Showing results for tags 'mortgage'.
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Borrowers whose monthly payments doubled when their lender increased the rate on their tracker mortgages are hoping a Court of Appeal ruling might allow them to claim back thousands of pounds. About 6,000 West Bromwich Building Society customers are expecting refunds after last week’s ruling that the lender was not justified in changing the rates for buy-to-let landlords on tracker mortgages. In December 2013 the lender increased the rates, despite the fact that the Bank of England’s leading Bank Rate, which tracker mortgages are typically expected to follow, had not changed at all. These borrowers will now receive a refund and be returned to the lower rate. The lender is expected to pay out £27.5m. But West Brom was not the only lender to increase rates for its tracker borrowers Thousands of customers of the Bank of Ireland, which provides mortgages sold by the Post Office, and Skipton and Manchester building societies were also affected when those lenders increased rates on their tracker or mortgages or other loans subject to rate caps. http://www.telegraph.co.uk/personal-banking/mortgages/after-6000-borrowers-get-mortgage-refund-could-you-be-due-money/ -
Hi As the subject suggests, can anyone please tell me what is the time frame in which to start (or complete if required) a case to reclaim mortgage fees etc from acenden? thanks
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Our house was repossessed in 2009 and sold at auction to recover the outstanding mortgage balance. The sale left a shortfall of £25K+ which the lender came after me for, and being in our late-60s with no savings, assets or investments following a business collapse this is being repaid at £5 per month from Pension Credit sole-income. At this rate it would take over 400 years to settle. I have twice formally requested that this be written off, as it is clear that there is now no expectation in retirement of there being a substantial income or a radical change of circumstance that would make settlement a possibility. My first approach 4 years ago was made direct to the lender, and shortly afterward a response came from the DCA advising that their client was not willing to do so. A follow-up request restating the realities and requesting reconsideration was never replied to. My second approach 2 years ago, and two subsequent chases, have never been replied to. I believe that the mortgage lender’s code of conduct has something to say in such a regard, particularly that a lender should not, or may not, pursue recovery of a mortgage shortfall debt where it is clear that recovery is impractical or unachievable. Is there a mortgage-debt expert on CAG who can confirm or deny this? I intend to request a write-off again, and want to leave zero wiggle-room because clearly 400 years is idiotically silly to enforce at age 68 or indeed any age! Any clarification will be greatly appreciated, thanks! -
Hello All, This is my first post on here although I have done a tremendous amount of reading on the site trying to work out the best course of action for my wife and our family. I will try to keep it short and succinct: We bought a house in 2007, with a GMAC mortgage, I lost my job in 2009 and we ended up in arrears, the mortgage changed to Mortgage Express, the house was sold with a shortfall of £30k. We have been paying £50/month ever since up to last month (April 2016). I received a letter from a solicitors mid March saying they were acting for their client Bradford and Bingley regading the arrears remaining following the sale of the property, now £28k plus. Enclosed was an income and expenditure form, also request for details of vehicles we own, bank accounts, savings, shares, finally a statement to sign acknowledging liability for the outstanding debt and our offer of repayment either monthly or a lump sum. A called them as they were calling me 4 times a day continuously. The info given to me on the phone was that they now owned the debt and they wanted the information to setup a plan for us to repay it. I have filled in the form but not sent it off or had any other contact with them yet. I would just like to point out at this point that they have the wrong address for us as we have moved into rented property due to an impending permanent move abroad, I still have access to the old address and any post ariving there. It maybe wrong but I do not feel obligated to give this company our new address. Or should I setup and carry on paying the £50 ish/month and/or give them new address and setup new plan? Many morale questions but the immeadiate action is most important which will lead to the future plan. We are departing the Uk next year. Thanks in advance for any advice and experience..
