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  1. I was unable to pay the mortgage for about 10 months, but then I got a new contract and was able to set up a standing order which was larger than the statutory amount. I decided to pay this larger amount in order to gradually reduce the size of the shortfall in a way that I could sensibly afford. Prior to my first default I was actually overpaying over a number of years, so that my 10 months gap was actually only 4.6 months on the balance sheet (this is acknowledged by the lender). I have already given Mortgages 2 my assurance, several times, that I will be able to overpay them every month over the full term of the mortgage. Despite this they have started legal proceedings to repossess my home. The really odd thing is that they started their proceedings against me after I had set up my standing order to pay them more than I needed to! They have now had 3 uninterrupted monthly payments and still have not stopped proceedings. They are using Moore Blatch and the court case is in early July. Mortgages 2 are no longer in the mortgage lending business, and are obviously keen to recover all of those pesky mortgages and get their hands on the money for whatever new venture they have up their corporate sleeves. My defence is based on exactly what I have told you here. But what can happen? Will a judge really allow me to be made homeless when I'm regularly paying a larger sum than I need to? This is crazy! Does anyone have any views on this?
  2. Older home-owners are being given more borrowing options, as a building society launches a new range of retirement interest-only mortgages. Leeds Building Society said it is entering the market, with the new deals initially being made available through brokers. Interest-only mortgages allow people to make regular interest payments on a loan, without paying off the loan itself – but the capital must be eventually paid off. Leeds’ new mortgages are being offered to borrowers aged 55 to 80. https://uk.yahoo.com/finance/news/interest-only-mortgages-lasting-retirement-230100829.html
  3. I had an interest only mortgage with Rooftop mortgages that expired March last year. It was always planned that the repayment would be from the sale of the property (never late or missed payments). Unfortunately did not sell until this month. Redemption statement shows £726 in 'fees'. In September last year I had a letter from solicitors appointed by Rooftop - in that letter they asked for my repayment intentions (which Rooftop already knew) and stated that I would be liable to costs IF the actions appended (ie court hearing/repossession) were proceeded with. None of that happened. The solicitors have been a courier service to relay messages back and fore as I am abroad and Rooftop do not use email (their solicitors do...) Their contact comprises two letters from Rooftop attached to their emails.....six emails 3-4 lines each, mostly acknowledging my updating them. I am presuming this 'fee' is for solicitor intervention, but their letter in September clearly states I would be liable for costs only if the court hearing etc were actioned. Attempting to clarify with Rooftop but obviously I want the sale to go through as quickly as possible - can I pay/protest now and then contest this charge 'after the settlement'? Possibly by going to the Finnacial Ombudsman?
  4. Hi I used universal mortgage brokers several years ago had a remortgage off them and I may have been Mis-sold. Does anybody know if they still exist? Thanks
  5. 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.
  6. Hi any help would be great, Im at my wits end. Back story - 7 years ago I was finished from my job on health issues, was put on ESA, but then taken off because of their incompetence ( thats another story). Anyhoo , long story short, gained around £10000 in Mortgage arrears and when to court for an order of possession , which was suspended....had a few bumps along the way , but ironed the out with Mortgages PLC, we have so far payed back £5000. Just 2 months before Christmas last year, missed 2 payments due to lack of funds, car issues etc...Morg PLC sent out an advisor to see what was occurring and set up an new agreement. Was told by the advisor that we would receive confirmation of acceptance of agreement, and to make payment 1/1/17 . Because of the NY etc, didn't know that agreement was accepted or not, but made the basic mortgage payment. Had a letter yesterday morning stating that we have failed to pay mortgage arrears under the terms of the possession order, so I rang them. The guy stated that the agreement was not accepted as we have unsecured debt items on the budget (£200 pm) submitted to them. These items where there before, and the offer of £100 over the mortgage payment was the same as before. He said that the only way I could go forwards was to contact a debt service and set up an agreement with them, to not pay the unsecured debt fully and reduce it to £30 a month, then pay the rest to Mortgages PLC.. Sounds fair , but I stated to him that we could save more and pay £200 above the Mortgage payment, but he didn't seem interested to pass this information on over to the collections dept. Would it be worth ringing again to try to speak to someone else, or do I have to use the dept service ? This is some thing I really don't want to go down, some items I pay for are HP, laptops for college kids etc, they need them for eduction, I would sooner make a agreement directly. If they did push for the order of possession, could I go back and fight my case again...? I admit we where in the wrong for not keeping up the order, but after we have shown willing for 4-5 years paying back £5000 surely this means that we are committed to repay the arrears? Any help would be great.
