Patricia Pearl - Small Claims Procedure - A Practical Guide


An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

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  1. #1
    Basic Account Holder mrsflatbroke Novitiate

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    Default Redstone Mortgages - Claims and repercussions

    Like many others, I have felt the wrath of Redstone and was overjoyed with the FSA’s decision to fine them. This outfit need to see how it feels to be on the receiving end.

    I am in need of advice please. Its a bit lengthy but here is the story:

    We remortgaged with Redstone in May 08.

    Unfortunately, the construction industry was the first casualty of this recession and my other half became unemployed in Sept 08. We were entitled to some benefits but would have to wait 39 weeks for help with our mortgageicon.

    I phoned Redstone to explain the situation and ask what options were available to us. To say they were unhelpful and unsympathetic is an understatement. They just kept pointing out that they were adding a £50 arrears fee each month and that if we got arrears of 3 months or more, they would go to court and get a possession order.

    We paid whatever we could afford each month but inevitably went more than 3 months in arrears. We received a letter from Redstone’s solicitors demanding a payment of £1200 within 7 days (to get arrears under 3 months) or it was off to court. A relative very kindly paid the £1200 to stop any court action. Redstone added a charge of £51.25 to our mortgageicon for “solicitors costs” (presumably the letter they sent us) and continued to add a £50 arrears fee each month.

    I spoke to Redstone to try to arrange a mutually acceptable payment plan. They refused to add the arrears to our mortgage balance as an extra loan, or to let us clear the arrears gradually over the remaining period of our mortgage. They were only interested in clearing the arrears in the quickest amount of time and expected us to make the full monthly mortgage payment as well as something towards the arrears. I ended up agreeing to a completely unrealistic payment plan which we wouldn’t be able to manage, and kept our fingers crossed that one or both of us would find a job very soon

    With help from the DWP, we somehow managed to stick to the arrangement for several months but then the DWP lowered the rate at which they pay mortgage interesticon and we had to find a further £200 per month. By October 2009 our arrears went over 3 months again and we received another solicitors letter demanding £1100 in 7 days or court action.

    I phoned Redstone again and told them that it was impossible for us to make this payment. They agreed to a new payment plan, reducing the amount we paid towards the arrears each month, but said that they would still go to court and get a “Suspended Possession Order” just in case we couldn’t manage the payments. Further “solicitors costs” of £536.00 and £243.75 appeared on our mortgage statement.

    Thankfully, we have managed to stick to the arrangement (and cleared over £1000 off the arrears) but feel under constant pressure until the arrears are cleared in full.

    I am determined to try and reclaim some, if not all, of the following charges:

    21 x £50 arrears fee = £1050
    2 x £30 returned direct debiticon fee = £60
    3 x solicitors fees (£51.25, £536.00, £243.75) = £831

    TOTAL = £1941 (this would completely clear the arrears which are £1530).

    I know that the arrears and direct debit fees are pretty straightforward, but need advice about the solicitors fees. If Redstone had been more flexible, rather than just wanting arrears cleared quickly, there would have been no need for solicitors or court action and therefore no fees.

    Also, if we make a claim against them, could Redstone penalise us in some way or could there be any other repercussions?

    One last thing, am I right in thinking that these fees should have become due for payment at the end of the mortgage term and not added on a monthly basis? Presumably, as they are added to the mortgage balance each month, they are included in the figure used to calculate interest.

    Any advice anyone can offer would be really appreciated.



  2. #2
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    Default Re: Redstone Mortgages - Claims and repercussions

    i would think like banks, they would be in serious do-do if they took any retalitory action

    go get 'em

    dx

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    Default Re: Redstone Mortgages - Claims and repercussions

    well this should be absolutely no problem getting repayment of your charges for arrears and return direct debits. You would also be to recover solicitors costs as long as they have been charged him over the actual cost of those fees. However, you do make a very good point that if Redstone had acted fairly then the solicitors costs might not have been payable at all. On this basis I think you may as well try to recover the solicitors costs too. However, it will help you a great deal if you are able to discover if they have added a margin of profit to those costs. This would help to emphasise Redstone is unfair treatment of you.
    you are quite right that the charges and other fees would be repayable at the end. Also you have not mentioned anything about interesticon. Have they been charging you a figure for interest for any of these. They probably have – but you need to check it up. You should be claiming this back as well.

    are there any other items which you haven't recognised yet? On any councillor visits for instance?

