Jump to content
buzz

Mortgage arrears charges

Recommended Posts

In the past I have had problems with my mortgage repayments.

Every month the account was in arrears, I was charged a £50 arrears fee.

Does anybody have any advice on the legality of these charges. Your advice would be gratefully received.

 

Cheers

Buzz.

Share this post


Link to post
Share on other sites

The story is probably the same as bank penalty charges but you will have to do the reading and decide based on what you learn.

 

Read your contract. Ask them what the charges were for. Read through the posts on this forumand then decide what you want to do.

 

If they are excessive penalty charges, at least you are in a slightly better position than bank customers in that they can't close your account.

Share this post


Link to post
Share on other sites

Thanks for your advice.

 

Will have a good read of their T&C 's and see what I can find out.

 

Buzz

Share this post


Link to post
Share on other sites
Guest stephen

if its an arrears fee!! sounds like a penalty charge to me,

Share this post


Link to post
Share on other sites

well good luck with your claim matey, I am going to claim my money back from the Bradford and Bingley. These institutions are so cruel, they make the situation of people who have problems much worse. The "smuggies" out there who have no money worries want to watch out, no-one knows what is around the corner. I am telling everyone I know about this site. The amount of people who look astounded ans say they have never had to pay bank charges....yer right, I know for a fact at least one was lying.

 

 

United we stand divided we fall

Share this post


Link to post
Share on other sites

My Mortgage company charge £50 arrears fee to.they also charge me £15 per month for paying by standing order instead of direct debit.so the £50 per month i offered to pay off my arrears just covers the fee & doesn't cover the arrears at all!!!!

Share this post


Link to post
Share on other sites

I am also looking at nailing the Abbey. Just got my mortgage statement and find I have been hit with 5 monthly arrears fees of £35. The arrears are £131 !!!! I have 21 months left to run on the 25 year mortgage. So I am going after them.

Share this post


Link to post
Share on other sites

We are also claiming arrears charges and collection charges totalling over £3,500.

In the contract that we signed term m, you must pay the following (1) all reasonable costs and expenses relating to this agreement and any legal charge securing it as a result of any term of this agreement being broken or our expecting it to be broken.

 

In my opinion these charges have been added clearly for breach of contract.

I hope this is helpfull.

Share this post


Link to post
Share on other sites

Ive had £4000 added to my mortgage balance over the years...mainly made up of i quote... "An arrears administration charge of £35.00 has been added to your account in connection with this letter".

Share this post


Link to post
Share on other sites

Niggles,

They are definately penalty charges so claim them back. How many years? If you have records of how much with dates etc then send the prelim (sticky at the top of this forum). This is much safer ground than ERCs. All the best,

Paul

Share this post


Link to post
Share on other sites

This topic was closed on 03/05/19.

If you have a problem which is similar to the issues raised in this topic, then please start a new thread and you will get help and support their.

If you would like to post up some information which is relevant to this particular topic then please flag the issue up to the site team and the thread will be reopened.

- Consumer Action Group

Share this post


Link to post
Share on other sites
Please fill in your quit date here
Guest
This topic is now closed to further replies.

  • Recently Browsing   0 Caggers

    No registered users viewing this page.



  • Tweets

  • Our picks

    • A shocking story of domestic and economic abuse compounded by @BarclaysUKHelp ‏ bank complicity – coming soon @A_Gentle_Woman. Read more at https://www.consumeractiongroup.co.uk/topic/415737-a-shocking-story-of-domestic-and-economic-abuse-compounded-by-barclaysukhelp-%E2%80%8F-bank-complicity-%E2%80%93-coming-soon-a_gentle_woman/
      • 0 replies
    • The FSA has announced large fines against DB UK Bank Limited (trading as DB Mortgages) - DeutscheBank and also against Redstone for their unfair treatment of their customers.
      Please see the links below for summaries and full details from the FSA website.
      It is now completely clear that any arrears charges which exceed actual administrative costs are unfair and therefore unlawful.
      Furthemore, irresponsible lending practices are also unfair and unlawful.
      Additionally there are other unfair practices including unarranged counsellor visits - even if they have been attempted.
      You are entitled to refuse counsellor visits and not incur any charges.
      Any charges for counsellor visits must not seek to make profits. The cost of the visits must be passed on to you at cost price.
      We are hearing stories of people being charged for counsellor visits for which there is no evidence that they were even attempted.
      It is clear that some mortgage lenders are trying to cheat you out of your money.
      You should ascertain how much has been taken from you and claim it back. The chances of winning are better than 90%. It is highly likely that the lender will attempt to avoid court action and offer you back your money.
      However, you should ensure that you receive a proper rate of interest and this means that you should be seeking at least restitutionary damages - which would be much higher than the statutory 8%.
      Furthermore, you should assess whether the paying of demands for unlawful excessive charges has also out you further into arrears and if this has caused you further penalties in terms of extra interest or any other prejudice. This should be claimed as well.
      If excessive unlawful charges have resulted in your credit file being affected, then you should take this into account also when working out exactly what you want by way of remedy from the lender.
      You should consult others on these forums when considering any offer.
      You must not make any complaint through the Ombudsman. your time will be wasted, you will wait up to 2 yrs and there will be a minimal 8% award of interest and no account will be taken of any other damage you have suffered.
      You must make your complaint through the County Court for a rapid and effective remedy.

      http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/120.shtml
      http://www.fsa.gov.uk/pubs/final/redstone.pdf
      http://www.fsa.gov.uk/pubs/final/db_uk.pdf
       
      http://www.fsa.gov.uk/pages/consumerinformation/firmnews/2011/db_mortgages.shtml
      Do you have a mortage arears claim to make? Then post your story on the forum here
      • 0 replies
    • 30 Day Right To Reject - Vehicle Casualty Report. Read more at https://www.consumeractiongroup.co.uk/topic/415585-30-day-right-to-reject-vehicle-casualty-report/
      • 9 replies
    • I am new here but very glad to find my way here and would welcome any input.
       
      i purchased a brand new campervan conversion from Hillside Leisure (175 miles from our home) on July 26th for £31,000 and, within 48 hours, during a storm, the alarm began to sound incessantly. We could not get it to stop, even after trying everything listed in the manual. We phoned Hillside on Saturday July 28th around 2.00pm. The young man who answered the phone said he would seek the advice of their technician and call us back, which he did. The technician told us that they, Hillside, couldn’t help, but that we should take the van to Nissan (the van is a Nissan) as the fault would lie with one of their components.
       
      • 42 replies
×
×
  • Create New...