Mortgage arrears charges

[buzz]

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.

[BankFodder]

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.

[buzz]

Thanks for your advice.

 

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

 

Buzz

[Guest stephen]

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

[hilaryfrances]

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

[Amanda Taylor]

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!!!!

[fanakapan]

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.

[paulson1985]

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.

[niggles]

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".

[paulpb123]

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

[buzz]

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