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.
I've had a quick scan through some posts and come to the conclusion that Kensington are the pond life of the mortgage biz.
Anyway, I'm two months in arrears not had any contact with these animals yet, but the good news is a friend has offered to buy my house and it will complete in two months.
So first question is will they repo in 4 months?
What do I tell these barstools so that the sale goes through?
Do I offer token payments to slow there repo process down.
what is the governments new position on stopping mortgage companies repo at the first instance.
What can I claim back because they are probably adding charges as I speak.
I know I need to send a SAR also requesting the underwriting sheet but do I need to refenrence the kensington victory in my request offer.
Thanks for all advice and help.
We live in an unmoderated country why should the net be any different? Bring back free speech we miss it!
No longer have mortgage product just stuck on there SVR. So no chance of ERC.
I've heard some real horror stories repo after just one misssed payment can they still do that? I thought govern had put a stop to first option of repo
We live in an unmoderated country why should the net be any different? Bring back free speech we miss it!
How long have you had your mortgage for? They have a habit of wacking on a massive ERC on top so you walk away owing a fortune or are just trapped
Originally Posted by UnmoderatetheNet
No longer have mortgage product just stuck on there SVR. So no chance of ERC.
I've heard some real horror stories repo after just one misssed payment can they still do that? I thought govern had put a stop to first option of repo
I know this is old but really, you have never spoken to them but you are already being negative and defensive!
They will never repo after 1 month and it is unlikely at 4 unless you refuse to talk to them. They may make you jump through hoops and it might be frustrating but if you can prove there is a 99.9% chance you can sell the property within a reasonable time frame you would have no problems, assuming the sale price is market level and sufficient to cover the loan.
Regards ERC it shouldn't be a surprise! It's in the KFI its in the offer and as Kensington lent through brokers it must have been explained to you.
ahhhh....a Kensington employee if i'm not mistaken....welcome
You are mistaken Far from a Kensington employee, my comments were in no way directed in favour of Kensington. Regardless of who you have a mortgage with you will have a far better ride if you communicate with your lender regards your situation and don't go in all guns blazing. Likewise if your mortgage was taken out after 2004 you will have been aware of the ERC at application and offer, if before 2004 it will be on your offer.
The ironic thing is if you play the game and work with your lender in the current climate and with exposure on lenders actions being watched by the FSA and the media very few lenders will go for eviction at the moment and even if they do if you have been in contact and have some form of proposal very few courts will grant an immediate repossession.
I contacted my mortgage provider with a plan and they just told me to pay up or else...
If my comments have been useful please click the scales and let me know.
Me vs Rockwell/Tessara/RBofS: pending.
Me vs MBNA/1st Crud: Discontinued.
First Direct Overdraft: CCJ won.
IR: 2 CCJs 1 won.
Birmingham Midshires: pending
BT: pending
others to come....
Here is what I posted about Swift I have main mortgage with Kensington and secured loan with Swift!!!!!!!!!!
FSA were making an announcement last week??
Re: Swift Advances. Secured Loan Charges reclaim
Daily Express Monday25/01/2010 HOME OWNERS WIN mortgage REFUND
Near the bottom of the article
The FSA is set to release a report later this week and five more mortgage lenders are in line for fines.
Cerris Tavinor, an FSA spokeswoman, said: “We completed our investigation into Gmac and published the results of that case.
“We have made the point publicly that we have referred other lenders to enforcement, so other work is carrying on.”
Does anyone have the link for this story could'nt happen to a nicer set of barstools?
Still no help on getting massive ERC from this scum, any advice????
You are unlikely to get your ERC back you agreed to it. Unless you can prove it was unfair, though I believe the FSA may be looking at the fairness of charging an ERC on repossession cases. The ERC is part of an agreement of what happens if you terminate in a particular time period.
Ignore the actual money amount and concentrate on the % fee (I'm assuming it was a % of x for the ERC) with regards to whether that was fair also bearing in mind the FSA comments regards fees look at what arrears fees have been added to your balance and therefore have had interest charged on them and also been included in the ERC calculation.
Otherwise if Kensington are one of the 5 just sit back and wait looking at the statement on the FSA website GMAC are having to be proactive in finding everyone they owe money to (I would hope the FSA are auditing this).
How quickly a lender takes to start possesion depends on what type of mortgage you have. Residential mortgages have far more protection than buy to lets which are unregulated. With unregulated mortgages the lender can (& will) take control of the property with NO arrears.
There are 1000's of buy to let landlords out there at the moment losing their properties & going bankrupt because the government, who bailed out the lenders, is now putting pressure on the lenders to pay back the money. It doesn't seem to matter that properties are being sold well under value, just as long as some money goes back into the treasurary.
This is such a short sighted attitude, if the landlords were allowed to continue managing the properties themselves (which they will do properly as it is their business) & then sell when the market comes back the government will get its money back. As it is now, the properties are being left empty for up to 2 years by LPA receivers, then sold below market value, the landlord (having lost his/hers business) cannot afford to pay the shortfall, they are made bankrupt & they then have to claim benefits.
I may be wrong but this does not make good economic sense to me.
Sorry for the rant, but this situation makes my blood boil.
Mungos mum
And possibly a soon to be very busy Kensington employee if they are one of the five under investigation by the fsa
Interesting. They have been fined over a million for behaviour dating back to 2008 and earned some sort of a discount so they didn't have to pay the full amount. And lo and behold, I represented a client at court today who has been treated so shabbily by Kensington that it is perhaps the worst example of immoral, shark like behaviour in a lender that I have ever seen. And I've been doing consumer and housing law for twenty years. My client offered them a lump sum off the arrears and then instalment plus £50 and the lump sum was pretty much cast iron and proven, since the money was coming from the council via the Repossession Prevention Scheme and they had spent a week confirming this to Kensington. Still refused. Had to do an N244 on Friday and attend a hearing earlier today with the bailiffs scheduled to carry out the evition tomorrow. They refused client's last offer two minutes before the hearing. We got the thing suspended anyway though, without having to offer a lump sum of any description and the court has given our client eight years to settle the arrears.
Kensington are evil and sociopathiic and it's a damn good job they're also stupid.
Utter, utter scum. The FSA will be hearing of this ... AGAIN.
Kensington Mortgage Arrears & Claim back
biz.
is a friend has offered to buy my house and it will complete in two months.
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Originally Posted by woodwa5
Far from a Kensington employee, my comments were in no way directed in favour of Kensington. Regardless of who you have a 
Re: Swift Advances. Secured Loan Charges reclaim 