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Please could anyone advise me on what to do next regarding this, as I seem to have run up against a brick wall. I bought my previous property in 2000 with a mortgage from Southern Pacific. The mortgage was redeemed in February 2004 when I sold the property to my son, who also took out a mortgage with the same company to purchase it. My son failed to make the mortgage payments and the property was repossessed about 2 years later. I no longer have anything to do with my son. Recently, I decided to try to claim back PPI from my earlier mortgage. I no longer have any paperwork relating to that mortgage, as it remained with my ex - wife when we sold the property. All I have is bank statements showing monthly payments being made to Southern Pacific, with a reference number which I quoted to Acenden when I made my claim. Acenden stated that they had no record of me ever owning the property or having a mortgage. The only details they kept coming up with were my son's. Despite explaining that I owned the property prior to selling it to my son, and that my initials are different, they could find nothing. Until a further phone call about 2 weeks ago when - at last - they stated they had found my details and gave me an account number, and promised to send my paperwork to the company dealing with my PPI claim. Then a few days ago, I received a phone call from the claims company. Acenden had sent them all the paperwork relating to my son's mortgage. I then phoned Acenden again, who stated that they have no record of me and my son's details are all they have. So back to square one. What can I do next to prove my mortgage existed, and have they committed a breach of the Data Protection Act in sending out paperwork relating to my son to a third party? Any help greatly appreciated. Thank you. -
Hi all bit of advice please sorry if am posting in wrong place. Can I still reclaim mortgage arrears charges from Kensington? It's from a closed account from 2007 Thanks
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Hi everyone, Ok, i really need some advice and direction. My dad is 66 years old and i am the only family left that he has here in the UK, rest are in his home country. I own a property with my wife and 3 year old baby and have been looking to move out of there and purchase our own house. My dad has offered to sell the house to us at us under market value and at the exact mortgage which he has to pay to the lender, i do not earn enough money (£30k per year) to be able to buy it so a friend of his said why doesn't he 'gift' the house to me and i get the money under a bridging loan then later on get a good deal from a high street bank. There is a lot of sentimental aspects of this house which is why he just wouldn't want to sell it anyone and why he wants to gift it to us so then my son can grow up in it. I was really just after some advice on this. His friend said we would have to wait 1 year or perhaps longer on an 8% rate before the banks would then see the gift as completed so i can get a better rate, finishing off the bridge. He wants to retire and live in his home country. Is this the best way to proceed? Thank you
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Hi, I've had a read through previous posts and was hoping for some advice on our current situation. We entered debt management plan in Jan 2013 (70k credit cards & bank loans). Never missed on mortgage payments (1 residential & 2 buy to let) and these are currently up to date. We have a couple of properties which have finally increased in value and are hoping to sell this summer and get back on track. Our DMP has always been up to date. We were wondering what our chances were of obtaining a mortgage in future once we come out of the plan. Both of us have good jobs and stable employment. Also - if we went for part/full settlement of our debts does this pose an increased risk? We were hoping that if we went for part/full settlement we would be able to save and get another residential mortgage in a year or two - not sure if mortgage company would look at us - any thoughts? Really appreciate any help and advice as this DMP is a weight round our necks that we really want to get rid of as soon as feasible (never paid a bill late until we entered into this but was unavoidable due to significant change in circumstances). Please be gentle as I am not overly familiar with protocol on forums. Thank you for reading
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Hi All, I have spent the last few days reading thousands of posts and trying to get a grasp on things but i can't find anything similar to my dilemma. Will try and keep it brief as poss. We have a decision in principle with our BS. We went directly to them as the OH banks with them, they have the best rates and they are are by far the best fit for our needs. The DIP went through fine with the credit check as both of our credit files are spotless. The problem is i still have old debts totaling approx £30K from between 8 and 18 years ago. Yes, the large percentage of this debt goes back to 1998! I have somehow got away with minuscule payments for several years which i negotiated myself, approx £20/month in total. There are a total of 7 debts (mostly now with Cabot) with 2 of the early ones having CCJ's and the rest defaults. We now need to make an appointment to process the full application and i know one of the questions will be regarding Outstanding Debt'. Although the aforementioned old debts are no longer showing on my credit report they are of course technically still outstanding. I will have to mention them and this will obviously go against us!! I can of course not mention them but this will be dishonest and could lead to the mortgage being withdrawn after exchange (if they found out) which will mean the possible loss of a large deposit. Although no longer showing on my credit report the payments to the DCA's will show up on my bank statement. They only require to see 1 months statements so i could of course stop paying by SO/DD so i have a 'clean' month but again this is dishonest and i wouldn't chance it. Maybe they wont care about the old debts or maybe they won't notice (clutching at straws here!). The only solution i can see is to try and get low F&F settlements but i only have approximately £2-3,000 spare at the moment. If they accept i cant see any problems but the chances of all of them accepting 10% seems remote. Would welcome any thoughts from the experienced members. Many thanks. PS - I know i have been 'cashcowed' for several years and have never asked for CCA's. Unfortunately finding a way not to pay the debt wouldn't stop it being outstanding so wouldn't help my problem.
