Everything posted by Crapstone
I would say if you have any points of contention on an account with SPML or their associates to follow up the complaints process and then go the Ombudsman even if you think it's a minor complaint that hasn't been put right. Whilst the account is in dispute it makes it very difficult for them to take you to court for repossession even if you already have one suspended. And as it's taken me 2 years to get a final decision from the Ombudsman it's obviously a lengthy process. Without saying very much that should speak for itself. Time.
I remortgaged from Nationwide to SPML in 2003 and the broker put us on block insurance that I neither needed or wanted. It took months to sort out despite giving them more than adequate proof of my own insurance and each year it has been the same again. They charge £100 to check that your own insurance is to their standard and they have rejected some policies I've sent as being 'unreadable' when faxed by myself and the insurance company and 'lost' when sent to them by recorded delivery. They then start to add their own insurance fees. In the event of trying to claim on either insurance with 2 policies running I'd imagine it would be a nightmare to get either of them to pay anything other than to the mortgage company. I'm not trying to hijack the thread but hopefully just sharing my experience with these idiots. My last post was just to say what I had been through so far with them and to let everyone know they are not on their own. I have some legal and economics experience, (I wished I'd had them when I took out the mortgage!) and have managed to battle my way through on my own and I know where I am going to from here, although their statements have given me a major headache trying to work through them. In my case, SPML/Capstone refused to provide a list of fees to the Ombudsman and as a result they couldn't rule that they were fair or unfair. By refusing and not providing the tarriff of charges the Ombudsman ruled that SPML had not justified them and so were unfair. Also, it was found that SMPL had agreed to the courts decision that £50 would be paid on top of usual payments to clear the arrears. By adding fees they had breached that and shouldn't have agreed to the £50 payment if they knew it wouldn't all go towards the arrears but instead would be swallowed up 'extras'. In other words they had the opportunity to say how much would be needed to reduce the arrears in court but they didn't and agreed to an amount they knew wouldn't touch them and lead me more into debt with them. Hopefully that makes sense. Like other people reading this I tried to seek legal advice in the beginning but didn't find anyone that knew enough about sub-prime mortgages and how they work. It was just a fob off that you have to tow their line as you signed the contract and are at their mercy. So I have to chuckle at the regular consumer advice to approach your lender and ask for this and that.... Say this in court and say that... They have no idea what is going on and the Judges are just that -Judges-. Judges are not economic experts and just want to go home after dealing with us 'silly' people that have signed up for a lifetime of misery but it's far easier to forget the other side of the arguement and use the rubber stamp in favour of Goliath. Rant over. I'm more than happy to respond off-board regarding the Ombusmans decision in full and all my points of contact so far. Best regards, Crapstone.
Hi, I've read this thread with great interest as I've also had problems with SPML hence the username. I had a suspended repossession order in 2006 after gaining arrears and ordered to pay £50 per month as well as contractual payments. This company has tried every dirty trick in the book such as adding block insurance when I had my own, returning perfectly good cheques and taking direct debits early or not presenting them at all. Plus a few lost payments they deny receiving. They served a possession notice 'accidently' even though I was ahead with payments. After 2 years of waiting for a decision from the Ombudsman I have been awarded £300 compensation and a refund of all the fees applied to the account with are unpaid direct debit fees and arrears management fees. In January this year I received an almost full statement on SPML headed notepaper prior to the Ombudsmans final decision 2 weeks ago. Now after requesting a full arrears breakdown I've received another full statement from Capstone that shows the £300 compensation taken off the arrears but nothing else. The accompanying letter says I will have to wait for the quarterly statement and in the meantime they will be seeking possession if I do not clear the arrears. Both statements do not add up at all and it seems I owe more now on the current statement than I did before on January's statement. By that I mean throughout the time I've had the mortgage despite the fees not yet being shown as refunded. For example the earlier statement says the balance for 1/1/09 was £63,178.71 but the later statement says £63,698.85 for the same day. On the earlier statement there are sporadic payments of 'Interest on Arrears Reversal' credited to the account but on their most recent statement these have been omitted. Interest on Arrears is there and for some reason this has jumped from being £27.66 on 1/12/08 to £22. 83 on 1/1/09 and then up to £49.39 on 1/2/09 despite the usual payments being made. The Ombudman have warned SPML they will take a dim view of any fees added to the account but that hasn't stopped them from applying a Litigation Management fees of £115 instead for the last 3 months after losing their appeal to the Ombudsman. I sent off a request for a copy of the original contract and for everything they had including the contact they had with the broker that arranged the mortgage. What a surprise! They have 'lost' all the original paperwork from 2003 and can only provide statements. They are a joke and I fully agree that Capstone and SPML are doing all they can to repossess their assets whatever the cost to the consumer and with total disregard to best practice or the law. How is anyone that has mortgage with these muppets supposed to clear arrears, even with a court order if they insist on adding fees and interest that outweigh the extra payments? Where is the Government on this ridiculous practice when they are preaching that they will do all they can to keep people in their homes? Just for the record I'm compiling yet another letter to Crapstone and if they just try the usual bull, I'm prepared to go to court to enforce the Ombudmans decision, complain to the FAS and start a fresh court case for the events that have happened since. Enough is enough. Best of luck