calling all Mortgage Express customers

[Shanidev]

No, you are not alone.

 

Just over years ago, I wrote to them of my possible pending financial difficulties 'Recorder delivery'

 

>> No response

 

Month later sent another

 

>> No Response

 

Another month later

 

>> No Response

 

Another month later, I phoned only to be told that they have not received it. Then I faxed it. Over 3 days of talking to them, when my phantom fax appeared and disappeared of their screens, there advice was extend the term and ask for top up loan. 3 weeks and £40 later was told they could not do it because my original mortgage was Status and now I would need non-status.

 

>> So No

 

Last year, I lost my job and missed a months' payment and then for the next 2 months could not pay full amount. They offered to suspend DD until I told them it was OK to present it. In April they presented it out of the blue without any communication to me. Bank charged me £20 ME £35 plus they cahrge me £30 every month for arrears.

 

There is a whole catalogue of arrogance.

 

In summary, There is no continuity.

 

Every time someone writes to you it is the first time they are writing and have absolutely no knowledge of what has gone on previously.

 

They never listen just shout patronisingly.

 

They never respond to letter except when you put a formal complaint to Customer Services and then it is more arrogance.

 

Harassment, bullying and psychological torture runs through their blood.

 

Would I employ them selling ice cream on a sizzling summer day in a fairground?

 

>> Not even if they were the last and only candidates in the world.

>> They would shut McDonalds down in less than a quarter.

 

So, you are not the only one. Ironically, my solicitor did warn me against them saying I would be better off with a bank but ME offered the best deal on paper.

[Shanidev]

Well, I am not BTL. This is my only home and it is partly funded by MX.

 

My arrears are 0.0083% of my total mortgage. In fact charges on arrears are higher than the arrears.

 

They applied for possession and have been granted a suspended possession order.

 

Now, we can scream, shout, plea, beg, cry foul ... we are not going to get anywhere.

 

Have you heard about the story of 2 cats who find a slice of bread, start fighting and take it to the so called wise monkey. I hope you have, if not drop me a line and I shall enlighten you.

 

My moment of enlightenment came at the hearing.

 

We are all cats in a world run by monkeys. So, whether it is the Govt, judiciary or the finance industry or any 'body' appointed by them. I would not count police or army amongst them - they are the fall guys between cats and monkeys. We cannot change this status quo for monkeys need cats and cats need monkeys but they cannot be in direct contact with each other, hence the need to have the fall guys.

 

We have 2 choices:

 

1) Cats make peace with the monkeys even if it hurt a little or lot.

2) Cats join forces and make monkeys realise that they need cats as much as cats need monkeys and get them to share the risk equally.

 

Let me explain:

 

Currently, the lender does not lose. So, possession is in everyone's BUT borrower's best interest. Hence, it's is applied for lightly and granted by default in less than 5 minutes.

 

Say, the property is worth 500,000 with a mortgage of 400,000 and possession is granted. Lender sells it for 300,000 and then takes you to cleaners for remaining 100,000 plus whatever charges/arrears you have collected. And, the process ensures that everybody (estate agents, solicitors, judges ...) make money in the process while skinning you alive and all the time making you think that everyone is working in your best interests. And, then they give you a shack paid for by your bretherns. See the analogy!!

 

A fairer alternative

 

Again property worth 500,000 funding by lender 75% (So, they own 75% and you own 25%)

 

2 repayment options

 

1) you pay interest and you keep the profits and

2) you don't pay interest and when you sell the property (for any reason inc possession) you take 25% of the proceeds.

 

Do you think there will be many possession applied for?

 

You know when people said the world is an illusion, I used to ask them to bang their heads against the wall and then tell me if they still think the world is an illusion.

 

Now, I am convinced that the world is indeed an illusion.

[Shanidev]

Hi Tembo, I take your point but what I was trying to say was that the borrower will lose for certain as the lender will keep chasing the borrower for losses + interest + charges and 90% of the borrowers will become solvent in time for the lender to recover their monies.

 

If you know it differently maybe you could tell me how I could walk away from it all and have ME write it all off. Am I missing something.

[Shanidev]

Hi Dehowletts, Thank for your offer of help.

 

I tried to send message a few times but your mailbox was full, so here it is on the forum.

 

I am still in the $#!"£$. My son is 16 and goes to college, the wife works full time and I get any work that I can. We just about meet our priority bill panic when the phone rings - not so much the DCA but friend relative inviting us/them, wedding, b/days. We are becoming very reclusive now.

 

Anything support/guidance you can provide would be most appreciated.

[Shanidev]

Hi dehowletts, thank God you are back.. wondered where you disappeared off to.. hope your mailbox is emptied out now ,, treid to send mail to you but it would not go through 'cos your mbox was full. What is this with GMAC. Mine was with GMAC as well. Last year my reduced interest mortgage (for the first 3 years) expired and MX offered 5 year reduced rate which I signed. Anything I can say/do on account of having been with GMAC originally? Just wondered. I will try sending the mail through to you again.