  7. I have now had my mortgage with Redstone for about 10 years. Recently I have had to move and rent else where. I informed Redstone by post. They wrote back thanking me for updating my information. I rented the house to some nice people and was able to pay my rent and continue paying the mortgage. I moved because the 160 miles a day was killing me. I heard no more until last Tuesday afternoon when I was informed by the people renting my house that the house has a LPA placed on it by the mortgage company. The LPA company are collecting the rent now!!! Redstone collected my mortgage payment too. So I am out of pocket on the rent I paid plus the mortgage amount. Redstone are ahead by nearly three times what they are due. More details later
  8. Hi We used to have a mortgage with Mortgages PLC. They added lots of charges over the years, so awhile ago I sent a SAR and realised there was substantial charges i could possible reclaim, maybe between £500-£1200. I sent a letter asking, they said no and that I had six months from the letter to take it further. Due to various reasons I didn't carry on at that time. Now maybe 18 months later I would like to know if it is possible to try again or does that letter mean I have lost my chance. Does the 12 years still apply to reclaim charges too? Because I am probably looking at fees from around 2004-2007. Thanks
  9. Hi All Is there a difference between a court hearing for Possession and / or Repossession its probs a silly question and I know the answer but I ask because I have just recieved some paperwork re my court appearence on Monday 6th Dec, hence the title O M G. Mr Very Worried at the momment however I am sure that will change in the next few hrs.
  10. What do people think about Banks now offering Mortgages to people aged 80 or older ? Woolwich are now offering mortgages up to age 85. What are the implications ? Can people in retirement afford to continue paying mortgages ? What happens when retirement income is less than thought, causing people to have difficulties with repayments ? Will Banks be more considerate to older people when considering repossession ? Does it matter if older people die leaving a house with a mortgage ? How is life Assurance affected ?
  11. hi all, apologies in advance if posted in wrong place or incorrectly. I had a secure loan with future mortgages and that in turn was sold to engage credit which has been sold to Skye loans. Are they allowed to do this ? and is Skye loans a mortgage company? I cant find much info on them at all. Also I had PPI with Future and want to reclaim but not too sure how to or who to at the moment. Any assistance would be welcome. thanks Highjinks.
  12. 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
  13. Hi, I don't do Facebook so I have started a thread on the MoneySavingExpert forum - The Acenden (administered mortgage) Escape Committee in the section called "Mortgage Free Wannabe" (I can't post links here yet). - Acenden have apparently recommenced selling mortgages on behalf of their new owners. Do join me there. I will post more information on that new thread in a while, eg about the danger signs that indicate that Acenden means to repossess. Everyone's case is unique but there are things we can to help each other get clear of these cowboys.
  14. Hello! I am surprised that no customers of Acenden/Southern Pacific Mortgages Limited have mentioned the recent refund of charges from SPML? I have been battling with them for years over what I believe to be overcharges and MANY others have made comments on the forums stating the same. We received a letter dated the 2nd of July from SPML, saying that they have agreed with the FCA that certain charges made between 1st of January 2009 and 31st of August 2012 were "found to be higher than the market norm" and have refunded the difference back to my mortgage account. The letter doesn't say what the "norm" is and does not give a breakdown of the amount refunded but it does say it is for Arrears Management Fees and Litigation Management Fees . At the time the charges were made, they were still being added to the arrears balance of the mortgage and therefore several eviction attempts made by SPML were obviously based on unfair overcharges - luckily the court stopped their attempts and I still have the house today (with no mortgage arrears) - yet I am still fighting charges which at todays date total well over £20k (the majority in legal fees!). Anybody else had the same? Any thoughts from anyone on the best way to challenge this? Unsure how they have determined unfair charges between these date yet charges outside of these dates still remain at the same level?
