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Found 6 results

  1. Can anybody advise regarding Paratus paying redress to customers who fell in arrears with their mortgage. I understand many mortgage providers were guilty of 'automatic capitalisation' and customers past and present were entitled to compensation. We had arrears with Paratus (mortgage finished last year) but I have not had any contact from them regarding this issue. Any info would be great.
  2. I rang Paratus AMC Limited to ask what my mortgage repayment would be after the Bank of England Rate raise, I was not surprised to be told it had increased but was shocked when I was told Paratus AMC Limited had added Buildings Insurance Premium of nearly £50 a month to my mortgage repayments!! - which means I would be paying over £500 a year just for insurance, when the fact is I have my own buildings insurance and much lower. I asked why they had added Buildings Insurance Premium, I was told it was a legal requirement, but I've had my own Buildings Insurance in the past and never had this problem before! Now out of the blue, Paratus AMC Limited have added Buildings Insurance Premiumof close to £50 following the Bank of England Rate raise. I told them I have my own Buildings Insurance and I want the Buildings Insurance they have added to my mortgage to be cancelled, but they refused to do so, asking me to send in the insurance schedule, so they will check it and then decide if they want to cancel it or not. They also sent me a letter, detailing adding buildings insurance to my mortgage, again they should never have done this without asking for my permission and I don't need it because I have my own insurance. Paratus AMC Limited have added the Buildings Insurance illegally without my permission, they can't do this and I want it cancelled with ASAP. Please help me draft a strongly worded letter I can send to them, before my mortgage payment is due later this week. Do I really need to send them a copy of my insurance schedule or will a strongly worded letter be enough?
  3. Has anyone had any dealings with Paratus incorrectly calculating their arrears wrongly? If so how did you get your money back?
  4. Hi folks, I have been reading around about Paratus as they are my mortgage err, people. I have a 96k inerest only mortgage i took with GMAC but its cheaper than renting at the minute so alls good ! I have read that they arent the best as they seem to be hell bend on liquidating there assets since they no longer issue new loans and all that plus there is a tiny amount of arears, a few pennies less than a months payment!! just recently made redundant and wondering if i dare tell them!? The clocks ticking as the last of my redundancy will go on this coming months payment as I cant get MIR for maybe 3 months give or take a week! Anybody have any experiances like this with Paratus?
  5. I'm not sure if this is the correct place to post but I'm looking for some advice. I had a mortgage 2001/2002 with GMAC - I defaulted and resulted in the property being repossessed. My parents received a call today from Paratus about a mortgage debt (obviously they were looking for me but I haven't lived at home for 7+ years). I called them back and they advised I have an amount outstanding. They said they have been sending letters (I'm not sure where). Naturally at the time the mortgage was taken out I didn't have a particularly great credit history (classified as sub prime) but they still gave me a mortgage and charged a premium This maybe a stupid question but can they still chase for a debt that has been outstanding for that long?? I (perhaps somewhat naively) believed the matter to be resolved when the property was repossessed. Any help would be appreciated
  6. Hello, this is my first thread, so apologies in advance for any mistakes made. I am currently in a re-mortgage quandary with my property. it is my first home and I took out the mortgage, through a broker, with G MAC. I had not repaid small debt on time as a teenager and had no credit since and as such had a poor credit score. the property I purchased was worth £107,500. on the fifth Oct 2007. I did not need a deposit as I offered the seller £98,000 the equity was to be my deposit, I think this was referred to as a ''vendor deposit'' or ''gifted deposit''? I was repaying around £595 per month interest only, a figure I was not made aware of until after I had moved in, I was led to believe that it would be around £400 per month. I did not provide any proof of income. my partner left me within the first month and I was unable to honour all my commitments, I also took things with difficulty personally and lost my job. I fell in to nine missed mortgage payments in areas and got a charge for £4000 from welcome finance. I did however turn things around, I made payment plans and got a suspended warrant of execution for repossession in June 08. I have been up to date ever since. G MAC then offered for me to consolidate my areas in to a new mortgage balance of £118,000, I was being charged £50 per month areas fee, and it seemed like a good idea at the time. so I consolidated. Soon after my mortgage was passed to a new company called Paratus AMC. I have now come to the end of my fixed term and my mortgage follows the Libor rate. It seems to increase by about £10 every few months. Paratus have offered substantial discounts on my mortgage balance for me to transfer elsewhere but due to a less than perfect credit score and the fact that a similar property is now selling for £62,500 I am in a massive negative equity trap. I have now met someone new and we have a beautiful daughter together. the problem is that I cannot afford anything other than a interest only mortgage with Paratus' interest rates on a repayment of £118,000,( I am not sure if its fair that I owe this entire amount) I cannot sell the property and I cannot remortgage with another company. I cannot build, save or invest for the future, I don't want to go bankrupt but I don't know what else I can do, i've seen that bankrupts wipe the slate clean and end up with good mortgage deals again?!?!?! that's not right! I just want to owe and repay a fair amount on the property that I have. is there anything I can do?
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