the1997-1998 SAM schemes.