    Have you done an SARicon?

    I would suggest that you begin by reading the FSA decisions fully – several times over. I would suggest that you do an SARicon straightaway.

    When you have got a full understanding of the decisions, how we apply to your situation, and when you have received all information from Redstone, then you begin as aggressively as possible.

    Have you actually paid any of the charges? Or are they simply been added to the bill? What are you actually paying at the moment – just the mortgage arrears or an element for the charges as well? If you're paying an element for the charges as well then not only should you be claiming this back plus the interest on those charges, but also you should be seeking restitution interest, and this means that you had been seeking to force Redstone to pay over any benefit that they are receiving one away are in possession of the money which they have wrongfully taken from you.

    As retaliation, given their record and given what you are claiming, they would be mad to start retaliating. However if they did, then it would all be grist to your mill because it would be fairly easy to spot the retaliation and then to bring to the attention of the court if necessary.

    You can do two things here you can go to the Ombudsmanicon or you can go to the county courticon. I would suggest the latter if Redstone or at all uncooperative about letting you have all your money back including all of the figure of interest that you have identified. They County Court action is fairly straightforward and in the case of mortgage arrears charges from Redstone it would be completely straightforward. Not only that, but I would then forward any copy of a judgement onto the FSA as part of a serious complaint. The complaint would be that not only had Redstone acted unfairly in the treatment of your arrears but also that they had treated you unfairly when you try to get your money back.

    Have you read the FSA decision in Redstone? Have you also read the FSA decision in Deutsche bank – which is similar and also very explanatory? You must make sure that you read these completely and become very familiar with them. You then go through your own situation in the light of those FSA decisions and tried to draw parallels all the way through in order to build a sound case against Redstone.



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    Basic Account Holder mrsflatbroke Novitiate

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    Default Re: Redstone Mortgages - Claims and repercussions

    Thanks for your advice. Any idea how I can find out if they have "upped" the solicitors fees?

    I am currently paying my monthly mortgageicon plus £175 towards arrears. I haven't requested an SARicon, I am taking figures from my mortgage statements which show payments made, individual fees added (i.e. "arrears fee" or "solicitors fees") and interesticon added. I am assuming that the interest is based on the whole balance including the fees. Should I request a breakdown of these fees in case there are charges for non-existent counsellor visits etc?

    I have read the FSA decision on Redstone but will have a good look at Deutsche Bank and also the paperwork relating to the suspended possession order which I received from Redstone's solicitors back in October 2010 and then post again. Thanks for the help.


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    Default Re: Redstone Mortgages - Claims and repercussions

    Do the SARicon straightaway. Make sure that you ask for everything they have relating to you in any form including correspondence, screen notes, internal correspodence, file notes.

    When they make their disclosure you can check what is missing. If you think that anything is missing then complain about non-compliance. For instance, I can imagine that there will be no reference to the legal work or to the bill. However, don't mention that now. Wait until there is evidence of non-compliance and you can use that against them.

    Once you have their SARicon disclosure, you can try to SAR the solicitors and see what that turns up.

    This information gathering stage is a long slog but it will be worth it in the end. It is worth being fully prepared.

    On the other hand if you want to move quickly then you could put your claim in now at the same time as the SAR but I think that this might make them more careful about disclosure. The best way forward is to go slowly because later on when you move on them, you will be able to do it decisively.

    Of course all my advice here is based on the assumption that they will try to resist your claim.

    If you feel that they won't, then go straight ahead and make your claim.



    Please don't pm me about specific questions unless you have posted and it has not been dealt with or unless the matter is confidential.
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  6. #6
    Basic Account Holder mrsflatbroke Novitiate

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    Default Re: Redstone Mortgages - Claims and repercussions

    Thanks for that , think I'll take the slow route and make sure I have all the information I need. I can't see Redstone just rolling over and handing back my money without at least the threat of a fight.


