Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
Interest normally due on the mortgage.
Arrangement fees.
Solicitors fees.
Fees for arranging your own insurance.
Higher lending Charge.
Early redemption Charge.
Edited December 2010
Thanks for the many replies-as you can see,there has been some interesting challenges,so the above list should not be taken as set-in-stone.
If you are sent a private message directing you for advice or support with your issues to another website,this is your choice.Before you decide,consider the users here who have already offered help and support.Private message facilities are offered for users to communicate issues that are/or could be seen to be inappropriate for posting on the main forum.Site rules explain this in more detail.If you are approached by private message with a view to asking you to visit another website,please inform the site team via the report icon. Advice offered by Martin3030 is not supported by any legal training or qualification.Members are advised to use the services of fully insured legal professionals when needed. Donations help CAG to help YOU Click here
Question for Martin if you're available. You mention that admin Charges for closing a mortgage are reclaimable. Because we redeemed a mortgage with Mortgages 2 Ltd early, we were forced to pay an "administration fee" of £14,000. I know this is an early redemption charge, but the bank itself does not call it this. Therefore isn't their admin fee reclaimable? I mean, I think I could argue this.
I am reclaiming, I have found that most of these companies try to settle out of court, I for one am willing to take it this far.
Lloyds TSB (SARS) request sent 9th June 2006
£2191 Moneyclaim Issued 11/08/2006, Acknowleded 17th August Defence 14 Sep, AQ returned 5/10/2006.SETTLED IN FULL £2,670 26/11/2006/ Lloyds Credit Card SETTLED IN FULL £267 MBNA SETTLED IN FULL 15/09/2006 £829 Citicard (SARS) request sent 22nd June 2006 Moneyclaim issued 19th Sep, Defence and AQ received 5/10/2006, AQ returned 5/10/2006, part refund received 10/10/2006
GE MONEY SETTLLED IN FULL £400
Barclaycard Me and Mrs SARS sent 19/10/2006 settled £350
Welcome Finance PPI 2 accounts one settled £1018 waiting on other
GE Money PPI 1 account settled 8/5/2008 £560 2nd account SETTLED IN FULL £3,599.78p 15thAugust 2008
Lloyds TSB PPI CC complaint sent 10/04/2008
Black Horse PPI with FOS 20/05/2008
HFC PPI complaint sent 22/05/2008
Does anyone know anything about actuarial interest? I was charged £15,421 by Blemain Finance over a period of 2 years on a £52000 loan and £3792 (6 month early repayment interest)
Letting you know that, having taken Mortgages 2 Limited to court for penalties, broker commission and ERC, totalling £18,000, we have settled. Accepted £4,000 just before allocation questionnaires were due. I know this is not a lot, but I want to focus on my other case, against G E Money.
This does show, however, that Mortgages 2 don't really want to go to court. Our case, by the way, was based on a mortgage in 1999.
Letting you know that, having taken Mortgages 2 Limited to court for penalties, broker commission and ERC, totalling £18,000, we have settled. Accepted £4,000 just before allocation questionnaires were due. I know this is not a lot, but I want to focus on my other case, against G E Money.
This does show, however, that Mortgages 2 don't really want to go to court. Our case, by the way, was based on a mortgage in 1999.
Frustrated.
Sorry to post this here but I don't know how else to ask Frustrated, but I think mortgage 2 LTd are connected to Mortgages PLC and I am interested in your case as that is who I plan to go after for arrears charges. I don't think they were my best option at the time I was put on to them, so would the broker have earny a fortune out of it? I suspect so, how did you find out the cost of the comission?
I took out a fixed combination mortgage with Abbey National in 1999. Fixed for 6 years with a £2200 cashback.
This was at a fixed rate of 6% + an additional 1.45% to cover the cashback. Total rate was 7.45%.
In March 2003 , i had to redeem the mortage as Abbey wouldnt offer me a remortgage.
I had to pay back the cashback in full , £2200.
I also had to pay another penalty at the fixed rate of 7.45% for a penalty period of 300 on a balance of £35570.59 = £2178.08.
There is a section saying penalty period above the 300.
What I am claiming is why have i got to pay the 7.45% over the period of 300 [doesnt specify as to days or months] .
I would have thought it sghould be at 6% for 72 months.
Just wandering if anybody can help me out here please.
Can interest be reclaimed if it was added to arrangement fees and maintenance vouchers? Someone has been charged a whack of interest by buy as you view (see here (last few posts on thread http://www.consumeractiongroup.co.uk...-view-but.html) If it can be done, what letter can be suggested do she can start to re-claim?
I am not an expert, but I can give good advice about Brighthouse
Am learning more and more about DCA's too
I have no legal experience and all advice given is based on the knowledge I've gained from this site.
