Mortgage Late Payment Fees

[angnnig]

Hello can anyone advise me on how I would go about claiming back mortgage penalty fees.SPML are charging £50 a month in penalty fees for bieng in arrears with the mortgage ,We are just managing to keep up the arrears payments ,but because my partner fell ill and couldn,t work for a while we fell behind.Is thier a template letter I could use.I have looked on the templates section ,but not sure which one I use. Also, can I claim any penalty interest back as they are charging me this too.kind regards angnnig

[manchester1]

Angnnig, Firstly are you sure its SPML or have they sold the debt to somebody else who is managing your mortgage, secondly do you still have to hand your mortgage offer/ mortgage booklet ,reason i ask is that in there somewhere should be terms/conditions specifying how much they can charge you ,if at all. If they are charging you more than in the prescribed terms then a swift letter asking for refund would be in order.

Manc1

[angnnig]

Hi manc 1,Thanks for your reply,its deffo SPML .I think ive still got the T/Cs somewhere ,il dig that out.I seem to remember reading something,when we first took the mortgage out and I think it did state £50 would be charged if in arrears with the mortgage,I will try to find it though just to make sure.Thanks for your advice.regards angnnig

[Dangermouse]

Are the monthly arrears charges etc. penalty charges and therefore reclaimable anyway despite what the T & C's state?


Dangermouse

[midge61]

hi

I have a mort with SPML but have to pay Capstone mortgages Services as they are the administrators of it.

Have you made an agreement with them as to how much extra you pay towards the arrears?

It could be worth writing to them and getting an agreement set up and asking them not to add the fee each month to help get it cleared.

[Carl128]

I desperately want to take on SPML also,
They are now managed by Capstone Mortgages but for over a year now they have charged me £50 per month plus interest. Not to mention the odd £40 asministration fee's I can see on my statement, but have no idea why/what they were charged for.

I fell into arrears just over a year back. They put a claim for repossession in and they were granted a suspended order.
I have worked my butt off since then to pay back all arrears, and even though I only missed 2 payments originally (about £2000) and am now paying off between £150 and £300 a month I still owe them about £700.
This is due to all the extra costs they keep putting onto the account.

Luckily I have now sold my house (pending completion) and have the drive and energy to pursue these people. They pretty much rob you blind and take advantage of the fact you are vulnerable financially.

Its not on, and the more people who challenge them the more chance we have of making them 'think' about what they are doing.

Any template letters to get me started would be greatly appreciated.

[mikek]

I received statements from SPML. They charged me £65 in mortgage arrears fees every month and £25 for each unpaid direct debit. I have loads of "administration fees" for odd amounts, 20, 40, 50 etc. I asked for evidence of manual intervention and I got a lousy A4 print out with dates and abbreviations. Looks like they typed it in Microsoft Word after my Data Subject Request (honestly it does). It was a short mortgage anyway. Had to remortgage quickly. I am not satisfied with the evidence of what cost me so much in charges. I have requested evidence of the costs they incurred in my Data subject Request. I did not get anything. I have sent LBA now. I have also asked for an expanation for the administration charges. They are thieves.

[angnnig]

Hi dangermouse,thanks for your reply,yes they are deffo penalty charges.do you know if i can claim the extra interest they are charging on top of the arrears.kind regards angnnig

[angnnig]

Hi Midge61, Thanks for your reply,its the same with our mortgage capstone deal with all the legalilities.We were bullied into making arrears payments we cant afford as they threatened to have us evicted.I am about to send them a letter to ask can we lower the arrears payments by half,if they dont I think were gonna have to take them to court.kind regards angnnig

[angnnig]

Hi Carl128,thanks for your reply.we fell into arrears about 2 year ago cause my partner fell ill.they took us to court and the court suspended it.its going to take quite a long time to pay our arrears up as we owe £10,000 ,but that includes all the charges and penalties they add on.
I bet your relieved to be almost shut of these rip merchants.They have no compassion or understanding for anyone.as soon as we can afford to do our house up to sell it ,we are going to remortgage and get shut of them.but were trapped at the mo, as the arrears payments are killing us.kind regards angnnig

[angnnig]

Hi Mikek,thanks for your reply,sounds about right for capstone trying to get out of paying money they owe you.If they are ignoring you, can you not take your complaint to the FOS or court,they shouldn,t be allowed to get away with it.kind regards, angnnig