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  1. Hi - I have been checking the info that GMAC gave me for an interest only mortgage, on reading through their tariff booklet and Mortgage Guide 2000, for Interest Rates it says the following: "The interest rate charged will be based on "LIBOR" plus an additional amount (a "margin") e.g.3% over the Libor rate. This means that if LIBOR were at 7%, the interest rate would be 10%. The margin applied will depend on the type of scheme you are taking and your personal and financial circumstances and this will be set out in your Mortgage Offer." OK - I notice that little bit about your circums
  2. I understand from someone that Paratus have issued letters informing of an interest rate rise ? I wasn't aware of any rise in interest rates. Anyone had one of these letters ?
  3. As we've looked at previous PPI claim possibilities we have also looked at earlier loans that were paid off using newer loans, something we should never have done, but this was all pre CAG My wife bought a car at Carcraft Sheffield in March 2002. She was pressured into buying by the salesmen who messed her about for ages saying they were having problems getting finance for her. Familiar story now I've read a few threads on here about them. Eventually she was offered a deal where they would reduce the cost of the car to help her get the finance needed (big of them !) and she signed a
  4. After getting my other half to go through a bunch of documentation, it turns out that she had a GMAC mortgage which was paid up in around 2008, and prior to this she was hammered with all kinds of charges for some time. After some searching around on the net, it seems that GMAC should have sent her a letter regarding the redress scheme in the wake of the FSA 2009 ruling on their unfair practices, but she doesn't recall ever getting any mail from them regarding this issue. I knew about the GMAC thing a long time ago, but myself and partner haven't been together long, and she had no ide
  5. IF you are an ex-GMAC RFC customer who had your "mortgage" sold and you REALLY want to get your own back on the Cooperative Bank and MAS No.5, here's a way how! Check your GMAC "terms and Conditions", specifically Clause 5 which states; Oh, who give a !!!! what it says, it's NOT LEGALLY ENFORCEABLE! Goto http://www.bailii.org/ew/cases/EWHC/Ch/2014/2117.html then go to section 86. Section 1 of the Power of Attorney act affirms that in order for PoA to be enforceable it MUST be executed as a separate Deed. GMAC didn't care whether their paperwork was in order or not. They SUP
  6. I recently opened a claim against GMAC for a very high early repayment charge I padi back in 2007. The reason for the early payment was due to having 2 properties both (through GMAC I couldn't afford) and the crunch happened and I couldn't get a tennant. I was a couple of months overdue with payments but GMAC bullied me into putting both houses up for sale. They were vicious and bullying. The actual ERC was higher than the last 10 mortgage payments. I paid around £12k for paying 10 months early in a 2 year contract. I'm wondering what other cases there are similar to mine in ord
  7. 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 th
  8. hi - i have had 2 mortgages with GMAC - one 2005-2007 and the other prior to that. i haven't got any of the documents or the account numbers. Can I see claim anything back and how would I do this. thanks
  9. was over 6 years 50 arrears charges 15 pounds no dd and taken to court by them was up two thousands pounds in arrears also i left them last year as the rate was 10.4 % i am sure these were added to the mortgage help thanks paul.
  10. saucy


    Does anyone have an address for GMAC? We only seem to have an old one and I believe they are now known as something else. Also, has anyone ever claimed and won in getting old fees for missed payment interest and DD fees? And lastly, is there a template I can find on here? This is very daunting!! Thanks, Owena
  11. Hi I have just become aware of GMAC being fined for unfair charges on their mortgages, Mine was taken out between 2002 and paid in full 2006. I gave them a quick call today and they said there was 76 pounds refund due to me, I have moved form the property so they could not find me. My question is should I ask for a SAR and see if this refund is right or just take the money and run. I am worried because the claim is over 6 yrs old.
  12. hi, not sure if ive put this on correct thread, have been thinking about claiming for mis sold mortgage ,just wondered if there is anyone with any advice at all on what to do or hold out and see what happens about the libor fixing, long story but will try to shorten it! in 2006 we sold our house of 23 years and moved, we went to a broker in our local town, and was advised the best option for us was to self certify, (i was on disabled benefits, have serious illness) hubbie was working at that time, 2 children, got a mortgage through GMAC, fixed for 2 years,
  13. 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 £5
  14. I understand that GMac mortgages have never sold PPI on their mortgages.iis that true? I had placed a similar posting just recently, but can not find it for updates
  15. Hi everone, Your help in this matter would be greatly appreciated so, thankyou in advance. Here goes.... I have had a mortgage with Gmac since Dec 2005, and since last year it has being operated by Paratus. I re-mortgaged with them from the Halifax because my options were limited. I have incurred heaps of £50 arrears charges, One Councellor visit, another one due shortly hence me posting this thread, and god knows what other charges, and now my balance on an interest only is £ 4000 more than when I took it out. My arrears are £ 714 and my credit file says 2 payments late.
  16. Can anyone advise? I wrote the standard PPI letter to GMAC (my previous mortgage company) and received a letter back from Paratus AMC stating that GMAC was a former company of theirs and that Paratus has not and does not nor provide advise on PPI therefore unable to to assist. They suggest I try the financial advisor who introduced us to the mortgage (as Paratus are washing their hands of this claim). The financial advisor has now ceased to trade so I could not go there if I wanted to. I am 90% certain I took out PPI with GMAC as I am unable to locate the paperwork for my mortgage.
  17. Hi Some advice please would be helpful. Not been on the forums for a while after the success (massive) I had a few years back with bank charges with Halifax and Natwest.... However I now have a problem with GMAC RFC who have just sold my mortgage to Webb Resolutions. Upon getting the letter telling me Webb had taken over I noticed charges to the tune of £1075 + £256 interest on those charges (at 7.7% - can't work out how it works out!) Most of them are £50 fees for Arrears Fees. I have written and spoken to Gmac who offered me £0 back then today after speaking to them £300 (50%
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