<------If you think I have been helpful, please feel free to tip my scales - remember to put your CAG name though!
1) ERC - whereby new mortgage was taken with same provider? ERC wavied on previous mortgage with same lender as well?
2) Legal fee
3) Debt Counselling fee
4) Debt Counselling services
5) Personal secured loan charge for acting in this matter
6) Completion fee
7) Application fee
8) Sundries
9) payment option fee
10) discharge fee
11) Portable product additional borrowing fee
12) administration fee
13) arrangement fee
14) returned direct debit fee
15) arrears charge
16) solictors instruction fee
17) duplicate interim statement fee
18) insurance fee
19) discharge of mortgage fee
Please can anyone help!!!!
many thanks,
IMO, the only items that you can reclaim a bieng unlawful are items 14 and 15 with the possibilty of 12, depending on what it is
Steven
Using CAG Toolbar will generate much needed income - Download Here
Confused by Simple Interest? Confounded by Compound Interest? Read my Interest Tutorial
My Wins
GE Money Won unconditionally May 2007 NatWest Won unconditionally August 2007 BrighthouseWon unconditionally August 2007 GoldfishWon unconditionally April 2008 (including CI on the basis of Sempra) Clydesdale Financial Services (now BPF) Won unconditionally February 2008
Any opinions are without prejudice & without liability. Do not take any legal action on my advice alone. Almost everything I know concerning the law I learned from this site.
Please note, I will not give advice by PM. Please send a link to your thread and I will do my best to answer there.
I'm surprised this thread has not developed further. Isn't this what CAG is all about?
That list by Emanevs is pretty exhaustive. Part of the problem is understanding the context in which a particular lender charges a certain fee. To generalise however, perhaps it should be re-organised into three categories of claim - YES, POSSIBLY and NO-WAY HOSE!
At a stab, I'd probably go with
YES:
12) administration fee
14) returned direct debit fee
15) arrears charge
POSSIBLY:
1) ERC
2) Legal fee
3) Debt Counselling fee
4) Debt Counselling services
5) Personal secured loan charge for acting in this matter
9) payment option fee
10) discharge fee
11) Portable product additional borrowing fee
17) duplicate interim statement fee
18) insurance fee
19) discharge of mortgage fee
The matrix is intrinsically flawed. Within it is the program for it's own destruction. If you are reading this, you are in the matrix and it's days are numbered...so watch out!
I'm going to start a new thread about the decision I just received from the fos, but thought I would stop by to say they have decided that I am NOT entitled to returned DD fees, arrears fees - except where my account was in credit, or brought up to date - a refund of solicitors fees where they cost less than GMAC had charged me, or any interest incurred by them adding this lot onto my balance.
Not a happy puppy! If anyone has any advice as to whether I should accept, please pop onto my thread re this, I'm going to title it Disappointing mortgage Reclaim Outcome, and give your opinion as to what to do next.
Many on these Forums have warned about the conduct of the fos in these matters so it's not surprising to hear them siding with "you know who" - disappointing as that may be.
The point is, the rulings by the FSA specifically relate to mortgage accounts in Arrears and how lenders handle those charges and apply interest. The ruling by the SC re Bank Charges however is very narrow and is focused on current accounts of commercial banks NOT the general charges of other lenders e.g. mortgage charges.
The jury is still out somewhat as to what people should/n't be claiming regarding mortgages but the law is there for you to use if you want to pursue this. Many (including me) have had success with reclaiming some mortgage charges and others seem to have failed.
At the end of the day, thankfully YOU are not bound to accept the FOS decision and legal recourse remains available IF you are not happy with the way they conducted the matter. It may be that a court will take a much different view on your mortgage account charges if you go that route. It may also be that the lender in question will pay up after just the threat of court action or on receipt of initial court claim documents!
However, be warned that should you choose to go to court at this stage and the lender opts to defend, they may well cite the FOS ruling against your earlier claim so be prepared to argue against that possibility.
Can you post a link to your new thread?
The matrix is intrinsically flawed. Within it is the program for it's own destruction. If you are reading this, you are in the matrix and it's days are numbered...so watch out!
Thanks, Bustthematrix. At the moment, I'm really ticked off, so I'm thinking I'm going to take further action - just have to do even more research now! Bleh! Lol!
Just noticed after I'd posted that earlier, they have added interest to the tiny amount they offered, but still been charged God knows how much interest on all of those arrears charges that were added to my balance.
What you can/cannot claim
charges
Reply With Quote
Originally Posted by MARTIN3030
Re: What you can/cannot claim
I am not an expert, but I can give good advice about Brighthouse