  15. Has anyone seen this: https://www.fca.org.uk/your-fca/documents/requirement-notices/preferred-mortgages-limited-vreq I have a Preferred account and have been in constant battle over fees. I received a letter today to say they are refunding overcharged fees from 2009 - 2012 and they have entered into an agreement with FCA to refund overcharged fees plus 8% interest. The fees in the scheme include: Arrears management fees, Litigation management fees and Repossession Management fees.
  16. Hi, I really hope someone can help. I took out a secured loan with Kensington mortgages back in 2005 and struggled to keep up on the payments. In 2009 I defaulted on my house and it was repossessed , there was a shortfall in the selling price of the house , my current mortgage lender stated that they would not chase the debt . The issue now sits with Kensington mortgage, the house was sold in 2009 and Kensington have not defaulted the debt but keep submitting 6s on my credit file, I have a feeling that it was around 2006/7 that I fell behind on my payments but the debt never defaulted. Kensington have not once written to me, even though they know my address. I really am not sure of my next move, I am aware that the limitations act works differently with a secured loan . But I really would like to know how the limitations act works and what I should do with the fact that they will not default the debt?
  17. Can anyone tell me if I have read this right... have read so much am a little confused... GE have a possesion hearing listed for 2 weeks time, the arrears are £1,600 and approx 700-800 of that is interest and other charges, can they include this in the figure fo rhte hearing? thought I read that they can only claim the actual arrears, ie what the monthly payment is not what they are charging on top of that.. any help would be gratefully appreciated.
  18. Hi I have pasted a letter that I have written. Basicly I am not sure if this is the norm but my Mortgage company are charging me £50 for each month that i am in arrears. I have currently got an agreement set up with them via a court repo hearing and it turns out that I will apying the arrears for 5 years and the whole time they are charging £50. So I have decided to complain to the FSA for unfair contract terms and if they have a go at Kensington then I can apply to Kensington to stop charging. Well thats the plan anyway. Can somebody look at my letter please and see what you think before I send it Also if anybody else is in the same position feel free to send it aswell. The more the merrier. The Olives Our Street Our Town ESSEX AC12 3CD 1st March 2008 Dear Sir/Madam I currently hold a mortgage with Kensington Mortgage Company. I am writing to complain about one of their terms and conditions. I have enclosed a copy of both the terms and conditions of this mortgage and a copy of the loan agreement. In section 4 Key information it states the default charges. The first charge is a £50 monthly arrears fee. On both the agreement and terms and conditions this is the only place it is mentioned. At the time I felt this fee was for missing a payment. I am now in arrears and have since discovered that in fact this fee is charged for the total length of time you are in arrears I feel this is unfair because this is still charged to the account even if you have come to an arrangement to pay the arrears. For example if I owed my mortgage company £500 and I offered them £50 a month for 10 months to clear the arrears my mortgage company would be continuously adding £50 to the account for those ten months. Therefore the payments I had been making would not have really cleared the arrears and it would take me a further 10 months to get the mortgage to what it should be. By adding this charge to the account they are also receiving interest from their own fees. I also see this as unfair. I asked an advisor from Kensington about this charge and she said it was for the additional work involved in running an account that is in arrears. Even if the account with its payment towards the arrears is being paid on time each month they still place this charge making it very difficult to clear any debt. Myself and many more feel like this is a penalty. Therefore I would very much appreciate it if the FSA could look into this matter. Yours sincerely
  19. Hi Given the recent press releases from NRAM re the incorrect statements on their mortgages and unsecured elements would there be any case to revisit a repossession that has taken place between 2008-2014. The error relates to the unsecured element but any refund of interest may wipe out any arrears that led to the repossession. If anyone has any thoughts would be great. Thanks
  20. Hi - been trying to work this out in my head but wonder if anyone has any ideas about this situation of mine, thanks. I have an interest only mortgage - the arrears I previously had were shown on the statements and increased the outstanding balance, which I understand. The new balance then attracted more interest. Later the lender took me to court and had the arrears added to the security, increasing the balance again. Shortly after that they capitalised the arrears - so - assume the balance went up again. Also added all their legal fees. Does this mean that there has been a double recovery of interest then?