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I wonder if anyone can please help or advise about this situation. I have a home that I currently rent out and the mortgage is paid up to date etc. I had some financial difficulties when everything crashed in the late 2000's. I missed one or two mortgage payments due to being out of work a long time ago, probably 5-6 years. The arrears were paid up almost immediately and have been on time ever since. I have lived with my girlfriend for 4 yrs and have let the house for that period. Today I received a letter from HSBC for the full balance for the property, a FINAL DEMAND. I dont know why they would send such a letter as, like I said I am all up to date. I am wondering if because I should have let them know I was letting the house I am now in default, and should have been converted to a buy to let mortgage. If anyone could shed any light on this I would appreciate it. Thanks
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Hello, I hope someone is kind enough to help. I won't go into names or numbers as I know many banks and their Lawyers/ Debt collectors are avid readers of such forums. I have a mortgage shortfall debt after a repo. The banks Solicitors wrote to me and requested a repayment of the shortfall. This has been going on now for a approx 2 years. I made a few offers of a full and final which they declined. They then countered my offer on a Without Prejuduce basis but I could not afford to pay the sum requested at the time. I am now in a position to borrow the countered sum but as the date has lapsed they are now declining my offer. I know this is just a game they are playing and I am sure they will be willing to play this forever. What I would like to know is can I apply to the Court regarding this matter for a Judge to decide that this should be settled or do I just have to play games for the rest of my life with them. I am doing everything I can and offering to pay this sum is a big commitment for me but will be worth it to get rid of this . I am hoping a Judge would see how I am trying to work with them and maybe help end this matter once and for all. The Solicitor has told me they won't take me to Court as it would cost to much money as there is no guarantee they they will be able to get the money, also they won't bankrupt me as I have no assets. I guess they are worried I go on and win the lottery Any advice will be appreciated. Thank you
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I have a 10 year old mortgage that was sold by Compas Finance Broker (which I paid extortionate fees added to the mortgage) that was with GE money and has now been sold to Kensington. I went through a divorce just over 5 years ago and the mortgage was in joint names, in March last year I rang GE and asked for a transfer of equity as I now have my fiance living with me and things move on, during the phone call I went through the income and expenditure and GE cleared me for the T.O.E and sent out the forms. Due to delay of completing the forms due to family health problems the mortgage has been sold on to Kensington, to persue this again I rang Kensington but was told that they didnt do T.O.E's, I had a little rant and dug out the introduction pack id received from them. In the pack it states under terms and conditions that 'there are no changes to your mortgage conditions arising from the transfer' and they also included a Tariff of Fees on kensington headed paper which clearly state 'Change in Circumstances - Transfer of equity £100.00 charge' I put in writting my request for a T.O.E and sent it to kensington to get their official stance. A week later I received a letter acknowledging my complaint ???? they sent out a leaflet that outlined their Complaints procedure that clearly stated that they only accept complaints in writing ???? no complaint had been sent, only a request for the T.O.E I sent back a letter pointing out that I hadnt sent a letter of complaint only a request for the |T.O.E, I received a response 'that they can confirm that the option to remove a borrower from the mortgage account is not available'. Now the problem is that GE went through the Income and expenditure and sent me the forms for the transfer but yet kensington state there there is no option on the mortgage to transfer.. Despite them sending me the list of fees that include transfer and no changes to the origional contract with GE. I have SAR'd GE and have proof that they went through the I&E and sent me the forms and the terms and conditions of the mortgage are very vague and brief. can this be considered a breach of contract?? Also I state that it was 10 years since the sale of the mortgage but can the broker fees been reclaimed so far back that Compas finance broker recommended we take out this mortgage and not recommending a particular mortgage for your consideration (long shot I know regarding the limitation act) Hadituptohere
