Hi,

I was repossessed by Kensington Mortgages in 2008, and the fee's and charges before and during this time were awful. Would it be too late for me to now try and reclaim these fee's as I now have very limited paperwork left?

Thanks in advance for any advice.

I think you can recover the charges on the basis that it was money paid under a mistake. The time for recovering money paid under a mistake is six years beginning when you knew about the mistake or could reasonably have done so.

You have all information on your account?

No, I have practically nothing I have only realised as this morning I had a letter from Blenaim finance offering me a refund on miss-applied charges, and judging by the interest they are offering this will be a loan from around the same time. Whilst looking for further information, I noted that Kensington has been fined in 2010 for their unfair charges and so this got me thinking ;-)

Good news on the reimbursement of charges. However, you need to make sure that these are properly calculated. Don't accept the first figure they offer you. Don't forget that by paying charges, you may have had to borrow money or increase an overdraft and of course paying the charges may have lengthen the period of paying off the loan. So you need all of this interest plus the interest on the sum that you eventually come up with. Don't forget that by having your money without your permission, they have been lending it out at fantastically high rates of interest. Whatever the calculation is, they will come out in profit.

In terms of your Kensington mortgage, you need to start writing to them and send them an SAR. You could also send an SAR to your bank in order to get statements showing how much you are paying. Even if you can only get statements relating to part of the time, you can then extrapolate the figures over the whole life of the loan. Once again, make sure that you take everything into account. In other words when you are made to pay charges unlawfully, there is a ripple effect and you need to take account of all of the ripples. You can be certain that the lender – the finance company – will try to limit their reimbursement to simply the charges and some interest but they won't really take all of the damage/losses that they have caused you into account.

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

from my notes

Hi

.

Just to let you know this bunch Kensington have been fined £1.225m by the financial regulator

for treating borrowers who were in arrears unfairly.

.

Claim those charges back plus the interest and tell them not to add any more to the account.

.

There are a few news stories here you can get the info for a letter to send to them.

.

http://news.bbc.co.uk/1/hi/business/8615870.stm

.

http://www.fsa.gov.uk/pubs/final/kensington.pdf

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http://www.theguardian.com/money/2010/apr/12/fsa-kensington-mortgages-fine

.

http://www.moneymarketing.co.uk/news-and-analysis/mortgages/fca-orders-kensington-to-change-unfair-mortgage-terms/2005762.article

http://www.mortgageintroducer.com/mortgages/236498/5/Industry_in_depth/Thousands_of_homeowners_set_for_big_mortgage_refunds.htm

Hi all,

Thank you so much for your replies, and deepest apologies for the delay in responding, I had a bereavement.

So, with regard to Together,

I called those and asked what the offer of a refund was for,

I was advised that this was due to a computer error, and nothing to do with the amount of the charges,

so whilst on the phone, I asked for a breakdown of all the charges that had been applied on my account.

It turns out that for the year the repossession was going through

i had been charged £2346,

for Letters (£35.25),

telephone calls(£30.00),

administration fees(£150.00)

and settlement quotes (55.00).

The account was closed on 3rd June 09

- do you think it is worth asking for these back given the timescale?

As for Kensington, I have not yet been in touch with them, but will write to them today

Once again, thank you for your replies, and apologies for taking so long to come back to you

Mortgages companies can chase you for payment for 12 years, so I can't see any reason why you can't chase them for refunds for 12 years

and the interest they charged on them!!

Thanks will certainly give it a go! Are there any template letters you are aware of with calculators for interest or anything - it's a little head battering

yes

plenty of threads here already

the spreadsheets are here:

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

Thanks - none of those seem to apply to me reclaiming charges for a secured loan (The 4th one gives a nice view but no compound interest and the 3rd one is asking about payments etc) ) - also, do I reclaim everything, or everything above what is deemed reasonable i.e £12 for a letter (so for a £30 charge, just ask for £18 of that back?)

I am so sorry for all the questions

you need to use the search CAG box of the red top toolbar

and read other reclaim threads.

you reclaim everything they charged you no matter of its value

and no you don't deduct £12 from each one.

not sure where you got that from

that's not what the FSA [then] said at all

I think you can recover the charges on the basis that it was money paid under a mistake. The time for recovering money paid under a mistake is six years beginning when you knew about the mistake or could reasonably have done so.

 

You have all information on your account?

I went to the Fos with charges from 2006 to present but they ruled out on the 6 year and 3 year rules. Most of my extortionate charges were between 2006 or 2010 this is what I tried to claim back. They said it's because I should have known I had reason to complain as they had telephone transcripts between this date with me questioning the arrears. I was asking how I was still in arrears when I had paid what I owed (5 calls in in total.)I believe had they not had these I would have had more luck with the FOS. they ruled I was over the 6 and 3 years.