  7. #7
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    Default Re: Redstone Mortgages - Claims and repercussions

    Hi Mrsflatbroke
    I have been reading with great interesticon your cooments on Redstone, as I am in a similar position.

    Any chance of an update? I notice that it is about six months on from your last post and I would love to hear what has been happening.


  8. #8
    Basic Account Holder mrsflatbroke Novitiate

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    Default Re: Redstone Mortgages - Claims and repercussions

    Hi Fielder,

    I haven't progressed any further with this at the moment as the other half is worried about retaliation from Redstone,
    especially as there is a suspended possession order in place.

    I don't think that they could demand that we clear all the arrears or that we go to a different lender,
    but we are not in a position to remortgage elsewhere at the moment if they did.

    We have stuck to the payment arrangement and have got the arrears down to about £1000.

    I want to push forward with this but hubby thinks we should wait until the new year when the arrears will be completely cleared
    and we can get the suspended possession order lifted before taking any action.

    Will post again if there's any change. What stage are you at with Redstone?


  9. #9
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    Default Re: Redstone Mortgages - Claims and repercussions

    they would severely fined if they took ANY retalitory action i can assure you.

    you should not run scared when they have been so blatantly dishonest with the these charges
    p'haps to the extent of compounding or even CAUSING your arrears.

    dx

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  10. #10
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    Default Re: Redstone Mortgages - Claims and repercussions

    It is very encouraging to hear that!
    I am holding back at the moment as I feel apprehensive and am worried like mrsflatbroke's husband.
    So, maybe now is the right time to go ahead with the letter. And you are right, their actions have helped to incur some of the arrears.


  11. #11
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    Default Re: Redstone Mortgages - Claims and repercussions

    Hi mrsflatbroke and dx100uk,

    If I am paying off the arrears at the amount set by the court, Redstone cannot take me back to court.

    So, I will try to get the charges back! They will clear arrears anyway.
    I would like to ask for restitutionary charges aswell, are they calculated at 29%? As it says on the spreadsheet.
    Also, what is a reasonable amouont to ask for for the bad credit rating I now have?

    And to mresflatbroke, if you too are paying off your arrears at the set rate, what can they do? I don't think a Judge would rule that they can reposses your home in the circumstance.


  12. #12
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    Default Re: Redstone Mortgages - Claims and repercussions

    typically its £1000 a wrong entry.

    dx

    Credit Reference Agencies:Experian Equifax CallCredit noddle<<<<CRA FILE INFO IS HERE<<<<
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    NEVER EVER - act on a private message asking you to visit another website, make contact 'off list' or by telephone
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  13. #13
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    Default Re: Redstone Mortgages - Claims and repercussions

    Thanks DX, is that aswell as the restituionary charges?


  14. #14
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    Default Re: Redstone Mortgages - Claims and repercussions

    yes

    typically wrong CRA entries attract those kinds of compensation.

    have a search around
    our advance search top right is useful.

    dx

    Credit Reference Agencies:Experian Equifax CallCredit noddle<<<<CRA FILE INFO IS HERE<<<<
    fed up with DCA's calling get a TRUECALL BOX!! - HERE
    Sort Your Debts Now - - here

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    1. Single Premium PPI Q&A Read Here
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    3. Reclaim Loan, Credit Card, mortgage & CAtalogue Charges Read Here
    my views are my own...seek legal advice if ness
    NEVER EVER - act on a private message asking you to visit another website, make contact 'off list' or by telephone
    - alert the siteteam IMMEDIATELY by hitting the black warning triangle on any message - Particularly if this results in a request to pay a fee to help you.