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Hi All, I have an old secured loan with Welcome for £7000.00. Since Welcome went bust I've not paid anything (perhaps the odd token payment) and have dodged various DCA's. 2 weeks ago the current DCA holding the account wrote to me to advise that they will no longer rely on the security in my property and will take steps to remove the security from the land registry. This seems like a really odd thing to do but I am highly suspicious? Could they be up to something? Anyone else heard of this? Many thanks, Limelight Bournemouth BTW The account has also disappeared from my credit file (Noddle) -
Hi My mum has a mortgage on a small apt in Spain. The repayments were affordable but two years ago rose to an almost unbeareable level. The banks will not remortgage due to her age and are not prepared to enter into negotiations about the repayment level. Has anyone had dealings with companies that advertise they can help you out of similar situations? From what I gather they negotiate with the banks on your behalf, you pay a fee but you get out from under a huge mortage with no liability. Id be interested to hear of any such stories. Thanks
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Re: The Mortgage Corporation - Woking Hi, I had a mortgage with the mortgage corporation from 1990-1998. I have traced them to the present day in the guise of :- Mortgage Trust Ltd. 51 Homer Road, Solihull, West Midlands, B91 3QJ. I had PPI arranged through the mortgage corporation and am trying to claim this back. I have gone thru' the claims process myself with Mortgage trust and they say that because cases prior to Jan 2005 fell within a non-regulated sale environment they do not have any liability. When I took my complaint to the Financial Ombudsmanicon service (FOS), they confirmed that this was the case. They did however state that I could take the complaint to the insurance underwriter (the insurance company who actually provided the cover) and the FOS would be happy to help if I had problems with them. Here lies my problem. I do not have any details of the insurance underwriters who the mortgage corporation dealt with in the 1990's as I was never sent any documentation. If any body out there has their ppi policy details, I would be very grateful if you could provide me with the name and possibly the address of the insurers used by the Mortgage corporation in the 1990's Many Thanks, jxgrgs -
I have a couple of questions I'm hoping someone can offer some advice with. I have a secured loan with Southern Pacific (Acenden) for £5500 taken out in 2006 and is due to finish at the end of April. In 2007 I was made redundant, got in to approximately £400 of arrears and was taken to court and ordered to pay the full monthly payment plus £20 per month towards the arrears. T his I did but Acenden added a £30 arrears fee each month to the arrears, hence I had no chance of ever repaying these arrears. The situation is that I now owe £12k which is due to repaid at the end of April and is made up entirely of fees, charges and interest. My questions are, 1. Does anyone thing there is any point going to court to challenge Acenden on the basis that they have frustrated the order of a court (or whatever the legal terminology maybe) as by them adding charges to the arrears I could never repay the arrears as directed by the court. 2. Does anyone know of any company that would be able to offer legal help (rather than just the generic advice you get from National Debtline etc.)? I have approached a local solicitors (in Bolton) but they want my to pay £500 up fron t just to look at the papers before deciding if they could help which I'm not in a position to pay. Any advice appreciated. -
I'm having similar problems, could you please let me know how i would get a summary of the charges added to my account, i've tried logging into their website but they will not activate my account. I've received a letter stating i'm in arrears but when i ring up they say my account is in credit and they will get someone to ring me back, but never do!!!