  21. morning Firstly I have mental health issues, I was on DLA full rate care and mobility until around 2 years ago when it all stopped suddenly I went to court to appeal but lost the appeal I am in the ESA support group. I have been seeing a mental health worker for a few months during which time my arrears have built up. i don't open mail and can't cope basically i owe just shy of 80,000 to Kensington, I have a court order in place from 2011 which stated I have to pay £9 per month off my arrears since march I haven't managed to keep to this the DWP pay £155.44, per month expected payment £200.20 £9 off arrears court order i was upto date although in arrears if you see what I mean til march/april as an idea i was 969 in arrears 01 01 2010 i reduced this to £321 at its lowest in feb of this year but has now crept up to £591 they have charged me £50 per month monthly arrears fee they charged me £60 for a field agent who knocked on my door unannounced but I cancelled the 2nd visit they have charged almost £2000 court fees and solicitors costs between 2011 and 2012 what can I do I feel I can't fight any more the hassle they give me when I ring and the way they are so argumentative puts me off ringing to sort things out I feel suicidal right now because of this The council have sent a letter giving me the names of 2 solicitors Where do I go from here court hearing 2pm monday I actually don't have a penny so can't make a payment my income is £162 per week from this £19.45 deductions for gas £21.65 for electricity £38.86 for housing costs which forms the DWP payment £8.70 for water I have £130 every 2 weeks to live on I am single thanks and any advice on where to turn to would be greatly received
  22. Hi there Myself and my husband got into some financial trouble 5 years ago which lead to some defaults. As of next year all the defaults will be due to drop off our credit files. We currently have a mortgage with no arrears for the past 3 years. We really would like to move in the next couple of years and was wondering how long after defaults are removed will a lender consider allowing us to sell and buy? Is there mortgage brokers that WILL consider applications with poor credit? Thanks
  23. Hi, Anybody who is either a solicitor with experience with dealing with Cheshire or anyone knows of a solicitor who helped them with their case and can introduce them to us? Cheshire repossessed our property a few months ago and we don't believe they have followed the right process (we have issued them with a SAR asking for our file in order to prove they have not followed the process), and they are now also trying to sell the property 100k lower than is price. Is a very complicated case that is why i am not writing too much here and this is why we need some legal advise on how to proceed. I forgot to say that we also believe they produced false documentations and statements to court in order to gain possession of the property (again waiting for the documents after issuing them with SAR to prove that). Any help would be really really appreciated.
  24. Hi I used these brokers several years ago for a remortgage with I Group and then GE Money. I believe I may of been miss old as they advised interest only. I can't find them in business anymore. Is there anything I can do? Any advice would be great!
  25. I wonder if anyone has a view on this please? I took out a sub-prime mortgage with Accord a few years back as I was paid commission and had a poor credit record. After I came off the fixed rate it was supposed to revert to the standard variable rate, which it did, and I found it increasingly difficult to meet the repayments and got into arrears. With brilliant help from this site I have managed to get back on track but only by switching to interest only as I pay a massive 7.75% interest. This has always seemed hideously high - it has gone up at least twice since base rate has been 0.5% and something caught my eye today about unfair practice by lenders. Accord's current standard variable rate is 5.99% yet I am being charged 7.75%. Are they able to do this? Obviously I have a poor record with them because I have had arrears but it seems wrong that having accepted me as a borrower they can, apparently, charge me anything they like! Does anyone have any idea if they are treating me fairly in this matter. Thanks.
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