Hello all,

Am after some help with Mortgage Agency Number 4 LTD which I have seen mentioned a few times throughout the years on this forum.

I'll try not to go on too much and keep it short, any pointers would be greatly received.

In 2006 our mortgage mysterily changed from GMAC to Mortgage Agency Number 4 LTD.

At the time we where on a fixed rate with GMAC and nothing had changed so we merely continued as normal.

The real illusion came to light when our fixed rate was coming to a end and we called MAS No 4 Ltd to check what new deals there where (fixed rates, trackers etc).

We where trapped, mortgage was going to their standard variable rate and with the downturn moving mortgages without a perfect clean file wasn't possible.

We therefore changed it to interest only to bring the payment within affordability.

In december 2015 I suffered a accident at work (work fault) and required emergency surgery over the Christmas period,

further surgery in April 2016 and another November 2016.

I wasn't able to weight bare between Xmas 2015 and April 2016.

It has been a terrible year.

Being given only SSP for 28 weeks,

the mortgage company where advised straight away,

however there help was none existence.

They refused point blank to reduce the interest rate to stop arrears building up,

they gave us payment breaks but this acheived nothing but create arrears quickly.

Their operators just advised us to sell and move, careless in every manor, every option or idea we put through to them shot down within seconds.

They where advised all the way how things where but persited in daily phone calls and letters asking for updates, answered them and few days later back to the same questions as if I have had a immaculate recovery over night.

There harrasment is in no way helping my recovery, did I ask for this = no.

Have I ever been out of work since I left school = no.

We have kept every single letter sent and received by them and have also recorded and stored every single phone call with them.

They have been advised in writing that we are recording their calls but this doesn't stop their "sell up" manor

To prevent the mortgage getting endless arrears, a parent offered to cover our monthly minimum contractual payment for a few months (Nov, Dec, Jan & Feb)

this was to keep them happy and prevent arrears building.

As per this was not good enough for MAS,

they said they see this as an additional income and therefore this should come off the arrears.

As they where fully aware, we didn't have enough funds coming in to cover the mortgage let alone the arrears. Another obsticle put in the way.

It seems like all they want possession of the property, they simply dont care one ounce.

I asked if they could capitalise the arrears too which within seconds was told that will never happen.

I'm at a total loss with them and the last thing I told them is what we have always told them,

once I am either back at work or my injury claim is settled we would be in touch to have the matter settled.

I have nothing to gain not contacting them when things have improved.

I dont want to discuss work within this thread as this is a sore area #I'm just looking for pointers please on how and what we should do to deal with these bullies the best way possible?

Thank you

I'm very troubled by the fact that they are insisting that the help you are receiving from your parents should be treated as additional income. Personally I think that this is grossly unfair.

I think at the very least it should be worth beginning a formal complaint to them with a view to going to the ombudsman. I think I would set about doing this immediately. Write them a letter making it clear that you want the matter taken to the ombudsman at the end of their eight weeks investigation.

Is there anything on the Internet anywhere about parental help being treated as income? What is it say in their terms and conditions?

Begin the ombudsman complaint straightaway. This cost nothing and you have nothing to lose.

By the way, have they been levying any charges against you for arrears et cetera?

By the way, have they been levying any charges against you for arrears et cetera?

Thank you for your speedy reply, it is greatly appreciated.

Yes they are indeed putting charges on the arrears as well as advising they where adding £75 and sending a field agent pre-christmas, however a letter sent to them advised that we gave no permission for a field agent to come to our property and should this be ignored the police would be called.

We just find that every time you think you have a solution, MAS shoot it out of the sky within seconds.

Could you please advise what the address / email for FOS with regard to sending a complaint to?

Again, thank you for your valuable input

Go and visit the website of the financial ombudsman and get details there. Generally speaking you will find that you must start a complaint with the mortgage company first and then if they failed to produce a solution after eight weeks, then they are obliged to give you a final response that allows you to approach the ombudsman.

Disproportionate charges for arrears are unlawful. You may be instead to know that GMAC – along with others Kensington and so forth were find several millions of pounds in about 2009 for treating borrowers unfairly – including inflicting disproportionate charges on them. It seems that your present mortgage company may be doing the same thing. How much are the arrears charges?

Furthermore, they are not allowed to arrange home visits without agreement and an appointment. You should inform them about this and that you do not agree and that you are not prepared to give any appointment. Also, be careful because they will add the cost of the visit to your arrears. This is unlawful also to the extent that there is any marginal profit in it. In other words if you do agree a visit, they can only levy the cost of the actual visit and nothing more. This kind of rule is regularly breached as well.

I suggest that you begin your formal complaint to the mortgage company – do it in writing. Complain that they are treating you unfairly within the meaning of MCOBS by treating a personal loan from your parents as extra income – and tell them that it is none of their business and that you want to use the money to reduce the loan and they are preventing you from doing this therefore causing you to chalk up extra interest.

Tell them that you are also complaining about the level of arrears which is clearly unlawful because it is contrary to FCA rules which forbids disproportionate charges. Tell them also that you will not consent to any visit and that if they try to foist this upon you, you will add this to the series of complaints. Tell them you want them to deal with the complaint urgently but you intend to take it to the ombudsman because you do not expect it to be solved by them.

By the way, you should know that quite often these home visits are used as a basis for carrying out an evaluation exercise at the same time – with a future repossession and resale in mind.

Thank you again for your rely, that is what I shall do then and will send it by recorded post requiring a signature upon delivery.

Like you said I don't see them satifying the complaint but it has to go there first.

Yes that is the picture I am getting off them,

they dont want to come to a suitable arrangement as I think they know there's approx £50k equity in the property and being who they are they would like as much of this as possible hence the reason why I mentioned capitalisation that was quickly answered with "nope that is not going to happen".

Will keep this thread updated and thank you for your help today, it has been valuable

forgot to add the arrears are just under £4k.

When you make your complaint make sure that you remind them of their responsibilities in Treating Customers Fairly. The FCA are hot on this.

When you make your complaint make sure that you remind them of their responsibilities in Treating Customers Fairly. The FCA are hot on this.

Thank you tony3x, I sure will

go to the FCA tomorrow directly

http://www.consumeractiongroup.co.uk/forum/showthread.php?296108-Hot-news-for-anyone-who-has-suffered-mortgage-arrears-charges-irresponsible-lending-or-other-unfair-lender-conduct

copy everything you have to a cheap penstick

all letters

statements [have you got them ALL?]

if not SAR MAS4

telephone calls as well

and send it to the FOS with a very brief covering letter with bullets points to the FCA.

and theres no harm in your ringing the FCA tomorrow too

what ACTUAL mortgage payments have you missed?

total them up

that is all your owe

they cant add any penalty fees or anything to your outstanding balance.

that will give you a true figure of what you actually owe

as for capitalising the mortgage

IMHO that's a BAD idea

all it does is add additional interest to that outstanding balance.

dx

Thank you dx100uk for your indepth posts and sorry for the delay in getting back to you.

Update that the complaint form was sent directly to MAS by special delivery and we received a letter confirming receipt and that they where looking into the complaint.

However this hasn't stopped there calls / voicemails.

Suffering terribly after last operation of Christmas, was defiantely the most painful of the 3.

Will keep the thread updated guys. Thank you