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I was wondering if anyone who has, or has had, a mortgage with DB Mortgages has managed to get approval from them to port their mortgage? If so when was this, what were the circumstances, i.e. buying new house or downsizing, and what were the criteria that they insisted upon. Also how long did the process take and were their any 'pitfalls' along the way? I am asking as it something they say they do and which I would like to do with my mortgage with them. I am looking to downsize house, release some equity and with some of it pay a lump off the current outstanding balance, not increase the term but reduce the mortgage size by 30%. Dealing with them is never straightforward so thought would ask the users for experiences! Thank you -
Hello I really need some advice. I have been given an eviction date from my mortgage lender as we are in arrears and have failed to keep to an agreement. This eviction is set for the 10th of March, we only received the notice a week and a bit ago. I have filed an N244 application to try and delay the eviction. I just don't know if it will be successful and as this hearing is set for the 8th it would be cutting it very fine. I have written in the N244 that due to my wife's medical condition we desperately need more time to find accommodation. She has an chronic back/spine condition and struggles to do normal day to day things and mobility can be an issue at times. She is also being treated for a heart issue and has to have her liver scanned at the end of March for a separate issue. We have approached the council and have been put on the list for "suitable housing" closer to our grown up Children.They need to help her when I am at work or working away. This all takes time! I have also asked if we can have time to sell the house ourselves but not sure if this will be allowed. Does anyone have experience of these hearing and if this could buy more time? I am totally lost............
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Good afternoon, We have been going through a living nightmare with the above company - they are related to Lloyds Bank. We have been fighting them in the courts and we won our case and now we have a fresh complaint and they have just admitted that they have tacked it onto the end of our previous case! This is not what we want or asked for - and they are refusing to deal with our fresh complaint on its own grounds - even though it is a completely different matter. TMB have a disgraceful habit of blatantly ignoring customers and I was wondering if I can use the BCOBS rules to bring them to court again? The judge sided with us in our case and we won - but they broke the law and acted illegally during our case - and we need to have some recourse as they have put financial penalities on us to the tune of £25K!!! Help please as they are literally causing us to mentally suffer extreme anxiety again. I cannot go through this again. Nor can I let my family watch this over again......
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hi, I Would really appreciate some help in a very difficult situation. A little bit of background first. we Have a NRAM mortgage with was originally on repayment which was took out on 2005, subsequently we borrowed and borrowed in the height of borrowing and our mortgage as of today is 167,000. one of the loans which we thought was to run to the term of the mortgage apparently has matured in December 2016 and they want £11000 now. In 2006 my partner suffered 2 heart attacks within 4 months of each other and subsequently went to half pay and we started to fall into arrears on other bills so I contacted nram and switched to interest only. finally as we thought we were getting somewhere the financial crisis hit us in 2008 and NRAM eventually were owned by the government and not regulated and so we plodded on by which time arrears on other debts were mounting upon me as I tried to take control as I didn't want my partner to suffer any more stress due to his heart but eventually I went into meltdown and suffered a breakdown . it took me a few years to get back on my feet and then I was made redundant in 2011 .Nram however were always paid. in 2013 my partner was diagnosed bowel cancer and again went to half pay. In 2015 I was diagnosed with PTSD And GAD (generalised anxiety disorder. so the top and bottom of all this is we have been contacted by NRAM as £11,000 is now due. because of problems in the past and me burying my head in the sand I have ended up with CCJs 2 have been settled one for £1000 and another for £8000 but I have another which I need to pay. my partner has a good job and I work part time, he is involved with a credit union through his work and he applied for a loan with them of £10,000 to clear the debt as he has £1700 in savings with them which they declined. Nram are saying that they want the full amount an no negotiation, sell or re-possession and they cant extend mortgage as not regulated credit union today have advised that just by making an offer they have to accept? they said that a law was implemented a few years ago that they have to accept this but I cannot find this anywhere. I need to find this information out ASAP any help please thanks
