FCA has sounded alarm over growing conspiracy theory that uses arguments dating back to Magna Carta
“Freemen on the land” sound like outlaws in a fairytale. But rather than stealing from the rich to give to the poor like Robin Hood, this group tries to convince hard-up borrowers they are not legally bound by their mortgage contract.
It may sound far-fetched but the Financial Conduct Authority (FCA) has sounded the alarm over this conspiracy theory as a small but growing number of homeowners are using this argument to try to block repossession proceedings.
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