[Shanidev]

Hi, I am back in court next month. This time it's review. Last time I was in court, the judge granted suspended repossession and I was told to pay my normal monthly instalment plus an amount to clear the arrears in the remaining term of the mortgage (thanks to help given by dehowletts and Ell-enn).

 

When I went to make my August payment the guy and MX said, "Let's look at whet the court decided." He said, "the court has ordered my payment to start from 1st Sept and that as long as I pay before the end of the month this would be fine." And, since then I have been paying instalments required before the end of the month.

 

So my arrears are ~£2500 at the end of the month. Court review is 1st week in April at which time the arrears will be ~£3200. Also, the solicitors sent me a bill of £411 in Oct 2009 saying that I could pay before 14th Dec or their charges will form part of the arrears. Last time they even tried to get penalties on to arrears but the judge said this was not allowed.

 

Where do I stand and what I need to do or take with me to the court.

 

Also, one more thing as I left the court last time the judge said MX's behaviour/conduct was not in her jurisdiction and advised me to my case to OFT. But, MX's final response said if I was not satisfied with them, I should take my case to Financial Ombudsman. Who should I take it to?

 

My main complaints are that:

 

1. They never give full name (only give first or last name).
   
2. General £!$$ you off by either cutting off or not coming back or refusing to take the payment for one reason or the other, like call later, he/she has had to go for a break or the systems are down. And if you call 40 mins or so before closing time, the phone is repeatedly cut off and then 'sorry we are closed'.
   
3. Any promise or agreement they make on the phone is denied later and you cannot even speak to the original person - any excuse.
   
4. Repossession proceedings were rushed through - I was told that I had to clear arears within six months and if I could not the case would be sent to HO for decision. I phoned and wrote asking for case to be referred to HO. I never received any reply to that - usual conduct with MX (the trails die down and others are started). and when I phoned to asked why the repossession proceeding if I am still awaiting their response to my request. the guy just said, "They could not get hold of me on the phone" - one call!! I was called the day before the court hearing ...the guy gave his first name and when I called back, I was told there is no such person in the company.
   
5. Plus general arrogance and harrasment when calling to pay.
   

Thanks for your help in advance.

[Shanidev]

No. there is no justice. Odds are stacked in favour of the rich. If you look at the original laws of England hence the rest of the world, the laws were put in place to protect the wealth of the wealthy. So, if you are rich you can get so called 'justice' today but if you are in the upper segment you have to hope and pray.

 

MX, the banks, the judges and the law makers are all in it together. Justice is no more than a game. If there was justice then once they repossessed your property that should clear you of all debts taken against the property. After all, they had it valued before lending you the money. Amazingly enough those who are in a position where they can never lose have the most rights and the ability to absolutely ruin you. This includes Councils, IR and the VAT amongst other. Banks come in the same category; only the mechanism is different.

 

You have my sympathy and my prayers. I have suffered in their hands too.

[Shanidev]

Update on my case. After all the aggro from Mortgage Express gave me I have ended with a suspended repossession as previously stated. Judge said court has no jurisdiction on how companies conduct their business. So, I complained to FOS and after lengthy investigation Mortgage Express refunded all charges and paid me £150 for inconveniencing me. Some silver lining... effectively they bought suspended repossession. Court got their money, lawyers got their and my pain was valued at just £150. MX are still as arrogant and disorganised as always. Still changing rules and putting charges on. I avoid all contact on the phone with them.

[Shanidev]

Hi, Here is what happened with me.

 

MX played their usual tricks i.e. lies, more lies and hounding and cornering. I went to court for a repossession hearing. The judge heard MX's side, acknoledged my side and then said 'Can you play £30 extra per month towards arrears?' I had £1200 arrears and tried to explain that this was really one month's arrear but MX have wrongly stated that I was 5 months in arrears; interest coming down bringing my monthly repayment to just over £200. The judge repeated 'can you or can you not pay £30 per month' - if not I grant repossession now. I said I could and MX was granted suspended repossession with review in 6 months time.

 

I turned up for review and this judge asked MX if they had any complaints and MX said no. This judge effectively told MX to stop wasting court time for petty sums as even on that day he had dealt with arrears of £30000 upwards.

 

So, it really depends on the judge. There is no justice as such. Judges are partial.

 

Update on my story is that I took my complaint to FOS. MX agreed to refund all charges and paid me £120 for 2+ years of pain. Suspended repossession remains which is probably all that MX were interested in and for £500 of accounting it was not a bad deal for them.

[Shanidev]

I am not sure what there game is. They have started calling me almost daily. Last week I received a letter from them asking me to tell them how do I plan to pay my mortgage at the end of term. Is this normal or it this start of another bombshell in the making?