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The following PDFs are the MOD Guidance on: Guidance notes for Service Personnel applying for a mortgage Guidance notes for Service Personnel when applying for Unsecured Credit FOI201600147_Annex_D_Guidance_Notes_for_Service_Personnel_Applying_for_a_Mortgage.pdf FOI201600147_Annex_C_Guidance_Notes_for_Service_Personnel_Applying_for_unsecured_credit.pdf -
Hi Everyone, I’m wondering if someone can help please? I re-mortgaged my flat in 2005 through Countrywide and the mortgage adviser told me that I had to take out a Mortgage Protection Plan as it was necessary for me to get the Mortgage but now as I understand it isn't. The Mortgage Protection Plan summary says its Life or earlier Critical Illness Cover (decreasing) which is with Friends Life (used to be Friends Provident) and as I understand it Countrywide and Friends Life are affiliated (if that makes a difference?) I had buildings and contents insurance at the time, so I think that means I had enough coverage... I still have the policy and all the paperwork even though I changed Mortgage provider in 2008. Does anyone know if I can claim this back as miss-sold and if so if I should contact Nationwide or Friends Life please? Really appreciate anyone’s help! and sorry if I'm in the wrong place! Thanks, Sandra -
hi all I hope you can possibly give me some much needed advice as it is desperately needed. 6 years ago I got divorced, my ex wife as part of the divorce got control of the property and took on financial responsibility for it, she had control of an eventual sale etc. she married again in September, and in November I was told she no longer wanted anything to do with this property. there was a large arrears on the property, and to say there was a lot of work doing inside the property is an understatement, the mortgage company was going for eviction. I said to her if I was to take the property off her would she be agreeable. she wrote and signed a letter stating that she was happy for me to take over the property and at no time would she come back for any thing from the property and she would also agree for me to take her name off the deeds of the mortgage when the arrears where sorted out and 12 months clear payments had been made. I spoke frequently with the mortgage company and over the last 3 weeks cleared the bulk of the arrears. I went down to the property the other night and changed the locks due to the fact her son from a previous marriage has been using the property for the use of drugs , the day after I get a phone call from her going on saying ive been trespassing on the property and have made a big mistake changing the locks. ive been back tonight to check on the property only to find the locks have been changed by them. where do I stand on this ? there is no equity in the property in the condition she has left it in, if left it would probably sell at around 20k less than market value. her plan was to hand the keys back in to the mortgage company and then go for bankruptcy. as I have brought a large arrears under a month behind im struggling to find the money to seek legal advice apologies if I have posted this in the wrong section many thanks in advance for any help anyone may be able to offer
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in 2009 i gave the keys to my house back to the bank. At this time myself and my wife moved to Portugal as i had been offered a job there. A month later I return to UK and applied for Bankruptcy in November 2009. My wife was going to do the same but was very ill and we thought i would just do it all (but mortgage) the debts were in my name. in 2011 we return to the UK because my wife was still very ill. I started to work from home and we are very stable again. My wife does not work and holds no bank accounts etc.. All my debts are dropping off my Credit file just before Xmas we received a letter from DWF addressed to my wife asking for 45K as the shortfall from the mortgage debt. I check the CC file and the default date is 19/02/2010 . The letter said they would reduce the debt to 13K if we paid now. We do not have that money spare.. A few ago got another letter saying they deadline for paying reduced amount had expired but they would increase time to pay by another 2 weeks, they seems to me like there something wrong with the debt. I received other companies collection letter 3 years ago but they were addressed to me and not my wife so i just sent them the bankruptcy details and told them it was nothing to do with me. This is the first time they sent letter to my wife. extra information: We live in a private rented house. I work full time self employed. Have two children (5 yo twins) No other debt. Any suggestions on out coarse of action?
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