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  15. #15
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    Default Re: Redstone Mortgages - Claims and repercussions

    Hi, I am really sorry you got stung by Redstone, you are not alone. my wife and I had the same problem with them. We too were subject to possesion order and making suitable repayments offers on arrears were told no. We paid arrears up to date from a kind family member but was still only 1 month behind and under the 3 month deadline.....a court hearing was STILL set on the grounds of not being consistant....we went to court and the kind judge agreed what payments we were to be make to them. After poor poor customers service for the entire policy we sold the house leaving redstone behind.

    redstone also charged the court cost on to my policy, but since 2010 i have been sent 2 cheques for £40 with regards to adminicon errors.....i am currently seeking mis sale of PPIicon and advise you do too.
    i would also advise you to claim your self and save 30% - 45%. write a letter to Barclaysicon with a mis sale of PPI templateicon that you can get on the internet. get in touch with redstone for the PPI policy agreement. send this to barclays which was where redstoned banked. send letter to them and wait for cash on your mat. what i have discovered is that the PPI companies can not make the claim go faster in fact it will be slower with the volume of claims. PPI companies are leechs and WILL get a vast amount of your money that you WILL be able to get yourself with a little letter stating that you knew nothing about PPI.....in the case of redstone i never knew i had PPI till i checked......lets get some compensation for signing up with a company in my opinion is a laughing stock....lets make THEM cry for a bit.....very good luck to you.


  16. #16
    Basic Account Holder mrsflatbroke Novitiate

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    Default Re: Redstone Mortgages - Claims and repercussions

    Hi keyboard_junkie1978, I appreciate the advice but I am a bit confused about reclaiming missoldicon PPI from Redstone. We have an interesticon only mortgageicon with them but no payment protection insurance. Can you explain what it is you claimed from Redstone. Was it the solicitors costs and interest which they added to your account, or was there some kind of insurance included within the mortgageicon agreement of which you were not aware. If so, how did you find out about it?


  17. #17
    Basic Account Holder keyboard_junkie1978 Novitiate

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    Default Re: Redstone Mortgages - Claims and repercussions

    Hi again.
    The PPIicon WILL be hidden in your paperwork somewhere.
    I didnt know i had it but its was standard practice to put it in place.....
    .I had..........look at my case who said they wanted 35% of my winnings so told them to jog on.

    I down loaded a PPI claim templateicon from internet ( google it)and fill in the blanks.
    send this off to Barclaysicon who redstone bank with, wait 4 months and you should reclaim some money..
    .possibley about £3,000, then Mrsflatbroke may become Mrsmoney bags for a while.

    unlike you i am not with redstone anymore so not sure of repocussions claiming might have.

    To get your paperwork from redstone if you havent got it.
    if you havent ask redstone for a DSAR request which is basicly using the freedom of information act
    and getting all notes on you ever written.
    this will cost £10 but worth it.

    DONT TELL THEM YOUR SEEKING PPI as they will mysteriously lose them if you do.

    i told them i had a house fire and lost my notes.
    the true explanation is that i threw them away as soon as i sold my house in discust,
    as i didnt want to see a redstone logo EVER again.

    I read somewhere that Barclays were giving full refunds as they initially only gave part refunds.
    last year redstone got fined 6 million pounds for adminicon errors buy FSA governerning body...

    .DONT use a PPI company

    redstone PPI claims and do a bit of reading up...

    ..Claim companies can not make it go any faster or any better chance of winning than yourself.
    its just a letter to the bank explaining that you never knew you had PPI,
    and if you did then you would have refused it....thats the key statement.
    PLEASE EMAIL ME IF STILL CONFUSSED....
    .I'D EVEN TRY TO FIND A WAY OF RINGING YOU TO SPEAK TO YOU IF NEEDED.
    i want to help you get these crooks.
    go get them tiger...hehe


  18. #18
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    Default Re: Redstone Mortgages - Claims and repercussions

    i strongly suggest you follow the loan link in my sig below
    rather than any other route

    dx

    Credit Reference Agencies:Experian Equifax CallCredit noddle<<<<CRA FILE INFO IS HERE<<<<
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    my views are my own...seek legal advice if ness
    NEVER EVER - act on a private message asking you to visit another website, make contact 'off list' or by telephone
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    Default Re: Redstone Mortgages - Claims and repercussions

    This is my first post here, and I am so pleased to find that I am not alone in having problems with Redstone Mortgages. My story is slightly different, although the conclusions are the same in that Redstone are currently trying to evict me under the terms of a SPO they obtained 5 years ago (2007). Let me explain.

