owner finance causing me headaches, how to proceed?

[Ben Whittaker]

Hi all, I'm in a bind and it's causing me nightmares, not really sure how to proceed from here. Any guidance would be much appreciated. I'll try to keep it as short as possible.

Bought an owner finance deal from an agent on here, happy with the property. I'm having a huge amount of trouble at the moment just trying to get my insurance sorted. I had a policy in place but the bank decided to go and get another one in the last owners name, using my money, without telling me, and not having me on the policy at all. I understand this is because of the owner finance sale and his name still being on the mortgage, and my policy didn't include him. I'm happy to take responsibility for this and accept it as money lost. I just want to rectify this going forward.

I've tried calling the bank to sort this out, but all I get from the lovely Mumbai call centre is "you're not authorized on this account", no one will do anything to help. 

Insurance company is the same result. 

I've tried numerous times to contact the previous owner both via email and phone, no answer or response from numerous attempts, weeks and months apart.

I have looked at refinancing in my own name but being a foreign national with no credit score, my rate will be almost ouble what it is now (5%)

I don't see any good options here, either I pay for two seperate insurance policies or refinance at double the rate. Is there anything else I can do here? 

cheers,

Ben.

[Bjorn Ahlblad]

I think it is time for an attorney. The bank is the owner and the seller may be committing theft by conversion. The seller has/had 'title of convenience' but the bank has title as owner. I am not an expert and I think you need one.