    I took out a mortgageicon with Rooftop Mortgages in May 2004. Almost immediately it would seem that mortgageicon was assumed by Redstone. I have no record on my file of ever having been advised of that change.

    In 2007, I went through some bad times as a result of a client not paying an invoice in the sum of £75000. Redstone obtained a SPO for outstanding arrears which were fully repaid later that year. (I was working abroad at the time and so was unable to give full attention to this kind of stuff, please bare with me).

    In July 2008, I received a letter from Redstone telling me that from September 2004 to date (ie from inception to 2008) they have been calculating my mortgage interesticon using the wrong calculations, specifically saying (and I quote) that "interest has not been charged in accordance with the Terms and conditions of my mortgage". As things transpired, those were the only two sentences of a long and confusing letter which did nothing to explain, although reading it again now I think it says they undercharged me but they will effectively swallow their loss because t was their fault. Don't worry, they said, everything will be ok from the next interest re-set day.

    As I was working abroad, I had no idea about any of this, and didn't check when I came home which I did monthly for a few days at a time.

    Zip forward to 2012, and I have alledgedly fallen into arrears again and they now seek to re-possess under the SPO of 2007, notwithstanding that I have had periods in the intervening time when I have not been in arrears.

    A check of the statements and information I have to hand covering the last 4 years (my next statement is due in June) show the following:

    - Notwithstanding the letter of 2008, my mortgage interest is still not being calculated correctly. It has therefore never been properly calculated since the day of inception.
    - Whilst I may have missed payments in some months, in 4 of the last 5 years I have overpaidicon my mortgage interest, on some occasions by up to £450 in a month. In those years, I have paid a total £134k in interest against a Redstone requirement of £130k, which in itself is considerably higher than it would have been had it been properly calculated.
    - In one year (2010-2011) I overpaidicon Redstone to the tune of £6700, for the year. Redstone's calculations on their own were £1300 higher for the year than they should have been based on proper calculation. In that year, I missed 1 payment.
    - In addition, Redstone have been charging me something called "Loan Interest Premium" of about £80 per month. This is outside the Terms and Conditions and I have no idea what this relates to. Recently it has increased by about £4 per month, but by and large it is a fairly static figure.
    - They have also charged me all the fees referred to within the FSA statement, but have made no attempt whatsoever to redress that particular situation. I only became aware of this this week.

    My mortgage is interest only, 3mth Libor resets, calculated on a 30 day month, 360 day year. This is not a difficult calculation, and should result in monthly interest being exactly the same for 3 months at a time. At no stage in any of the last 5 years, has the interest payment required by Redstone been the same two months in succession. This is a sure sign that the calculation is wrong, and I wish I had noticed it sooner. I would have done, had I not been abroad.

    The result is that they are seeking re-possession and yet on the basis of mis-calculations THEY OWE ME £13,500+ for 4 years alone. I will be unable to calculate the full amount till I get the full file from them under SARicon. The whole thing is an utter mess.

    This note has gone on longer than anticipated, but can anyone provide some guidance please.


  20. #20
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    I am in
    a sort of fire-fighting role here. Hate HFC & their compulsory PPI ethos
    Posts
    65,825

    Default Re: Redstone Mortgages - Claims and repercussions

    start your own thread

    see below

    dx

    Credit Reference Agencies:Experian Equifax CallCredit noddle<<<<CRA FILE INFO IS HERE<<<<
    fed up with DCA's calling get a TRUECALL BOX!! - HERE
    Sort Your Debts Now - - here

    Start Your Own Thread - HERE

    1. Single Premium PPI Q&A Read Here
    2. Reclaim mis-sold PPI Read Here
    3. Reclaim Loan, Credit Card, mortgage & CAtalogue Charges Read Here
    my views are my own...seek legal advice if ness
    NEVER EVER - act on a private message asking you to visit another website, make contact 'off list' or by telephone
    - alert the siteteam IMMEDIATELY by hitting the black warning triangle on any message - Particularly if this results in a request to pay a fee to help you.


    DX
    RIP Martin3030
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